This thread is for general Q&A and Discussion surrounding the challenge, my challenge account and the plays we’re discussing. Play related discussion should be confined to the post for the play itself.
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What indicators do you use on your charts?
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Mr. Conq - thanks for the efforts on this challenge and sharing with the community.
Great changes to the charts making them more visible through the discord stream.
In addition to sharing your screen, do you have intentions on discussing “looking for an entry here, or seeing a bottom on ABC”? It can be a struggle trying to keep up with your trading just following the stream. I know you want to avoid people FOMO’ing into positions and things, but perhaps discussing a support level or something you’re looking for could help others improve their entries/exits through discussion … similar to how JB pops in and shares his thoughts.
Cheers
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Cash or Margin?
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You mentioned we will choose our own position sizing.
Does that mean you won’t be disclosing your own position sizing into a play, whether that be % or $?
Reason I ask is I wonder if it would be beneficial for you to disclose your sizing in some way, as a way to measure how confident you are in a particular position. Or I suppose if you were to do that, and you disclosed you were ‘all in’ on a particular position that might instill too much FOMO.
What are your thoughts on that?
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Will you just be using basic options strategies(I think it’s Level 2?) where you’re only trading basic calls and puts or will you also have access to advanced strategies like spreads?
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On bigger plays will you be implementing a written server alert?
Not for quick scalps but as for bigger plays like squeezes and or longer holds like swings.
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Will you be using server alerts for this?
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Wondering if there will be alerts in addition to the chart streams for the challenge. I know I’m not the only one who can only periodically be in front of the screen during the day. Alerts would help me stay caught up in following this challenge.
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I only use Bollinger Bands, my entries and exits are primarly called from watching price action (candle movement).
The current setup that is planned is to have:
- The video stream of my challenge account so members can see me making trades, waving my mouse around frantically and more importantly potentially learn about things like profit taking and averaging into a position.
- In addition to this, I plan on being sporadically availiable in the main VC, but mostly will be in a mock “stage channel” that we’re working on. Essentially the channel will have myself and some select upper crust members conducting research potential plays and reacting to the market, this audio will be pumped into the main VC via a bot that can be muted/unmuted at will, making it kinda like a radio station.
- I will be creating “alerts” by updating the various forum posts associated with the plays that I’m in, in addition to the main challenge “brainstorm” thread in this category.
I’m running a cash account and will continue to do so until I’m over 25K.
My positions are pretty clearly visible in the stream. We might work on a way to make the data better accessible, but for now thats where those who are interested can find it. I also plan on talking more about this sorta thing in my posts and VC stints.
I only trade basic options strategies, I think the others are kind of a waste of time if your goal is pure growth. Trading in complicated enough without having to learn what a queefing buttefly spread is.
Server-wide plays will be called on the forum from here on out. If there is an emergency callout needed I’ll use discord, but I really like the way information is disseminated here.
No. I’m going to be concentrating on contributing to the forum.
Make sure you’re following my forum account and reading my posts. The goal of this challnege isn’t really to provide “signals” as much as it is to demonstrate how to become a better trader.
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It sounds like to participate fully in this Challenge, participants need to be attending VC during trading hours. However, sometimes people won’t be able to be listening at all times maybe due to work or other reasons where people mostly hang out in trading-floor only or can only pop in and out occassionally.
Will your updates in VC somehow be disseminated to non-VC-listeners? For example, today you called out a re-entry into SENS on VC only. Though I understand how difficult it can be to make text updates especially as trading can get quite “on the fly”.
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Non-VC people will be encouraged to follow my forum posts.
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Will you be calling your entry strikes and exp in the forum before you enter?
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I’ll be taking them live, I won’t be calling strikes and expirations because that should be up to the individual. As I’ve said before, this isn’t an opportunity to mirror me, its an opportunity to learn from me and take what works for you and apply it to your trading.
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This is great, thanks @Conqueror . This is something I find extremely useful.
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I’m in a bit of a trading break, but still trying to keep up with the forums. I’m seeing over half the challenge account in XOM calls currently I believe, isn’t that over leveraged? Is that something being accounted for?
My position sizing is relative to my perceived risk. These are long out calls on a stock with a lot of upside so I’m comfortable going heavier.
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Thanks for everything, Conq. I’m excited to participate in this community challenge. I was following the challenge before it looks like you moved it to YouTube? I can’t find a link mentioned in the forum or on discord. How can I access the stream? Thanks again.
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They’re currently posted to this channel.
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