Warrior Trading Blog

+$7K Win For The Day | Ross’ Trade Recap


What’s up I everyone. All right. Here we are, Thursday morning, second day of May, $7,490. Another solid day. I really can’t complain. I mean, I’m up $20,000 in the last two days. Now I’ve got a really nice cushion on the month of May. I’m halfway to my profit target of 40 grand. I mean, this is… the wind is at my back now. Things are going to be a little bit smooth sailing from here. I don’t have to feel as aggressive. I don’t have to push this hard. Of course we have good opportunities. I know I’ve got a cushion so I can go ahead and take a little more risk. It just always feels better to start the month strong. Now that doesn’t always happen. I’ve had a lot of months where I started in the red digging myself a hole and it gave myself… gave me a project for the rest of the month to try and dig my way out.

I’ve been on both sides, but I’m always grateful when I start the month with some really hot momentum. That’s what we got today on ABIO. Today, we finally got a lot of sympathy momentum. There’re about five different stocks that ended up being really strong and so I just kind of kept getting low profit off of each one of them. Enjoy the recap today as always and leave questions, leave comments below if you have any, and I will see you guys first thing. Tomorrow morning, I’m going to be trading on my Traveling Trading Station, location to be determined. All right, so I’ll see you guys tomorrow morning.

All right everyone. So we’re going to do a midday market recap here, go over the trades from this morning. Today is the second big green day in a row, up $7,494.79, which is awesome. Seeing some good momentum here. As I’m doing this recap, I see ABIO coming up and looking like maybe it’s going to break through the [V-U up 00:01:47] Circuit breaker halt level is at 16.71. This is one that I made 2,600 on this morning with a quick scalp right out of the gates. This was our leading gapper, and of course I made about 14,000 on this one yesterday. This morning it was gapping up 80% with about a million shares of volume. It’s a super low float stock, history of making these big moves. This morning the level that I was watching was right around 19, right in this area. As soon as the bell rang, this thing ended up squeezing up and breaking the high of 18.75. The bell rang and it opened at 18.40.

It dipped down for a second, and then as it surged back up, boom, that’s where I jumped in. I jumped in anticipating the break over 18.50, which was right here. So in at 18.33, 40 and 47, only buying a thousand shares on each one. I wasn’t going super aggressive. I was being conservative. Immediately sold half at 29, 19.29 as it broke through 19, but it ended up squeezing all the way up to $20.45. My best exit was at 20.39, which was pretty good, and then 30 seconds later I was selling the rest down $2 a share back at 18.33. It didn’t end up holding that level very well. I was watching it to get back in. It sold off and held at the view [APP 00:03:33] right here. It started to pop up and I was watching it really closely right in this area. Then it dropped, broke the V-U up and since then has just been fading and going lower, and really, until just these last few minutes where it started to open up a bit.

Yesterday, it’s kind of interesting because it did end up breaking the view [app 00:03:59]. It’s sold off, was looking pretty weak. It had retraced more than 50% of the move and then it ended up breaking that V-U up and squeezing all the way up to $13. So this morning, this does look weak, no doubt about it, but if it breaks over 18, next thing you know, we’re going to… I think we’re going to see the high day. It would be one probably keep an eye on, but I’m not totally sure it’s going to work. I can’t tell if the Facebook feed is coming through okay, if you guys are able to see it in here. I don’t see any comments on Facebook. Just kind of unusual. We had an issue with Facebook yesterday as well. Let’s see, I want to this. Copy. It’s fine. Okay, cool.

All right. That was ABIO. I got $2,600 of profit, which is fine. At this point, could see if it holds the V-U up and then maybe it gives another move. I mean, this could end up being one that really opens up. I just don’t know. For me, the ability to get in and take profit that quickly, it’s all about reading the level two. At that point, I’m not even really looking at the chart. I’m looking at the tape, the level two. When I see that big breakout, I see it squeeze, I see a price target, I’m going to start to take some profit, putting half on the ask or on the bid or whatever the case may be. Some good trades there on ABIO. The next ones, our gap scanner this morning, ABIO and NSPR. These were the two leading gappers. NSPR opened in a similar way. It was sort of weak and then surge back up.

I took my first trade on it right here, buying this one minute micro pullback. Right there, a squeeze up to a high of $7. That was a quick 25 cent profit. It then pulled back, it then squeezed up over seven and hit a high of 7.51. In this move right here, I was able to make $2,298 and just like that, I was up 4,800 on the day, which is a great day, really solid by 9.45. Then we had EARS. This one popped up and got halted. I jumped in as it was squeezing up, getting filled at 5.25. It ends up going to a high of 6.50, which was a huge move, and then coming back down. I sold some of it here and the rest of it here. In total made $1,900 on it with 5,000 shares, which wasn’t too bad. Not a huge position, but a small scalp. Then at the same time that that was halted, DFFN was halted. What we ended up seeing was several stocks getting halted too sort of all at the same time.

That was definitely because of the just crazy amount of volatility that we’ve seen on ABIO. FOMO was kicking in, traders were getting more and more aggressive. Today my job was to capitalize on the emotion in the market without falling victim to it. My first trade on DFFN was coming out of the halt right here. It popped up to a high of 4.25, but I wasn’t able to lock up the profit, ended up losing about a thousand dollars. I got back in as it squeezed up right here and made back about $200… no, I made back about $700, so I was only down 300. Then my final trade was right up here trying to scout the break over 5.00. It hit a high of 4.90 and then dropped back down. This is the one I’m going to be right on, $587. TATE was the last one. This one I jumped into for the breakout over 7.00 and ended up hitting a high of $7.35, which gave me about $1,200 of profits.

