All Star Charts is excited to announce a thrilling collaboration with the Chartered Market Technicians Association and Centerpoint Securities. Together, we aim to discover the finest trading talents in Southeast Asia.

In the company of my esteemed All Star Charts partner, Steve Strazza, I am thrilled to embark on a remarkable journey spanning eight cities across seven countries over the course of 21 exhilarating days this July.

During our travels, Steve and I will have the privilege of sharing the stage with numerous local experts. Together, we will deliver captivating presentations on the art of technical analysis and delve into the intricate realm of the trader mindset. These enlightening sessions will take place in a diverse range of venues, providing a unique opportunity to explore the fascinating world of domestic stock and futures markets through the lenses of traders from various backgrounds and perspectives. Needless to say, we cannot contain our enthusiasm for this incredible experience!

But that’s not all! [Read more…]

I recently read a book that was recommended to me by a friend in my traders meetup group.

Once I picked it up, I couldn’t put it down.

Here are some of my favorite quotes I continue to meditate on. I think you will also go down rabbit holes while pondering them… [Read more…]

Congratulations to the 2023 NBA Champion Denver Nuggets!

I’m a total bandwagoner, having never watched a Nuggets game in the eleven years I’ve now lived in Colorado. My first Nuggets watch was the first playoff game this year. And I watched every game the rest of the way.

My timing was pretty good.

What has stood out the most to me in the interviews and press I saw and read last night and this morning following the Nuggets win is how their journey to the top required tremendous patience and a focus on their edge.

And more patience. More sharpening of the edge. And then a little more of both after that.

The Nuggets organization knew they were building a winner. But it would take time. Time for the stars to develop. Time for injuries to heal. Time for missing pieces to be added. And time for the stars to align.

And while the rest of the basketball world was focused on sexier teams on the coasts, the Nuggets were quietly building a juggernaut – a nearly 10-year overnight success story that began taking shape following the drafting of Nikola Jokic from Sombor, Serbia (where?) in 2014 and Jamal Murray from Kitchener, Canada (where?) in 2016.

What gave the Nuggets the fortitude to press forward? [Read more…]

There was an inbound question to me this week regarding adjustments I make on short strangle trades.

For reference: A Short Strangle is a delta-neutral options position that consists of selling equal amounts of out-of-the-money naked puts and calls for a net credit. If everything goes according to plan, the underlying stays in a trading range and I can realize a profit buying back the short options for cheaper than I sold them.

Of course, it doesn’t always work out that simply. Many times, we need to play defense. Defense often involves rolling short options further away from the current price action. In practice, this means buying to close the existing short option and selling a further out-of-the-money option (in the same expiration series) for a combined net debit, which reduces my total net credit in the campaign.

The reader was asking me how I choose my “take profit” limit order following a defensive adjustment. Here was my answer: [Read more…]