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Option Day Trading SPY and TSLA: 4/24/23


My Daily Process for Trading SPY and TSLA Options


  • Focus on Intraday System Patterns A & B
    • Pattern A: reaction zone crossovers with confirmations for an RZ reject or bounce. 
    • Pattern B: key levels for a KL reject or KL bounce.
  • Fewer trades with more confidence.
  • Focus on SPY and TSLA options ONLY!
  • Time to simplify the process and improve/reach the next level.
  • Do not give in to negative triggers.
  • Do not give losers more time!


Market News

  • It looks like we have no high-impact news today.
    • Looks like we are trending sideways for now.
      • let's see where we want to go today!


  • For today, I have these levels marked: 
    • Reaction Zones: 
      • 412.50ish (yellow zone)- Gap down cross-over occurred. Wait for a retest.
      • 412.20ish (yellow zone)- Wait for cross-over.
      • 410.40ish (yellow zone)- Wait for the cross-over.
    • Key Levels:
      • 415ish (thick red dashed lines)- wait for the KL reject.
      • 409.5 (thick red dashed lines)- Wait for the KL bounce.


  • For today, I have these levels marked: 
    • Reaction Zones:
      • 166ish (yellow zone)- Wait for the cross-over.
      • 165ish (yellow zone)- Gap down cross-over occurred. Wait for the retest confirmation.
      • 162ish (yellow zone)- Wait for the cross-over.
    • Key Levels:
      • 169.50 (thick red dashed lines)- wait for the KL reject.
      • 160 (thick red dashed lines)- Wait for the KL bounce.


  • Okay need to just calm down for today. Just wait for my setups and take what is given.
  • We may have some gap-down re-tests coming up, but we can also have the cross-over variable changes, too....will need to see how price action moves today.
  • Got in SPY RZ re-test
    • stop just outside the RZ. 412.60ish
    • ideal exit the RZ below. 410.50ish
    • I do not like it getting out with small profits.
    • it looks like it wants to reverse and do a cross-over.
    • just going to wait to see what price action wants to do.
  • Not going to rush in. Going to wait for a nice cross-over and re-test...if we don't get it, we don't get it...
  • got in on the cross-over pullback on SPY... let's see where we can go!
    • stop 412.50
    • exit 413.50 midpoint is 413, so also aiming to exit here
    • I gave it time, but being choppy, I am out!!
    • Probably being extra cautious, but I DO NOT CARE!
      • yup gonna hit my
  • Possible re-entry on a better RZ cross-over re-test...
  • The market seems strong, while TSLA looks weak, so we will need time to confirm more of a direction on both.
  • choppy....the choppiness matched my unwillingness to give things time. An almost perfect match...
  • Be patient and wait...
  • Pathetic profits...but great adaptation and discipline.
  • We might get a reversal cross-over on SPY now, but we need to see what plays out...but still at a possible bounce 50/50...I do not like the price action, so it is better to sit and wait.
  • New RZ on SPY at 413....will wait for cross-over if that happens...otherwise might have a downtrend today.
  • Got in on the TSLA KL bounce.
    • stop 159.80
    • exit 161.50
  • Figures...I get in and panic more...
  • then it comes back up and barely scratches breakeven....gave it time to go green, then back to red...
  • unfortunate....just what I am dealt...
  • shit gains and almost perfect losses and still red on the day...This is the scenario that frustrates me so much.
  • now TSLA is bouncing more....just missed it by 1 min great...
  • figures...
  • whatever, out of time.
  • Small loss so far today...fine...but stupid
  • I'm considering eliminating TSLA from my trading strategy...starting to annoy me.
  • As soon as I got back, I wanted to put an order for the KL/RZ reject, and my entry was quickly taken away...
  • alright, got in
    • stop breaks/holds 160.
  • exit is 156
  • unbelievable...stopped out.
  • Done.
  • Bullshit.
  • Small losses and even smaller wins today.
  • Frustrated.
  • Switched. Let's see if it holds 160, and we finally get a grind up...
  • this will be my last trade... extraordinarily frustrated and annoyed with today.
  • Well gave it so much time only to make nothing.
  • Lesson today...just wait for more of a deal on entries. It is not worth it to enter perfectly or early...
  • Seems like I will be selling too soon here too. But I need to leave the computer.
  • Dude, I waited so long for it to move. So now the moment I needed to sell because I needed to go somewhere was when it moved!?!
    • come on!
  • Annoying.
  • Whatever. Circumstances have always been an issue. I hope no one has to deal with this ridiculousness.
  • But if you do, you must keep moving...dwelling will not help.
    • Just venting here so I can move on as well...
  • I just had to try one more. For the RZ reject on SPY.
    • stopped out.
    • another small loss.
    • I'm done.
    • Too frustrated.


  • Well, I gave it my best today.
  • Small losses and even smaller gains.
    • unfortunate day.
    • not much I could do better today other than to have waited for a better deal on the KL entry on TSLA, but even so, price action left a lot to be deserved today.
    • After I was out of TSLA, it performed as expected.
      • I gave it a lot of time, but unfortunately, my threshold was hit before it moved.
      • I made 5 cents and left 40 cents on the table.
  • Need to be okay with today and be ready for tomorrow.
  • Resetting everything back to 1 contract for now...there is still a time factor I want to optimize/test.


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