How will markets react to US/Iran escalation? HIMS loses NOVO partnership. Trade Ideas for Mon Jun 23
What's stopping you from making 200-500%? Stop overtrading, and make more in less time. Read on to learn how I do it.
Good morning.
Friday’s action was a bit underwhelming but we still managed to find some profitable trades. Unfortunately I did not identify any 2000% gainer trades, but we got some 500%+ trades in the least expected spot!
SPY / SPX
IDEA: SPY 594.50-592.50 coming in morning action
I had upside bias on SPY but waiting for 15minutes to see the price action. Then ended up taking 5980p and 5950p.
The 5980p gave a 100-200% gainer move for profit taking. going from 8 → 28!
The secondary entry on 5950p at $3 paid…
What a trade!!! ran to $12 in 30 minutes. Mission accomplished
META
I was originally long biased on META and got stopped and based on the price action AND seeing a large credit sell position.
Trade 1: 680p for 0.30 ran to 1.27
Trade 2: 680p for 0.20 rant to 1.05
I was looking for $5+ on these but this is why we take profit along the way!
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 Wed price action:
SPY is continues to consolidate but with some weakness
No clear signal yet for upside or downside next
BTFD bias continues until 592 breaks.
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 23
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
Overall looks like market dipped overnight and recovered nicely. Will it hold the gains and rally today is the question!
HIMS lost its partnership with Novo Nordisk that provides their major revenue / product.
Here are the trades I’m planning for today…