Will markets consolidate while waiting for AAPL META MSFT to report this week? Trade Ideas for Mon Apr 28
Are you planning your trades? Do you know when not to trade?
I was impatient on Friday, and got stopped twice on SPX trades during first hour. I should have waited for the failed breakdown and 543.80 dip that I originally wanted.
But that is ok. I remember Edge’s option scanner indicating massive credit sell on SPY 290p on Thursday’s close. So when I saw the price action on TSLA I quickly alerted taking TSLA 290, 280, and 275 calls. These all went on to deliver 1000-2000% gains over the next 2 hours. It was glorious! I also nailed the exit prices within 10-20% of the actualy top with 90% confidence. :)
We scooped 290c for .05-.06 targeting $1.10. It ran to 1.20!
What a day!
Stop being a hobbyist and invest in becoming a focused disciplined trader with a trade to win mindset with us.
Overnight Action
SPY dipped to 547 and is working its way back to 550-551.
META is gapping up and reports on Wed.
AAPL is poised to run and is slightly gapping up.
MSFT is point to run to 415 imho this week.
Read on to the ideas section for what I’m planning today.
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 Thu Apr 24
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
After stopping out twice on SPX I disregarded it and focued on TSLA
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 Mon Apr 28
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
Everything looks poise to break out on daily. However I’m hesitant to go long at resistance here. I’ll be watching for volume on SPY and see if it wants to reject 551 or run to 560. Overall I think pushes might have some selling and resistance until we get a catalyst.
Overall theme is have patience and BTFD, and sell at resistance while leaving potential runners in play.