 Almost time for the bell, how many options will you sell? Fire up your platform, get ready to enter But first let's get the mindset centered We follow the plan, that's how we get paid Test and trade it, have success Find what works for you and forget the rest Stats and probabilities is what we're about Time to dismiss greed and doubt Focus on the process, not the money And the profits will flow More trade hackers, get ready to go Time to make bank, get locked and loaded Then be ready to play What's up everyone, welcome to Power Hour Live Tuesday, November 21st Hope everybody's getting ready for turkey day Here in a couple days Kind of a choppy, slow day As far as market movement goes, which is good For zero DTE These down 14, NASDAQ down 112 Russell down 22 Dow down 109 Gold and silver both up about a percent Notes and bonds mixed Oil flat, natty gas down a little bit Grains higher Euro and the pound mixed And Bitcoin down about one and a half percent Volatility contracted, VIX down about one and a half percent Right around 13.23 Yeah chiefs, not a good game Discount, not a good game We gotta learn to catch So as far as zero DTE today It's been great, every single trade's been a winner Started off with the AM Iron Condor Early exit, booked almost 11% On that one, DKS hit both profit targets Quiet lunch, hit both profit targets 40 and 80% And then my PM Iron Condor just hit 50% Right before I jumped on here, so No current trades on, but all winners So Hopefully Power Hour can take us home Yeah, all those were managed on trade steward I do have to still, some of those Use a trailing stop, so I do have to manually Work those, but All the entries at least, and exits are Automated Trunch one Very low premiums my friends, very low premiums This may be record low premiums that I've seen for trunch one So it looks like you would go inverted with the 40s and the 35s The 30s and the 35s It'll start trying to enter here in a little over a minute Yeah, I definitely think you got to change your parameters when premiums Are where they are now I'll be working on some stuff over the break this weekend Alright, so order should be coming in Starting here in about Three seconds And went with the straddle, the 35 straddle In for the 35 straddle Price just kind of bounced up right perfectly for it to not go inverted Got filled at $5.30 Yeah, I got to think that's probably the lowest I've seen For trunch one Let me get my back tests up just to make sure Got the power hour normal day So 5.30 So 3.20 is what I'm looking for to reduce my stop Yeah, I'll be looking at different options for the low volatility Kelvin I haven't made any decisions yet Haven't really dug in too much Discount you got inverted I would say at first thought Kelvin I think it would be more I think I'll be, I would probably gravitate more along the lines of entering early Earlier rather than taking profit targets But that's just I don't know Without, without digging in Not sure yet Getting a little bounce SPX at 45.38 Yeah, reduced size too I think that's, I think that's smart So let's see we've had a high today of around 45.42 ish A low of 25 Pretty tight range Popped a little above the open Had a little flush below About an hour after the market opened But pretty holiday choppy All right, so anybody new here I know we got some new folks who just joined recently Feel free to ask any questions in the zero live chat channel For power hour, I'm getting in three different trades But a lot of downtime, a lot of time to answer questions So feel free to post let us fill in the gaps for you I did Do you have some voice issues too? Yeah, I was at the game last night Welcome Benji White tiger, I just recently started trading with trade steward A couple of weeks ago So I'm still working through some of the nuances Once I get through that I'll be I'll start to put out some videos and kind of stuff Of the way that I do it for the for my training And I can share the bots and things like that But I gotta I gotta work through things before I Start sharing things so I don't share the wrong info with you Yes, catching a little bounce up to almost 4540 No chat from Kresch Who am I gonna make fun of? Looking at some of the other markets On the sectors GDX up almost 3% Healthcare green, biotech green, consumer staples green Retail slightly red Regional banks down 2% Readers down almost one and a half percent Oil and tech down a little bit Baidu and Tesla up over two and a half percent PayPal down two and a half I am in the process of reading Elon Musk's bio book From Walter Isaacson, it's pretty good I'm only about a quarter of the way through it But pretty interesting A lot of things I was not aware of Just reminding me because I was looking at PayPal Which he was one of the original PayPal folks Crunch once trading at 760 My stops at 930 Need a little pullback back in the range MBK So the So the power hour trading course So I'm trading power hour a little bit differently Than I was from that course So what I do is at the end of each month I put out my plan for how I'm going to trade The different strategies one month at a time So if you check the trade plans channel And then check for November You'll see exactly what I'm doing for November So what you'll find with zero DTE Is a lot of the courses are kind of a foundational Core way to trade it And then in the trade plans Is where I was kind of As we get new data coming in As we find new little nuances about Different strategies I'll kind of tweak those But then I'll trade them the same way one month at a time Does that make sense? Also