Swing Trading S&P500

hwsteele

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Just paper trading to start with but if I can get it mostly right will start using money.
My goal is to swing trade the spx using cash options. Starting with $5,000.00 in paper account today will make my first trade.
 
Closed at $39.50 $930.00 profit after roundtrip.
Balance $5,930.00
 
I believe the market will swing up again tomorrow. I think it will go to at least 1275 as such im going long now.
 
Bought .SZPJJ at $34.20 have stop set at market 1220. System says market should turn tomorrow and start to 1275 at least more likely to 1310.
 
Well this system is not working so I'm going to look for or make a new system. Once I do that I will start paper trading again.
 
Ok all is good. I have fixed the problem with the system and adjusted the "free" time I have so I will be able to trade at the market close. The logic of the system is now much closer to what I was looking for and I think I will do much better this time. Going to start trading again on September 29 as I will be on vacation for most of next week.
 
ok i sold the 1150 october put at 46.00 even and went long with october 1175 call for 31.25
 
I expect the market to trade up tomorrow to the 1180 level at least. Might go as high as 1200.
Stop set at 1138
 
Got my self out of the trade at 1145 and went short looking for 1135.
Market kept going lower so I got out at 1125 so far looks to be the low.
Hoping the market will trade up the rest of today and tomorrow.
Will be long above 1138.
 
The market was down all day and closes about 1115. Will watch the market and listen for news on the bail out. Will go long if it passes and short if it does not.
 
The market opened higher so I went long about 1139.
Got out of my long trade at the 1152 main pivot and waited to see what would happen. Went short at 1146 looking for the 1137 main pivot but the market traded down to the 1122 main pivot. got out at 1124 cause I didn't have the guts to wait for 1122. Went long again at the 1126 looking 1137 again. the market went up to about 1134 before it started back down again so I put a stop in at 1119. Still looking for the 1137 area.
 
Well watched the market go all the way to 1100 and didn't do anything about it. I believe the market will be higher on monday but we will see.
 
Good luck. This is the correct way to paper trade with the clear goal first. Good Luck. I also trade S&P and am going to be long at open, but generally I think we are still in bear market.
 
Hi hwsteele - Seems like you're making your calls on the momentum of the market during trading. This is not without gutsiness but surely must be tough on the nerves and screen-time, and isn't really swing trading.

You might get a copy of Street Smarts by Raschke and Connors. Its very applicable to the S&P and contains a whole range of set-ups you can identify outside market hours or at the very close, and then place your orders or trades. They always try hard to suggest sensible stops too.
 
Street Smarts by Raschke and Connors is great but very expenssive for "normal" folk. I gave mine to someone and never got it back.
 
Thank you alexa for the words of encouragement and tomorton for the advice about the book.
You are right about the fact that what I have been doing of late is not swing trading. BUT because the market is so very volatile right now you can make the number of points that you would normally make in a two, three, or four day swing in a single day. So it just seems wrong not to trade the intraday swings at this point.:innocent:
Thanks again to both of you for your input it's always welcome from anyone who gives it in a respectful and honest manor!
 
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