This $SPX day trading strategy made me 6 figures
I broke it down into a simple 4 step process that's easy to follow
Take 2 mins to learn the exact system: π§΅
(with examples)
I broke it down into a simple 4 step process that's easy to follow
Take 2 mins to learn the exact system: π§΅
(with examples)
The basis of this strategy relies around Supply/Demand
If you want to learn that, check this thread here
If you already know it, keep scrollingπ
If you want to learn that, check this thread here
If you already know it, keep scrollingπ
1. Identify your Daily and Weekly zones
Even when I scalp, it's important to identify your higher timeframe zones
I don't trade off them, but more on that later in the thread
Here's $SPX zones
Even when I scalp, it's important to identify your higher timeframe zones
I don't trade off them, but more on that later in the thread
Here's $SPX zones
2. Identify 30m and 1h zones
These are zones that I trade from so it's important to get high quality zones
See below
These are zones that I trade from so it's important to get high quality zones
See below
Before we get into how I trade them, there's 3 rules you need to know:
1. Use higher time frame zones as guides (don't buy in HTF supply zone)
2. Only use fresh zones
3. Do NOT play the flip (previous supply becomes demand)
Let's get into how I trade them π
1. Use higher time frame zones as guides (don't buy in HTF supply zone)
2. Only use fresh zones
3. Do NOT play the flip (previous supply becomes demand)
Let's get into how I trade them π
Firstly, I'll trade using the 5 min chart
No need to really "trade" off other timeframes because I have all my zones already marked
No need to really "trade" off other timeframes because I have all my zones already marked
I want to buy off the smaller time frame demand zones and short at the smaller time frame supply zones
BUT I never enter right as price hits a zone
I wait for confirmation
So what are my confirmations?
BUT I never enter right as price hits a zone
I wait for confirmation
So what are my confirmations?
I have multiple but I wanted to keep this strategy super simple
1. Look for a rejection pattern on the 5min
Here's what rejection patterns look like
1. Look for a rejection pattern on the 5min
Here's what rejection patterns look like
2. Wait for price to come OUT of the zone
I always waited for price to go in and enter when price comes out
I always waited for price to go in and enter when price comes out
So after we see price have a reversal pattern AND it shows that it wants to go away from a zone...
Is when I'll enter
Now here's how I manage my riskπ
Is when I'll enter
Now here's how I manage my riskπ
Stop loss: Right above the high/low that formed at the zone
Target: Take half of my contracts off at 1R
Then:
- Move stop breakeven
- Hold runners for 2R
Target: Take half of my contracts off at 1R
Then:
- Move stop breakeven
- Hold runners for 2R
I've refined the process quite a bit since trading this way, but to keep it simple you can follow the above
This strategy does work on other stocks but I used it while focusing on $SPX so I know it works
As long as you keep a constant risk, profits will come
This strategy does work on other stocks but I used it while focusing on $SPX so I know it works
As long as you keep a constant risk, profits will come
Hope you enjoyed!
I'm putting out a thread everyday for November.
So follow me @FT__Trading to see tomorrow's thread and comment below what else you'd want to see π
I'm putting out a thread everyday for November.
So follow me @FT__Trading to see tomorrow's thread and comment below what else you'd want to see π
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