The Opening Range $FB $TWTR

Something I could not force myself to do this summer was play the opening range, even when that is when most of the money is made. I was never confident enough to have a thesis to which way it was going. Considering the size of my small accounts, I have to play directional options on the long side. I don’t have the luxury of selling in stale environments. With my scholarship at Sang Lucci I have had the pleasure of being in a chat room with many established traders. After hearing about how they play/decide which direction a stock is likely to go I formulated my own system that I’m comfortable with and today I pulled the trigger on it. If you couldn’t tell from yesterdays post, pulling the trigger is the most difficult part for me.

The SPY gapped up today but was looking weak. When $FB couldn’t make it back to her high’s, I got into an ITM put.


While I normally focus on 1 stock at a time, $TWTR put in a nice flag and when it broke, I also entered an ITM put.


She was finally starting to roll over and I got to my risk mitigation point and locked in some profits on both $FB and $TWTR. Now it was just a waiting game to reach my main target.


While I tried not to get excited, the trade worked out exactly how I planned. I scaled out half at my profit target and left 25% to ‘run.’


The last 2 screenshots are of when I closed out my runners. While both $FB and $TWTR did retest their lows, my stop loss was the 13EMA on the 2min time frame and I was completely content to lock in my largest winning trade to date. I also have a dentist appointment in the next hour so I was going to wrap up everything and be flat the market for that anyways.


See you tomorrow.

Summer Is Over 9/2/14

I hope you all had a great Labor Day. Let this mark the start of a new direction for Finding Chezz. If you guys missed the previous post, I mention that I will be fully transparent in all the trades I take from here on out. Some of you might get insight from these posts but I think I am actually the one who will benefit the most. This forces me to analyze all the trades I take and figure out if I’m doing something wrong overall or it just was a trade that didn’t work out. Moving right along…

Last night I slept like crap. We went out with some friends for the holiday so we left the dog in the apartment for a few hours. My guess is he slept so long during the day he was unable to sleep. Needless to say, I’m the one who got to wake up at 3AM, 4AM, and 5AM to him fucking around. I’m highly against trading when I don’t sleep well (for fear of stupid mistakes). Not the way I wanted to start Fall.

Facebook was ripping off the open and I saw my first opportunity to enter on a pullback at 6:44AM. The price was in the 75.20’s. I passed on the opportunity (because I’m a wuss). It took the next leg up to 75.50’s about 4 minutes after that. It then put in another flag pattern and gave the signal to buy. I once again passed. Now she’s at 75.75. It consolidated for a while giving me about an hour to prepare to enter. A little after 9AM, she put in her move. 76 even. After I missed that move I said ‘fuck this’ and laid on the couch for a short nap. It is tough for me to remind myself that there are always more opportunities. The part I’m mad about is that I didn’t have the balls to enter on multiple occasions. That 30 minute nap turned into a 3 hour nap so I must have needed it. Guess where she was now? 76 and a HALF. My 74.5 weekly calls that I was ready to enter into at 1.25 and 1.40 were now in the 2.30’s. Lesson learned, take the trade when it presents itself to you. No questions asked. If it meets my entry criteria, pull the fucking trigger.

The 74.5 call pricing for the day:

Better Late Than Never

I guess it is time to write the conclusion. Prepare for some mind blowing conclusive writing that will surely stimulate all of your wildest dreams! I’m just kidding… but I digress. When I arrived home I was immediately thrown back into the same cycle of unhappiness. Looking back at it all, I know it was completely my fault for not pressing harder to do new and exciting things. I went to a gaming convention just after I got back and saw some friends. It was nice to meet up with people I know from all around the country. It was during that trip that I had an interview with Newegg for a gaming related position. Even though I did the entire phone interview hungover in front of our hotel, I still landed the job. I may be jumping a little bit ahead of myself. Prior to that, Kelly and I decided to give it one last try. We were easing back into it when I got the job offer. Looks like I was heading to California. Much to her displeasure I told her not to join me right away. As you’ll come to find out, everything worked out just fine.

So we packed up my car and off to California I went. I found an apartment in a quiet suburb near the mountains and started to work. Look at how excited I was to be a part of something I thought would be great.

Chezz, the excited Midwesterner with stars in his eyes. He was going to bring Newegg into the age of gaming with all his helpful recommendations.

Reality: The person in charge of the project was taken off of it while I was moving across the country. My start date was pushed back an additional 3 weeks just about. My first week I didn’t even have a boss to meet. I knew right then that this was going to be ‘interesting.’ Eventually I met my boss, who was also new. I figured we would bond together being new to this big company and pave our way for this project. I had a few weeks to gather my ideas about how to launch this thing… all of which were shot down. After that, I knew it was going to be a downward spiral. When you go to work 5 days a week and speak maybe 10 words to your boss in that entire time, something’s not right. We had a running joke while I was there that I was the unwanted stepchild of Newegg. Eventually I got moved to another team but it was the same crap with more reporting. I didn’t sign up for this but I moved across the country for it. So I made the best of it for as long as I could.