in the trade plans channel If you haven't been in there That is a gold mine of info With all the different members Who have presented their trade plans So much good stuff in there Yeah welcome Jake 1M Glad to have ya Vicks hit a low of 13.13 today Heading towards that low We saw back in September of 12.68 Yuck yuck yuck Yeah you'll see that during holiday weeks Like Thanksgiving or Christmas Or even if the markets down a little bit Volatility is just going to be contracting One of the reasons I did not Trade any calendars this week Yeah MBK so there's different Depending on the movement Coming up to power hour So if it's kind of a choppy What we call a normal day Like today I trade it one way If we are up on the day I trade it a different way And if we're down on the day I trade it differently That's something I just started doing this month Kind of segmented it into the type of Price action day it is SPX trying to pop back up By the way too if you're new And if you haven't traded zero DTE much Or even if you have I mean this is a really good period to Just learn Kind of practice with SPY Or very small Because it Definitely is easier to make money When implied volatility is high Right when the Vicks is 18-20 That kind of level or higher Much different ball game When volatility is as low as it is right now It's much more difficult So just keep that in mind As you're starting to learn Learn the ropes and figure things out It's a good time to be spending More time learning rather than Trying to force Forced trades Welcome back white tiger We've got so much content now We've been doing this since 2016 So when you come in new You might be You might definitely feel overwhelmed Just one step at a time You don't have to You don't have to learn it all in one day Just as you go You're going to learn new things It's just a culmination of all the things That we've continued to learn As a group It's a pretty awesome kind of mastermind group But yeah I can understand It looks a little overwhelming when you first join Benji can check out the The trade plan for the different morning ones I do trade them a little bit differently On different days for example today On Tuesday It doesn't back test well To hold it later so For Tuesday I just do a quick early exit So I'm only in the trade for less than 30 minutes That's what I did today For other days I trade them a little bit differently For example on Mondays I go bigger size To get that little volatility pop On Mondays And they test the best by far And so you'll see in the plan You know kind of the If you just look at the back test Gives you all the criteria for each one And kind of the filters and things like that But you know like Monday I don't use any kind of Any kind of filter I'm trading it right at the open on Monday Every Monday But other days I want some type of volatility filter So that I you know If volatility is contracting Before the open Sometimes that filters out trade so Yeah it's a little bit different On different days And different situations Welcome Talon We don't do any One on one Coaching I really Frankly just don't have the capacity to do so Which is why we structured it The way we did so I can help as many people as possible With the You know the courses that can be Watched on demand and then we do these live streams To kind of help fill in the gaps On anything you're Trying to figure out but You're more than welcome to use this Use these live streams as a Coaching type session White tiger trade Steward does not do Paper trading Tronche 2 coming up in a couple minutes My bot will start trying to enter At 113 and 30 seconds So a little over one minute from now Otto I have not found Really any value in VIX 1D It starts low And it goes up every day So I haven't really I do watch VIX 90 Because it's you know The regular VIX measures the At the money 30 day Options of SPX VIX 90 measures the At the money 9 day options of SPX And so You know obviously 9 days is closer To 0 DTE than 30 So I do look at that but The VIX 1D I just have not Found anything useful Of how to use that for anything See it just starts low and it grows every day Like Sometimes it grows more than More than others But you know I just There's not really a whole lot to Extract from that that I'm aware of yet Opt for dollar Did you figure out the TS change Error I'm not sure what you're referencing Here comes Tronche 2 Build at 435 On Tronche 2 And that's the 4540 straddle So I'm in the 35 straddle For Tronche 1 and the 40 straddle For Tronche 2 Like if I'm trying to change my stop Is that what you're saying I think you would have to change your bot So that it only does the entry and then You set up your OCOs and toss Or you Disable Disable the bot In trade stewards Yeah, that's right white tiger Yeah, anytime you're trading an iron condor You Don't want price to move And we've just we've found a lot of different kind of Nuance situations Where we have a higher probability Of that happening than not GT there's No automations that I'm aware of That connect to tasty Trade steward won't because they claim That tasty Discloses personal Log in information to them and they don't want that They don't want that If you have IB There's trade automation toolbox That connects to interactive brokers Trade steward is working on a deal With tradier So hopefully that's done soon I'll definitely be utilizing that Yeah, that's not that's not good discount It's still hanging around 4540 I would take a 4540 pin today And then of course TD Purchased by Schwab So Trade steward is going to be Obviously Trying to get