Will SPY bounce today or will the selling continue? Trade ideas for Friday July 19, 2024.
THT PRO members caught over 3 600-1000%+ trades yesterday! Read about how.
Good morning traders!
Yesterday was a phenomenal day for THT PRO members, who managed to secure over three trades with returns between 600% and 1000%! Let’s dive into the details and explore how these impressive gains were achieved.
Blog subscribers also had the ideas spelt out for them yesterday and the target was incredibly precise for the opportunity to catch 5 to 9 points!
Introduction (for New Readers)
Welcome to my blog on Two Hour Trading—your daily source for market insights and trading opportunities. Here, you’ll find comprehensive market analysis, educational lessons, and trade ideas to help you excel in trading, all while spending less than two hours a day.
What Subscribers Get
Subscribers receive daily market analysis updates, educational content, and up to three trade ideas each morning based on real-life examples and my trading approach.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
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
2024 Alert Leaderboard
Here's a look at some of the potential gains achieved through our entry alerts:
July 17 - SPX 5580p $5. reached $53+! ($5000 —> $53000 potential)
July 17 - SPX 5540c $2. reached $16! ($2000 —> $16000 potential)
July 16 - SPX 5660c $2. reached $10! ($2000 —> $10000 potential)
July 15 - SPX 5650c $1. reached $4! ($1000 —> $4000 potential)
July 11 - SPX 5600p $2. reached $23! ($2000 —> $23000 potential)
July 09 - Credit Sell SPX 5590/5595 bear calls 2.30-2.50 stops at 2.60 ( $2500 premium collected per 5k position risking $300)
July 08 - AVGO 1800c 13( $1300—> $2250 potential)
July 08 - SPX 5560p 2.50 stops 2.30 ( $2500—> $5000 potential)
July 08 - TSLA 270c 4.50 target 7.50 ( $4500—> $7600 potential)
July 03 - SPX 5520 2.5 ($2500—> $18000 potential)
July 02 - TSLA 225c 3.5 ($3500—> $8500 potential)
July 02 - SPX 5500c 2.50 ($2500 —> $10000 potential)
July 02 - SPX 5470 Bull Puts 2.50 ($2500 credit collected)
July 01 - closed TSLA Swing $2.65—> $12.00
**Past Performance is not indicative of future results
For live alerts and market commentary click the button below.
Wednesday’s Recap
Let’s review Wednesday’s trades. Did you take advantage? If not read on an learn how.
SPY/SPX
Let’s review. Yesterday the idea I wrote for SPY 0.00%↑ :
Same plan. watching for reaction to 559.70. I’d still like to see some gap fill from Tuesday night, before a bigger sell program develops, if one does in coming days. Game plan, if 559.70 rejects again, small short. If 556.50 breaks then gets heavy, go short for next leg down. break of 553.80 could bring 550-551.
Overall yesterday was the play I was looking for to develop the day before. Remember how I said I don’t care about losing like I did on the yolos the day before. Why because I’m systematic. So we followed the same process here. And it paid massively!!!!
Let’s breakdown the trade process
Trade 1: 559.60 rejected, break of vwap. GO SHORT. 5580p went from 5 to 15.
300% gainer potential
Trade 2: on pop up and back test. I alerted trying to reload at 4 and 5. It dipped to 5.50 and I chased the reload at 7.50
1000% gainer potential on initial entry 600% on reload alert. Alerted exit at $52 on 5580p from $5 morning entry alert
Trade 3: on break of 556 developed took SPX 5550p and 5530p as yolos for the day (moved too fast to alert)
Trade 4: 554.80 double top rejection after lunch. I missed this as I was walking back from lunch but THT-PRO members knew what to do and got it.
Trade 5: Planned for bounce/reclaim off 551.80 targeting vwap, SPX 5540c from $2→$16 (dipped to $1)
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!
Trade Ideas - Plan for Friday July 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
I think today could be more difficult. There should be BTFD action that comes in but if it fails, and more selling hits, we could be in for a nasty drop. The question is, will it be clean action or will it be choppy. Reminder today is OpEx so we could get some wild moves or they could bleed the contracts or possibly a bit of both!
Stick to the process and consider trading a little bit smaller today unless it is a no brainer trade setup.