Click here for an example of Taylor's Chart settings.
Click here for an example of Chandler's Chart settings.
While Taylor believes there is a time and place to benefit from the leverage of long calls or puts, he prefers selling credit spreads because they further open the probabilities of profit in his favor. He has found more peace of mind from utilizing this strategy —probabilities, peace of mind, profits.
Options expirations depend on the setup Taylor is looking to trade. Expirations on bigger time frame squeezes differ from those on lower time frames. For price (strike) selection, Taylor uses the Exponential Moving Average (EMA) as a reference, so he can maintain a good risk-reward ratio.
Taylor's position size varies depending on the length of his trades. Iron condors and hourly squeezes have a smaller position size than longer term swing trades such as daily or weekly squeezes. He also limits how many swing trades he takes at a time.
Chandler enjoys the freedom day trading allows him each day. He can take a couple of trades and go on with his day, this way he is not a slave to the charts.
The technical variables Chandler uses on the Ichimoku Cloud are Span A and Span B. He hides every other component. He uses all time frames for the Cloud, as they all give different perspectives and information. Watch Chandler's video reviewing how he sets up the Cloud and applies it to his system. Watch here.
Chandler has a systematic approach to prep. He uses an “if this, then that” mentality that allows him to use news, current events, and market levels to identify playbook setups that work in his advantage. He uses the same prep steps every morning and night.
The dotted lines on Chandler’s charts are part of his favorite indicator, Exponential Moving Average (EMA). Chandler uses the 21 EMA and the 8 EMA specifically on his chart.
-Taylor has been fully committed to trading for 10 years.
-Chandler has been fully committed to trading since 2018.
Trading is a game of probabilities, and the probabilities guarantee that there will always be losing trades. Accepting that they are part of the game is half the battle.
Short-term memory, long-term vision! Taylor and Chandler focus on trading high-probability setups that can lead to profitability over the duration of the entire trading experience. The losses scattered throughout the process are to be expected.