Warrior Trading Blog

+$968 on the 20th Consecutive Green Day!!

20th consecutive green day

+$968 on the 20th Consecutive Green Day!!

All right, everyone. So let’s go over our trades from this morning in our midday market recap. All right, so let’s see. As you guys can see, finishing the morning up 968 bucks, not bad, didn’t over trade, stayed focused. As you get further into a hot streak like this, you have to just tell yourself not to, on the one hand, not to psych yourself out. Not to feel like, “Oh, there’s so much pressure. I have to keep being green and just try to take everyday, one day at a time, one trade at a time.”

Today, I sat down and put together the watch list this morning. It’s on YouTube. But we had a watch list of four stocks. We had, let’s see, it was … Now I got to check. I don’t even remember all the stocks we’re watching.

We had DAIO on watch this morning. This was a gap and go set up, reported earnings so DAIO is on watch. We were watching it over 11 bucks, ended up hitting a high of 11.60 but I didn’t trade it. We had ITUS on the scans, watching it over 2.30, ended up actually opening lower and just selling off. No trades on that one. KTOV was on the scans. This one was on watch over 2.60, hit a high of 2.65, not trigger. Didn’t take the trade. Then CLNT.

So these are the ones on watch today and none of them ended up playing out very well other than DAIO. So basically once the bell rang, I was just sort of sitting tight, I didn’t take my first trade until 9:41. I was at a point where I was thinking it’s possible that I won’t trade at all today because I’d rather not trade than be red, I mean, that’s kind of common sense.

So I was like, “I’m just going to stay focused. If I don’t see anything that looks good then I’m going to sweat it. I’m not going to trade. I’ll just come back on Monday and keep the hot streak going.” But ended seeing TYHT. So where did that one come from? Well, TYHT is sort of interesting because someone mentioned it in the chatroom and said it’s popping up. But that was when it first squeezed up from 2.86 to 3.36.

I’ll show you guys the one minute chart on this. So I don’t even know where they, where that person saw this set up. But it popped up right here, they called it out right on this green candles that hit 3.36. It dropped down, all the way down to 2.91 so it dropped like 40 cents and as it started to curl back up here, I was watching it. I had a order ready to go for for a break of high a day which was … I was actually watching it for long over 3.30.

Had my order ready to go, was sitting and watching. The thing is, I at that point didn’t feel it had enough volume. We only had, let’s see, I don’t know, maybe … I’m just looking at the volume here, 730, it says 37, 57, 105, 120, 160, like 200,000 shares of volume, which I mean isn’t horrible but it felt light and the spreads were big. So it was like 3.30 by 3.20 and it had just dropped to 2.91. So I thought, “Geez, if I get in this at 3.30 and it drops down to two bucks, or 2.91 or three bucks, I’m going to be pretty frustrated.” So I just kind of watched it and I was like, “Let’s see if it pops up.” It pops up on this candle to 3.67 on the ask and 3.32 on the bid which is a 35-cent spread, 35-cent spread.

I was like, “Okay, I need to get this a second to pull back or just to give me a better opportunity.” Then in this next candle, it pulls back a little bit. The spread tightens up and so I took a scalp long right here and I got filled at 3.71. So that was my entry at 3.71, 2,000 shares. I didn’t take 10,000. I didn’t get super aggressive. I was conservative. 2,000 shares at 3.71 added, 2,000 at 99, only got a partial fill. Tried to sell at 4.18, no fill. Sold half on the bid at 02 to lock up some profit, some more at 06, some more at 15, some more at 05. I tried to add back at four bucks. I tried to do that, let’s see, I think it was on this candle here as it was popping back up. I tried to add right there. It only hit 4.08 and then pulled back again so it actually probably for the best I didn’t get filled.

So then I sold the rest back at 3.82. So a total of 720 bucks of profit on that trade. I could have been more aggressive. I could have jumped in it at 3.30. I could have loaded up 5,000 shares at 3.30 and made four, 5,000 bucks on it. But it’s Friday and this was my first trade out of the gates. I didn’t have a cushion on the day. I wasn’t totally sure it was going to be easy. That’s why I started with 2,000 shares. Because I knew that if I lost money with 2,000 shares and I lost 300 bucks, there’s a good chance I can make it that back on the second trade or third trade. But if I lose $1,500, I’m going to be at my max loss and I’m just going to be out and it’s going to be impossible most likely to get back to green on the day. So that’s why I was like, “No, I’m going to be more conservative. I’m just going to start with small size and then go from there.” It works perfectly. So 720 bucks. Good trade.

Second trade of the day, EFII. This one was on our reversal scanners. So I’ll move this over here. It was on our reversal scanner so it was selling off. Let me just scroll back here so you guys can see this. I’ll flip this around for those of you on Facebook. It was on our reversal scanner, EFII, right here. So the set up on this was looking for the first one-minute candle to make a new high. All right, so let’s pull up this chart.

