Tuesday, March 10, 2020

March 9 2020 Trades


Today I closed Three trades as winners. Trade 1 was an spx 0 DTE based on the modified bollinger bands strategy  on 5 min candles and Two trades on SPG and LIN were based on the same strategy but on a daily 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 11:56 am 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 12:06 pm central time 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 1.2 on the CCS and I set a GTC order at 0.6 with our stop loss being three times the credit received so in this case 3.6.

Around 12:36 pm SPX  went down in price and our profit target was hit and I closed the trade for a profit. Just sticking to the strategy and the trading plan since no one knows what spx would do especially toward the EOD.  


Trade 2 and 3 SPG and LIN:

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 March 2, SPG came up on my scanner by showing 5 closes on the daily candles below the modified bollinger bands and 50 sma. 

On March 5 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 February 28, LIN came up on my scanner by showing 5 closes on the daily candles below  the modified bollinger bands and 50 sma. 

On March 6 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 and our stop loss is two times the credit received as you can from the images below how much we collected and how much we paid to exit the trade and keep the profit. 

 


Total Profit for March 9 2020 profits:

Trade 1: $60
Trade 2: $40
Trade 3: $95



Total: $195 per contract.

Total March Trades Profit/Loss: $865 per contract.


Please note that I am sharing per contract and when I send my alert to the free whatsapp group I send 1 contract because each person has a different risk tolerance and for easy math for example if it is 30$ per contract then it is $300 per 10 contract. this way a small account user or a big account user can decide if they want to go with one or more than 1 contract. I usually trade sometimes 3 and sometimes 5 contracts but I like to share 1 in case there are people that have small accounts and want to grow it 1 contract at a time. 

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