Wednesday, January 29, 2020

Jan 29 Trades


Today I closed two trades including an spx 0 DTE (zero days to expiration) and both were winners. The first trade  was  SPX 0 DTE trade based the modified bollinger bands strategy but on 5 min candles, and the second trade was on PNC based on the same modified bollinger bands strategy but on daily candle. In this post I will try to explain the strategy used for these trades, and the same strategy that I use to share my trades on the free whatsapp group that I have which is open to anyone who would like to join.

Trade 1: SPX 0 DTE trade

In short for the modified bollinger bands strategy, I scan spx on a 5 min candles for 5 closes below or above a modified bollinger band of standard deviation of 0.382 a well as the 50 SMA. 

At 2:10pm central time, SPX 5 min candles came up on my chart by showing 5 closes on the 5 min candles below the modified bollinger bands and 50 sma. 

So I placed the trigger below the lowest of these candles and at 2:15pm the trigger triggered so I entered a call credit spread  and I sent out an alert on the whatsapp group.

On these kind of trades on the 0 DTE spx trades I like to take profits at 50% and go on to the next trade so when we entered we collected 0.85 on the CCS and I set a GTC order at 0.4 with our stop loss being three times the credit received so in this case 2.55.

Today around 2:41pm SPX  went down  in price and our profit target was hit and we closed the trade for 50% profit and we sent the alert to the whatsapp group that we closed it in case anyone was following it thus making a profit of $45 profit per contract. 




Trade 2: PNC trade

In short for the modified bollinger bands strategy, I scan everyday the stocks for 5 closes below or above a modified bollinger band of standard deviation of 0.382 a well as the 50 SMA. 

On January 22, PNC came up on my scanner by showing 5 closes on the daily candles below the modified bollinger bands and 50 sma. 

On January 23 the trigger below the lowest of these candles triggered so I entered a call credit spread and I sent out an alert on the whatsapp group.

On these kind of trades I like to take profits at 25% and go on to the next trade so when we entered we collected 0.58 on the CCS and I set a GTC order at 0.4 with our stop loss being double the credit received so in this case 1.16.

Today around 2:21pm PNC  went down  in price and our profit target was hit and we closed the trade for 25% profit and we sent the alert to the whatsapp group that we closed it in case anyone was following it thus making a profit of $18 profit per contract. 

Total Profit for Jan 29 2020 profits:

Trade 1: $45
Trade 2: $18


Total: $63 per contract.

Hope this blog helps you find profitable strategies and in case you want to follow my trades please join the whatsapp group