Trade Execution/Process + Luck = Riches. Will SPY keep gains today? Trade Ideas for Apr 10
Have you ever had a Spectre Special? A trade that does 500%+ in under an hour?
Some people missed yesterday’s market action/love. Don’t worry about. For anyone who made bank yesterday I’m more worried about you. Did you execute right? Was your sizing right? Do you feel fomo that you should have made more?
Big wins use to be my Achilles heel. Don’t let the win make you ambivalent to risk!
Stay focused on proper sizing, risk management, and execution.
For all traders, stay focused, keep doing what you have been, focus on execution, showing up, especially on days at or near extreme highs or lows. When you combine execution, with luck you will eventually get a 100x+ trade in your life, especially with my process how i trade.
My plan for 5100c $12 entry on SPX 5100c was that if we squeezed they would see for minimum $40 and likely 140 for 10x+. I screwed up yesterday by not putting yolo order to fill 5200c for $2.
I can’t plan for news to trigger the 3rd biggest move in SPX history, but I can plan to catch a 2 level move based on price action and process, and take advantage if beneficial news comes!
Bottom line, keep executing well. Sometimes you will have news that benefits you and other times it will fail you, but buy staying focused on execution you will reap the benefits consistently.
Guess what the high on the 5100c were….. Our contracts went from $12 to $370!
Per my analyssis and review, of what I could have done better, is also taken 5200c for $2. Why? because my secondary target was 5240-5260. so $2→24-26 is still 10x.
the 5200c went to $274. a massive 100x+.
I can’t beat myself up because I execute to the best of my ability while being super sick.
PS. I made 2 alerts yesterday. The first did 90% and the second did 1000%+ per plan. This is the way I love to trade.
REMINDER: THT PRO for new members is now $500/mo on April 10. I know I’m one of the more “expensive” memberships but imho, it is incredibly cheap considering the mindset and behavior changes members experience plus the sheer number of high quality trades that can let you pay for a year’s service in 1 day. If you have friends that want to join or are considering joining, be sure to join before rates go up.
In the ideas section I’ll cover what I think is driving the market and how and when we may bounce.
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 08
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
We executed per process. waited patiently. and got rewarded!
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 10
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
Still sick but feeling a little better so far. Super overslept. Got 12 hours.
Overall SPY is gapping is gapping down after the monster squeeze. This isn’t a surprise at all given the recent move The question is where does it go from here.
Here is my plan for today