I Made $61k Day Trading This ONE Strategy | Full breakdown

I made a little over $61,000 today. Day trading Spy. And in this video, I want to walk you guys through my full game plan. Where I got in, where I got out, how much I risked, the game plan, and just kind of give you guys a full walkthrough of this overall trade. So with that being said, let's dive into it. So right here, as you guys can see, made about $61,000. Primarily traded spy. And as I traded spy, there was three trades I've taken on one trade I lost 17k. Second trade made 77k. This was just an accidental trade. So ultimately took two trades. Right. So now let's just start off from the beginning. Let's start off before I go into a day. Right. Before you guys go into any day, you need to have a game plan, right? What is your game plan for the day? What are you looking for? What are your key levels? What is the market event, market context? Just to understand. You can't like a lot of people look at trading and they think the moment I take on a trade, the moment anyone takes on a trade, they'll automatically think that, oh, it's just clicking buttons. Oh, if you click one button or another button, buy and sell, you'll make X amount. No, there's a lot more preparation that goes on behind the scenes. And that's what I want to show you guys. Right. I don't want you guys to get drifted away from the 60k and sale. Well, he made 60k by buying here and selling there. No, but now let's understand why I bought there. Let's understand why I sold there. Let's understand the psychological barriers I've had after taking a loss right on the open and continuing the next trade. Right. So game plan for the day. So yesterday the market moved up, moved up very strong. Yesterday I was watching the 410inflection point for any pullback rejection after getting an exhausted move. If no slowdown, look for the long. So let's go in the SPY chart and understand what has happened yesterday and just kind of break that down so we have, we have a good understanding and foundation for what is going on. So yesterday we got a very strong move up on Spy to close out the month. As you guys can see, we went right above the 200 day SMA, went right into the 410 inflection point that I have, which is a massive, massive supply zone for me that I set out. We, we were going in right there. So right, with that game, game idea. Right. With that mindset I was like, hey, we're going into a key inflection point. We had a strong move. We have job reports coming out on Friday, so maybe we might see some consolidation or pullback for the job reports tomorrow, which comes out Friday. So now, see, when I'm trading spy, those things factor play a big factor in understanding the market context on what may possibly happen and what may possibly not happen. And it's very important as a trader to put those pieces together. So with that, I go into the day with my current levels. My first idea of the day, right? And this is where I kind of want to get into it. My first whole idea of the day was we're going to open up. If we see any weakness in. In the 410, I will look to short. Now, my first trade that I took, let's just go into that. This is the first trade. So my first trade I took had about 400 contracts, right? And I got in at. I got in around 939, right? So 939 is right here. So I got in right here. And the reason I got here is right when we opened, we started fading around four or nine. Once we started fading around four or nine, I was like, okay, we're fading around four or nine. We're unable to break. So a lot of times I'll take like the morning top reversal play here when we start seeing weakness around a key zone and this whole zone, even though notes one point is like the zone I'm kind of focused on. Once we start seeing that, I'm like, okay, I'm ready to go in. And I got a little, little bit too excited. So I made a mistake here, right? It wasn't the best trade. I got a little bit too excited. Usually I wait for the continuation or I try to take the trade here to offset some of my risk in this situation. I legit went in for the low of the day, which is a mistake I made, and I don't like to do that often. And obviously it happens. Took that trade right there at 939. Once that trade happened, you guys can see this trade started going against me. And here's the option contracts and how the option contracts moved, by the way, let's just kind of take take a look at that. So the option contracts are right here. These are how the option contracts you got moved. You guys can see very, very terribly. Went from about $1.30, $1.20, all the way down to 80 cents. So right when I get in, we start getting a heavy, heavy Reversal. And I'm like, okay, is this a kind of a pullback? Are we going to start seeing some rejection? And then right when we start holding around 950, 951, that's when I'm like, okay, I think we might just maybe pop. I don't know. Now I'm getting confused. A lot of times when that