THE ESTIMATED TARGET DOESN'T
MEAN THAT THE STOCk or etf
WILL GO to the target.
THIS IS MY PREMARKET PLAN
WITH POTENTIAL TARGETS AND
ESTIMATES so you can see
how I prepare for
the market open.
ONLY THE PRICE ACTION AT THE
MARKET OPEN MATTERS.
PREMARKET PLAN
sCENARIO IF spy
KEEPS GOING LOWER
SPY PUTS
STRIKE: $411
EXR: MAY-12-21
TARGET: $410
MY POTENTIAL ENTRY:
bREAK OF SUPPORT
SCENARIO IF SPY
KEEPS GOING HIGHER
SPY CALLS
STRIKE: $416
EXR: MAY-12-21
TARGET: $425
MY POTENTIAL ENTRY:
BREAK OF RESISTANCE
SPY STRANGLE
(ADVANCED OPTION STRATEGY)
BUYING SAME QUANTITY
CONTRACTS CALLS AND PUTS
SAME EXPIRATION DATE
PUTS $411 STRIKE
CALLS $413 STRIKE
EXR: MAY-12-21
TARGET: SELL END OF DAY
OR TOMORROW MORNING
POTENTIALLY LETTING THE
WINNER SIDE RUN
mY POTENTIAL ENTRY
AT THE MARKET OPEN
TSLA PUTS
STRIKE: $600
EXR: MAY-14-21
TARGET: $550
MY POTENTIAL ENTRY:
AFTER BOUNCE TO RETEST
RESISTANCE
Stop Loss: My max loss
tolerance of any trade is 30%
I TRADE ALWAYS SMALL POSITIONS
SMALL POSITION + STOP LOSS IS KEY
Beginner guide:
No experience and or can't
tolerate any losses:
Only paper trading
Some experience and can
tolerate small losses:
Only 1 contract
(max $300)
Stocks can suddenly crash down
or burst to the upside.
I may change my own plan
at any given moment.