Will SPY kick off 2025 with green days ahead? Trade ideas for Jan 02, 2024
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Good morning traders !
On Tuesday we got a limited dump and more or less range bounce action. I ended up end the year on a red day and so it was a bit of a bummer. But at that point, I was also felt grateful for the year, the skills I’ve developed and the progress I’ve made with algo development.
Let kick off 2025 with a commitment to fewer trades with high quality trade setups.
If you are currently making 6 to to 10 trades a day, reward yourself for only taking 2-3.
If you want to improve how you trade I encourage you to sign up for THT PRO
PS. Congrats to Moe! I got a nice thank you message from him for teaching him my processes. He took SPX 5920p for $1 and it ran to $12 into the close!
Tuesday Highlights
SPY - dumped out of the gate and then consolidated between 585 and 587 all day closing at 586
TSLA - broke 416 support and flushed into 401s.
MSTR - finally broke under 300
Thursday Premarket Highlights
SPY - gapping up over 591 and testing 592
TSLA - gapping up into 410s
MSTR - tested 308 level in premarket, and faded back to 300 (overall weak)
NET - upgraded to buy by GS and gapping up to 115 with a 140PT by GS
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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.
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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
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None yet. First trading day of the year!
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Trade Recap for Tueday Dec 31
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
Nice clean reversal and run. Glad I wasn’t baby sitting it.
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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/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.
Let me know in the comments if you have questions or would like to see examples, I’ll share them.
Trade Ideas - Plan for Thursday Jan 02
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
Low Volume Gap up into resistance. Will bulls start buying or not is the question in my mind. Will we start a mini rally into inauguration day?
Read on for my thoughts/plans…