 It's the end of the day, 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 Hey, hey, listen, 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 like honey The show, come on trade hackers Get ready to go, zero day options Time to make bank, get locked and loaded Then be ready to play What's up everyone, welcome to Power Hour Live Friday, January 12th Hope everybody's having a good day Mr. SPX had a little fallout this morning Down to the expected move, lower level Bounced, retested it again Bounced and then got a little choppy here The last 30 minutes or so S&P currently basically unchanged NASDAQ basically unchanged Russell, down about a quarter percent Dow down almost a half percent Gold, up one and a half Silver, up over two and a half Notes and bonds, slightly green Ten year yield down a half percent Oil up one percent Natty gas, big bounce up seven and a half percent Grains, a little bit red Euro and the pound, a slightly red And bitcoin on the heels of The ETF at least down six percent And Crane, I think it was Crane who mentioned it Right after it came out Price dropped, classic Buy the rumor, sell the news So for Power Hour Trunch numero uno Looks like we'll be at a At least at the current price Looks like we'll be at a Little boat straddle So I'll be going full size Had two bot trades today Zero DTE One was DKS Hit 40 percent And my AM ratio from this morning Hit 50 percent So far so good Time for Power Hour to take us home Did a couple other reentry Chat-ish like trades First one got stopped out Second one hit all three profit targets And I'm currently in a 90-85 That I got in a little bit before this drop Trunch numero one Will come in at 56.30 So here in about three minutes Yeah, I took my normal Friday AM trade at the open, yep VIX is currently at 12.53 Had a little run up When SPX was dropping And then it's just been kind of Contracting since then No, my AM did not stop out I mean it was Yeah, even when price pushed all the way down To the expected move It wasn't, I mean it was underwater A decent amount, but it wasn't It didn't come close to getting it stopped When I say it didn't come close It was probably, I don't know Closest I saw it come to the stop Was maybe five bucks away As far as my current price Versus my stop My AM I got in On the 75s and 15s And I got filled at 17.65 On a three to two ratio Trunch numero one here In about a minute and a half Looking like the 80 straddle If we hold here So I've got a pretty decent size Stop on mine, I've got a 25 dollar trailing stop On my AM trade DX coming down a little bit to 78 There comes Trunch one filled at 7.85 And that's on the 80 straddle Yeah, I'm gonna do a Here in about 15 minutes I'm gonna do a 4.7 and a 6.7 Then I'm gonna do the 4.5 double diagonal And then I might do the 5.7 At the money version Towards the end of the day Trunch one 80 straddle Got filled at 7.85 So 4.70 will be where I reduce my stop Yeah, I'm gonna, Vegas Michelle I'm gonna do them The ones I just mentioned I'm just gonna go light Just gonna go light position size It's not a It, because it's a You know, it's not as The volume's not gonna be light Like it is Christmas New Year's type stuff But I'll still go a little bit light No 6.7 linked Should be, I apologize if it's not Yeah, it's there Yep, okay Yeah, let's see, I got my trail On my A.M. I got my trailing stop down to 20 Cosmo So I don't know if you got it Just at a different, a little bit different time Different strikes or what it might have been Mine got in at 9.31 29 Or 17.65 This PX Hanging around 78 My 4.7 is a 25 delta Yeah, I'm gonna go a little bit light Cos it's a short week Well, yesterday we got smoked Or I got smoked on Trunch 1 Made it all back Plus some on Trunch 2 and 3 Let's just, can we just end the week With a 3 win power hour Is that really too much to ask? A 3-Bagger I just need a 3-Bagger to Feel good about going into the weekend I mean, they're taking Monday away So the least they could do Is give us a 3-Bagger to end So I'm not gonna enter quite yet But for my 4.7 Looks like I'll probably go with the 4800 47.55 Looks like it's trading around 1950 right now I'll give it about 10 minutes before I enter So I know we got some new folks here Just kind of recap What I mentioned yesterday on the live stream as well If you didn't hear So, you know, we've obviously built up A lot of content In a pretty, you know, massive library So when you come in and you're brand new This, you know, our Discord probably Seems a bit overwhelming So, if you're new The first thing I would encourage you to do Is go to the ZeroDTE course channel And scroll up a little bit Until you find this new member ZeroDTE checklist And so I kind of outline Step by step how I would start If you're trying to just get started Watch the foundational strategy videos Here in the ZeroDTE course