4 days of selling!??!! WTF?? Is TSLA in a death spiral? Day Trading Ideas for Apr 18
TSM beats and raised guidance, but gaps down. TSLA downgraded to hold with $123 price target by DB. Are stocks in trouble?
Good morning traders!
Yesterday I wrote:
And we broke 502.50 and it played out! :)
In today’s blog I’ll explain that process and thinking. Let me know if it helps or what I can share with you to help you become a better trader. I’ll highlight how the levels I provide in this newsletter are your roadmap to profits.
Overall the market has been in sell mode for 2 weeks when I called out a swing short in SPY. I locked 90% of the short in yesterday at 500 from 523. It’s rare that I call out swings trades so pay attention to when I do. I usually only do it when there is a great risk/reward trade developing. One tip: place swing trades in another account you don’t watch every minute of the day. create bracket orders for stopping out and taking profits.
Then we will get into some trade ideas for today.
Introduction (for New Readers)
Welcome to my blog on Two Hour Trading, your daily source for market insights and trading opportunities. In this blog, I will provide you with a comprehensive analysis of the market, educational lessons, and trade ideas to help you stay ahead in your trading journey and best of all doing it less than two hours a day.
What Subscribers Get
Subscribers to this blog will receive daily updates on market analysis, educational content, and up to three trade ideas each morning, all based on real-life examples and my personal approach to trading.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
What is Two Hour Trading?
It’s my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to setup. Key benefits:
High Quality trades with great reward vs risk
Avoid Overtrading and losses from it
Trading to Win vs Trading to Not Lose
Stacking the deck in your favor
2024 Alert Leaderboard
(I’ve decided to include a leaderboard so you can see what potential the 2 Hour Trading System has)
The following is based on entry alerts.
Apr 17 - SPX 5120p - Entry
Apr 16 - SPX 5140/5135 bull puts - Entry $2.50 ($2500 premium potential) drawdown < $300
Apr 12 - SPX 5100p $1. (dipped to 1.30) - Entry $2 ($2500 premium potential)
Apr 11 - SPX 5180/5185 bear calls - Entry $2.50 ($2500 premium potential)
Apr 10 - SPX 5180/5185 bear calls - Entry $2.50 ($2500 premium potential)
Apr 10 - SPX 5170c - Entry 0.50 ($500 → $5000 potential)
Apr 9 - SPX 5185/5180 bull puts - Entry $3 ($3000 premium potential)
Apr 9 - SPX 5205c - Entry $0.50 ($500→ $6000 potential)
Apr 8 - SPX 5225/5230 bear calls - Entry $1.20 ($1200 premium potential)
Apr 8 - SPX 5200/5195 bear puts - Entry $0.10 ($1000→ $8000 potential)
Apr 4 - SPX 5250p - Entry $4 ($4000→ $100k potential)
Apr 4 - SPX 5180p - Entry $1.30 ($1300 > $32k potential)
Apr 3 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5205/5200 bull put - Entry $1.50 ($1500 premium potential)
**Past Performance is not indicative of future results
For live alerts and market commentary click the button below.
Wednesday’s Price Action (Education)
You don't try to make $100,000 ...You don’t start by saying, I’m going to make the biggest most profitable trade and turn $1000 into $100,000 and fix all my bad trades before.
You say, I’m going to plan and execute 1 trade as perfectly as I can today. You do that every single day, and soon you'll have a $100,000 and likely much more!
SPY/SPX
My original plan was for a 504.50 dip and rip over 506.70, but given the action I quickly flipped to puts.
Let’s go over the price action I used to make that judgement call.
You can see how we had a fail push reversal on premarket highs, and then we borke premarket support. Those 2 combine together triggered the downside plan. we then count 2 levels below and and the target under 503 break becomes 498.80. WE got to 499.12!
That was good enough for me. Into that final flush and dump I called out I was all out of my puts and at 501 small swing long on SPY started. And scalp long target vwap 502.50 was ok.
NVDA
I was looking for 906 to be retested but 884 was rejected and once 872 broke again 860 became target. once that support broke 839 became the target (2 level move down). Checkout out where we got to by end of day!
SMCI
On Tuesday I wrote we should get to 1020 and that is where I locked in my 80% of my calls during that early push. and then on a dip I rolled into 1070 calls thinking day 2 would come. I got stopped out flat on that trade.
Trade Ideas - Plan for Thursday Apr 18
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Overall focus will be on bull puts on SPY and possible yolo calls. I will cut all calls if SPY break 502.50 again and likely scale in on next failed pop with size short.
I will be watching SPY, NVDA, SMCI