BTFD strikes again. Will SPY reach 605+ this week? Trade Ideas for Mon Jun 16
What's stopping you from making 500-1000%? Stop overtrading, and make more in less time. Read on to learn how I do it.
Good morning. Friday was solid again. Most of our profits came from early positioning in the morning and the swing trade we took in ORCL.
SPY / SPX
IDEA: SPY dip and rip off 597
Many times war news rally the market so after the overnight gap down, that was my initial bias.
I alerted taking SPX 6000c for $6 with a 6025 target.
We got an alignment of a 10:30am dip and a 2 level move with a bullish bias. More or nailed the low for entry!
using 50% for stop, or $3 risk and a $25 target that = $19/3 = a 6.3R trade potential. We take that bet!.
Overall the trade was a perfect gap down reversal bet setup. One of my core trade setups with a high win rate!
You don’t need to trade all day and over trade. One to 3 solid trades with high confidence is what you want. Time in Trade until 6R.. 90 minutes.
IDEA: SPY will reject 601.50
I shared this idea but the short entry. I initialy then plann for a bounce off vwap, but SPY then broke vwap…
IDEA: SPY breaks vwap and may tests low/goes to 598.
I nailed the entry but screwed up the execution on this due to being worried it was a faker and impatient.
I ended up chasing back in at around $7 and saw this run to $20!
ORCL
IDEA: ORCL will reach 220 to 230 next week
Oracle had amazing earnings. I was looking to take 200c for $1-1.30 but they only dipped to 1.60 and I scooped at 1.90 target 4-5. They reached $4. The opening volume was insane! these contracts went to $16!!!
I alerted reloading/adding to UNH 210c for this week.
Sold 50% at 5 and 30% at 7.50 after reaching 2.50 for the fills. Why? 100 and 200% gains for sells. and 20% left over weekend which can be risky as a runner.
Again solid positioning in the morning and great payouts with little additional effort!
Let’s get to the goal of getting paid $1000/min “worked”. So assuming 30 minutes of watching/planning/placing orders and then letting bracket orders for their thing. That would mean making $30k. 100 contracts for $25000, and selling 50% for 5 = $12.500profit. 30% at 7.50 = $15000 = $27500 with over $10k unrealized.
I’m not there yet since I was watching since 9:30. But it’s the goal!
There is massive opportunity in this market. Are you taking advantage? Literally have planned and alerted trades that pay over 300-1000%! You will need patience to wait for entries and the exits. But if you have self discipline or trust bracket orders, my process can help you get the results you want.
Thoughts from Friday’s price action:
SPY was net bought on DiPS again!
Look for reaction to 597-598 in coming days and 602 to clear for more upside
What is Two Hour Trading?
Two Hour Trading is 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 set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
Education
How to Join a Strong Trend
The process I typically follow for joining a strong trend are as follows:
All day grinder: join on dips to 20ma
Multi-day grinder:
Join either on support test of morning lows or failed breakdown reversal at key level
Join at VWAP mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Systematic Profit Taking
How do I take profits? I keep it relatively simple. Depending on the entry and range to the next levels I typically with take profits 50-100% of my profits at 3-10R and then raise stops to above entry with a goal of letting runners take me to the next level or 2 and to then reload if I believe we are consolidating before the next leg.
I then repeat the same process on the reload.
Securing Profits on Options overnight
Sometimes you get this massive paper gains overnight on options but you can’t secure it right? Well if you have a big enough account and a margin account if you have calls you can. What you need to do is buy or sell the stock overnight. and the option turns into a hedge against that position essentially securing your profits.
Trade Ideas - Plan for Mon Jun 16
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.
Ideas
With SPY is gaping back to test 601.50 the market isn’t being scare off by weekend news.
Here is what I’m looking at today…