happens, I will start exiting my position. So around 950, right, right here I exit. We make a high of the day. Right when make high of the day, I'm like, okay, we're getting close to 10am I'm going to exit my position and I'm going to stay cash and take it from there. So I exit and right on the first trade of the day, I lose about 17k, about 33%, about 1 hour. Right? Was risking about 14k on this. So not the best trade. Didn't work out. And it happens. As a trader, there will be days, days where trades don't work out. You learn from it, you take it from there. Right. My mistake here, entered too early. Could have waited for confirmation or maybe entered a little bit before this entry was wait, was way too late because I don't like to enter in low of the days or high of the days. Right. So a terrible, terrible entry on my end. You live and learn. Now this is psychological part I want to share with you guys. A lot of times when we traders take trades like this, right? This is like the big part. When we take trades like this and we lose X amount on the first trade of the day, we start destroying our mental capacity. We start exhausting ourselves out. We start destroying our confidence. So yes, my confidence a little bit going into this second trade was kind of shaken off. So if you notice, I didn't go and take the second trade two minutes later, five minutes later, I kind of wait a little bit and also I wait for that 10am Mark. And a lot of times when I have an opening losing trade or a losing trade, I'll try to step back and just try to reset for a minute, reset for two minutes just to get my thoughts together and not get stuck on a big loss or not get stuck on a loss overall. Right. Because that, that, that will and most of the time does carry over into a trade. Now the second trade, second trade I entered around 1,400, right? You're going to 1004 right here. Now going to walk you guys through the second trade. So the second trade kind of came from the same initial morning game plan, right? We have this whole zone. We Got the rejection here. After trying to go higher. Once we get the rejection, 10:00am happens, we get a lot of confusion with the push down. We start holding this area again, which is a 4, 8, 25, right? So we start coming into this, like key zone that we start holding. We start seeing some sort of hold here, especially on the open. And I'm like, okay, we got the big move at 10am The 10am moved, in my opinion, looked very weak in terms of going more to the downside. So we're holding here. We're hanging out and we've kind of rejected at the top. We're seeing a lot of weakness happen in the overall markets. Markets aren't showcasing that much strength. And I'm like, okay. So with the first 30 minutes, I don't see us kicking in with strength again, right? With all the factors that I've laid out before. So I think there's a high probability that, that the 408 level is unable to sustain itself. And we start seeing a slow fade. Now. I did not anticipate us to sell off the way we did here. It was more of a slower fade into maybe four or seven fifty, maybe four sevens. And that was it. That's what I was kind of aiming for. Now what I did initially here is I built a position around 1004 and 1007. So 10, 04 right here I built, I bought some contracts and then 1,007, once we start breaking that, I buy some more. So I start building my position here with the idea that we might possibly, we might possibly start fading down not the way we did. I did not anticipate it to be this fast. It was more of a slower fade into the four sevens, maybe something like this. And I was going to start scaling out. That's the position I was trying to build on right now. Once I got in 10,04 and once I got in 1007, right away you guys can see, get into a heavy position. My running P. L right here, I start being up 2700-700070-09000, 13,000. The trade starts going in my favor. Now this is the tough part about trading, where you're in a position and you're up, right? You're up 8,000, you're up 10,000. Whatever the amount is, you're up a good amount. It becomes very hard to hold through that. So realistically, holding through this was hard. So right when we start, you know, right when I have a position built, we have the first big leg down at 1011, 1011. We just flush. And typically a lot of times when we flush like the way we did at 10:11, my mind goes to take something off. Now, the reason I didn't take something off at that exact moment is because I. I said I'm going to watch the next minute movement. And if we start seeing any hold like we did here, I will start scaling out. If not, I'm willing to risk a little bit more to let this keep bleeding out because I think the bleed out is coming, right? So once we go here, you see at 10:12, I start, I start scaling out, I sell more than half of my contracts and I start scaling out right here. And at 10:12, if we go here at 10:12, you guys can see at 10:12, my overall position is up about 64k already, right? So all my overall position is up 64k. I sell some here. As I start selling some there, we start moving more around 10:17. And once we start going into 10:17, that's where I sell my remaining position and we go to 1017. 