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The nine keys to day-trading to using the DayTradeSPY Pick of the Day advisory service give its participants a high probability of success with each try. The limited time required to profit from the Pick of the Day service is enticing and the nine keys to day-trading for income are compelling, said Hugh Grossman, founder and senior partner of the DayTradeSPY Pick of the Day, Trading Room, Signal and the Ultimate Training Workshop.
DayTradeSPY's Pick of the Day is intended for traders who lack the time to watch the market or stare at charts all day. The pick typically is sent to the inbox of subscribers each trading day by 9-9:15 a.m. ET.
The Pick of the Day advisory service offers an alternative to market volatility from long-term equity investing. As geopolitical risk rises amid Russia's unrelenting invasion of Ukraine and the Middle East conflict mushrooms after the murderous Oct. 7 attack of Israeli villages by Hamas militants who invaded from neighboring Gaza, the short-term nature of option trading is gaining increased interest, Grossman told me.
The DayTradeSpy Pick of the Day bases its recommendations on the SPDR S&P 500 ETF Trust (SPY), a highly liquid and diversified exchange-traded fund (ETF) that follows the top 500 stocks in America. The fund is familiar to many investors due to its huge volume, and is resistant to market manipulation, Grossman said.
Hugh Grossman leads DayTradeSpy Signal, Trading Room, Pick of the Day and Ultimate Training Workshop.
The Pick of the Day has an almost unbeatable win rate, said Grossman, a seasoned options trader and trainer who founded that service along with DayTradeSpy Signal, the Ultimate Training Workshop and the Trading Room. After years of trading, Grossman said he learned the market usually will deliver on a directional trade based on its breakout beyond a support or resistance level on a five-minute chart. Once the SPY fund closes outside of either of those levels, there is a high probability that the goal of a 6% gain can be reached fairly fast, he added.
"In our live Trading Room, one of our early tasks is to establish those short-term support and resistance lines," Grossman said. "Then, as SPY trading opens, we watch price action, triggering a trade when the price closes outside that tight range. We immediately put it up for sale for a 6% profit target." | | | It's not just because the wind doesn't always blow and the sun doesn't always shine. It's because Republicans AND Democrats are now turning to a new, alternative energy source that can power America with efficient, 100% clean energy for decades. See the full story here. Click Here... | | | | Nine Keys to Day-trading for Income: 1. Follow the Leaders
The Pick of the Day is day-trading SPY options program designed for people who are unable or unwilling to do the research.
"My cohort, Ahren Stephens, and I do the heavy lifting every morning as we analyze markets, Grossman said. "We examine the underlying fundamentals, combined with deep dive technical analysis, to present to subscribers our pick, a particular option on SPY."
Ahren Stephens co-heads Pick of the Day and the Trading Room.
SPY fund not only tracks the top 500 U.S. stocks but offers a high probability option trade opportunity at the market's open, Grossman said.
Nine Keys to Day-trading for Income: 2. Quick Profit Potential
"The Pick is anchored in time," Grossman said. "The idea is that markets go up and they go down; our objective is to determine the highest propensity of movement on the stock that day."
Subscribers receive the Pick of the Day via email before the market opens, allowing the purchase of SPY shares soon after the opening bell, Grossman said.
"Specifically, wait a few seconds for the bid/ask spread to settle in nice and tight to with 2-3 cents, then check to see if the pressure on the stock is going in your direction using the one-minute chart," Grossman said. "If, say, the option is a call and the stock is pushing to the upside as a green candle, buy right then."
Nine Keys to Day-trading for Income: 3. Candle Power
Candles measure price action within a specific time frame. In a five-minute chart, each candle represents five minutes of time. If a candle is pushing down, wait for the turnaround to obtain a better price, Grossman advised. Plus, always use limit orders, he added.
On a green candle, the price entered at that point in time at the bottom of the body, bounced up and down to the top and bottom of the wick, or the tail, then exited the five-minute segment at the top of the body, Grossman said. For a red candle, the reverse is true, with the price entering at the top of the body, then exiting at the bottom of the body, Grossman continued.
"We can determine much information from this price action," Grossman said. "This is very common with traders and is watched profusely."
Nine Keys to Day-trading for Income: 4. Greed Is Not Good
"Immediately upon your purchase, put it [the SPY option] up for sale with a 6% gain," Grossman said. "We use 6% as a standard by which to measure success, a target that most, even novice traders should be able to achieve. More experienced traders, especially those in our morning Trading Room, tend to cash out with greater profits simply by paying attention."