channel So there's a power hour course There's an AM iron condor course And these are really just foundational Ways that I trade I've changed and tweaked some different things Around how I trade And that can be found in the trade plans channel So every month I put out exactly how I'll be trading ZeroDTE All the strategies, the criteria The position size, all that stuff Is in the trade plans channel Along with a bunch of other folks Trade plans, which are awesome Number three, get an optional mega subscription To do your back testing Attend the live streams like you are now Practice, practice, practice Paper trading or SPY If you want to have a little skin in the game SPY is a great practice symbol And then from there you're going to start Building and creating your own trade plan Around your position size, your risk tolerance Time of day, all that good stuff So that is the Step by step how to get started And then as we stream every day As you can see, once we get in our positions There's a lot of time to just kind of chat So any questions or comments Or things that you need to help fill in the gaps That's what we're here for Disco, are there slides or examples On here of setting up iron condors in TS Is that trade steward or toss Trade steward, okay So intentionally I haven't done any videos Or anything yet on trade steward Just because I haven't been using trade steward That long So there's still some nuances And things that I want to kind of work through But I will be putting out some content on those But we do have a trade steward channel Up above, if you scroll up Under the automated trading header And folks have posted there Trade steward has a good discord as well But to answer your initial question No, I have not put out anything about how to set those up I will tell you that If you have a strategy that uses Multiple profit targets You basically have to create multiple bots So I have several of those strategies Where I have multiple profit targets And then I want to ratchet down the stop So that's actually done with a couple of different bots Trade steward doesn't have the capability To have multiple profit targets on one bot yet So if you wanted to take profits at 40% and 80% Which is something I do on a couple It's just two different bots One set up at 40 and one set up at 80 And I would also say In relation to automated trading And trade steward I would highly suggest That if you're just getting started Bots are all the craze, right? Automation, just done for you type thing But I would highly suggest that you Manually trade a strategy For a while before you even consider automating Yeah, I kind of wondered that too, mate Because his subscriptions are based on number of bots He may not ever create it The ability to use multiple profit targets with one bot I don't know that for sure I don't know if that's more of a Back-end logistical nightmare Or if it's because he'd rather you just create more bots Chad, another standard $8,000 day Just like clockwork When he wins four losses on the week For plus 30k, very nice I can't say that my week was plus 30k In fact, I haven't I'll do my weekly video update today But I think I'm the other way I think I'm probably negative 30k on the week Yeah, this is This first couple of weeks of the year has been a Not a solid start for me Yeah, basically Chad took my 30k Thanks, Chad Yeah, if you lost money this week Just blame Chad, he basically took it But the way I trade, literally A couple good days could get me back Back in action It's not the way I wanted to start the year But hopefully The next couple of weeks are better I don't know about that, Jake I mean, I led the horse to water But Chad's drinking pretty good Alright, here comes Trunch 2 filled at 4.95 And that would be on the 75 puts 80 calls So 5 wide for 95 That doesn't look like a very good fill That is what it is Filled at 4.95 Yeah, looking at the option chain I would have thought I got closer to something like that 5.10 or something So Next week Monday closed Still have the World Economic Forum meetings going on Empire State Manufacturing Pre-market Tuesday Retail Sales Pre-market Wednesday Unemployment Pre-market Thursday Consumer sentiment 30 minutes after the market opens on Friday And I got to get in my 4.7 and my 6.7 Just posted my 4.7 in the calendar channel Build on my 6.7 Alright, just posted my 4.7 and 6.7 SPX still grinding lower Welcome, David Trade 12 New to Zero DTE Just put on your first trade in SPX Very nice How do you monitor how profitable the trade is? What broker are you using? If you're on TOS, I always just View the Analyze risk profile graph like I'm doing here You can just hover your mouse over it as it moves around Where price is, it kind of gives you The indication of how much you're up That's a good question, Mauro You got a bed for me in Italy You got