Dan Scott said:

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AAPL has a RSI of 17. Wow

Also trading near support. Good risk/reward to me

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I'm in

I'm an extreme novice at trading. Is there an online class someone can recommend? I see a lot of recommendations for books as well. Is that a better option?

Chicago exchange has a lot of free lessons to introduce you how things work.

https://www.cmegroup.com/education/courses.html

I spent some time in there when I first discovered the thread. I would also recommend going to page 1 and reading through the first 20-30 pages . There was a lot of charting back then and some great reference materials as well.

PGAG said:

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I'm an extreme novice at trading. Is there an online class someone can recommend? I see a lot of recommendations for books as well. Is that a better option?

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Dan Shapiro's PS60 is what I and several others here are a part of or have been in the past.

https://accessatrader.com/

Thank you both!

PGAG said:

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I'm an extreme novice at trading. Is there an online class someone can recommend? I see a lot of recommendations for books as well. Is that a better option?

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You will learn a lot here. When someone posts a trade idea, look at their chart or ask why they are doing what they are doing. Note their targets, stops (some don't set stops, would highly recommend not following them if you dont know the risk involved), strategy, and style. Follow-up with it regularly. Ask questions along the way. Start to develop your own gameplan and style once you start to recognize patterns, setups, fundamental viewpoints, etc. Log all ideas, entries, exits, successes, and failures. Continually revisit your log to try and figure out what went right and wrong.

Nobody got successful reading a book. I highly recommend reading books, taking courses, watching videos, being a sponge. But you wont get good that way. Successful trading takes years of study, practice, application, failure, recalibration, adapting to new things you learn, etc. None of us here who consider ourselves successful at this got there from doing what someone else does. I personally spent a decade learning fundamentals, technical trading, and failing hard at every step before I found a methodology that worked for me. Even then, it took nearly half a decade to learn the exact strategies that Im good at and that work best for me. And I NEVER stop learning or seeking out new things.

Just sold half the IBIT puts for 100% profit on cost to get risk free for the total position. Letting the rest ride until ED reversal completes in the mid $84k's. If you are holding all still, watch for possible support around double bottom on recent low. If it holds, consider taking a portion or all of cost out to limit risk. If it blows through, I recommend selling at a reliable 5-wave finish for [5] from today's [4], or ED reversal completion as noted above. Chart illustrates target below using BTC.

Heineken-Ashi said:

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Just sold half the IBIT puts for 100% profit on cost to get risk free for the total position. Letting the rest ride until ED reversal completes in the mid $84k's. If you are holding all still, watch for possible support around double bottom on recent low. If it holds, consider taking a portion or all of cost out to limit risk. If it blows through, I recommend selling at a reliable 5-wave finish for [5] from today's [4], or ED reversal completion as noted above. Chart illustrates target below using BTC.

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If I'm holding IBIT, would you recommend selling until it finds a floor or just leave it as-is to ride down and back up?

Edit: Hadn't noticed it's already down below 88k already. I'd probably screw it up if I mess with it so I'm inclined to stay in unless anyone convinces me otherwise.

Jeeper79 said:

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Heineken-Ashi said:

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Just sold half the IBIT puts for 100% profit on cost to get risk free for the total position. Letting the rest ride until ED reversal completes in the mid $84k's. If you are holding all still, watch for possible support around double bottom on recent low. If it holds, consider taking a portion or all of cost out to limit risk. If it blows through, I recommend selling at a reliable 5-wave finish for [5] from today's [4], or ED reversal completion as noted above. Chart illustrates target below using BTC.

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If I'm holding IBIT, would you recommend selling until it finds a floor or just leave it as-is to ride down and back up?

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I did my best to explain that in the post you quoted. I'll make it even easier.

It's already made a new low. The [5] which shows as a 5 with a circle around it (cant type it out that way) is the max BTC price target when I formulated the position. The entire trade was constructed for that exact expectation, and I expect it to hit. But nothing is a guarantee. At this point, you should hold until it does. But I doubt it goes in a straight line. If the psychology of losing any portion of the profits you currently hold has you sweating, then sell a portion leaving an amount that allows you to rest easy should BTC rocket from here and never go lower.

Anyone eyeing WING or RDDT on this bounce down?

Thank you.

The IBIT puts recommended were for February. Here's another way to look at it..

They are currently priced at $2.90. Original cost was ~$1.30. You should be well over 100% profit. The strike was $51 and IBIT is at $49.75. That means there's $1.25 of intrinsic value (the price the contract would be should it expire today). That means that $1.65 of the current contract value ($2.9 - $1.25) is time premium and volatility premium baked in on top. Upon expiration, all of the time and volatility premium melts away until only the intrinsic value is left.

Max target was IBIT $47.85. That would give intrinsic value of $3.15 per contract at the point of expiration. If that price happened right now, the contract probably sells for $4 due to time and volatility premium baked in. Every day that goes by can and will subtract time premium. So ultimately, the plan should be to sell for $3.15 on 2/20, or some amount higher should target hit before then, likely as high as $4.