So, decent trading today. Some really good opportunities. I’m happy to have a nice solid green day. It’s going to put me up over $20,000 on the month of May already. I’m halfway to my monthly goal, and it’s May 2nd. That’s the reality of trading. You get a couple of really good days and you’re going to hit your monthly goal immediately. Then on the flip side, you may have a couple of days where… and we had this last week coming into Monday and Tuesday… Oh no. Today it’s? I’m now losing track of the days. But in any case, I guess Monday was green, Tuesday was red, but… and then Wednesday was good. In any case, you’ll notice that there will be some days where we have really not a lot of momentum. The best thing for you to do is just to sit tight and hold your hands and not trade. Even though it’s like, “Well, for me to hit my monthly goals, I need to be trading every day.”

You need to be making X amount each day, I get that, but at the same time, if the market doesn’t give you anything you can really sink your teeth into, you’re just going to end up losing money. Then on the days like today where you do have great follow through and you have some nice profits, these are just getting you out of the hole. They’re not putting you into the green. Right now I’m at all time highs in my account here at one 1 million… over $1 million. I’ve got about $8,000 of profit above the million dollar level or maybe 8,500. My goal ultimately is to never have this account drop back below $1 million of profit. That means I just got to keep moving forward, and I got to try to get as much of a hot streak in as I can before things cooled down, before I have some red trades. So when I have that first pullback, it doesn’t get me down below the million dollar mark.

Right now, I’ve only got about an $8,500 cushion. But that’s certainly better than I had two hours ago when we started the day. I’m fine with that. Progress is being made. Tomorrow, try to finish up the week with one or two more green trades, go into next week feeling good with this profit cushion. The advantage of having such hot momentum at the beginning of the month is if you were able to capitalize on it. We saw yesterday about 80% of our students who traded ABIO made money on it, which is awesome. If you’re among the 80% who made money on it and you’ve been able to build a cushion here at the very beginning of the month, now the wind is at your back. You just kind of are able to coast a little bit knowing that you’ve got a good head start, you’re in the driver’s seat and now the pressure’s off.

As a result of the pressure being off, inevitably you’re going to make better decisions about when to be aggressive and when to take trades because you’re not making those trades out of desperation. You’re doing them just because genuinely you feel like they look good. That’s always a nice thing about getting the cushion at the beginning of the month. It doesn’t always happen. I’ve certainly had months where on the first day I’ve hit my max loss. That’s happened to me many times. It doesn’t mean you can’t get out, but it’s always nicer to start the month with a little bit of a hot streak. I’ve been able to do it here these first two days and it sounds like a lot of you guys were as well. Yes, that’s a good question, Caesar. He asked, “My million dollar challenge, does it include commissions? Let’s take a look at the million dollar challenge. I’m going to go here to May 1st and filter. Then we’ll go to the reports view.

I’ll move this out of the way here, so you guys can see what’s hitting the scanner. My net profit is $1 million, over 1 million right here. My gross profit… the gross is before commissions. My gross profit is 1.14 million. I’ve actually been above a million for quite a while in gross profit, but net profit has been below. Look at this, coming back up to 18. You know that it’s tempting. The thing for me is that I was acknowledging that I probably was not going to be able to hit a home run on ABIO because the stock was over $10. Therefore the risk is going to be a lot higher. ABIO now halted at 17.93. Be looking for a move up towards 20.50. Although if we actually got that far, that would be a big U shape, a big double top, and we would probably need a period of pullback.

But we did get a little pullback here, so let’s see what it does. In any case, so yeah, I made 1.14 million before commissions. Commissions were $47,000 and my ECN fees for direct access routing were $95,000 over the course of two and a half years. So about 130 grand in fees and commissions which is just a little more than 10% of my gross profit going back to commissions. That’s pretty much been steady for the last several years. I have 2016 also in Tradervue. So we’ll go up to 1.4 gross commissions here, about 165,000. Yeah, the broker is doing well with me, that’s for sure. I’m an aggressive trader and I often trade with big size. That’s my choice to trade that way and the commissions are going to be that way. But yeah, in terms of business overhead, think of the commissions as just the cost of doing business. It’s only 10%. The rest is profit, which is great. So yeah, this is average… about 70% accuracy before commissions, 67% after 68% after. Average winners, average losers about the same. Pretty damn close.

Average winners about seven minutes long. Average losers about 12 minutes long. Some pretty interesting metrics there. Biggest winner, 31 grand, biggest loser, 19 grand. ABIO, the halt time was 10:46:54. So resumption should be 10:51:54 if it’s a five minute long halt, which is what I would expect. Nice. Looking good. Seeing you guys making money is always nice. Just looking at an inner circle students sharing his P&L. Trade smart. Know when to walk away. Every day you have a choice. You’re either leaving money on the table or you’re giving back profits. Well, my last trade was on DFFN, so I guess I’m leaving… I guess I’m actually giving back a little bit of profit on DFFN. I might be leaving a little profit on the table on ABIO by not continuing to trade it. But I’d rather just continue to build the cushion trading during the first hour when I do my best. Once I’ve got a little bit of a bigger question, maybe I’ll be okay taking a little bit more risk.

All right. That’s it for me. I hope you guys all have a great afternoon and we’ll be back at it first thing tomorrow morning. All right. See you guys in the morning.

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