Somewhere in this story I flew home and drove Kelly and our new puppy out here. Funny part is that we made better time driving out here with the dog versus us driving here without the dog. I don’t know how that worked out but it did.

Long story short, I got a job that looked like a huge change for the better and it turned out to be complete crap. One cool thing about it was I got to commute on my motorcycle to work. I kid you not when I say that the ride to/from work was the highlight of my day.

So the work front was bad… but I was in California. It was 80 degrees on Christmas. I was surrounded by canyons and mountains so I took advantage of that.

The whole time I was at Newegg, I became interested in Bitcoin. A coworker and myself started trading it and this was when it was booming. You couldn’t really lose because it was just going straight up. This interested me so much that I spent countless hours reading books about how to trade stocks with the idea of applying it to Bitcoin or any other virtual currency. I studied harder during this time than I ever did in college which made me wonder… was this just a fad or was I genuinely interested in something that can be a potentially good paying job? I continued studying and to this date I further my education. By the end of July my time at Newegg was over. I’m taking the plunge trading stocks (stock options in particular) full time.

So there it is. The conclusion. The follow up to an epic adventure. I condensed an entire year down pretty well but if you’re interested to see how I fare trading stocks full time, stick around and check back often. I’m going to be completely transparent with all my victories along with my defeats.

Thanks again to everyone who supported me on my previous journey/continued journey. I am forever in your debt.

Day 53/55: Spokane to Montana to Wyoming to Chicago

I had a teacher in Jr. High School who would always go on rants about how his favorite place in the world was Montana. When the school year would wrap up he would take off and stay there for the entire summer. Even after 10 years I still remember how fondly he talked about it. That was the reason why I decided to venture east through the US instead of Canada.

Absolutely fantastic backroad riding. It hit me like a freight train that while people have been sitting at desks in offices for the past 2 months this has been my office.

Your office chair may be more comfortable than my bike’s but my chair can take me around the country in what felt like the blink of an eye.

I had planned on making it all the way to Mt. Rushmore that day but with the amount of mountainous riding there was no way I was going to make it by sundown. I hopped on the highway for the last 150 miles and arrived at my Airbnb just north of Yellowstone.

I had a small lapse of judgement during that 12 hour ride. One of my gas stops I forgot to fill up my tank. The normal routine entails filling up the gas tank and then using the bathroom. This particular time I drank a ton of water and the bathroom took the lead at this stop. Realizing I hadn’t eaten in 8 hours I bought some gas station snacks and headed back out to the bike where I ate my lunch/dinner. I saw a storm rolling in so I geared up and hit the road. I was wondering why after 85 miles my gas light went on. I really stretched this tank of gas. Good thing this didn’t happen in the more remote stretches of the trip.

As I got to my destination for the night I decided to eat something with substance. Belgrade, Montana, has some great places to eat. The Yelp ratings were all extremely high. I’m used to seeing the opposite most places I visit.

Some good conversation with my hosts, a last load of laundry, and then it was time for bed. I replaced stopping at Mt. Rushmore with driving through Yellowstone the next day.

I woke up an hour later than usual… to be fair I went into a different timezone so I actually woke up at the same time I always do.

Yellowstone was breathtaking. I will certainly be taking another trip there to spend some significant time. I wasn’t there to “see the sights” but more so to enjoy the ride and see what I could from the roadside. I’ll touch more on this in my closing discussion.

I had the pleasure of passing minivans the entire day but some things you can’t avoid. Another 1 lane construction road. I sat in this queue for about 25 minutes.

Once I got through that mess I ran into these big guys. They just walk across the road/stop in the road whenever they please. After all, this is their home. I’m the stranger… not the other way around.

After over 6 hours in the park I started making my way out the north entrance.

My entire day was planned around riding Bear Tooth Pass and it was worth the wait a million times over.

Type “Bear Tooth Pass” into Google Maps and zoom in to see the type of road it is. Twisty roads for miles on end winding up and down the mountains.

I once again was overcome with a strange feeling once I finished up that stretch of road. The highway was some miles ahead of me and I knew that my exploration was completed. That was the last place I sought to see before I was willing to go home. It was essentially over at that moment.

I had fun lugging all my gear up the stairs at the Super 8 I stayed at. You get what you pay for but I didn’t care. I wanted to try to join the “Iron Butt Club” the following day. Before you assume it’s some elite homosexual illuminati cult let me correct you. To join the club you need to ride 1,000 miles in a 24 hour period.

