Green Goose Trader has had an interesting journey since its inception in April 2021. Originally, its focus was based only on educating readers on trading US equity options in and around earnings. It still is, but keeping subject matter that is in tune with earnings releases and the real time market has been challenging as 95% of earnings occur in the first 6 to 8 weeks of each quarter. Secondly, more than 50% of the readers of this substack are from Europe and Asia, where trading US Equity Options is “foreign” and more difficult due to time zones.
My style of trading is technical - I apply my own style of technical analysis to multiple asset classes (Equities, Forex, and Index CFD’s). Therefore, in this last earnings “off-season,” I have attempted to provide some of the foundations of how I approach directional trading. I hope it has been useful - I’ll continue this effort.
Premium readers of this Substack receive real time alerts before I enter an order. I personally trade all of them and report out audited results. For the first two weeks of 2023, here is a summary:
GG Overnight Gap System (US Equity Options). This is actually an alert service in a separate substack. You can be a premium subscriber to this system independently. But note that all premium subscribers to Green Goose Trader receive complementary access.
Earnings Season - Winter 2023 (US Equity Options). There are a total of 35 pre-planned ER plays this season. Five were provided to premium subscribers in last weeks post. I played three of them - (one is till open) as the risk to reward was poor on two of them. Here they are:
UNH - No entry as the risk was higher than my $250 threshold.
TSM - Initial risk was $216 on an Earnings Iron Condor. TSM had an outsized move up after ER on Thursday. At the end of the day, I exited the call portion at a $96 loss and held onto the put portion, which expired worthless.
JPM - Initial risk on this Earnings Iron Condor was $196. JPM was very interesting as it had a large gap down and ended up with a bullish engulfing candle. The day’s trading range was massive $7.41. The trade expired worthless for a $105 profit.
GS - No entry as the risk to reward was poor.
MS - Entered an Earnings Iron Condor on Friday near close for $244 risk. This is still in play. ER is scheduled for before market open on Tuesday. The plan is to exit win or lose on Tuesday near market close.
Risk Graphs courtesy of TomsOptionTools.
Swing Trades (US Equity Options)
EBAY - Alert provided on January 3rd in the last 20 minutes of market open. I bought four x EBAY Feb17 $45 calls for $1.25. On January 6th, my GTC order to sell two contracts for $2.50 was filled. I entered a GTC stop loss order at that point to sell the remaining contracts at my entry price of $1.25. On January 11th, I sold one contract for $3.45 and converted the remaining long call into a spread by selling one x EBAY Feb17 $47.50 call for $2.00. I have now locked in $545 in profit (109% ROI) have have the opportunity to earn an additional $250 if EBAY is over $47.50 on expiry.
CRM - Alert provided on Friday. Trade in play. My prognosis will be wrong if this stock breaks resistance. If I’m wrong, I’ll exit at a loss. If I’m right, I plan on adjusting to a spread.
FOREX Trades based on my personal daily candle system (partially reviewed in the last three posts)
AUDJPY - This alert was provided on January 9th via the Green Goose Traders Telegram channel for premium subscribers. My plan for position sizing, entry timing, stop loss, and trade management was provided. I entered the trade just before the daily candle close. My system gave an exit signal near the daily candle close at 5 PM New York time on Wednesday, January 11th. This trade was closed for a profit.
EURUSD - This alert was provided on January 9th via the Green Goose Traders Telegram channel for premium subscribers. My plan for position sizing, entry timing, stop loss, and trade management was provided. I entered the trade 10 minutes before the daily candle closed. My GTC order to sell 1/2 of the position was filled during my night on January 12th. When I woke up, I moved the stop to my entry. At this point, I have profit locked and a 132 pip trailing stop in.
GBPCHF - This alert was provided on January 12th via the Green Goose Traders Telegram channel for premium subscribers. My plan for position sizing, entry timing, stop loss, and trade management was provided. I entered the trade 10 minutes before the daily candle closed. This trade is currently in play.
Note on my FOREX broker. I primarily use Blueberry Markets via MetaTrader 5. These guys are by far the best I have found, with very tight bid/ask spreads and outstanding customer service. The only caveat is that they don’t accept US customers.
For more info, check them out…
Summary of Account Performance to Date (1 - 15 January 2023)
My daily trading window is approximately 1 hour - from 3:45 until 4:45 PM. Options analysis takes 15 minutes and then trades are both entered and closed just before 4:00 PM and FOREX analysis also takes 15 minutes and trades are both entered and closed in the 15 minutes before 5:00 PM. Here is a summary of all of my trades as alerted to premium members.
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