Warrior Trading Blog

1st Inner Circle Day and It’s Green! +$398.61 | Ross’ Trade Recap

Orlando

What’s up everyone? All right, so, today’s the first day trading from Orlando. It’s warm. It’s beautiful. Up $398. Green is good. That’s what this week is going to be about. I’m not going to try to make home run type of trades.

 

I’m not going to swing for the fences because I don’t want to strike out. So I’m just going to go nice and easy. Little bit here, little bit there. Green day is a good day.

Inner circle seminar. This week here in Orlando, it’s going to be a lot of fun. We’ll have lots of updates, lots of YouTube Live, Facebook Live, from the events so you guys stayed tunes for that. I’ll do a breakdown today of the trades and if you have any questions, leave them below, and I’ll come back through and answers them later this afternoon. All right. I’ll see you guys later.

All right everyone. So, we’re going to do our midday market recap and go over the trades from this morning. Today is my first day trading from Orlando, Florida and I’m sitting on the floor. I’ve got my trading station laid out here. I’ve got my main laptop, two USB monitors, one on either side, and that’s really all you need.

$398 of profit today. Green is good. It’s not a home run day, but we’re not in a home run market. We’re in a $500 a day type of market so any day I can be in line with that is a good day. This will be my fourth green day for the month of September. Moving in the right direction. Trying to build that cushion a little bit and even though this isn’t a huge green day, it does help add a little bit more of a profit cushion. So I’m happy with that.

Let’s look at the trades from today. We’re going to do a quick recap because I got to run over and start to get ready for our webinar that we’re hosting at 1:00 PM. That’s going to be over in the conference room. All of you guys, anyone who wants to register, there’s a link in the description on Facebook. Those of you guys on YouTube, by the time this is uploaded, the webinar will probably either be happening or will have already finished so you guys are going to miss this one but stay tuned for the next one. Those of you guys in chat, you can see in the announcements tab, the link to register.

The two stocks I trade today, CVM, and F-T-E-K, FTEK. This was a day where the only gapper that really looked good was Fred. F-R-E-D. It’s like a pharmacy. Had a pretty market high of 277 and right in this area, it was looking really interesting for a gap and go trade. Now what would the proper entry be on this type of stock? It would be typically 277.

A break of the premarket highs. So I was watching 277 … yeah, Vince, I’ll see you later today hopefully as well. And then, right before the bell, it dropped down here to 244. That’s kind of a bummer. That’s a big drop and so that sort of ruined the pattern for me, and I didn’t take any trades on it. So no trades on Fred.

FTEK was also on the gap scanner, gapping up like 10, 15%. The bell rings, and it dips down a little but then it reclaims the 20 moving average right here. As it got above it right in there, I’m watching it for a possible scalp. So I’m looking at that, and I’m thinking, all right. Hey, Sebastian. I’m thinking this has potential for a move potentially up to premarket highs, which is $1.58. So on this one, I jumped in at $1.39. So my very first trade on it was right here. 6,000 shares at 39 and 40. So that’s my entry.

It pops up to a high of 45 right here, and what do we have at 45? We’ve got a seller, now a 15,000 or 12,000 share seller. And on that one I was thinking, you know what? First trade of the day, at 9:41. Usually my first trade is within the first two minutes of the bell ringing, so I’m already like, “This isn’t looking good.” I better take my profit, start to scale out.”

So I go ahead and sell half at 43. It’s only three cents of profit, but hey, that’s 90 bucks. And even more importantly, what it does is it reduces my risk. Now, I’ve taken out 3,000 shares. I’ve taken out $90 and if this stock does flush down, I’m no longer at risk of losing 600 bucks or 800 bucks because I’ve sold half. Now my risk has come down.

So I watch it, I try to sell some at 44 on the ask, get partial fills at 44, 43, a little bit more at 44 and then I hit the bid at 37. So when I saw that seller, I try to sneak underneath it and sell a little bit but it didn’t get full fills on my orders. So it was just kind of hard to unwind and then I just hit the bid on the rest.

So it popped up for a second, it dropped back down, it’s kind of sitting right now back at 19. It’s not a very strong stock so kind of disappointing today that it didn’t have more holding power.

So that was FTEK. And then CVM, this one was kind of on the watch list as a continuation stock just because it had been in play last week. I sort of had this one as maybe worth watching. You can see how it breaks over 78 right there. On this one, I said, okay guys, the spot to watch, the right entry on this is at 73. A break of this level. That’s the proper entry. I didn’t get into the proper entry because I’m only up, this point, up $150 and I’m thinking, I’m not sure I’m feeling it. I’m afraid I’m going to jump in and it’s going to right away drop down, so I’m going to give it a second to really prove it’s strength. I end up jumping in, boing, VSTM. I’m having to do the boings for you guys because they’re coming through my headset. But the volume on this is pretty light, only 72,000 shares.

I jump in this and I accidentally took 9,000 shares. I met to take 6,000 but I pressed the buy button 3 times. So I’m in 89, 89, and 90. I was thinking about adding over 95 and then I looked down and realized I had 9,000 shares so I was like, whoa, okay. I’m in heavier than I thought I was. So when I saw on this, a 5,000 share bid at 94, when I saw that bid, I punched it. I hit the bid.

So on this one, I didn’t even try to sell the ask, it pops up, I see a bid at 94, so 5,000 share buyer and I sell 4,500 shares right to that buyer. Boom. I’m out. And again, I’ve only booked a little bit of profit. 4,500 times 4 cents, whatever, 180 bucks but what’s even more important is now, if it does wash out, I’m not going to have to bail out with 9,000 shares. I’ve reduced my risk to only 4,500.

I then hit the bid again at 93 and then I hit it again at 88. Basically, it came up and right at $4 there was a seller of I think 10,000 shares or 17,000 so it was kind of at this spot, a little bit of resistance there. It couldn’t break that level and it started to fade and come back down. So I got in a little high trying to scalp a whole dollar break out, that means an entry at 90, target is the whole dollar.

FTEK was a similar type of setup. Entry at 40, target the half dollar. I often do that but on both of them, they only produced 5 7 cent winners so not a lot of really strong momentum in the market today. But green is good. Being here in Orlando, my goal is really to try to be green, be consistent, that’s kind of what I’m aiming for right now.

All right. So that’s it for me. I got to run and get things organized for our panel webinar that’s going to be at 1:00 PM eastern today so I’m going to do that and I’ll see all of you guys back here first thing tomorrow morning. All right, I’ll see you guys in the morning.

If you’re still watching, you must’ve really enjoyed that video. So why not subscribe and get email alerts any time I upload new content? Remember, when you subscribe, you become a member of the Warrior Trading family.