Warrior Trading Blog

+$3,060.91 in 1hr! Awesome start to July!

trading hot streak

+$3,060.91 in 1hr! Awesome start to July!



Alright guys, so time for our mid day market recap. This is an awesome start to the month, starting with $3060.91 of profit. So really, can’t ask for much more than that, I took two trades and I’m green on both of them. First trade of the day was on SPEX, S-P-E-X, and you can see right here I’m up $470.94 cents on it. Second trade was on PRAN, P-R-A-N, up $2589.97. So overall, just really solid trading, easy low risk, no stress.

And one of the things I talk about a lot is the fact that trading at this point for me, you know even though maybe it’s a little frustrating when we have slow days or whatever, for the most part, it’s really pretty easy because I just come in and do the same thing every day. I just look for the same opportunities, the same setups and I either have a day where I’ve got lots of them or where I don’t have a lot of them, but the work at this point is very easy. It’s just coming in and doing the same thing day after day and following the rules.

The hard part was developing the strategy. That’s what took me so long, that’s what took me almost two years, it was strategy development, it was that trial and error. And during that period of time, I wasn’t making any profits consistently. And then, I got to the point where I started to figure it out and I was starting to generate consistent profits. And that was consistently like $100 a day.

But if you were consistently making $100 a day, you’re doing something nine out of 10 traders can’t do, which is generate consistent profits. And the only difference between 100 a day and 150 or 200 or 300, 400 or even 1000 is your share size. Now as you increase confidence, almost invariably, you’re able to increase your share size and start generating more profits. But it starts, that very beginning, that tipping point where you finally figure it out and where you finally start generating consistent profits.

So I’m excited of course, this weekend we’ve had so many students joining our classes, joining The Warrior Pro Class on the website using the Fourth of July coupon codes, which is great. You guys are saving some money and getting started with your education so you can make the most of the summer. So we’re gonna host an onboarding call for all of you guys who are new students. We’ll be doing that later today. Alright so, students you should have gotten an email with a link so you can login. Those of you who may miss the call, I’ll be giving you a recording. Anyone who ends up joining us later today or tomorrow on the Fourth of July as we wrap up these sales and these specials, I’ll send you the recording as well alright? Or maybe I’ll end up hosting a second call for those of you who joined a little bit later.

So yeah, if you go on to, you login to education.warriortrading.com, you’ll see in the course contents where I give you your course book and then all that stuff, a link for the onboarding call so you can join through there if you already have, need the login credentials.

Okay, so let’s go over the trades for today. So first trade of the day today was SPEX. Let’s see. Now this one was kind of interesting because we traded it last week, it obviously made a terrific move last week, I can show you guys on Facebook. From a dollar all the way up to $4.75. And then it pulled back sharply on Friday and looked like it was just going to come back down. But this morning, there was a headline, some surprise news and it was popping back up.

So it went up to a pre market high of 3.49 and as it pulled back, I was watching to get in possibly over 3.40 right at this level, in anticipation that we would retest pre market highs. I ended up hesitating, I was looking at it. With the market opened literally at, it opened at 3.36 and immediately popped up to 3.40 and I was tempted to press the buy button at 3.40 and I thought you know what, this feels like the time where you do it and it instantly drops to 3.20 and with 5000 shares, it was a 1000 bucks just almost instantly.

I said you know what, let’s just wait, let’s give it a second. It ends up popping up to 3.76 so I felt like, I missed the first move but you know what, I’ll buy the first pullback. And that’s what I did, I bought the first one minute pullback. My first entry on this was right at 3.65 for the first one minute candle to make a new high and I sold on the move up to 85 and then I added back right in this area, right here.

We popped up to 85, double topped and then I stopped out, so we came back down. So I made 450 on this first trade. I lost about 100 on the second trade, so I was only up 350 and then I took this trade right here and I made back another 100. But look at that false breakout, it popped up and then got slammed back down, so it didn’t hold those levels. So in total, 470 bucks on SPEX which realistically for the first 10 minutes to make 500 bucks, I mean that’s a great start to the day so I was feeling pretty good on that. My first trade was 7500 shares, my second was 5000 and my third, I think it was 7500 shares again. I can’t remember, I think it was 7500 shares.