everything set up with Schwab But Schwab hasn't even released their API Yet so they haven't been able to Get that done My TD accounts are scheduled to Switch over to Schwab sometime in 2024 I haven't gotten an exact date Yet S&P's down 10 S&P futures Anyway I did not trade any futures today Just did not see anything That I liked Tranche 3 coming up in about 5 minutes I don't I don't really trade anything dark avenger based on Seasonal trade Nice Michael Todd After the bell today huh It's been on quite a rip From about 392 Up to Over 500 In just a few weeks What are you doing dark avenger are you taking anything Let's see Tranche 2 I got filled at 435 I would reduce my stop On Tranche 2 at 261 260 You're just saying the day before Thanksgiving Is typically bullish Yeah I don't think I'm going to play the I don't think I'm going to play the Nvidia If I did I would play it to the upside But I think I will pass Expected move is A little about 33.5 bucks So to about 533 467 Okay interesting Discount 1 minute till Tranche 3 Tranche 3 looks like it's going to be the 40 40 straddle And here comes Tranche 3 Filled at 635 On the 40 straddle That's 2 to 1 2 to 1 ratio 40 is the sweet spot Looks like Discount and Trader Bianca Are following the same Same Twitter folks Getting a little pullback in SPX Down to 4538 Adam Mancini Name sounds familiar but I'm not sure I'm not sure I know who that is Super talented futures genius I'm not sure if I'll look up this guy Those are some good Good compliments Man we just got a little A little volatility pumped into our Pumped into our trade didn't we Maybe it's just kind of jumping around GT I just I found it works better I found it works better When you have a Just kind of a choppy Or what I call a normal day Anecdotally I kind of It kind of made sense to me because I think When we're just kind of directionless Just kind of chopping around we tend to kind of Just Gravitate higher towards the end of the day Yeah for the normal day Correct So I'm looking at all three tranches on my Risk graph here Tranche 1 is this one So price is right here So Tranche 1 is at 35 strike So that would benefit from a little bit of a down move And then my other two are both on the 40 strike So I usually just look at all of them together A lot of times you're sharing a strike Like I am with two and three Well a lot of times when there's low implied Volatility anyway Yeah so for monitoring you can Watch the risk graph White Tiger Or the other thing you can do is Go to your activity and positions And then you can monitor it here To kind of get an idea of Where it's You look at working orders And you can look at Where the price is In real time And I don't I'm using the bot so I don't have my stops in here But if you put in an OCO Using the toss order templates You'd also see your stop And your profit targets in here For me I've got this And I've got this on another monitor So I'm kind of monitoring it this way as well You know it's a Trunch 1 It's up 7.5% Trunch 2 is up 13% And Trunch 3 is Now it's down a little bit So those are kind of the three screens That I use for monitoring power hour Risk graph And then trade steward If that's going to be part of your plan And then the monitor tab So the downside of the bots Is they don't have all the features that we need yet You know they don't have trailing stops If you adjust your stop You can't adjust it below Where you open the trade So in that case I basically need to cancel it in the bot And then set up an OCO And toss You know there's That's probably the main thing You still have to Depending on what kind of back test Or what kind of plan you're Trading On a specific strategy There may not be all the Capabilities to fully Automate it with the bot So Whereas if you use the toss templates You can kind of Set that up however you want I like the bots From a perspective The way that I use them is You know a lot of people come in And they want to automate things So they Think they can just kind of set it and forget it That's definitely not how I think about automation I look at it more from a perspective Of just Setting up your criteria And then putting it in So that you're making less mistakes And once we get some of these other features It'll be nice too But it is very easy to manage The Stop in trade steward as well So for example In Tronch 1 when I get to 40% Which it'll be displayed right here Then I can Just go in here and edit my stop Change stop Plug in the new value Hit change And it's done So that updates SPX coming down And I need to stay above 35 Between 35 and 40 please Preferably closer to 40 Yes If there is a bid on the On the longs It'll just close the shorts which is cool If there is a bid on the longs It'll sell them for you And there are different settings that you can Do that or not do it You can kind of adjust that If there's no bid on the shorts That's a good question Meach I hadn't really thought about that Did Katie know Or discount or Anybody else that's been botting Thanks Ryan P The answer wasn't great SPX hanging around 45 36 24 minutes to go So Tronch 1 likes this level But Tronch 2 and 3 could use Little bounce Ryan P If I'm in a short straddle and one of the legs Goes bid list Do you try to close the one leg that has a bid Answer Shorts are never abandoned like longs Ryan P said ok But one of the shorts goes bid list Then you won't be able to close the position You close each peg Like independently You can always buy to close Yeah, ok I think that's about as good as you can As good as you can get Probably around 5000 white tiger But it