October 11
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Trades Taken: 2
Trade Plan
Plan: The inner trading channel is not much different than yesterday, so much so that low of day is the first long. I will be interested in a test of 9 ema on daily chart if they both align and come in with proper speed. ATH for short on SPY, QQQ short isn’t as clean.
Result: Markets were a bit divergent at the open this morning, SPY popping into ATH territory while QQQ dipped slightly into 5 ema on daily and staying range bound prior to 10:00 numbers.
I executed on QQQ 488 calls as we approached 5 ema on daily chart knowing we had low of day within acceptable risk of a feeler trader. Absolutely nailed lows with a nice 10% sell within 2 minutes, nailing the high of those candles. A near perfection trade regarding sells into 9 ema on intraday chart.
Second trade came a few minutes later on SPY 578 puts. I mentioned we were divergent, taking qqq calls, then spy puts shortly after. The puts worked well, not happy with my hesitation on the buy, I got out right away knowing I hit the buy a tad late on that one minute candle. Second entry much cleaner, and I respected my target. Keeping disciplined to targets is imperative. Even when trades don’t have follow through and it goes hard the other way, I still manage to be green because FIRST REACTIONS are everywhere if you know how to stay disciplined!
October 10
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Trades:
Trades Taken: 1
Trade Plan
Plan: CPI this morning, numbers sent us down to test previous ATH perfectly in premarket. If price stays above that 574.71 area, that will be first support with moving averages as potential protection. The longs are not very clean this morning, really depends how we open. The short plans are much cleaner, both have distance to the previous close for a first reaction trade. Plan was to size a bit more this month, but I also need to be aware of conditions. ATH territory for SPY, catalyst day, not the best idea to be trying to size on a day/week like this. Three base hits so far on the week, looking to continue the discipline and patience required for a first test only trade.
Result: After a few minutes of consolidation, market took a dip. A dip at the open = taking calls to plan and strategy. I nailed SPY 574 calls, both markets triggering my long trades. A fantastic trade, hitting it on two rounds of buys, selling on first push each time and locking in yet another base hit on the week. Consistency is key.
October 9
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Trades:
Trades Taken: 1
Trade Plan
Plan: Issues with my main computer this morning, using my laptop. Not ideal, will make it work. Charts may look a bit different due to scale.
SPY all time high test for the short. There is a 1 point gap between yesterday’s highs and ATH. Moving averages for the long are also near other support. QQQ short is a bit higher according to plan. Similar for the long though, moving averages has other support protection.
Not a huge fan of the action today overall. Pair that with computer issues, will focus on smaller size and discipline this morning.
Result: Morning started with a dip, that means I look for calls. I started on QQQ 487 calls as we approached entry area. Nailed lows on the first move, paying out right into 9 ema on intraday chart, peeling the rest a minute later. Missed the bigger move into previous close, but hey, I capitalized on a 10% candle there in less than a minute. Perception and mindset! Nailing the first 10% of a reaction at level is how I am green day in and day out. I don’t look for big moves, I capitalize on first reactions.
October 8
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Trades:
Trades Taken: 1
Trade Plan
Plan: A gap up this morning after the sell off yesterday afternoon. The moving averages are the first level of support on the markets this morning, a proper move down first thing would get me long on that. Further down we have the previous close test. For a short, both markets could test trend again today, both having protection of multiple resistance levels. I do prefer the longs today.
Result: With a dip out of the gate, averaged into moving averages with SPY 569 calls, and nailed the first reaction with a proper payout into target 1. While others are still figuring out what to trade on the day, I’m locked in (to plan) on another base hit. I don’t stick around for big moves, I get my 10% on the day and move on with my day. Consistency is key.
October 7
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Trades:
Trades Taken: 1
Trade Plan
Plan: Not a huge fan of the action this morning. Both markets do have previous close for a short with plenty of distance. How and when we test that is important. For longs, moving averages are there for first support, but the lower gap fills and low of day from Friday are of more interest. A lot of fed speak this week, and CPI on Thursday. I expect a decent breakout or breakdown by end of the week. I will look to capitalize on first movements, and get out before fireworks.
Result: A bit of a dip this morning on first move, both markets resting just above the 5 ema on daily chart. I took SPY 569 calls on quick confirmation on the 5 ema for a first move right back into morning highs for a fantastic trade to start the week. While the 9 didn’t trigger, I was willing to start at the 5 ema and average into the 9. Well, it worked perfectly off the 5, no need to add, pay out into highs. This is the pure definition of capitalizing on the first move, a clean 10%. It doesn’t matter if it keeps working, or fails hard, I’m locked in on the day within 7 minutes (was in the trade for less than 2 minutes).