A quick guide to utilizing Dino the Day Trading Dinosaur’s tweets
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How does the watchlist work?
Simple. The option contract and when the alert triggers is given.
If no date is given, it’s always the nearest expiration
For example, $AAPL 150c>140 means take the 150 call contract expiring this Friday when Apple’s price goes over 140
For $SPY, $QQQ, $SPX same applies.
Ie. $SPX 3900p<4000. Means take 3900 put expiring today/tomorrow when price breaks below 4000
What about gap ups and gap downs?
If a ticker gaps on the trigger price level, then that ticker is void for the day. The levels are still valid, however, it invalidates the watchlist ticker
Ie $AMZN 120c>115
It gaps to 118 premarket for the open. $AMZN is now void.
How do the results on the trigger list work?
The option price is taken the moment the ticker price breaks the watchlist price for entry. Exit is based on high after the trigger.
Price has to reach at least 20% gains before it’s considered a win.
For example, $NFLX 260c>250
Price breaks 250 at 10:03am, the 250c option price trades at $2.00 at that moment. Around 12:00, price hits $3.25 on the option. And that’s the high for the day.
That is a win giving a result of 63%
(3.25 exit minus 2.00 entry)/2.00 X 100 = 62.5%
What is #DinoAlert?
It’s a trade that I actually take in my own account. I try to alert in less than a minute. However, if you wait for my alert, you will almost never get as good as a fill. Same goes for exits.
Ok, so which ticker/trigger should I take?
Up to you! I can’t take all the trades most days. I have the watchlist setup so any trade can be taken. In other words, there is no “best trade” of the watchlist. If I put in on the watchlist, I’m willing to take the trade myself.
Most days, DinoAlerts will only come directly off the watchlist. However there will be days I take more discretionary trades or something I may have missed for the Watchlist. Other examples include, gap days, news event days, and massive move days
What about support/resistance plays on the watchlist?
These are more discretionary. They are still setup the same. Meaning if it triggers, it triggers for the results list no matter what. Even if the trade is completely going against the market, I still count it in the results.
Ok so when do I take a support/resistance trade?
This is for more advanced traders as it’s not as black and white.
Ie $AAPL 150ish holds 155c
Means if price comes down to the 150 area and holds, take the 155 call. It could come down to 150.37 or it could be 149.89.
But just because it pulls back to the trigger level it could keep going. Using the $AAPL example, you never know if 150 will actually hold. Maybe it heads to 147 and the trade is an immediate loser. This is where the overall market and more advanced trading come in
Throughout the day I’ll give my input and what’s going on with the broader market as well as individual stocks. This doesn’t mean I’m trading something. Just observations, things that could possibly happen, and what to look out for as a few examples.
This is too confusing. Can you just tell me what ticker to take and how to trade it?
No! If you are following me. Learn from me. Just because I trade a certain way doesn’t mean you will like it or want to trade that way.
I don’t care, I just want to make money!
No free lunch here homies. Go play the state lottery. I’m here to teach and coach
If you don’t want to put in the work and effort go do something else
Do you follow other traders or copy their trades?
No. But..
Levels are not rocket science. If you watch the traders who know what they are doing, we all have similar trigger levels and will be watching similar stocks and setups.
What do the colors and lines mean on the charts?
Purple is a minor support/resistance level
Yellow is a major resistance level
Typically upward/downward trend lines are dashed in yellow
Do you look at technical shapes, like triangles, wedges, flags, etc?
Yes, but not exclusively. I try to line up support/resistance levels with trend lines and shapes.
How much money do I need to trade options?
If you are asking me this, I’m not the right person to follow. You need more education. I’m not here for total green newbies that know next to nothing about stocks/options and trading in general.
Ok, I know some basics like what calls and puts are…can I still benefit from following you?
Maybe and maybe not. It’s up to you to do the deep dives on why I put a ticker on the watchlist and why I take the trades I do.
Lots of information. What do you suggest I focus on?
There’s no right answer and it’s different for every person. For me and how I trade, some things to learn
1 basic Greeks: delta, gamma, theta
2 money management
3 how support/resistance levels work
4 how to draw s/r levels
Do I need to learn about broader macro stuff?
Yes it’s important to learn about $SPX $QQQ levels. Then for options it’s super important to understand how market volatility works as well as implied volatility (IV) on individual tickers
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