THE TWO BEST TRADES EACH DAY?
For use on AGAIG High Profit Options Trading Chart
and most other AGAIG chart setups
For use on AGAIG High Profit Options Trading Chart
and most other AGAIG chart setups
So, what are the best two possible trades each day (I answered this before to a question and will again show it here as a trading strategy).
These TWO BEST TRADES are the FIRST TWO TRADE ENTRIES (Long or Short) that take place AFTER ORB (Opening Range Breakout) on whatever stock/ETF you choose to trade.
Opening Ranges Breakout is considered to be the first 15-30 minutes after market opens. ORB is usually the most volatile time of the trading day. Option prices are usually highest price (cost) during this period of time due to the pent-up energy built during after-hours and pre-market hours for opening trades being placed, or for trades already in place that individuals are hoping to close at the opening market pop.
To me the best two trades of the day are the first two change of direction trades that take place around or after 10:00 a.m. As examples I will show two charts (4 trades) on QQQ, SPY, TSLA and APPL that took place yesterday 9/9/24 after ORB.
The QQQ first entry (short) was at 10:25 – 11:20 for 4.94 points. A re-entry long was at 11:30 – 1:15 for 5.94 points.
The SPY first entry (short) was at 10:10 – 11:15 for 3.11 points. A close of first trade and re-entry (long) was at 11:20 – 1:20 for 4.82 points.
The first TSLA (again short) was at 10:25 – 11:15 for 5.32 points. A close of that position and re-entry (Long) was at 11:20 – 1:20 for 4.11 points.
Lastly AAPL first trade (Long) 11:00 – 1:40 for 3.58 points. A close of that trade and re-entry (Long) from 1:40 - - 2:40 for 3.77 points.
The total points on those trades was around 35 points which ATM (At the Money) entries X .50 X 100 = roughly $1,750 profit for single contracts.
It has been my experience that an AAPL a day (especially between two crusts, warmed, and covered with whipped cream) is good for the soul!
You can do this with any of your favorite stocks (ETFs) because of the movement up/down throughout the day and I find the first two moves (trades) after ORB can be most productive. Beyond these two trades the market may mostly turn to chop.
Exits are when two or more indicators suggest another change in direction. Look back at a couple of your favorite stocks (ETFs) and see how this type of trade would have gone for you yesterday? My exits are usually when the Murrey Math Pivots are reached especially for stocks that are not O DTE (Zero days until expiration). Stocks will give you extra time to play out.
Also for those of you who are limited to 3/5 trade’s in a five day period, if you trade more than one contract at the same time (both entry and exit) it will count as one day trade. One can also open a cash account which has no day trade limits (the limits are the amount of cash you have on hand in the account to trade and your cash will not be replenished until banks and market open the next morning for trades placed the day before. Then you will have your cash available once again if you had used it all up the day before).
Happy trading and then finish with a hot piece of AAPL pie!!
QQQ & SPY:
TSLA & AAPL:
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