Trump Resigns. US to hold special elections. Goldman raises SPY price target to 8000 for 2025! Trade Ideas for Tues Apr 1
Are you averaging 300-500%+ on your trades in this elevated volatility? If not, join THT PRO.
I was expecting a larger move on the new this morning. Market makers don’t know what to make of it or the news hasn’t been circulated or is being suppressed to keep people calm.
What a day yesterday! We essentially got a 4 level move + a bonus move to 560.50! Who says you can’t catch the whole move!
So much opportunity. My biggest regret yesterday is not loading up long on 5600c as a yolo when I saw the 1:30 consolidation and higher low.
Quickly, let’s talk about talk about today’s headline. I have reader who may not be familiar with April Fools Tradition so It’s complete crap and ignore it!
Highlights from Monday
Entered SPX 5560c for $5.5 hitting $69+
Entered SPX SPX 5620/25 bear calls for $3 went to 0
Rolled up to SPX 5580c for 6.50 ran to 49
Massive buying came in after 2pm.
Market action
Perfect possible failed breakdown reversal. I wrote that I must go long yesterday ideally at 547 and 552.50 reclaim. We got both! I was targettting gap fill but with that volume it triggered a massive buying spree and short squeeze into 560.50!
Literally 2 minutes after I wrote this, SPY jumped from 558.50 to 560.50!
it then natually floated back to 558. I was a little off on my Short goal entry on bear calls. I alerted I wanted for 3.50-4.50 and all we got was a push to $3. so only starter got filled!
Let’s see what today brings!
EDGE saves accounts!
One of the coolest features in Edge is the Trade Plan generation. We made the ideas for target 556-558 but guess what. When the the trade plan generator was asked for plans from 10:30-11:30, Edge said it could NOT find contracts it liked the risk/reward on.
Then when asked around during the 1:30 consolidation. It said it like SPX 5585c for 3.50 with $24 and 43.50 targets (I’m going from memory) and both were hit! How amazing is that?
There are still bugs with the planner so it isn’t perfect but it if it can’t find a contract with good risk/reward, it might not be a good trade to get into. You definitely might be overpaying and may get stopped out.
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 Mar 31
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!
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 Tue Apr 01
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
After a monster day like yesterday, today could be a consolidation day and a knife fight between bulls and bears.
So here is how I plan to trade it….