SPY breaks out, grinds higher! Trade Ideas for Wed Jun 25
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.
Yesterday I wrong look for 606.40 to turn into support and we almost reached 608 target.
With this in mind I alert SPX 5580c for $5. and those went to $20!
SPY / SPX
IDEA: will reach 606.40 and maybe 608
When I SPY reached 606.40 I estimated that 6080c would sell for $12-15.
I shared this trade plan…
Talk about planning the perfect dip buy! SPX was 7-8 and perfectly dipped to 5 before reaching 14.9 and then 20…
That is all that was needed to be done.
For a spectre special I alerted 5095p for 0.50 and these closed at $1.72 provide a 200% return.
I didn’t get enough sleep so not going to do the charts today. bottom line the open dip and help and started to grind.
606.40 gave a double bottom dip buy opportunity on 6100c. Those ran and failed for small gains.
Some people got burned trying to get short! DONT let your bias get the best of you. I told THT PRO members that until 606.40/606.20 broke down there was no short trade.
COIN
I alerted swing long 400c for July at $2. these reached over $5 today.
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 Tuesday price action:
SPY has brokedn out of 2 weeks of consolidation. Should see 610 this week
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 Tue Jun 24
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
Market is gapping up and continues is BTFD action
Here are the trades I’m planning for today…