I was up at 5:45 and on the road by 6:30. This was the home stretch. If I completed this feat I’ll have proved that I was mentally and physically able to do something I thought I couldn’t and I would also be able to sleep in my own bed when I arrived. Failure would result in another crummy motel stay.

Not much to report. Luckily I had cell phone reception for most of the ride so I had music to enjoy. When I made it through Minnesota I turned off the music and decided to reflect for a while. Don’t get me wrong, I always look forward to gas stops so that I can get off the bike and stretch out. I laughed in the morning when I departed because the thought that ran through my head was, “Yeah, only 11 gas stops and you’re home.” ELEVEN GAS STOPS. That’s more than double any of my long days. I just kept chipping at the miles and it didn’t even seem that bad. The highway is boring as hell but I expected that. There were points when the wind was awful and I was just sideways for a good 250 miles but that passed as I got closer.

And then there it was. Achievement unlocked.

Morning:

Evening:

Stopwatch including stops:

I was still 125 miles away from home but had a very large grin for the next 50 miles. I can’t believe I did it.

That grin turned into a lot of cursing and profanity as I ran into 30 miles of 1 lane road due to construction which resulted in an average speed of less than 10 mph. It added an extra hour to my journey. I tried to keep my cool but at about the 16 hour mark of just sitting on a bike that is now over 200 degrees there is not much patience to be had. I’m proud to say that once I got through the bullshit 1 lane section I happily doubled the posted construction zone speed limit. Sue me.

And just like that it was over.

This was my life for 55 days.

And the final time.

Trip total: 2,237 miles (it rolled over at 10,000 so add what you see in the picture to 10,000).

The final odometer reading.

And the final picture.

My next post will be my closing thoughts. That is going to take some time to write up but expect it in the next few days.

Day 50/52: Vancouver to Spokane

Quick photo dump from my time in Seattle and Vancouver:

And of course the food photo dump:

I had such a great time in Canada with my mates Marc and Tegan. I’ve had many preconceived notions prior to arriving at places but California and Vancouver have been the two that have defied my expectations the most. There were parts of my journey in California where I was freezing and then there was my assumption that I would need my cold weather gear when I got to Canada. My mind was then blown when I found out they rarely get snow in Vancouver during winter… just rain and some low temperatures.

It was nice to have 4 days in Canada. We ate some great food, enjoyed many drinks, went to the White Caps vs. Fire game, and I rode to Whistler for a day trip. Had I been more prepared with an international plan on my phone and a willingness to skip Montana I would have continued east through the great white. I’m going to round up a few more riders and do a great white north only trip. I want to really spend some time up there.

This morning I woke up and had the bike loaded by 830AM. This was it. I was leaving my final planned destination for this journey and on my way back home. I know I have accomplished just about everything I sought out to do but I’m going to miss those moments when I just stand in a new place and soak it all in. If you couldn’t tell from my previous posts I tend to have mixed feelings quite often. I think about both sides of the coin. There were pointswhere I tried to plan a way to monetize this trip so I could continually travel and just be that guy on Youtube who is a nomad for everyones entertainment but I didn’t want to change the dynamic of the trip. Who knows what the future holds, right? After 50 days of not sleeping in my own bed I am ready to be home though. I’m excited to unload my bags at my front door, ride an elevator, open the door and have all my comforts once again.

I should have ventured off the highway to cross back into the states similar to how I entered Canada. I spent about 30 minutes idling on my bike watching people get arrested and searched. It was interesting.

It was another day spent mostly following various rivers. Washington is in my top 3 for riding destinations. Mountain passes and extremely scenic routes can not be beat.

All good things have to come to an end though (I don’t believe that really but it fits for this day). After a good amount of time in the mountains I started to get into the flats and this was the first time when the wind gusts actually got pretty scary. When operating a motorcycle in a straight line you are perpendicular to the ground but when cross winds are howling you end up in a permanent lean. Odd feeling. It’s also not the most enjoyable to be thrown all around in your own lane because the wind gusts change.

My original plan was too ambitious. I rode for 10 hours today and it would have taken me another 6 to get to the original destination. After 4 failed Airbnb attempts I had to pony up and get a hotel. To survive for 51 days on the road without having to get a hotel is a win in my book.

I’m planning another 500 mile day tomorrow and staying somewhere in Montana for the night. The following day I’ll attempt to see Mount Rushmore and possibly camp around there. The day after should be my last day on the road. I’m contemplating hopping on the highway and completing the “iron butt challenge.” One thousand miles in a 24 hour period. That is going to be a boring ass ride. See you tomorrow in Montana.