Monday followed the trade idea script! Did you catch 3, 5 or 10x? Trade ideas for Tuesday June 4, 2024
Monday followed the trade idea script! Did you catch 3, 5 or 10x? Trade ideas for Tuesday June 4, 2024
Godmorgen traders. I’ll be trading from Aarhus, Denmark until mid June.
I missed trading Friday due to travel, but Thursday I alerted multiple bagger trades and if you follow the processes I teach, the failed break down reversal on Friday turned into 50x+ bagger opportunities.
GME is ripping hard this morning on Roaring Kitty’s post. With GME doubling premarket.
SPY is gapping up in premarket, can the rally continue?
Let’s go over the action on Friday and then find 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.
June 3 - SPX 5280p $5 —> ($500 —> $4500 potential)
May 22 - SPX 5280p $0.10 —> ($1000 —> $43000 potential)
May 22 - SPX 5300p $0.50 —> ($500 —> $15000 potential)
May 21 - SPX 5320c $0.50 (alert: 0.25 target $2-5) —> ($500 —> $6000 potential)
May 21 - SMCI 1000c $9.25 Swing (entry day before) —> ($925 —> $2100 potential)
May 17 - AMD 170c $0.20 Swing (entry day before) —> ($200 —> $1500 potential)
May 16 - SPX 5300p $0.20 Round 3 —> ($200 —> $2800 potential)
May 16 - SPX 5300p $0.50 Round 2 —> ($500 —> $2600 potential)
May 16 - SPX 5300p $1 Round 1 —> ($1000 —> $5000 potential)
May 15 - SMCI 850c $12 —> ($1200 —> $10000 potential)
May 14 - SPX 5240c $0.50 —> ($500 —> $10600 potential)
May 14 - SPX 5230/5225 bull puts $4 —> ($4000 premium potential)
May 14 - SPX 5245c $0.20 —> ($200 —> $6000 potential)
May 14 - SPX 5240c $0.50 —> ($500 —> $10600 potential)
May 14 - SPX 5230/5225 bull puts $4 —> ($4000 premium potential)
May 13 - SPX 5220/5215 bull puts $2.50 —> ($2500 premium potential)
May 13 - TSLA 170p $1.90 —> ($1900 —> $2890 potential)
May 10 - AMD 162.50p $0.25 (0.25 entry) —> ($250 —> $1600 potential)
May 9 - SPX 5210c $1.25 (1-1.50 entry) —> ($1250 —> $6200 potential)
May 9 - SPX 5220c $0.20 —> ($200 —> $1100 potential)
May 9 - SPX 5200c $3 —> ($3000 —> 15800 potential) (dipped to 2.20)
May 8 - SPX 5200/5205 bear calls $1.20 —> ($1200 premium potential)
May 8 - SPX 5190/5195 bear calls $1.50 —> ($1500 premium potential)
May 8 - SPX 5180c $4 —> ($400—> $1100 potential)
May 7 - SPX 5190c $1 —> ($1000—> $4000 potential)
May 7 - SPX 5190c $1 —> ($1000—> $4000 potential)
May 7 - DIS 105p $0.40 —> ($400—> $1600 potential)
May 6 - SPX 5170c $3 —> ($300—> $1100 potential)
May 6 - SPX 5175c $0.40 —> ($400 —>$7000 potential)
May 3 - SPX 5150/5155 bear calls $1.50 —> ($1500 premium potential)
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.
Monday’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!
Please note all times are Eastern/New York regardless of what time zone I happen to be in.
SPY / SPX
Yesterday the key was to get short early on pops during first hour on 5280p, or one could take 5250p for $3 after the first hour. We got both. The 5280p hit 45 on the level below and the 5250p hit $20!
So what happened? I told THT Pro member before market open that if Friday’s move was a squeeze we could dump. In the blog yesterday, I even wrote what that scenario would look like. Yesterday I wrote:
It almost like SPY followed my script exactly. After the first hour, SPY broke 527.50, then broke 526.50 and then came back and back tested 526.50 and then dumped into 523 and cleanly breaking 525.
This is how squeezes work. There isn’t real buying in that fast move up on Friday and so it is possible to have fast selling!
The market essentially dumped back in to the key 523 and then reversed. I think of yesterday’s move as a back test of the breakout. Once the back test was done its time to go back up. Count 2 levels and that takes us back to 527.50 and that is more or less where we closed!
Overall the yesterday’s action is price discovery. The market was hunting for buyers and sellers and overnight we had some range as well. There isn’t a clear indication imho if market wants to carry forward higher or lower immediately. Imho, we are back into consolidation action. That makes trading today way more dangerous if not trading at key levels/ranges.
Trade Ideas - Plan for Tuesday June 04
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
Economic data wasn’t great from a macro sense and it has created some worries. The market doesn’t like uncertainty. I’m expecting us to trade within yesterdays range, but if there is a range break in either direction we could an additional 2-3 point move.