Monday, February 3, 2020

Feb 3 2020 Trades

Today I closed one trades and it is an spx 0 DTE (zero days to expiration) and it was a looser. The trade  was  SPX 0 DTE trade based on the modified bollinger bands strategy  on 5 min candles. 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 1:25 pm 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 1:36pm the trigger triggered so I entered a call credit spread  and I sent out an alert on the whatsapp group.

The Trade I entered was:

STO -1 VERTICAL SPX 100 W 3 FEB 20 (0) 3255/3260 C @.70 LMT

Sell Call 3255
Buy Call 3260

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 0.7 on the CCS and I set a GTC order at 0.35 with our stop loss being three times the credit received so in this case 2.1.

Today around 2:35pm SPX  went up  in price and my stop loss was hit and I closed the trade for a loss of $140 per contract and I sent the alert to the whatsapp group that we closed it in case anyone was following it. Of course as soon as i did that spx turned and headed in the other direction and this spread expired worthless at the end of a day for a win. Some people that followed my 0 DTE trade today stayed in it since when they got in they had  a better fill so their stop loss was more than mine and they ended up with having a winner for this trade but for me today's spx ended up being a looser. I am sticking to the plan and staying disciplined as much as i can to be able to trade the next day. 

Total Profit for Feb 3 2020 profits:

Trade 1: $-140

Total February Trades Profit/Loss: $-140 per contract.

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