1017 is right here. It was the same exact concept. Took some off here, consolidated and then took some off on the next candle. Obviously didn't get the best entry or exits. The best entry would have been here, Best exit would have been there. My main thing as a trader is always try to play the middle of the move. And in this situation, the middle of the move for me was this, right? The whole move. If you try to go from the top to the bottom, that was the whole move, right? I caught a piece of it, I caught a middle part of it. And that's all I am looking for in terms of a trader. Now let's go through some trade stats put about 71k, risked about 22k based off my stop, adjustable by a few grand up or down. But around 20.22k made about 3.5 R on this trade. It was a morning top reversal play. And you guys can see when I got out, the contracts went to about 350. I got out around 277. So obviously you're never going to catch the top, right? So ultimately that's what I wanted to share. I just wanted to share my recap and I wanted you guys to take away a few things from this video. Number one, right? Just a few lessons and things before you go into any day. Guys have a game plan. I'm just going to put g have a game plan. Make sure you have a game plan before you go on to any single trading day. After you have a game plan. Understand how you will execute that game plan if X, Y and Z happen. For me, it was, if we are rejecting or close to that 410 level, I will look to take on a short position. I will look to basically play the downside. That was my game plan. If not, if we see strength, if we see some consolidation, I will not be risk heavy for the upside play. Because we have job reports coming out tomorrow, and because we have job reports coming out tomorrow, that will be a big move for the overall market. And market is anticipating that. So those things need to be factored. Third, when you do have any trade, good or bad, your first trade, try not to let it carry over to your next trade. It has taken me years and years and years to build that up. Most of the time in my early days of trading, if I had a big loss in the open 17k, 10k, 15k, most of the time, it would go into my next trade. I would take on a stupid trade to recoup this money. So one thing that I would tell you guys to do, if you do take an opening play and even if you make money, because sometimes I see people make money and they'll get so confident and they'll say, oh my God, I made a lot of money. I need to make sure I keep trading. And then they blow their account, they blow all their money. No, when you even make money or lose money and you have that problem, you. I tell traders, just walk away from your screens for five minutes. Just go outside, go downstairs, go upstairs, whatever the case is, wherever you are, just give yourself that five minute reset just to kind of realign yourself. Because if you're in front of your screens and you keep trying to make money after that good trade or bad trade, you have to understand your emotion balance or your confidence balance or whatever balance it is will not be in the middle. It will be all over the place. And you as a trader want to make sure that's avoided. Last thing I want to tell you guys is when you guys look at trades, make sure you look at the R multiple. This is the most important thing and that's what I talk about here. Trades. Keep talking about that. Tracking your trades, very, very important. So one thing I highly recommend is whenever you guys take trades, make sure you're focused on this. These numbers are irrelevant. These numbers obviously look great and pretty up here. I understand gets people to start watching and paying attention. But ultimately, this is what I care about and this is what I want you guys to start caring about. So if you guys are watching this video ignore this. It's kind of like just to get more people to watch. That's why I like to use that. If not in a perfect world, this is where the right way of trading would be. How much did Umar make in terms of r? He made 3.5r. So if I risked $1,000 I would have made 3.5k. If I risked $10,000 I would have made 35,000. Right. That's essentially how this works and it keeps things more organized, it keeps things more realistic. Right. It allows you to not just say oh well he made 77,000. No focus on the R multiple. And if you want to take your trading serious, start tracking your R multiple, start looking at it from a realistic point of view and start understanding where you should actually be looking to take profits and not take profits. With that being said, thank you so much for watching guys. If you guys enjoyed this, give it a like or a thumbs up and I will see you on the next video.