AAPL announces massing $110B buy back. SPY continues consolidation action
Eyes will be on AAPL earnings tonight
Good morning traders!
Still very sick. I think over burdened my body during training so its forcing rest days.
Only a handful of trade setups and alerts yesterday, but they did betwenn 100 and 500%. Good enough.
Let’s get into the trade reviews and then go overs some 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.
May 2 - SPX 5020p $7 —> ($700 → $2180 potential)
May 2 - SPX 5070c $1.20 —> ($1500 → $7200 potential)
May 2 - SPX 5070c $3—> ($3000 → $7200 potential)
Apr 30 - SPX 5080p $3 —> ($3000 → $45000 potential)
Apr 23 - SPX 5060/5055 bull puts - Entry $1.75 ($1750 premium potential) drawdown < $200
Apr 22 - SPX 5050c swing - $5.50 → ($5500 → $42000 potential)
Apr 22 - SPX 5000c - $3.20 → ($3200 → $39000 potential)
Apr 22 - SPX 5020c - $0.20 alert, dipped to 0.55, fill at $0.70 → ($700 → $20000 potential)
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.
Thursday’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
Normal I wait, but beacuse of the gap up and I had a bearish bias, I got short early looking for gap fill / 2 level move and we got in firsst 30minutes. My job especially being sick was essentially done.
I then wanted to see a double bottom and higher low and target the 5070c.
The contract bled out down to 0.75 and ran to 7.20+. The better hawk would have probably ben the 5050c.
AFTERNOON TRADE - wait for contracts to bleed out then get multiples.
CVNA
Respected the levels well but I screwed up execution and got chopped.
The biggest issue, is that the contracts were ultra juiced in the morning and then bled out. I jumped the gun and got in too soon expecting a larger than 2 level move.
Trade Ideas - Plan for Friday May 3
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.
AAPL continues to lose revenue but they print cash and announced a hug buy back bid. Overall it is no longer a growth company imho.
I’m more sick this morning than yesterday so hopefully be able to sneak a trade in but planning to take it easy.
Plan is to wait until after 10:30 or 11:30 before taking a trade or possibly wait for last hour.
Overall SPY is in consolidation move between 500 and 508 imho. needs range break over 510 or under 500 for a trend to possibly begin.
Jobs report today may trigger volume.