Trade Ideas for Wed May 8
Are you planning trades that pay over 300%?
Wow what a close and recovery yesterday. It was amazing. with planning we could flip our trade to long and many member banked. It was their first 10k+ giain winingn trade.
Overall market is gapping up on the news or reaffirming its border policies.
Stop being a hobbyist and invest in becoming a focused disciplined trader with a trade to win mindset with us.
Overnight Action
SPY - gapping up on china trade talk hopes hitting 564 but has since faded to 561s.
AMD - reported earning triggering rangy moves between 96 and 106 but is now virtually unchanged from yesterday’s close.
MRVL - gapping down on expected uncertainty due to market conditions
SMCI - gapping down though it reported expectations of strong demand but uncertainty in international business.
EA - gapping up on e/r
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
Trade Recap for Wed May 7
GOLD BOLD ITALIC = price action signal
SOFT YELLOW = thinking/anticipation
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
Notice how the key price action for each of these was recognizing the failed break signals especial near key levels.
GET EXCITED. I’ll be publishing a book called Trading To Win: Stop trading to NOT lose. Title is still in the works. I plan to include exercises to help you improve your mindset and your trading. Leave a comment or send me a message if interested in the book. My birthday is coming in May - I hope to release this before then.
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.
Trade Ideas - Plan for Thu May 8
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
Got a big reverslal overnight. Identifying levesl I want to get short in otnigh tfor gap fill.