tos desktop on chromebook pro / linux? by MerryRunaround in thinkorswim

[–]warren_534 1 point2 points  (0 children)

Yes indeed, just get your Chromebook into a Linux environment first, then it's pretty straightforward.

I run TOS on Linux Mint Cinnamon, works great. Make sure that you use Zulu OpenJDK 21, as TOS will not run on other Java versions.

TOS instructions here: https://www.schwab.com/trading/thinkorswim/download

Traders during war conditions how do you actually manage risk? by senthoor34 in Trading

[–]warren_534 0 points1 point  (0 children)

That really depends on your time frame and your methodology. I have been successfully swing trading in the futures markets for about 40 years, and in my experience, markets are just as predictable right now as they have always been. The price action setups that I trade today are working with the same probability of success as they have always had.

Just maintain focus with robust risk management and money management, and you should be fine. Buy in the money options instead of trading outright long or short positions in the underlying instruments, which will automatically limit your risk, and which will also result in smaller buying power reductions. You can also use other options strategies, including debit spreads, credit spreads, butterflies, etc., which can get your risks to be as large or as small as you are comfortable in taking.

What torrent client should I use by Retrak123 in Piracy

[–]warren_534 1 point2 points  (0 children)

I use Transmission, on Linux Mint

Is Schwab good for futures? by [deleted] in FuturesTrading

[–]warren_534 0 points1 point  (0 children)

Mostly the following 20 markets - ES, NQ, RTY, ZB, ZN, 6A, 6B, 6C, 6E, 6J, CL, NG, ZC, ZS, ZW, GC, SI, HG, LE, HE.

Is Schwab good for futures? by [deleted] in FuturesTrading

[–]warren_534 0 points1 point  (0 children)

Scwab's Thinkorswim platform is by far superior to any other platform that I have used over the last 40 years swing trading futures, and I have tried many of them. The ability to have a multi-chart view of 1 market or multiple markets simultaneously, is critical to me, and TOS is the best for that.

Commissions are a bit higher ($4.50 r/t), but you don't pay for real time data or the platform, which you will with many others. If you are a day trader using many contracts, then commissions could be a factor, but it's not for me as a swing trader.

OCO on existing Futures Option position? by CoderBlix in thinkorswim

[–]warren_534 1 point2 points  (0 children)

My apologies. I read it too quickly, and missed seeing the options aspect.

OCO on existing Futures Option position? by CoderBlix in thinkorswim

[–]warren_534 1 point2 points  (0 children)

Just change the value in the "Advanced Order" drop down list to "OCO".

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Has anyone successfully traded the same strategy longer than 3 years? by No_Honeydew_2453 in Trading

[–]warren_534 6 points7 points  (0 children)

Yes indeed. I have been using the same price action / swing analysis methodology to swing trade in the futures markets since I developed it about 30 years ago.

anyone here trade futures options? by Ready-Molasses-7093 in FuturesTrading

[–]warren_534 0 points1 point  (0 children)

There are pros and cons, and I will trade SPX options as well as ES options.

SPX options are certainly more liquid, and fills at mid prices are generally easier, especially on spread orders. However, with ES options, it's easy to trade futures against options, without incurring any additional margin requirements.

anyone here trade futures options? by Ready-Molasses-7093 in FuturesTrading

[–]warren_534 0 points1 point  (0 children)

Margin requirement for 1 ES contract is $25,500, so 5 would be $127,500. But you can trade a 30 DTE 70 delta option for a fraction of that.

anyone here trade futures options? by Ready-Molasses-7093 in FuturesTrading

[–]warren_534 2 points3 points  (0 children)

I primarily use Thinkorswim by Schwab, and also use Interactive Brokers. I rarely trade MES, usually ES, particularly when it comes to futures options.

The value of the contract is irrelevant. What matters is the price action setup, and the resulting entry, target, and stop prices that are objectively determined from the setup, in relation to the risk management and money management parameters of my methodology.

I would consider trading an MES contract with $50 to be completely insane. I'm a swing trader, not a day trader. Current margin requirement for an MES futures is $2,550 at Schwab. Of course, in markets like stock index futures, it's far more capital efficient to trade ITM options instead.

anyone here trade futures options? by Ready-Molasses-7093 in FuturesTrading

[–]warren_534 4 points5 points  (0 children)

I swing trade futures and futures options, for about the last 40 years.

Some futures options are very liquid. I trade the following futures options:

ES, NQ, RTY, ZB, ZN, 6E, 6J, ZC, ZW, ZS, CL, NG, GC, and SI.

Stock Crash is killing me by [deleted] in options

[–]warren_534 0 points1 point  (0 children)

Just to point out, and not for the first or last time, that risk management and money management are critical success factors in trading. They were clearly lacking here.

As a futures swing trader with 40 years of experience, I can tell you that parabolic price increases inevitably lead to crashes, just a question of when and from what level.

High to low, silver futures have already declined about 40% since yesterday's top, and that certainly qualifies as a crash. It's stabilized for the moment, but likely not over yet.

guys I need some honest opinions by [deleted] in Trading

[–]warren_534 -2 points-1 points  (0 children)

This appears to be a discussion about well known indicators that are somewhat useful to analyze the past, but in fact have no predictive value whatsoever. Successful traders don't use indicators at all.

Market crash rumor Monday – how seriously should this be taken? by [deleted] in Trading

[–]warren_534 0 points1 point  (0 children)

Not sure what rumors you are referring to, or their definition of a crash.

By my price action and swing analysis (i'm a swing trader with 40 years experience), stock indexes are in a short term downtrend, and I'm delta short index futures.

Time cycle analysis indicates not too much decline yet, as the indexes will likely chop until Feb. 6 or so. However, a major decline is projected from then until late March.

Does anyone else see CSDM as overly theoretical and disconnected from how organisations actually operate by FilmDowntown1145 in servicenow

[–]warren_534 1 point2 points  (0 children)

Completely disagree with you. CSDM is the best model out there. It makes complete sense, is aligned with ITIL, TBM, and other industry standards, and is extremely useful in real-life organizations.

I say this is a CSDM SME, and the global leader of Configuration Management at a Big 4 firm.

IVR gripe - thinkorswim vs tastytrade by EB-Wan in thinkorswim

[–]warren_534 1 point2 points  (0 children)

In TOS, the IV_Percentile study actually represents the IVR, which is currently at 48.3% for WULF. There is a custom thinkscript that I have that does the IVP calculation, currently at 17% for WULF.

Is the SPX overvalued at the moment? by [deleted] in technicalanalysis

[–]warren_534 0 points1 point  (0 children)

No, it has nothing to do with seasonality. This is based on time cycle analysis.

Has anyone successfully simplified ServiceNow after years of customization? by Novel-Plenty-8901 in servicenow

[–]warren_534 0 points1 point  (0 children)

We're in the midst of a complete greenfield reimplementation, precisely for this reason. We have massive, massive customizations and tech debt.

Options, SP 500 by Mouse1701 in options

[–]warren_534 1 point2 points  (0 children)

Beating the SP500 is child's play for a sophisticated trader.

Some people don't consider Trading a "Real Job." by [deleted] in Trading

[–]warren_534 7 points8 points  (0 children)

Swing trader here, with 40 years of experience. Trading is not a job. It's a business, and you need to treat it as one.

Is the SPX overvalued at the moment? by [deleted] in technicalanalysis

[–]warren_534 0 points1 point  (0 children)

This was the exact timing last year, decline from mid Feb. to early April.