All right, so we had this long stretch of red candles. I wanted to get in for the first candle to make a new high. That was over 29.22. I anticipated the entry by getting in at 29. So I got in this at 28.99 and 29 with 1,000 shares, small size, nothing crazy. Tried to sell half when I was up 50 cents. I didn’t get filled. Ended up selling it for only 24 cents profit but ended up 248 bucks. That puts me up 968, so that’s not bad. So you can see here on this pop, we popped from a low of 28.69 up to a high of about 28.50. We went sideways. We couldn’t get up over that level and then ended up selling off.

Then for me, that was it today. We did have an opportunity on CVO but I had looked away. I’d gotten up and just taken a little walk and then when I came back, I saw it popped up. So ended up missing that opportunity. But the places I would have been a buyer would have been on the one-minute pull back right there at 1.73 and possibly right here at 1.90. Those are the places I would have been a buyer. So just squeezed from $1.50 up to 2.04, a nice move for sure but it just didn’t really hold those levels.

So I know there’s some opportunities on that and several of you guys in chat a great, a couple of great trades on Expedia, shorting it right out of the gates at $123 a share. Let’s just back this up. Right out of the gates, it pops up. It retests the resistance line and I saw you guys get short at 123 and it dropped all the way down to 118, not bad, that’s a five point drop, it’s a $123 stock but a five point drop is fantastic. So really, good work on that. I know some of you guys hit your weekly goal just on that one trade. So you’re in good shape going into the weekend and you guys should feel really good about that.

So I’m writing on my calendar here, day 20, plus $968.49. Not bad. So that means this week I’m up must be close to 10,000, I’m up 34,000 on the month. Now remember, my best of 2016 was June and I made 34,000. So there’s something that feels really good about this being, this month of October being as good as my best month in 2016. Even though this isn’t my best of the year for 2017, my best month is 70,000. 34,000 is still good. After coming off a little bit of a red streak through the end of September, it just definitely feels great to bounce back and be back in the driver seat.

So on the year, I’m up $204,000. I’m up 170,000 in my small account that started with $583. So $583 on January 1st, that account is now at $170,000 in total profit. I think I have a chance at hitting $200,000. Really, if I can do 15,000 in November and 15,000 in December, I’ll hit $200,000. I will have taken 583 bucks and turned it into 200 grand in one year. So that means potentially I’ll be able to … I’m thinking about when I’m going to cross that million dollar mark with the small account. I mean, it might be three years, maybe two years away. It’s going to take some time. All of next year, I’m going to be working on the small account.

So next year, if I can do another 250,000 plus or minus, I’ll be halfway there. If I’m able to scale up a little bit, if we have a really strong market, if I have more $70,000 months, maybe it will come sooner. But yeah, this is a long haul. When we talk about being able to make a million dollars from the market, were not talking about doing it overnight. That’s I think one of the big differences with warrior trading. We’re talking about teaching you guys a skill for slow and steady gains, 200 a day, 400 a day, 500 a day, 1,000 a day. If you’re making $1,000 a day, you’re doing really, really well.

Granted that’s only a quarter million a year, so the people that are selling you that get rich quick, make a million dollars over night, it’s certainly a far cry from that but $250,000 a year is really in my opinion good money. I want to focus on teaching you guys that skill rather than focus on maybe the 1% of you that might end up making a million dollars this year. I wouldn’t be surprised if there’s one person or maybe two in this chatroom that makes a million dollars in 2017 but it’s not going to be the majority of you. So let’s focus on the task or the goal that is more easily achievable.

So yeah, that puts my crossing the million dollar mark, let’s 2018, 2019, by 2020 and again, if you said … Look, it’s going to take you three years but you can take $583 and turn it into $1 million, I think anyone would do that. It goes to show, it’s not about how much money you have in the bank, you don’t need a lot of money to be a day trader. You need the strategy. That’s all it is. The strategy, the knowledge, the skills, the strategy. Once you’ve got the rules, you just sit down and follow the rules day after day.

So that’s the game plan and this month of October has been really fantastic. It’s actually my best month of the year since February. Usually, November, December are good months for me. So starting a little early, October, November, December, January is usually strong, February is usually strong. So this is kind of the stronger part of the year for me. Typically September isn’t bad either. Any case, I’m totally happy that we’re getting back into a little bit of a hot streak here and seeing some good follow through.

So we’ve got two days left for the month of October. I am two days away from achieving my goal of not having a single red day for the month. The pressure’s on. But I’m just going to scale back. I’m not going to try to do anything crazy. Just try to get a couple more decent trades Monday and Tuesday. If they’re days like today and I’m only making 500 or 600 bucks, I’m fine with that. I just really don’t want to have a big red day. So if I have a day where I’m down 100 bucks, that’s okay too. But I’m up a total profit this year, 204,000 as of right now. My small account has 170,000. So I had two accounts at the very beginning of the year.

Anyway, so that’s where we’re at here for the 196th day of the year. I hope you guys all really enjoy your weekend. I know a lot of you guys have had a really good month too. So just enjoy the weekend, celebrate it and I will see you all back here first thing Monday morning. All right. I’ll see you guys on Monday. Bye. Let’s be honest, if you made it this far, you must have really enjoyed that video. So what’s stopping you? Subscribe right here and get email alerts anytime I upload new content. Until then, happy surfing.