Interest rates spike triggering market sell off. Will market continue selling today?Trade ideas for Jan 08, 2024
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Good morning traders !
2025 is our year! I wrote earlier that we are going to get volatility and that is exactly what we are getting! 2 shorts and 1 long were the main trades yesterday.
Remember how I said if 592 broke I would go short? That let me plan and alert SPX 5900p for 0.50 targeting 3-5 for high probable exits at $10 if major selling came. 5900p ran to $11!!! that is over 2000%!
Let’s get into the action and what we have lining up today.
Tuesday Highlights
SPY - clean 597.50 rejection followed by ISM data at 10am triggering flush into 587 by end of day.
TSLA - continued its selling into 390s
NVDA - classic gap up into new highs, but unusual selling.
MSTR - with crypto yank, this flushed sub 340.
PLTR - Yesterday I wrote, did Cramer give PLTR the kiss of death, and yesterday it dropped from 75 and this morning it is 68s!
Wed Premarket Highlights
SPY - rangy between 586 and 590
TSLA - tested 388 and bouncing a little..
AMD - downgraded by HSBC and called the loser of the AI boom.
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Introduction (for New Readers)
Welcome to my blog on Two Hour Trading—your daily source for market insights and trading opportunities. Here, you’ll find comprehensive market analysis, educational lessons, and trade ideas to help you excel in trading, all while spending less than two hours a day.
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Subscribers receive daily market analysis updates, educational content, and up to three trade ideas each morning based on real-life examples and my trading approach.
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?
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
2025 Q1 Alert Leaderboard
Here's a look at some of the potential gains achieved through our entry alerts:
2024-01-02 SPX 5880p 11 to 40+
2024-01-02 SPX 5820p $2 to 10
2024-01-03 SPX 5930c $2, dipped to $3 and ran to $11
2024-01-06 SPX 5980p $1.70 → $20 ($1700 to $20k potential)
2024-01-07 SPX 5900p $0.50 → $11 ($500 to $11000 potential)
2024-01-07 SPX 5930p $5 → $17.4 ($5000 to $17400 potential)
2024-01-07 SPX 5930p $5 → $40 ($500 to $4000 potential)
**Past Performance is not indicative of future results
For live alerts and market commentary click the button below.
Trade Recap for Tuesday Jan 07
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
Were you able to spot the signals?
Not much to say, its all in the chart! Already another 10 bagger in the books!
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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/failed breakdown reversal
Join at vwap mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Education - 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.
Let me know in the comments if you have questions or would like to see examples, I’ll share them.
Trade Ideas - Plan for Wed Jan 08
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
After yesterday’s selling and news tensions are high today about what next. Expect chop with possible range breaks.
Read on for my thoughts/plans…