Will Trump's Iran comments derail the rally after SPY reached 604? Trade Ideas for Tue Jun 17
What's stopping you from making 500-1000%? Stop overtrading, and make more in less time. Read on to learn how I do it.
Good morning. The market is gapping down overnight after Trump commented about solving the Iran problem and left G7 early. The question for today. Will it get bought up again?
Monday was relatively quiet. Name of the game was follow process — wait for great risk/reward and strike.
Remember if your goal is bank and grow your account, your goal should be to trade less with high probable great risk/reward trades only. There might be 0 in a day. Maybe just 1 to 2. If you watch the market all day long, imho you are hurting your chances for success in trading. LESS IS MORE.
Here is what I mean…
SPY / SPX
IDEA: SPY 601.50 turns into support and 603.50+ coming
Unfortunately there wasn’t much lead time on my alert to members for going long on 601.50c. Within 2 minutes it launched eventually reached 10.50. Essentially a 100-300% gainer within 90 minutes.
Most of the work was done in the planning and then setting bracket orders.
Change your focus to return on time and effort spent. lets say 2 hours. 9:30-11:30.
Here is how:
Buying 10 contracts for at $2.50 for $2500
Sell 5 at $6 making it risk free.. Collect 1750
Sell 2 at $9 (per Edge Trade Plan). Collect 1300
Sell 2 at $10.50 (my target order). Collect 1500
Sell 1 at 7 on 11:00am fail Collect 450
1750+1300+1500+450= $5000
That is a $2500/hour yield. Do you need to trade more and risk this profit?
I spent years over trading vs accepting my easy money trade and walking away.
Spectre Special
This was especially difficult end of day. I was shooting for a 6045 close. And kept buying 6030c selling 50% for at 100% gain until I got my last attempt at 0.50 this ran to $3. It was especially frustrating. Too time consuming to share each alert.. But here is the key principle. On 0DTE. I have a target, but I always sell 50%-70% at 100% gain to make it risk free. There is a high probability they go to 0. but if I go the target I wanted I would have made massive gains. It’s basically very active trading during the last 15-30 minutes of the market. You have to be super disciplined but it can be worth it!
Last trade $0.50 → 3 = 500% gain.
META
IDEA: dip and rip off 694
META announced Whatsapp subscription offerings and yesterday I wrote I wanted 694 dip to get long.
Dipped perfectly to 694 level! Delivered over 100% gain in 1 hour and we had a whole week to get more. unfortunately it stalled out and runners got stopped.
I’ll be trying again if I can fill for under $2 and market looks like it can rally/breakout this week.
10 contracts. $3500
sell 7 at 7.50. Collect $2800
sell 3 at 6. Collect $750
$3550 profit in under 2 hours.
That is $1775/hour!
This is the Two Hour Trading way!
There is massive opportunity in this market. Are you taking advantage? Literally have planned and alerted trades that pay over 300-1000%! You will need patience to wait for entries and the exits. But if you have self discipline or trust bracket orders, my process can help you get the results you want.
Thoughts from Monday’s price action:
SPY is resilient and rips get bought BUT it is struggling to hold over 603.50.
Look for reaction to 597-598 in coming days and 604.50 to clear for more upside
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
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 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.
Securing Profits on Options overnight
Sometimes you get this massive paper gains overnight on options but you can’t secure it right? Well if you have a big enough account and a margin account if you have calls you can. What you need to do is buy or sell the stock overnight. and the option turns into a hedge against that position essentially securing your profits.
Trade Ideas - Plan for Tue Jun 17
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
Overnight SPY dipped back on 598s and is back at 600.50-601. AMD is gapping up.
Is this recovery real or will it be a low volume pop/push that leads to some selling/unwinding is what I’m wondering. So how do I address this? Well I default to BTFD. look for dips and failed breakdowns for entry. Otherwise I chill.
Here is what I’m looking at today…