Monster gap up in SPY after MSFT and META e/r. Will it keep the gains? Trade ideas for Thu Jul 31
Very rangy action yesterday. Multiple 100% gain trade chance plus a 500% payer!
Good morning!
Excited for today. Let’s plan some excellent trades.
The Scanner in Edge Trade Planner gave incredible signals.
There were multiple alerts on SPX 6330p adding up to millions of dollars.
Here is what happened…
SPX 6330p dipped to 0.50 and then ripped after powell was done speaking to over $7! that is over 1100%
Let’s get into the action…
SPY/SPX
Morning Setup: 2 level move + 10:30 fail
We took calls initially. and then I took a little short late and then took profits on gap fill.
We then waited for Powell and FOMC. I returned at 2:30pm per plan.
Afternoon Setups: Failed Breakout Reversal + SPY 632 back test reversal/squeeze
Notice how the clean move came after 2:45pm! Why waste time watching the market before then?
Yesterday I wrote I wanted SPY 632 back test for a long.
I alerted I was taking /ES swing long around 6375. Today they hit 6468 in premarket! for over 80 points!
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.
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 Thu Jul 31
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
Monster gap up and rally after MSFT and META earnings. The question will market hold the gap?
Here are my ideas for today…