Tariff Day is Here! We will get another 1000%+ Spectre Special? Trade Ideas for Wed Apr 2
Have you ever had a Spectre Special? A trade that does 500%+ in under an hour?
Wow another wild and profitable day. We even got another Spectre Special. Unfortunately I was mentally and physically exhausted. by end of day to fully take advantage. (I celebrated Monday night and only slept 3 hours, so by the time end of day arrived I could barely keep my eyes open)
BUT my instincts ran on auto pilot and was Spot On! I gave myself 30 minutes it hit $5 for 400% gains I was content and went to sleep! That said the end of day squeeze I wanted came and it was a 1500% gainer.
Highlights from Tuesday
Entered SPX 5620c for $5 hitting $35+
Entered SPX 5620c again for $1 hitting $15
After testing 563 it failed and vwap broke. I hadn’t planned this)
Decent consolidation range that implies sellers are very much active
Overall SPY 556.50 and 563 are key levels based on Tuesday’s action.
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
Trade Recap for Tue Apr 01
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
The levels were super precise again!
3 things i could have done better.
Left some size for that vwap break from the lower high SHORT
Been more patient to get long
Treated the 5620c as a complete YOLO. sell 50% at 3 to make it risk free with some profit. and let it play to close like I usually do. but that vwap break had me doubting myself so took the 400%
What I should have also done:
Identified 5630+ as squeeze target
Placed order for 5630c for 0.20-0.30 and gone to sleep.
GET EXCITED. I’ll be publishing a book called Trading To Win: Stop trading to NOT lose. Title is still in the works. I plan to include exercises to help you improve your mindset and your trading. Leave a comment or send me a message if interested in the book.
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/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.
Trade Ideas - Plan for Wed Apr 02
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
“Liberation Day” aka Tariff Day is here. SPX contracts are juiced at 39%. My primary plan is to wait. Wait for Trump to unveil his plans and for the markets to react. Overall I exepect Fed like action with rangy moves up and down while market does some discovery work.
Here are the stocks and key levels I’m watching…