So let’s see, that’s SPEX and then PRAN. This one was kind of a surprise move because all of a sudden, it hit the higher day scanners right here in like the sixties or the seventies and it starts spiking up. So when I looked at that, I was like, “Okay, I’m buying the first one minute pullback.” One minute micro pullback, I started adding right here at 78 on this pullback and I added again at 85. It popped up to a high of 3.16.

So I started with 2500 shares and then I added 2500 so I have 5000 and then I added 7500 at 2.85 and at that point, it popped up and squeeze to 3.16. So that was 12500 shares, quick pop there up to 3.16, pulled back, it came back up, double topped. I sold through the double top all but 1000 shares. It pulls back down and on the first five minute candle to make a new high right here, I added back 1000 shares at 3.01, it popped up to 3.07, couldn’t get over that level and I stopped out coming back down. But in total, 2589 which was basically like 20 cents on 12500 shares roughly. So I was using bigger share size but I thought this had the potential for a bigger move.

I saw that there was a SEC filing this morning on the stock so that make me think, okay maybe the company will come out with a press release and if that does come out anytime this morning, that could propel this up to 3.50, $4 maybe even higher. It didn’t end up happening, I tried to hold it as long as I could but we didn’t end up seeing that bigger move. In any case, $3000 is a great start to the week, great start to the month.

It helps me build that cushion a little bit and we’ve seen some fantastic opportunities the last few days. All of last week was awesome. I finished last week up like $8300 or something like that and starting right away here this week. So yeah, the market’s closed tomorrow, it’s gonna be a short week but we’ll have hopefully some opportunities in getting right back in on Wednesday, Thursday and Friday.

So trying to ride the momentum, build up my equity as much as I can and then when things slow down again, I can taper back, reduce my share size and just kind of you know idle until things ramp up. That’s the sort of thing that we see in the market is this oscillation between a kind of frenzied market with lots of opportunities, stocks just jumping up here and there. And then this kind of market of a retreat where people sort of step back, they are a little more cautious and I’m really good during the strong frenzied market. That’s when I generate the most profits by far. My strategy doesn’t work as well during retreating markets, when it’s really slow. And so, for me what I do is I just slow it down. I just trade less.

I have been testing other strategies to add in, strategies that are better during a retreating market but the reality is when you have that kind of retreating market, you don’t have … It’s not like, oh I should just switch to the short side because that doesn’t really work any better. You don’t just have as much range when the market’s in this sort of like choppy grinding period. It’s kind of like a stock going up, the market is really strong going up and then when you’re coming back down, it’s opportunity come back down, but then you have the consolidation, that’s when it’s hard.

So trying to find and develop a strategy that’s good for that choppy market is tough because we make money when stocks are moving not when they’re just chopping around. But in any case, the good news is that the strategy that works so well during the hot markets, tides me over so I can just sort of step back during slow markets. And right now, I’m up, let’s see, after today, let’s see, 165,000 on the year. So you know, that’s fine with me, that’s pretty good even though there’s been some slow periods, it’s just being able to adapt.

The most important thing is being able to slow it down when it starts to get, you slow down on your share size when it starts to get choppy. But I’m certainly hoping that July is a hot month and then we’ve got some really good opportunities and this can be a month that I can really stack up some profits and help me get myself situated and lined up so if it does slow down again in August or September, I’ll have these July profits to carry me through. Okay, so that’s about it for today, I hope you guys all have an awesome afternoon, market closes at 1 pm, early close today and then of course close tomorrow for the Fourth of July. And then we’ll be back at it on Wednesday morning. Alright so that’s it for now, I’ll see you guys a little bit later for the onboarding call. Alright, bye.

Oh hey, I didn’t see you there. While I was just working on the dream board for my next home run trade, hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.