Warrior Trading Blog

+$2,493 Opening Range Breakout on $SKLN

Get Focused!  +$2,493 Day Trading $SKLN

It’s only Tuesday but I’m already up over $8,000.00 this week in 4 hours of day trading.  I traded 2hrs yesterday and 2hrs today.  In total I’ve taken 9 trades and had 100% accuracy.  It’s a good thing I’m making some good money here on Monday and Tuesday because due to Thanksgiving, the market is closed Thursday and will be only a half day on Friday.  That means this week I really have to make the most of the good opportunities!!

Through the month of November I’ve been maintaining the same rules I put in place in June.  Only trade A quality setups, and take 2x regular size on those trades.  That means my share size has been higher, and on winning trades, I’ve made a lot of money.  Unfortunately, on the losers, I’ve also given back a lot of profit.  Both October and November have been the slowest months for me since the spring.  I’m not sure why, maybe the elections were a factor, or maybe there has just been less good news releases.

Regardless of the reason, I’ve found myself taking a lot of trades based on the Beginners Momentum Day Trading Strategy and finding great moves, but not enough follow through.  That has meant on several trades I’ve been up $2k, but didn’t take profit, and ended up stopping out nearly breakeven.  If you do that 4-5 times in a row, you’ve quickly given up $10k in profits.  As we come closer to the end of the month I am being more aggressive to take profits when I have it since I have been able to build a substantial profit cushion in the last 3 weeks.