July 19

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Entries charts provided by IBKR.com

Trades:

SPY 553 calls

Trades Taken: 1

SPY

Plan: Looking for a pop into moving averages for a short. While previous close for both markets could hold, there isn’t much distance. Combine that with it being Friday, I want distance, so low of day for the long.

Result: Did not get my proper triggers, but I did spot an opportunity on a remount of previous close on spy. Great practice with smaller size on a Friday for this type of trade SPY 553 calls.

QQQ

Plan: Looking for a dip into low of day for a long, and moving averages for a short.

Result: While price came quite close to short entry area, since we dipped first, I elected to take the remount opportunity on SPY.

July 18

Trades:

QQQ 482 calls

Trades Taken: 1

SPY

Plan: Squeeze into 561.50 area and gap would get me short. Reset at ATH if needed. A dip into 557 is interesting. There are 3 unfilled gaps including previous close within/near risk.

Result: SPY held the 9 after the open, too close for my comfort, then I realized a long into previous close would only headbump into the 9. Switched main focus on QQQ

QQQ

Plan: Looking for a squeeze higher to test moving averages and high of day. A dip into pm lows and previous close would get be long.

Result: A nice dip at the open into entry area so I took QQQ 482 calls. Nice payout on first push like always, got this green push in 1 minute!!! Done by 10 am yet again, right to plan.

July 17

Trades:

qqq 487 calls

Trades Taken: 1

SPY

Plan: Substantial gap down this morning. 556.50 gap area for a long, this could be very close to the 9 on the daily. For a short, a straight run up into 561.50 area. This is a 5 point channel, very wide today.

Result: No true trigger during morning session, had a 5 point channel so not surprised considering I wanted range. QQQ tested and worked to plan.

QQQ

Plan: 487 previous range for a long, potential trouble there if it headbumps with the 20 ma on daily. 491 and low of day for the shorts if we shoot up at the open. Again, wide range, size down, wider risk.

Result: took qqq 487 calls to plan on the dip, nice payout on first push then it failed hard to next level. Another important lesson of why the first push is critical and why I go after that.

July 16

Trades:

QQQ 496 calls

Trades Taken: 1

SPY

Plan: Previous close for a long, have protection, but like qqq long better. ATH for the short.

Result: Spy did not quite run up into short trigger, and no true trigger for be before 10 am on spy.

QQQ

Plan: I like a long on qqq with a dip into previous close. Have the 5 ema and friday’s close all within risk. For the short, 499.60 area.

Result: Markets opened a bit divergent this morning. Went with the dip into previous close on qqq. Did not wait perfect for level, and this is a great example way. Check out QQQ 496 calls to see why it’s so important to pay out on first push. The value dropped over 80% AFTER I nailed my exit. Another trade done by 10:00 am to plan.

July 15

Trades:

QQQ 498 puts

Trades Taken: 1

SPY

Plan: First level of support for both markets will be previous close for a long. Don’t care for the short of SPY, PM highs and friday highs are only levels to go off of.

Result: SPY opened while already in the starter area, so no distance to take the trade. While the trade still worked and level was respcted, I focused on QQQ.

QQQ

Plan: First level of support is the previous close for qqq. The short levels are more enticing on qqq than spy.

Result: Stuck to plan and focused on QQQ, Took QQQ 498 puts into level, paid out on first wash and out at morning lows. Right to plan, and done with my morning by 9:45 est (6:45 my time!).

Lesson: Plenty of time left in the day for traders, but while most are scratching their head trying to figure out what to trade, my plans got me in and out to routine, just the way I like it. I DON’T CARE what happens the rest of the day, I passed my test and earned my freedom for the day.

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