Many of traders reap double-digit-percentage gains on these picks, Grossman said. Upon entering a sell order, Grossman told me he prefers to use Good till Canceled' limit orders.
The Pick of the Day usually delivers fairly quickly, often within the first few minutes. As an example, on April 22, the Pick of the Day was the $498 puts, expiring Friday, April 26. The average buy price within the first two minutes was $3.96.
"Add 6% to that for a sell price of $4.20, and the market hit our target by 9:35 a.m., a mere four minutes later," Grossman said. "Where else can you earn 6% in four minutes?"
In the unlikely event the option does not sell the same day, they are designed to be held overnight, if needed.
Nine Keys to Day-trading for Income: 5. Limit Losses
"By picking options with further-out expiration dates, we experience relatively lower theta loss," Grossman continued. "If, for some reason, the sell order fails to deliver within a couple days, the trader may wish to look at its viability, consider whether the stock will come back organically, whether a repair is in order or if it is best to simply let it loose. This does not happen very often."
But, as with all programs, a loss does happen from time to time. The advisory service incurred a few rare losers in the last month, Grossman said.
"On an annual basis, the Pick of the Day is about a 92% success rate, which is considered excellent in this industry," Grossman explained. "As with all programs, the trader must exercise good money management techniques, including only trading with funds they can afford to lose. As you know, there are never any guarantees."
The recent losses stemmed from misjudging market forces, Grossman said.
"In particular, the recent Middle East crisis with Iran striking Israel proved costly on the stock market due to a threat of rising oil prices, which leads to higher inflation and lessening the Fed's inclination to reduce interest rates anytime soon," Grossman continued.
Erroneously perhaps, the duo "miscalculated the normally positive impact" that the current earnings season may have, since it ended up overshadowed by the recent higher inflationary indicators affecting prices, Grossman told me.
"Regardless, longer-term trends have been astonishingly positive for the Pick of the Day," Grossman continued. "Let us do the extensive premarket analysis. Unless you are busting out at 95% wins on your own, the Pick of the Day may just be what you need. It's a simple 'buy it, set it for sale and forget about it' trade, returning later to claim your gains."
When following other investment gurus in his early years of trading, Grossman said many would claim success if the stock went up even a couple cents.
"In my reckoning, that would have been a dismal loss as I would never have sold it for a couple cent gain," Grossman said. "It's just not realistic." | | | Would you like a step-by-step guide to walk you through how to maximize your Options strategies? Best of all, anybody can learn how to do it.
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A trader can spend many hours analyzing, forecasting, researching and determining a particular trade every day," Grossman said. "Do you go short or long term? Swing or day trade? Options, futures, equities or any of the myriad of other instruments to trade? How do you enter? How do you exit? Would you be happy with a 5% gain or reaching for the sky? How risk tolerant are you? How much are you willing to invest, looking for a reasonable income? These are but a few of the many questions rolling through a trader's mind as they ponder."
An alternative to facing those vexing questions is to subscribe to DayTradeSPY's Pick of the Day, Grossman said.
"This highly successful program has been around for years and is ideal for those unable or unwilling to do the premarket analysis," Grossman said. "Many traders work the markets part time, still tethered to their career jobs. Admittedly, it takes real gumption to leave the security of a corporate position, complete with benefits, stature and virtually guaranteed income."
The advantages of a steady, full-time job offer a measure of security, Grossman acknowledged.
Nine Keys to Day-trading for Income: 7. 40-plus Years of Experience
"We get that," Grossman said. "And we don't recommend jumping ship until you are ready. Entering the wild world of stock trading can be daunting, so we suggest testing the waters first, with the most perfect methodology: the Pick of the Day. This system is anchored in time, based on the premise that markets go up and they go down. Every day."
"Ahren and I use our combined 40-plus years of experience to analyze the markets for you. By trading options on the S&P 500, SPY, we have the most diverse, voluminous and liquid stock that tracks the top 500 stocks in the U.S."
SPY moves in sync with the economy, Grossman continued. With options, not much of a move is needed on the underlying stock or fund to earn a respectable daily income, he added.