a room for me So let's see, I've already got some trips scheduled I'll be in Newport Beach And then I've got a cruise Caribbean cruise scheduled in July And Mexico in September Is what I've got scheduled so far So I do want to I've never been to Italy I'm definitely going to make that happen Sometimes soon Yes, good Wi-Fi, that's key I've only spent time And it was just not very long It was in Spain I have not spent much time at all in Europe Spain and Morocco So I was in Morocco and then I went across the straight of Gibraltar And was in Spain for a while But that was a long time ago Naughty dog, you don't like the bone broth? It says You only want to mix it with about eight ounces of water though Because otherwise it's too watered down So I usually I have like a carton of some other stuff So I add that Because I like to make about 12 or 16 ounces But I like it I'll tell you what the best though My wife made some I actually got some bones from a local farmer And made it That was by far the best Trunch one is at the 80 straddle Trunch two is at 75-80 So I'd prefer To stay above 75 here I do have a Chad trade that's going to get stopped out here shortly It stops at 11.35 That one's trading at 10.30 So that one definitely needs a bounce There's that one stopped So I just got my trunch one And two for power hour Trunch three is going to be coming in shortly Trunch three looks like it maybe Could be 10 wide if we get in now See where this settles in Trunch three coming in On the 80s, 70s Canceling replacing Trying to get filled, filled at 4.65 70, 80s, 2-1 Settle a little reminder For my 4.5, I'll do that at 2.45 A few other positions here I've got my Euro short premium Still well centered Got an ES hedgehog that's up a couple hundred Got a couple MES short premiums That one's profitable after adjustments This one I just put on QQQ nice and centered That one's up about 27-ish percent Got a few ducks that are all doing good Time flies down a couple hundred Alright so 75-80 is the sweet spot 80, closer to 80 Preferably The old hockey stick I traded some ES a little bit today on the futures I got in basically After we bounced off the expected move the first time I came down, I added and then took some off It was looking nice and then it came back down I'm just up a little bit Still holding Thought after we kind of held above the expected move We might grind higher which it looked like That was the case There for a while but then it kind of fell apart Meach, can you post mine? January It's basically just the reverse of that Just like an upside-down hockey stick Can you post that? Early indication 370 million buy side There it is Well you got to kind of flip it too I'm not proud of it I'm coming, I'm coming for it I'm coming for SPX He got me the first couple weeks but I'll be back I'll be back Tronche 1 is up 25% Tronche 2 is up 18% Tronche 3 is up 17% Tronche 2 I got in at 4.95 3 bucks Reduce my Tronche 2 Sure does feel like a long time ago Vix popped above 23% And went straight to 12% Cody that is not a dumb question That is a dumb thing that I think your swim does for some reason So what you want to do is go up into your If you're looking at my screen Go up into the setup In the upper right hand corner Click on that, click on application settings Go to Display On the left hand column And then check this little box It says show underlying symbols instead of option symbols So you got to check that And that'll fix that issue For whatever reason by default That box is unchecked so it shows all the options In your current Instead of the symbols Tronche 1 up to 30% Looking for 40% to reduce my stop PN I'm sure Maro knows the answer to that I've heard him talk about that before But yeah that's kind of a Something you got to work around I don't use IB but Several folks here do so maybe they can help Also PN if you're not aware We do have an IBKR channel Where there's some stuff you can scroll through If you go up to It's a thread And it disappears after nobody's been Typing in it for a while but SPX hanging around 80 So that's a thread in the Trader Chat channel So if you go to Trader Chat And then you click on this little spool It'll display the threads Interactive brokers is one Thinkorswim is one Thinkorswim Analyze And then Something else Tronche 1's at about 30% Tronche 2 at 20% Tronche 3 at about 17% That's a beautiful sight Ken When you see that it's just beautiful Your colors are different than mine Can you change these colors? I've got more of a teal and a pink You've got more of a green and a purple Still 370 million to the buy side On the early indication My reentry iron condors They've been good But again, I just kind of use them as More discretionary And so I think probably What I'll do is Instead of just Having those kind of turn on randomly I think I'll probably just Continue