Warrior Trading Blog

-$310 on the 2nd day of Trading in California!

california!

What’s up everyone? So finishing my second day trading here in California. This is my trading station. It’s pretty sweet. I’ve got my two laptops, my two external monitors. Those are hooked up with these little kind of brackets which are really sweet. Yesterday was an awesome day with $4,000 profit. Today is the day where I’m giving up a little of that profit. I’m down $310 which all things considered is not bad. Again, today is a day where I didn’t hit my max loss. I didn’t have three red trades in a row. I just at a certain point said, “You know what, I’m not going to keep pushing my luck.” Zen level trading achieved. It feels good. I’m going to open the slider here. This is my view. It’s not bad. It’s not bad.

So it’s one of those things. Just like the ebb and flow of the ocean. I have the ebb and flow of my trades. So the ups and the downs but right now, still just moving, moving up into the green, giving back 310 bucks is no big deal. So I’m excited for another day of trading, starting first thing tomorrow morning. But before we do that, let’s break down today’s trades in today’s midday market recap.

All right. So midday market recap. Today is a little bit of a step back. Yesterday, I made, what was it? I don’t even remember. It’s 4,800 bucks. Today I’m down $310. So one step forward and 1/16 of a step back. That’s not bad. I can live with that. I’m all right with that. Today is just really a little bit disappointing that we didn’t have any really good gappers. The two that we had on watch, I’ll move this down. I don’t know what the screen box is about. Let’s see, the two that we’re watching, PTI was number one. You can see right out of the gates, this gapper sold off. It then opened up and squeezed higher. The problem is that in this squeeze, it didn’t really give good pullbacks so I missed that whole move and then I got in on the backside. I took two trades on the backside and I lost 1,700 bucks and it happened fast.

So I took one trade long at 7.16. That was right in, let’s see, I took a trade at 7.16 right around here. 7.16 is my entry. The first one-minute candle, make a new high. Makes sense. Good entry. Taps 25 and then drops down to $7. I got in at 16. Let’s go back up here. Where is that trade. Oh maybe I had it here. In the 18 and 19, stopped out at seven bucks, bottom of the pullback. It pops right back up to 32. I get back in at 25 because I’m like, all right, I got faked out, whatever. I get back in. Looks like it’s going to go. Get back in at 25. It hits 32. I stopped out a second time from 25 down to 16, so I’m like, all right. Lose a thousand bucks on the first trade, 700 on the second, that’s frustrating. So PTI was not my friend today, didn’t trade that one well.

It did a lot of these kind of false breakouts and the volume is 17 million shares. It’s pretty crowded. So it’s not uncommon when we see this level of volume that it starts to get choppy. So that gave back all my profit plus 300 bucks that I made on SPEX. So SPEX was the one out of the gates that took I couple of trades on. This was also a gapper. We’re watching it over 2.20. My first first trade on it was along at 2.19, out at 2.23, 250 bucks, a small winner. I then got back in at 2.15 as it started to curl up on the five-minute chart right here. So my very first trade on it was right here on this one-minute pullback which got rejected. I still made money on it because I got out fast.

The second trade, I got in right here at 15, basically just jumped in with a five cent stop and I thought that because PTI was strong that this would probably open up and that’s exactly what happened. So that was a $1,000 winner from there to here. The trouble is that entry at 2.15 doesn’t make a lot of sense. There’s not really a pattern there. It was really just jumping in, anticipating that we would probably retest the high of 2.25. So I get that that’s challenging entry and it’s frustrating because this is a time where chasing it, kind of just jumping in worked. It would have worked well on PTI obviously because of this big move but I hesitated. So it’s one of those things where today just was not the easiest day.

So accuracy was not bad. Let me look at my trades. I took a bunch of trades. I took four trades on SPEX. Three were winners. I took two trades on PTI and two were losers so I guess that puts me right at 50% accuracy today, three winners out of six trades. So 50% accuracy doesn’t quite cut it when you have a couple of big losses. But obviously I’m still green versus yesterday by quite a bit so not a big deal. I think that that’s one of the important things is being able to sort of reach that level where I’m walking away today because I realized at 10:15, 10:30 that the easy money is probably over, the easy money being the first 30 minutes. It’s usually when we’re the most successful. So easy money is over.

Today, I went from being up 1,400 bucks to being down 310. I screwed it up a little bit. I was a little bit aggressive on PTI. I got stopped out. It’s disappointing so it’s going to cost me 310 bucks or whatever. But I’d rather just close the day down 300 than continue trading, to give into FOMO, try to get the money back and end up closing down 1,500 bucks. So this is my third red day of the month. I haven’t had a day where I’m down more than a thousand bucks this month and my best day of the month is, I think, actually I don’t know if it was yesterday, the $4,000 winner but it might have been. So yesterday might have been the best day of the month which in terms of risk-reward, $4,400 of profit, being the best day and $1,000 or $950 down being the worst day, that’s not bad. I mean, it’s really not bad at all.

I did go ahead and import my trades up through yesterday into trader view so let’s take a little peek at these guys. So remember, this was my high. Let’s see, I’ll go 90 days out. Okay, so this was my high here at the end of January and then I was kind of flat through February, gave back a little bit profit, had a nice day then give it back. Then yesterday with that $4,000 winner was the day that got me kind of back up into the green. I actually thought, well, we’ll see. It looks like maybe I wasn’t quite over that level. I thought I was. But in any case, pretty darn close. So kind of curling back up with that $4,400 yesterday and today another small little red day. That’s fine with me, small red days and bigger green days. That’s the goal.

When we get into a strong market where I start having back to back, 18,000, 8,000, 9,000, 13,000, I mean, that’s three days where I made like 40 grand. That’s crazy. So January was awesome. We will see those markets again. I mean, we will see those opportunities again. But the trick is not giving back too much during the chop here, all right. So anyways, that’s where we’re at here on my calendar, whatever it is. Look at the actual calendar. So February, remember, I took a whole week off because I got hurt skiing. So that was disappointing.

March, okay, that’s interesting. Did I not import the 5th through the 9th? Wait, what’s going on? I’m confused. It was the last trade. 12th and the 2nd. I missed the whole week of imports. All right. Well, I got to go back and figure that out. So that’s why that didn’t add up because I was like, “I could have sworn I was higher up than that.” All right. Well, I got to go back and do the import again. So I’ll import the rest of the trades from Light Speed but I will get those filled in and I’ll have some more profit in there. So anyways, that’s about it for me today. I’m going to go get out there and enjoy the day. Let’s see, well, I’m not even set on California time on any of my watches. So it’s 11am Eastern, I guess, what’s that? 8am. It’s coming up on 8am PST. So the day is still young. All right guys. I’m going to go out and enjoy it. I’ll see you all back here first thing tomorrow morning. All right. See you guys.

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