The purpose of this is to document and track my trade plan for ATT. This is not financial advice and these are not plays.
Nomenclature: Accumulation to me is the acquisition of "free" shares that are paid for by profits on trades. I.E. If I buy 100 shares and sell 80 at 20% profit, the remaining 20 are "free" since my initial entry cost was recovered. If I do this 5 times, I have 100 "free" shares.
The Rules (Cause trade plans need rules.):
1. Upon entering an option position, a GTC order to sell at 20% profit (after fees) goes in immediately. Runners will only be a thing when 5+ contracts are purchased.
2. Stop losses are determined but do not go on the tape.
Indicators:
13/48EMA Daily
50/200SMA Daily
30SMA Weekly
SRChannels
Volume Profile
RSI
DMI
MACD
Stupid Willy
Cumulative Delta Volume.
Fibonacci retracements, extensions, channels with proprietary levels.
Trading methods:
Weinstein
Wyckoff
The idea to trade this popped on the radar when I was notified by a co-worker that ATT dropped to a ten year low. After looking at the chart, I saw a potential opportunity to utilize what I learned since the Gamestop sneeze and I do not mind holding ATT long term should a trade go horribly against me.
The goal initially was to swing trade an overreaction by the market and snag some dividends before exiting with a small profit. The Weinstein SMA(Burgandy MA Line) indicates an accumulation phase beginning so there is a possibility of scalping more alpha.
Comments in Orange are explicitly for Weinstein and Wyckoff commentary.
Random drawings will be fib levels and other artifacts from indicators that are off to clean up the publish.
Nomenclature: Accumulation to me is the acquisition of "free" shares that are paid for by profits on trades. I.E. If I buy 100 shares and sell 80 at 20% profit, the remaining 20 are "free" since my initial entry cost was recovered. If I do this 5 times, I have 100 "free" shares.
The Rules (Cause trade plans need rules.):
1. Upon entering an option position, a GTC order to sell at 20% profit (after fees) goes in immediately. Runners will only be a thing when 5+ contracts are purchased.
2. Stop losses are determined but do not go on the tape.
Indicators:
13/48EMA Daily
50/200SMA Daily
30SMA Weekly
SRChannels
Volume Profile
RSI
DMI
MACD
Stupid Willy
Cumulative Delta Volume.
Fibonacci retracements, extensions, channels with proprietary levels.
Trading methods:
Weinstein
Wyckoff
The idea to trade this popped on the radar when I was notified by a co-worker that ATT dropped to a ten year low. After looking at the chart, I saw a potential opportunity to utilize what I learned since the Gamestop sneeze and I do not mind holding ATT long term should a trade go horribly against me.
The goal initially was to swing trade an overreaction by the market and snag some dividends before exiting with a small profit. The Weinstein SMA(Burgandy MA Line) indicates an accumulation phase beginning so there is a possibility of scalping more alpha.
Comments in Orange are explicitly for Weinstein and Wyckoff commentary.
Random drawings will be fib levels and other artifacts from indicators that are off to clean up the publish.