"Most traders buy our pick, set up a sell order and walk away, returning later to claim their prize," Grossman told me. "If you can find a few short minutes every morning at around 9:30 am ET, you can do this. Check your email prior to the market's open for the particular option trade. Enter at the opening bell, immediately put your purchase for sale and go back to work. Our high probability trades have an excellent track record for success, lessening your concerns whether you made the right decision or not."
As an example, the Pick of the Day trade on April 25th featured SPY $500 puts due to expire next Friday, May 3rd. The puts were purchased at 9:31 a.m. ET for $5.17. An immediate sell order for a 6% gain allowed the price to rise to $5.49 by 9:34 am.
"Three minutes is all it took to make 6%," Grossman said. "Many of our traders hold out for greater gains."
Nine Keys to Day-trading for Income: 8. Participate in 'Amateur Hour'
The early period of trading each morning is often called "amateur hour," as if it is something to avoid or to loathe, Grossman counseled.
"Our experience has been that huge amounts of money can be made in that 'amateur hour,' thank you," Grossman said.
On Thursday, April 25, the $500 put options rose to a high of $6.19 by 10:03 a.m. ET, almost a 20% gain, Grossman said.
"Our approach does not expect you to ring in 20% gains on a regular basis, although there are participants who do earn double-digit percentage daily gains," Grossman said. "But would you not be happy with 6%? Give the broker a point for his troubles and you still walk away with 5%. Do that once a day and you can double your money in a month."
Nine Keys to Day-trading for Income: 9. Make Money in Minutes
Whether someone uses the Pick of the Day as a full-time endeavor or a part time pursuit, picture spending a few minutes investing modestly every morning to score a winning trade, Grossman continued.
"Start small and work your way up over time," Grossman advised. "If you work smart, you don't have to work hard."
To be clear, Grossman said all trades have risk and the Pick of the Day, like every other system, may not be successful every time.
"However, we teach you how to manage those positions to minimize risk and subsequent losses," Grossman said. "Set it and forget it. If it got any easier, we would be doing the trades for you."
Economic Outlook Assessed
The Wall Street Journal recently published economist Mark Skousen's report on gross output (GO), entitled, "Slow GO May Mean a Recession Soon." It was the fourth time in the past 10 years that the Wall Street Journal editors have published Skousen's reports on GO.
In this report, Skousen, leader of the Forecasts & Strategies investment newsletter, noted that GO rose by a tepid 2.4% in real terms last year. In the fourth quarter 2023, real business spending fell 0.3%.
Government and consumer spending continue to rise, but business – a leading indicator – is trending downward, according to the data.
Ben Franklin scion Mark Skousen, who heads Forecasts & Strategies, talks to Paul Dykewicz.
President Biden Signs Foreign Aid Bill
President Joe Biden signed bipartisan legislation on Wednesday, April 24, earlier passed by both the House and the Senate to provide an additional $95 billion in aid for Ukraine, Israel and Taiwan, ending months of delays to approve the funding. The package included a measure requiring popular app called TikTok be sold by its Chinese parent company, ByteDance, or face a potential ban.
Meanwhile, the Middle East conflict keeps escalating, while Russia wages unrelenting war against civilians in Ukraine. In addition, the market has pulled back as Federal Reserve members delay plans to cut interest rates, Grossman said.
"One would think positive bank earnings would prop up markets, but then SPY hits a major Fibonacci resistance level, falls over the edge, motivating other investors to bail out like rats jumping off a sinking ship, all while a former president takes the stand on hush money paid to a stripper… all before lunch," Grossman said. "You can't make this up."
Income investors willing to try the DayTradeSpy Pick of the Day and Trading Room have recourse to the negative economic news. Those willing to trade options in SPY have a proven way to limit market risk, Grossman said. | | | Sincerely,
Paul Dykewicz, Editor
DividendInvestor.com
| | About Paul Dykewicz: Paul Dykewicz is an accomplished, award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor’s Business Daily, USA Today, Seeking Alpha, GuruFocus and other publications and websites. Paul is the editor of StockInvestor.com and DividendInvestor.com, a writer for both websites and a columnist. He further is the editorial director of Eagle Financial Publications in Washington, D.C., where he edits monthly investment newsletters, time-sensitive trading alerts, free e-letters and other investment reports. Paul also is the author of an inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain", with a foreword by former national championship-winning football coach Lou Holtz. Follow Paul on Twitter @PaulDykewicz. | | | | | |
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