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+$3150 on 3 Momentum Day Trades

Hey everyone!  The last week has been a little bit tricky.  I had a couple red days as we finished up the month of June, but I still managed to lock up over $34k in verified gains (check out my blog post with broker statements here).  I finished the week with a red day on Friday, just before the long weekend.  Markets were closed Monday for the 4th of July so we jumped back at it on Tuesday morning.  Tuesday I really didn’t see much that looked good in the morning, taking one small trade for a $250 gain.  I then totally missed the $BGI run.  I saw it running up around 1.30-1.50 and just wasn’t too interested because it was doing the squeeze halt squeeze halt routine.  Then it ended up squeezing all the way up to 5.00!  Unbelievable.  I really underestimated that one.  By the time it was in the 3-4 range I felt it was too high for me to jump in.  So I sat on my hands because that’s good discipline.

 

My Realized Day Trading Profits for Wednesday

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Sympathy Runners

Something you will learn as you spend time in the market is that we have a lot of sympathy runners.  Yesterday, we had a big move on $BGI and I knew that would result in some sympathy runners.  Here’s the way it works: A stock makes a huge move and many traders miss the move.  The next stock to start spiking up gets extra volume because the fear of missing out is strong in the minds of traders.  That is a big reason why June was such an amazing month.  We kept having huge momentum, and traders kept coming into these trades with bigger and bigger positions.  At a certain point it’s like, why not try to take 10k shares when we keep seeing these run 50%?  Today when I saw $TRCH starting to squeeze up over $1.00 and then get halted I knew it wasn’t something to underestimate.  As soon as it reopened after the halt I placed 3 orders to buy 4k shares, with 12k shares as my target position.  I filled 7300 shares at 1.34 because the price hit 1.40 and was halted on a circuit breaker.  Make sure you read up on circuit breaker halts here.   As the stock made it’s first spike up into the upper 1.60’s I was still holding my full position and thinking about adding for the 2.00 squeeze.  Then volume just started to die down.  As I saw this happen, I recognized this stock probably wouldn’t be making a bigger move, and I sold my position for an $1842 profit.

 

 

My Weekly Day Trading Goals

As we move into the end of this short week I will continue to look for opportunities to be aggressive.  This week I have taken a total of 4 trades and had 4 winners.  That is the type of accuracy I like!  This is all based on trading only the best quality setups  with the lowest risk.  Every trade has risk, but we weight that risk against the potential reward.  Today I was aggressive and came out with a great day.  I’m now above my weekly goal with only 2 days of trading.  Even if I don’t trade tomorrow or Friday, I’m still good.  So with that in mind, tomorrow and friday should add icing to the cake, and not risk giving back too much of my weekly profit!  If you are interested in learning more, the strategies I’m trading are taught in our day trading courses and in our live day trading chat room.