to Use Kind of more of a Chad price action strategy To Look for a push and then consolidation And do that instead of My bought re-entries I didn't do any re-entries today Oh sorry Andrew Kay I missed I missed that Yeah so I was Familiar with the concept of it But it wasn't until I started looking at financial juice And I saw that they reported it I never really had a good source That reported it Like they do live Kind of the early indications and so You know once I Started watching financial juice It kind of got me to thinking If A it was something that We could use for power hour And then I just kind of started Watching it I put together that Sheet and the That I did in the little course And so it's just been something I've been watching a lot closer Since I started using financial juice Still hanging around 80 which is good 4780 Trunch ones at 37% Getting close to 40 Just trading at 5 bucks I need 470 And it's almost time for My 4-5 So there's my 4-5 double diagonal Alright just posted my 4-5 Alright Mr. SPX Getting a little excited to the upside A little too excited to the upside Alright so market On close and balance is coming out In about 3 minutes David trade if you go down To the bottom here and click on your On your order book And just And change this drop down to working Orders Or If you don't have a working order I guess you can just Highlight the strikes on your Analyze tab here that you want to That you want to close so if I wanted to close This one I'd hit that one And then shift click that one And then you can do right click Create closing order And then just click buy it back Colorado Fantini Welcome welcome We sent out the email link It's not in discord But it's a it that's just a high level Overview of Zero DTE stuff if you go to the Zero DTE course channel which is 2 channels Up from here where you're at Those that's where the actual Detailed strategy courses are Reduce stop on trunch one And I'm getting ready for the market Number which hopefully is nothing One billion buy side So I'm not going to do An MOC trade Nothing under three billion So reduced my stop on trunch one Didn't quite Haven't gotten there on trunch two yet Trunch two is on the 80 and 75 strikes So I need to get below 80 on that one Getting close to come down a little bit more Just a little bit lower There we go So, Trunch 1 is a straddle, so I'm going to take that off 5 minutes until the bell. Trunch 2 is 5 wide, Trunch 3 is 10 wide. Those both need a little bit of a down move though. So I'll make a decision within the last 5 minutes on when to close those. I do not reduce my stop on Trunch 3, LaSosa. We could just snuggle back down to Mr. 4780. That'd be preferred. I'm going to lower a minute until I bail on Trunch 1. No, go in the wrong way. That's the wrong way. There's a stop sign up there. You got to go turn around, go back down. Alright, so getting out of Trunch 1. See if we can get a little drift lower. I'll close out Trunch 2 and 3. Still going the wrong way. Trunch 2 and 3 just went red. Trunch 2 just got stopped. Still in Trunch 2 and 3, they just went slightly red. Oh, I did get stopped out of Trunch 2 after I reduced the stop. So minus 650 on Trunch 2. Still in Trunch 3. Would like to get down closer to 80. Under 80 would be beautiful. Yeah, Corrado, it's not, like I said, it's not. That was just a overview of ZeroDTE that I did. So you were emailed that link. That's not in Discord. But you have access to the step-by-step strategy courses in the ZeroDTE course. You don't, I don't know, unless you're looking for something specific from that presentation. Or maybe Corrado's not on the live stream. Alright, two and a half minutes to go. This PX currently at 47.83. Use a little move lower, a minute and a half. You know, it's not going lower. It's going the wrong way. A little less than a minute. Hovering right around my breakeven. Now pushing above. 30 seconds. There you go. I like the color red. That's what I was looking for. A little bit more. A little bit more. Bell in three seconds. Settling in a little bit of a markup. 83.85. So it looks like I'll make about 500 on Trunch 3. So Trunch 3 and Trunch 1 were winners. 2,500 on Trunch 1, minus 650 on Trunch 2. And then plus it'll be, end up being about 500 when it settles, DKS 40%. And my AM winner. So green day to head into the long weekend, my friends. So make sure you check the live stream channel. So next week, obviously the Monday, Monday the mark's closed. The rest of the week, Tuesday, Wednesday, Thursday, Friday, Chad will be streaming live in the morning, but we won't be streaming live for power hour, although, depending on what happens with Chad's doctor visit and his voice, Chad may be running the power hour next week. So keep an eye on that schedule. We'll update you there. And everybody have a good weekend. Talk to you soon.