Tradingview Subscription Review - Is It Worth Paying For?
Tradingview Subscription Review | Coffee With Markus | Episode 116
Intro: 0:00
What's Happening In The Markets: 1:17
My Trades: 7:17
Tradingview Subscriptions: 19:04
Deep Dive Q&A: 29:58
Today the markets are all over the place. The DJI is down 1.15%, the SPX down 0.6%, and the NDX is slightly up.
This is due to last Thursday being Thanksgiving here in the U.S. with an abbreviated trading day on Friday. After this long weekend traders came back this morning and have 3 things on their minds.
1). New cases from this nasty virus. The numbers of new cases seem to be lower, but there was less testing going on over the holiday.
2). A third vaccine was announced
3). Traders are wondering how all this will affect the economy.
Nov. has actually been the best month for the DJI since 1987 while still being up 10.88% for the month. The SPX is up 9.34% for the month, and the NDX is up 8.02% for the month & 40% for the year.
I used the PowerX Optimizer to scan stocks for new trades for the PowerX Strategy, and I look over the possible candidates for 3 criteria:
1) No gaps.
2) Trendability to the upside or the downside.
3) Looking over the P&L graph to see what I would have earned over the past year.
Of the stocks that came back, PRPL was a good candidate. I entered a trade but now am down almost $400 and will exit this trade tomorrow.
I am still in a position with AM and have already taken profits.
I also trade using The Wheel Strategy. Using Wheel scanner PZZA, KMX, JD, YY, & BBY came up as possible candidates.
I am no longer in TQQQ. I got called away on Friday & have made a profit of $2,855 overall.
Now onto TradingView. Is a paid subscription worth it?
From their 4 plans: Basic, Pro, Pro+, and Premium I recommend one of their 1st 3 plans. Here's what's important to me from these plans:
W/ Pro & Pro + there are no ads.
Pro + allows 2 devices at the same time, but I only use 1.
Basic plan only allows 3 indicators per chart which is not a lot. Pro & pro+ allow 5 &10.
Basic only allows 1 alert. Pro and pro+ allow 10 & 30.
W/ basic you must refresh your screeners manually.
Pro & Pro+ have real-time data.
The Basic version is fine if you are just starting, but if you are serious, I recommend Pro plus the real-time data. If you find you are actually using the software then upgrade to Pro+
Referenced videos & links in this episode:
Wheel Playlist: • Options Income Trading Strategies
Markus' Trading Office: https://www.rockwelltrading.com/office
How to setup TradingView: https://tinyurl.com/yd6z49gr
TradingView Stock Screener: • How I Use The TradingView Stock Scree...
TradingView: https://bit.ly/2HODTwl
Kindle: https://rockwelltrading.com/kindle
PowerX Optimizer: http://www.mytradingroutine.com
#OptionsTradingTools #TradingView #OptionsTradingStrategies
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