Fiblines make music

Welcome back Traders and Wealth Builders.

With this blog post, I am hard at work on my next quarterly release of the Fiblines indicator.  It should be due out in late 2015 or early 2016.

I was surprised to to find that my interpretation for Apple Computer - the single largest capitalization stock out there - was out of date and ready for a refresh.  My new interpretation is shown on the left on a weekly chart.

Updating the levels is a lot of work, but also very gratifying when you find the right interpretation. When you see how prices react to the lines, it just 'clicks'.  It can be likened to art or music, when it works, it feels right on multiple levels.

Here is a few other things I have been up to recently related to the Thinkorswim platform:

- Add time frames for the 39 minute and 78 minute bars.

The reason for this is there are 390 minutes in the trading day and 39 minutes is a multiple as is 78.  And since much of the trading world uses 5, 15 and 60 minute bars, this will give you a leg up on market direction in the intermediate time frames

- Add the LBR paint bars to your charts

This indicator is named after Linda Bradford Rashke a former floor trader and market pro.  I could do an entire blog post on these bars, but they really speak for themselves.  In fact the combination of Fib Lines and LBR Paint bars make your charts a thing of beauty, check it out.

Here's a cool feature of Thinkorswim I just found today.  Bring up TOS on 2 separate computers side by side.  Bring up a chart on one and watch what happens on the other - cool!

Finally (and not related specifically to Thinkorswim) I signed up for BIAS - The Bruce Income Advisory Service from the Simpler Options Web site.   Bruce is a former Hedge Fund Manager and has been managing money professionally for several years.  He aims for 10-20% for year which is a lot less than the 200% plus returns produced by Carter.  But unlike Carter, he tells you everything he does with specific trade parameters and opening and closing values.

BIAS costs $97 per month and I paid for the first month's service with 1 trade on 1 contract lasting less than 10 days.  That trade was not typical and his trades usually last closer to 30 days.  But since I joined, I did my first Butterfly, and my first Calendar both of which were closed this past week at a small profit for that set of trades. But we have some other trades on for December expiry which are looking good.  I feel like I'm finally on right track to growing my wealth using options versus my prior experience which has been hit or miss.  Time will tell.

Finally, you can get my Fib Lines lines indicator for Thinkorswim - while they are still free.  Just send an e-mail to fx-mon@yahoogroups.com.

Thanks for reading and have a great week.