SPY consolidated yesterday and looks poised to reach fresh highs! Trade Ideas for Tues Oct 07
BOOM!!! Friday, another day, another pay day! SPX 6730p went to $25!!! Congrats CG on your 6730p scoops at 1.50.
Yesterday none of my trade ideas setup. Actually one did , but it was too late in the day and only paid if you used futures short in which case the target pay out came after hours.
One of the essential skills to develop as a trader was to know when not to trade. For me that was yesterday. The volume was anemic and I didn’t see range expansion coming, and option prices were too juiced. If one nailed the entire range it was about a 200% gainer potential. Not anything great. Sometimes that is all we get. But I’m ok missing out. We got paid huge last week.
Yesterday we waited. I also alerted THT PRO members I was going to take AMD 0.00%↑ 220p out the gate and those went from 7.5 to 18. Not monster gains but a very high probability payout on $2 Risk about $10 payout. That 5R!!!
That was it for your yesterday there is much to review so no video. Let’s see if we get some fun trades today!
If you are tired of overtrading, not knowing how to plan trades, and want to make more in less time, come join us.
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.
Plan for Tue Oct 7
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.
SPY Opens Strong: Secure Your Momentum Edge Today
Spot failed breakdowns near key supports to capture quick reversals.
Market Context
SPY has shown resilience over the last five trading days, with prices ranging from a low of 660.93 on September 30 to a high of 672.67 on October 6. The overall bias remains bullish, as the index rebounded from early September lows around 661 with multiple failed breakdowns, supported by volume spikes during recoveries, such as the 3.5M+ volume bar on October 3 at the open. Yesterday’s close was 670.68, and premarket trading has the index at 672.0, sitting just above the pivot, suggesting continued upward momentum if it holds above 671.16.
Key Events Today
No major events scheduled today, potentially leading to range-bound action unless unexpected news breaks.