6 days of selling! SPY filled the gap. Tech earnings kick off this week. Is it time to buy the dip? Day Trading Ideas for Apr 22
6 days of selling! SPY filled the gap. Tech earnings kick off this week. Is it time to buy the dip? Day Trading Ideas for Apr 22
TSLA cuts prices on cars and reports Tuesday. MSFT and META also report this week. Can they bring back bids?
Good morning traders!
Friday I was looking for BTFD but kept the door open for downside plays and boy did they pay!
Thursday I alerted swing puts in NVDA including a yolo on NVDA 800p at 0.25-0.50. On Friday those hit $40! Imagine a $500 bet paying $20-40k! These returns are possible on ODTE options and why I love them.
In today’s blog I will go over the price action from Friday, and ideas I’m watching for trades 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 19 - SMCI 750p - $1.50 → ($1500 → $38k+ potential)
Apr 19 - NVDA 800p - Entry $0.5 ($500→$40k potential)
Apr 18 - SPX 5050c - Entry $6 ($6000→$16000 potential)
Apr 18 - SPX 5020p - Entry $4 ($5000→$20000 potential)
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.
Friday’ 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
Big flush out and gap fill on Friday.
On Friday I wrong about BTFD. But I was right about the price action to look for for down side. I wrote if 498 broke and 499 turns into a ceiling to go short. You can see how 498 broke and after the first hour SPY could not get over 499. That was the time to position short. Any pop into vwap was a gift for get short for all day downside. Most of your work was done in the first 90 minutes. Set bracket orders, and let the trades play out.
Eventually SPY got tot he 494-495 zone I talked about last week as being a gap fill on the daily chart. In theory we gap up and clear 500.50 today for a move toward 505.
NVDA
Given the morning flush and recovering , I was looking for a little more pop before downside. but following range break rules and seeing the weakness in SPY the downside thesis looked likely to play out. Using the levels as a guide an insane opportunity on the 800p yolo developed. We started our swing short on Thursday and I was looking to add /start new shorts on Friday.
Here is how to read the price action
Following this process if you took 800p for $1 here is what happened by end of day
the contracts dipped to 0.87 and eventually ripped to $43+. If following THT process, you should be out 60-80% of the position at $25-30 (once it got to 775) and let runners pay you if any more comes.
Remember the goal isn’t max gains, but to consistently collect profits.
Trade Ideas - Plan for Monday Apr 22
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.
Market is gapping up today and I’ll be watching dips for a long as dip buyers for e/r run ups start showing up. That said, I will watch for bull and bear action.
I will be watching SPY, NVDA, NFLX and TSLA