SPY and QQQ hit all time highs last week but it's been almost constant selling since then. Friday had a significant gap down. I'm still bullish on both SPY and QQQ despite the dips so far. Even if the gaps fill, we are not out of the uptrend just yet. Watch the most recent daily lows as the support we want to hold. This week's economic calendar is lighter than last week but there's still some action to be aware of. Watch for Fed speakers that could potentially introduce some volatility intra day throughout the week. Tuesday and Thursday have some critical premarket data drops that you are going to want to mark the highs and lows of as you day trade. The energy sector is outperforming currently with 8 days above the 5 SMA, a new high on Friday, and has been in a daily uptrend since September. --- For those of you looking for a trade idea, here ya go: SITC Sell to open $15 puts for December 20. Shoot for a minimum price of .40/contract which will net you $40/contract in cash flow. You'll need $1500 in your account per contract to bring in the cash flow and a willingness to hold on to 100 shares the stock if you get assigned. If you want details on how to trade the strategy for this idea and why I like it, watch the video I uploaded last week for you here. Let's have a great week, everyone!

Super excited to launch the Legacy Profits Club this week. Some things in it will feel very familiar. Some things will be completely new! The goal is to help you start making consistent money in the market. So, let's talk about how to get the most out of it. Risk Management: Stop Losses: I'll be giving the exact entries and exits on each trade as well as the stop loss requirements. Position Sizing: I always base my position size on the potential downside risk. Here's what the grading system will look like: - A+ trades : Best risk to reward ratio, full position size. - A- trades: Good potential, slightly higher risk, 75% position size. - B trades: Moderate risk, half position size - C trades: Highest risk, 1/4 position size. Make sure you have watched the risk management portion of the course AND I highly recommend the risk management workshop I'll be hosting next week to fully understand risk on these setups. Trade Execution: As long as market conditions allow, I plan to release 3 trade ideas each week to the legacy profits club: - Earnings trades: Notifications on as I will only give a few minutes notice on these. - Small cap swing gaps: Set and forget trades. These will last from a day to a month. - Wheel Strategies: This will be for those with medium size accounts to generate income while waiting on long term investments. Updates to the Course Tab: This is a BIG ONE! To make it simple, I've simplified the trading course by removing some of the setups and adding some NEW setups for you to learn. Go watch them ASAP! Let's make some money next week! ✌️- Derek P.S. Let me know any questions you've got or what you're most excited about in the comments!

👋 Hey everyone! Welcome to the Trash Panda trading community! Let's talk about how you can get the most out of this community we are building. 1. Click on the classroom tab and watch the first video in our course to get you oriented to our community and how you can start growing as a trader quickly! 2. Introduce yourself in here and start leveling up right away! 3. Invite your friends to join us! Everyone's invited to the Trash Panda Party 4. After you've watched the first video AND completed the homework, click that checkmark at the top of the first video. This is how we know you are motivated, ready to grow, and you've done your homework. 5. Click on the leaderboard tab and start drooling over those sweet prizes you're gonna unlock if you are super active in our community. We put regular events on the calendar to help you in your growth as a trader. If you've got any thoughts or questions about anything don't hesitate to post them on the community discussion board. I can't wait to meet you. Let's all make some money together! 🤙 - Derek and Colby