Textbook trading pays over 300%. SPY consolidates again. Trade Ideas for Tuesday Apr 15
Have you ever had a Spectre Special? A trade that does 500%+ in under an hour?
Yesterday I had one 3 idea primary ideas, and none triggered. So we fall back to technical trading process, and it was textbook!
And after that I was essentially DONE! there was another trade that developed that I didn’t alert or participate in though and I missed the spectre special at the close but that was 100% OK.
This is one of the things I stress. Reduce your trading to A+ setups. Make your bank and walk away. Unless another A+ setup develops there is nothing more to do. Why take 5 $500 mediocre bets when you can take 1 $1000 A+ bet?
Assuming you had only one contract. I would hold for gap fill or use T2 for exit. Which isn’t bad at image 1 trade. using $600 in capital and selling at $16 for $1000 profit. or at gap fill and selling at T3 for $26 and making $2000.
Guys this isn’t a dream. This is my exactly style for trading. I look for setups and payouts that are advantageous. Even better. SPY barely moved yesterday compared to previous days, and we we still banked! $2000/$600 = 333% Return or at $1000/$600 = 166% return
Solid gains and returns in under 2 hours!
REMINDER: THT PRO for new members is now $500/mo as of April 10. I know its one of the more “expensive” memberships but imho, it is incredibly cheap considering the mindset and behavior changes members experience plus the number of high quality trades that I deliver extraordinary gains.
With high profit alerts PLUS actionable learning, can you afford not to join. Stop being a hobbyist and invest in becoming a focused disciplined with a trade to win mindset trader with 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
Trade Recap for Fri Apr 11
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
Monster day! I love boring well planned trades!
Execution could have been better. I sold too much at T2. And was too patient on reload after gap fill for double bottom or break which cost me $2 profit but I’m ok with that.
After the morning play, I was done. Thing else met my criteria until last 30 minutes, but I was looking for a vwap dip for going long and not paying attention for a fail to get short. That said I did place a yolo order on 5435c for 0.35 that filled and ripped to over $2 in seconds for a massive payout and then quickly went to 0.
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.
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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 Tue Apr 15
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
We’ve quickly dropped back into regular range movements and the bids aren’t nearly as strong as I expected. Overall we will need to see if volume and range breaks come today or tomorrow. In the meantime focus on technical range test and reversal patterns.