October 4
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Trades Taken: 3
Trade Plan
Plan: A strong push in this premarket after 8:30 numbers. Tempted to not even trade today. Will be using smaller size on this volatile Friday morning if I do trade.
A proper long would be into yesterday’s highs, protection of moving averages here. Reset long at previous close if need be. I like the gap up we have, and would love a long on the dip, it’s just that the push this morning is a bit extreme. ATH for SPY short, multiple levels marked for QQQ short.
Result: Three trades on this Friday, all smaller size. First was on QQQ 484 calls. I started a bit too early for my liking. While I did average, not quit enough, ending with a small red on this trade. I’m happy with still getting out where I did. I got reaction at level, push into 9 ema, so I paid out. My averaging just wasn’t good enough.
Second trade was on SPY 569 calls as both markets hit level at same time. Smoked this trade, one round of buys, peppering sells into first target. Wiped out my first lost to get me green on the day.
Third trade is what I call a halfway trade on QQQ 482 calls. After working at first level, we broke lows, reaching halfway between two levels, I often start here if it shows we have had distance. A nice scoop of lows, paying out into proper 1st target for a nice base hit. 2 for 3 today to end the week.
October 3
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Trades Taken: 3
Trade Plan
Plan: A move down this morning in premarket after 8:30 numbers. Initially I liked high of day and low of day for both markets. We have more distance now for a previous close test for a short on both, marked with yellow, SPY has closer protection on this trade than QQQ does. I do still like outer levels today. Both have an upcoming test of 20 MA if we break lower, that is interesting with speed and distance and right time of day.
Result: A bit of a divergent start this morning. SPY, while it popped for a few minutes, stayed relatively flat and consolidated first twenty minutes. I started with QQQ 482 puts as we approached the previous close. I started on first move, paid, added on proper test and was out perfectly before the squeeze for a nice trade.
Second trade came on SPY 570 puts, as numbers popped us into level, I averaged with smaller size, getting a nice payout after sniping highs on this move. Again, out before the squeeze. Volatile action once we ran further and hit extreme levels around 10:10 this morning.
Third trade came with an afternoon trigger after finally working our way down to a proper entry. Falling from highs, I took SPY 565 calls once we broke lows and continued down. Not a huge first reaction, but hey, I take what the market gives me. A typical first reaction trade right into first target for another base hit on the week.
October 2
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Trades Taken: 3
Trade Plan
Plan: Great price action yesterday. For SPY this morning, I like a dip into the previous ATH of 565. 20 MA is down at 561, this range is wide, but interesting. For a short, a run up and test of moving averages first thing would get me short.
For QQQ, low of day for a long, reset at the 20 ma. Moving averages for a short, similar to spy.
Result: First trade I worked on averaging on SPY 565 calls as we worked our way down. Very pleased with my averaging, paying out nicely and nailing morning lows. Averaging take time to work on, has a lot to do with acceptance, discipline, and risk management.
Second trade was on QQQ 477 calls as both markets screamed towards levels. Picture perfect reaction, catching first target immediately. Had really nice follow through, happy to catch the first bit.
Third trade on SPY 570 puts, a smaller trade as we approached the highs and open, I took consolidation here for a small move down. Didn’t want to stick around for another, enough action for me this morning.
October 1
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Trades Taken: 5
Trade Plan
Plan: A relative flat open coming into 9:00. ATH test for SPY is on deck, with protection multiple day’s highs. End of day vwap into 5 ema is interesting for a long on SPY. Yesterday was a fed speak, so cautious with size today for myself. We will often see a big counter move, but I try not to be biased, will play the levels as they come.
QQQ 5 ema for a long, reset at the 9 ema if it slips. Worked well off 9 yesterday after the catalyst. For a short, premarket highs has distance.
Result: First trade came on SPY 572 calls. No reaction whatsoever at level, slipped right to the 9 ema. This is a trade to really pay attention to. Next level (9 ema marked with pink line) was past the risk box, but I traded right into it anyway, I knew today would be a bit more volatile, have to give it more room. I did, added nicely into the 9 and paid out. While this was a red trade for me, I am very pleased with how I managed it. I took a large red (due to no bounce) and traded to next support, correcting the average, and getting out on push. This used to be a type of trade for me that would undo weeks of hard work. Having worked on my weaknesses, I was able to get out on this one properly with an acceptable loss.
Second trade came on a quick reset as we continued lower. Needed to reset on strike prices, nailing SPY 568 calls and saving that last little piece for 10:00 spike.
Third trade came on pure extreme distance with SPY 565 calls, knowing I had protection at extreme level. Sniped lows for a nice quick reaction.
Fourth trade came on SPY 565 next day (next day expiry due to time of day) Same idea of third trade, giving it a day out on expiry as a retracement was absolutely due. Fantastic read of reaction, and payout into proper targets. I took this a second time on the retest, another nice 10% reaction at lows again with protection.
SPECIAL: A very unique 5th trade today. Not only unique in the amount of trades I took, but this one is not on SPY or QQQ. This came on NVDA 115 calls (NVDA plan). I am committed this quarter to taking A+ set ups outside of SPY and QQQ. These will not be every day, rather I hope only once or twice a week. I track many other stocks on a daily basis. I mark levels and track movement every day, that’s what I do. Trading is not all about being in trades, rather it’s about stalking your prey and learning when to strike. I stalked this move right into moving averages and took a nice 10% clip on first reaction. It could keep shoot up, or go down. Doesn’t matter, I capitalized on the first reaction and that’s the point. I am looking for extreme test, a “smack you in the face” type of trade!
It is not often we blow past a valid support or resistance level. Being able to take PROPER reset trades to get back on the day shows growth as a trader. Turning a red day green is done through proper trading, not revenge trading, there is a big difference. You either win or you learn. Very happy overall with trade management and trade selection today!
September 30
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Trades Taken: 3
Trade Plan
Plan: A slight gap down heading into 9:00 am. A dip into the 9 ema on both markets is interesting for a long. Both need to break premarket lows first, SPY premarket low is of interest. If we have distance at the open (depending how premarket ends) the short plan will be previous close for both markets.
Result: Both markets pushed out of the gate, I went with SPY 572 puts as we pushed into previous close. A fantastic first reaction trade, I average right into a perfect test of level, paying out in a matter of minutes into first typical first target of 9 ema on intraday. A solid trade.
Second trade came on SPY 570 calls as we worked well on short level, started to inch down for a long opportunity. Just two rounds of buys on this one near lows and on volatility, price action pops right where and when it should, and I take advantage of the move with a near perfect exit on the first reaction.
Third trade of the day came on a rare afternoon trade. Today’s example gives the perfect definition of SPEED and DISTANCE into a level. SPY held in a two point range all day until 2:00. Then in 25 minutes dropped out for almost 3 and half points, right into 9 ema on daily chart (QQQ also lined up perfect).
Buying in to level (9 ema on daily chart) for SPY 569 calls trusting my understanding of volume levels for a perfect, you guessed it, FIRST reaction. I never aim to catch the whole move, just the pivot reaction.