completely depends on the width Of your strike Easiest thing to do would be Just model it and toss Set it up on the analyze screen And Confirm and send once you pick the width Of your wings And That'll give you the best idea So for example So your buying power requirement is the Width of your wings Of your widest wing Minus the credit received That's your buying power So I can't really give a good example But If I go out to like the one day options For example These are zero DTE And we're trading pretty close to the money So I go here And then I go 10, 20, 30, 40 wide For example And then I go here Let's say we're doing a straddle Which is normal right now I go 10, 20, 30, 40 wide Here So obviously you're not going to get that kind of a credit Tomorrow But The width will allow you to see A little skewed Then you can see Just visually what the buying power is For this one it's 1900 Because I went 40 wide on the call side So I do 40 wide on the put But again you won't be getting this big of a credit either So It'll be more That'll give you kind of a ballpark idea They'll know stop reductions Takes a while with straddles Trunch ones at 21% Trunch twos at 10 Yeah Jake when I You know when we first started trading These a lot of us and some still do You know take profits At certain levels But what we've found is Yeah if you can Hold it till the end of the day Over time, overall Over many occurrences your Profits going to be better So you're going to have situations Where you have a really nice profit And then it goes away and gets stopped And that's part of it So it's a mental thing You got to Build your mental discipline Around it too But that's what we do SPX up to 45 37 I'm using Google Chrome I think it's another one of those Chris shoes Chris shoe Must have been them He doesn't make a pun Alright A little over 15 minutes to go Trunch ones at 370 I need it down to 320 to Reduce my stop Yeah reducing stops with straddles It usually comes down to the last 10 or 15 minutes How long do you think it'll be until Chris The market on closing balance for the day He's about to He's about to Early indication 67 million sell side Trunch one Getting close Currently trading at 350 Hanging around 37s Trunch ones up 33% Trunch two up 7 Trunch one up 33 Trunch two up 7 Trunch three down A little bit Trunch two I would reduce at 260 It's currently trading at 340 Right so I need to push up right under the 4540 for that one to get close Volatility popping up a tiny bit Here in these last 30 minutes or so Tiny bit Tiny tiny Trunch two trading at 285 I need 260 There it is 260 So changing my stop Trunch two So what I had to do there Is So when I got down to 260 I was reducing it to $2 stop So I have to do 25 cents over the Opening credit which was 435 So that would equal 460 is now my stop for Trunch two Trunch three now up 38% Trunch two up 43 Trunch one which is the lower 45 35 strike Still positive but It's good 8 minutes to go Just hang right here little buddy Just hang right here Final market on close and balance 236 million buy side That's right dick Got to talk to him Tell him what he wants to hear Call him your buddy or pal Whatever it takes Yeah that's kind of nice When I was driving to Louisville last week I was cruising through St. Louis Just had Trade stewards sitting on my phone Watching it and watching it Do my power hour for me I didn't realize my My Audi has basically Autopilot So I just got to touch the steering wheel About every 30 seconds Yeah white tiger I don't have a date Because I just want to spend some time Going you know having it Going through different trades before So you know when different things happen I want to make sure I understand how to Like there's still Some things I need to work out on changing The stop loss if I got to change it under the Open so there's still some things I got to work out Little above 45 40 Closing in on 5 minutes till the bell So I'm going to go ahead and bail on Trunch one Here at 5 minutes till Build it 505 on Trunch one I'm going to go ahead and take off Trunch number Two as well Bounce back up there Little bounce back up Trunch two closed at 245 Still have Trunch three on I left Trunch three because this is the two to one ratio I was hoping for a little continuation higher But it went the wrong way Moving towards the break even now Three and a half minutes to go Giving me the bounce I was wanting Back up to 40 Get on back up Three minutes three points let's go It's going to take me out at 58 at two minutes till the bell So I'll just let it go Another 45 seconds I'm on little bit higher buddy Little bit higher little buddy So my order should start coming in Right now to close I thought I had this one set at 58 I could be wrong That was off memory No I did not Alright so I got to close it Nice little bounce Trying to get filled to exit Canceling replacing Filled to 310 All out All winners Started off the day with my AM trade quick Quick exit winner 10% for 11% DKS at both profit targets Quiet lunch Hit both profit targets 40 and 80% PM iron condor Hit my 50% profit target Trunch one small winner Trunch two was the bigger winner Trunch three was the biggest Well dollar wise Percentage wise trunch three was the biggest Dollar wise trunch two was the biggest So yeah good day That helps After yesterday Was a little bit brutal Alright my friends Good day for power hour Live stream wise Tomorrow morning Chad will be streaming At the open And then we will be doing our last Live stream of the week For power hour Alright guys have a good day Guys and gals good night Chat with you soon