But again, though probability is high for target to hit, anything is possible. Taking some original cost out while premiums are elevated to reduce risk is always recommended. Being greedy is for people who don't know how to consistently win.

PGAG said:

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I'm an extreme novice at trading. Is there an online class someone can recommend? I see a lot of recommendations for books as well. Is that a better option?

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If you have a Schwab account and TOS, then they have excellent tutorial videos at your disposal for free. I recommend those too.

Thank you! I'm hoping that you're never too old to learn this kind of stuff. I'm retired so obviously not risking huge money. Hoping to start small and practice.

Thank you

Are you going to eye a long position on it or nah?

Yukon Cornelius said:

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Are you going to eye a long position on it or nah?

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Probably not. I think once this ED reversal completes in the mid $80k's we get a corrective lower high bounce and then go much lower. Until that invalidates, I'm in no rush to go long. There is no bullish setup for BTC right now.

I bought some WTTR. Should I set a stop loss on it? I've seen several people mention those. Seems like a good idea. And I apologize for the stupid question.

PGAG said:

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I bought some WTTR. Should I set a stop loss on it? I've seen several people mention those. Seems like a good idea. And I apologize for the stupid question.

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I would. But unfortunately, I can't recommend higher than $9.99 for stop until it gets above $13.75. Once it does that, stop can move to $10.98.

While the pattern is looking good, it can still choose to get choppy and overlapping. And as long as higher lows continue to hold, it can still go up even if choppy and overlapping. Just needs more strength to guarantee a higher stop won't get you shaken out and regretting it.

Gotcha. If it drops down to the 200 dma I'll probably sell my btc and convert it to ibit. Reason being much lower cap gains then anytime the last year or so.

I'm just looking at wttr for the first time ever. Don't know anything about the company, just pulling up chart on yahoo finance and talking you what I see:

On the daily it's right at resistance that it rejected Aug 1, end of Oct/early Nov, and over the last few days. Could push through it but in my mind the smart money would be selling here.

Forming an ascending wedge since end of October. This is a bearish pattern

Rsi (daily) pretty heated. Generally a sign is running out of steam.

Of course it could push through and you'd be looking for 14ish to encounter next resistance, but it's already had a failed breakout today so until it breaks through, turns 12 resistance into support and tests that support to confirm, I would expect to see 11 again before you see 13

I'm not an expert or a great trader or anything, just offering my simple perspective on it. Also pretty sure it will moon now that I wrote all that

Edit: h-a likes the chart lol...guess I need to look deeper

GeorgiAg said:

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Brian Earl Spilner said:

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AMD approaching my first target for taking profits. (249.95)

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I'm only up 109.5% since 2023. What a garbage stock.

If you sell now, what price are you looking to get back in at? If you are?

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I'm still holding about half my shares, but if it falls below that gap around 216, I'm adding more. And certainly at 200.

But I would say AMD, NVDA, TSM, and AAPL are the only stocks in my portfolio right now that I am not planning on selling and will only accumulate more from here.

For SMCI, ORCL, and ADBE, I'm looking to ride up and sell.

ARM - Due to the overlap, I can only see a structural climb in the format of a leading diagonal (higher lows that overlap previous highs). This means that being in can be whiplash for a while. It also means that new lows arent out of the question, so stop is important.

Brian Earl Spilner said:

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GeorgiAg said:

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Brian Earl Spilner said:

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AMD approaching my first target for taking profits. (249.95)

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I'm only up 109.5% since 2023. What a garbage stock.

If you sell now, what price are you looking to get back in at? If you are?

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I'm still holding about half my shares, but if it falls below that gap around 216, I'm adding more. And certainly at 200.

But I would say AMD, NVDA, TSM, and AAPL are the only stocks in my portfolio right now that I am not planning on selling and will only accumulate more from here.

For SMCI, ORCL, and ADBE, I'm looking to ride up and sell.

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Thank you. I'm in all of those except for ADBE. I'll check it out.

TRUMP: WE HAVE FORMED FRAMEWORK OF A FUTURE DEAL WITH RESPECT TO GREENLAND

— *Walter Bloomberg (@DeItaone) January 21, 2026

🚨 TRUMP: BASED UPON THIS UNDERSTANDING, I WILL NOT BE IMPOSING TARIFFS THAT WERE SCHEDULED TO GO INTO EFFECT ON FEBRUARY 1ST

TRUMP: SAYS AFTER RUTTE MEETING: WE HAVE FORMED FRAMEWORK OF A FUTURE DEAL WITH RESPECT TO GREENLAND

— *Walter Bloomberg (@DeItaone) January 21, 2026

No tariffs will occur

Rocketship engaged...

What just happened?

Greenland. Green stocks.

techno-ag said:

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Greenland. Green stocks.

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TACO trade comes through yet again, easy money.

The crispy bazooka TACO.

Gaeilge said:

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Pretty decent call buying on SMCI. Above 33, and it can get some stretch.

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Exploded back to 32.60. Let's go baby!

INTC is crazy into earnings. 60+ into option exp

Hill08 said:

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INTC is crazy into earnings. 60+ into option exp

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This thing looks like it's going to keep on keepin' on. I'm so tempted to get into some long dated calls.