Trading Recap for Friday May 16 and Ideas for Monday May 19
Failed Breakdown Reversal Strikes Pay Dirt AGAIN. In SPY and UNH today. over 500% gains multiple times today!
Top Trade Ideas Today
SPY / SPX
This morning I wrote I wanted to long off 589 or over 592 .. a net bullish bias
We got exactly that!
Idea: SPX 5930c $7 target $25-37
Trigger: Failed breakdown reversal off 589
I executed this trade poorly, I stopped out flat at 7 thinking a lunch time vwqp test may come. and given the profit from UNH I became less focused on join back in at $10. I placed an order on 5950c as a yolo for $2 that ended up filling and ran to $10
UNH
This morning I wrote I want to scoop 290c for 0.50-1. During the support fail, these dipped all the way to $0.10.
Alerts:
UNH 300c
Trade 1: 0.10 — ran to 1.80 — Trigger: yolo thesis for upside
UNH 290c
Trade 1: 0.50 — ran to 1.75 — Trigger: gap fill go long
Trade 2: 0.60 — ran to 4.50 — Trigger: failed break down reversal + news
Trade 3: 0.75 — ran to 4.80 — Trigger: failed break down reversal + news
UNH 280c
Trade 1: 1.50 — ran to $14! — Trigger: failed break down reversal + news
This was amazing! generated massive returns! If only I entered yolos on the 269 dip.
A little late, I noticed someone had loaded up 280c for 0.30!!! at $14 that is 46x!!!!!
Do you want to our next Failed Breakdown Reversal Alert? To learn the trade to win mindset, Come trade with us. We aren’t cheap, but neither are our returns. Don’t settle for 15% gains over days when we find trade that pay 50 to 500% or more in under 2 hours!
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
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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 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.
Trade Ideas - Plan for Monday May 19
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
Moody’s downgrade the US. After hours SPY started selling off. Lets’s see if on Monday this begins the trigger for selling. This afternoon I alerted I wanted SPX 5750/5600 bears puts for May 30 for under $10. It dipped to 9s.