I was on YouTube catching World Cup highlights, and when the video was over, I was targeted with a trader’s video titled:

“This boring trading strategy made me $526,454”.

That’s when I felt it. And ooooweeee y’all, I’ve got quite a bit of experience under my belt so I know if I felt it, you likely did too.

This click-baity title had my wheels going. The title said boring, my brain read easy. The title stated making over 500K, my brain started with the whispers: what are you doing wrong? You are not doing enough. What do you need to do differently?

And the answer is nothing.

I know this, but newer traders don’t. They think their strategy isn’t producing, so they hop to the next thing. And that doesn’t produce either. And this pattern likely shows up in other areas too like in relationships and jobs, jumping from one thing to the next, searching for external things to fix the internal.

Are some strategies better than others? Sure. Are some better suited for your personality? Definitely! But most strategies are very similar to each other and if you are not seeing results, the reason is likely one or both of these things:

Both things come down to doing the work. One of my favorite quotes of all time:

The magic you are looking for is in the work you are avoiding.

This trader sharing $500K+ results has 3-4 years on me. I am on path to produce that. Maybe not this year, maybe not next year, but it is not a matter of if, but when. And I am confident in that because I see the progress in the numbers.

I remember the year I stopped losing and made my first $8K. I felt like I had just gotten out of the spin cycle. 🤪 I felt relieved, excited, and grateful to see the work starting to bear fruit. Then came the subsequent years of producing $40K-$60K, and then the first time I made over $100K in such a short period of time!

So when this trader says boring, I know exactly what they mean. The work is mundane. It is reps on reps on reps, the same strategy, the same process, the same review, the same refinement, until it becomes part of you.

There is nothing external to keep searching for. You have everything you need, and it’s on you to simplify, focus, set constraints, and shut out the noise long enough to let the work work.

Now onto SPX 🥳

I’m starting with the weekly chart to highlight something I start to pay attention to when price keeps coming back to the same area and has trouble breaking above it.

Last year, SPX was trending higher for a while, but around October, the action started getting a lot choppier. Then in December going into January, there was this area near 7,000 that price kept testing, and it could not break above it.

When price keeps retesting the same level and cannot break above it, the probability of needing to break down first starts to get higher. So two things come to mind:

I do think we can still push higher from here, and 7,800 is doable if buyers clear this area with momentum. I’m just pointing out the details I’m noticing: the back-to-back selling, the repeated tests near the highs, and the way price has been acting around the 7,500 to 7,550 area. As you saw, we stayed in a range for several months last year.

On the weekly chart, SPX came down to the 10 EMA, tested it, and started to come back up. So this could still be a normal retest, a little bit of indecision, and then continuation higher.

On the daily chart, we have had a few tests near the highs, around May 14, June 2, and June 13. The main area I’m watching is roughly 7,500 (psychological level) to 7,550. Here are some potential scenarios:

Break Above 7,550 and Continue Higher

Chop Between 7,230 and 7,550

Breakdown First Toward Lower Levels

For the way I trade long options, the best environment is when there is clear direction, whether that is up or down. When the market is range-bound, I usually adjust by going down in timeframe, being more selective with entries, reducing exposure, and taking profits or losses faster since price tends to move back and forth between levels.

And just a side note: Range-bound describes movement between two levels. Choppy describes the quality of the move. That is when price pushes up for a couple days, then gaps down and erases the move, or moves back and forth without smooth follow-through. It’s a downgrade of quality, and that volatility can be really tricky. So during a choppy market, stay for a good time, but not a long time. 💃🏽 😆

Earlier this year I launched the Trader Reset Community. We meet live each Monday morning to kick off the trading week, look at names we may trade, and talk through the overall condition of the market and individual stocks.

I also host several live sessions where you can get support with your trades, trading plan, and just about anything else. I’m always there to answer questions and help move you one step closer to the trader you want to be.

If you are curious but not sure if it’s the right fit, I have a free 2 week trial so you can pop in and leave anytime.

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I encourage anyone who is stuck, stagnant, or not on track to reach their goals to work with someone. When I first started trading, I lost tens of thousands in market tuition, (aka massive trading losses from inexperience and my desperation to be rich 😆). Then I got serious, and invested just as much, if not more, in coaching and mentorship over the years.

I still continue to work with mentors in different capacities, because time with people who have already been where I am trying to go has always resulted in a positive ROI. Sometimes it just takes one little thing to change your trajectory.

It’s June, we are halfway through the year, so check in with yourself:

Are you where you want to be?

Are you committed to the work for yourself?

Whether that support is with me or someone else, it really makes a difference. See you around here or in the community, either way, I am here to help!