Warrior Trading Blog

We are 83% of the way to the Nov 100k Goal!

100k goal

We are 83% of the way to the Nov 100k Goal!

 

What’s up, everybody? All right. We’re going to go over our midday market recap. Today is the 29th consecutive green day for me, finishing the morning up $3,850.14. Not only is that by itself very exciting. Today is also the day that marks 81% of the way to the November 100K challenge. The goal is to make $100,000 this month between 10 traders. As of today, we are sitting at $81,112.31, which is really fantastic. Really it’s been an amazing week. We’ve just been crushing it.

Today is the … Let’s see. It’s the one, two, three, four, five, six, seven, eight, nine, tenth day of … No. Sorry. Sorry. Sorry. Sorry. It’s the eighth day of the November 100K challenge, so day eight and we are 81% of the way there. We’re going to break $100,000 by day 10, which is going to be pretty ridiculous. Maybe this will be a $250,000 challenge.

Either way, it’s just really exciting. The market has been so great for us. We’ll go over the trades from today. Those of you that re going to watch this on YouTube, I’ll show you the stats here of the 100K challenge. Everyone on Facebook, I’ll show you guys the stats too.

All right. This is my progress so far on day eight. I’ve got $22,000 roughly in gains. Then there’s Mike on the leaderboard. Jeff hasn’t updated for today. Roberto hasn’t updated for today. John [inaudible 00:02:05], small green day today. I know he was in the red, so he was just happy to get out and finish the day green. Sam, green. [Arsh 00:02:13], no trade yet or hasn’t posted it yet. Jason hasn’t posted. Shawna, small red day. Josh, a small red day.

If we go down to the bottom, this is where we are all lined up right now. Really just great work for everyone that’s part of this challenge. I mean, these are pretty much all traders who were at one point students, who are still students in the classes. To now be making $5,000 a month, $10,000 a month, $20,000 a month, I mean, it’s really just crazy.

Even for me here, $22,000 a month, and we’re only eight days into the month, is really positioning me really well to have a great month of November. October, I finished with $35,000. November is looking like it might be even better. Let’s look at my trades for today. Today did not get off to the best start. First trade of the day I lost $1,917. Normally, that would be enough for me to throw in the towel, and walk away, and say, “I’m done. That’s it. That’s my max loss. I’m not going to keep trading,” but earlier this week, and I think once last week or the week before, I had similar trades, where I went into the red by $1,500 or $1,000, and I was able to work myself out of the red and finish the day green.

Because we’re in a really strong market, I felt like, “Okay. Yes, I took a loss on that first trade, but there’s a really good chance that I’m going to see other opportunities today. I’m just going to keep looking, and we’ll see what pops up.” First trade of the day was on AMDA. This one was actually a lot like YECO yesterday. It’s a reverse split. It popped up from $3 pre-market all the way up to 6.30. I jumped in it at $6. I got in it high. It popped up to 6.30 and then dropped down. I ended up stopping out at 5.11 for almost a full point loss.

Now, very similar to YECO yesterday, big spreads, really volatile. Yes, it had potential to squeeze up more. In fact, YECO yesterday did much better out of the gate. It went from six to nine, and that’s kind of what I was thinking was the potential on AMDA, that we would squeeze from six to seven, eight, maybe nine. Even if it was volatile, even if the spreads were big, that I would still be able to capture some good profit in there.

Unfortunately, this one just didn’t work out. By 9.32, I’m stopped out and sitting down 1,900 bucks. I kind of thought, “Okay. Well, you know, that’s not what I wanted to see, so I’m going to take a breather.” I took a breather for about five, six minutes, just kind of slowed down, said, “Okay. Let’s bring back the focus. Be calm, cool, collected. Let’s look for the next opportunity.”

Next opportunity was ONP, ONP hitting the high day momentum scanner. I checked to see that there’s news. It taps the half dollar of 1.50, and then it pulls back, and that’s where I jumped in long at 1.50. 1.46, 1.45, 1.49, and 1.50. Matt asked earlier when I’m getting out … Daniel, send me an email, and I’ll take a look at that. Matt asked me earlier, when I’m getting in for a half dollar break, where do I get in? Do I get in right at the half dollar? Do I get in earlier? On ONP I started buying at 1.45, 1.46, 49, and 50, because I saw the volume coming in, so I got in a little earlier. I put on order to sell a quarter at 68. It pops up to 63. Didn’t quite get up to 68. I ended up selling half at 60, 550 bucks. I sell more at 55 and 52. All out, that trade made me about $1,000.

After that trade I was down 900 on the day. I was like, “Okay. You know, 900, I can work with this.” I get back in ONP at 63, 65, and 70. It pop ups to a high of 71 and 72, didn’t really hold that level. I tried to put orders on the ask. It ends up getting to 72, a little bit of resistance there, and I sold the rest at 60. That was on this little one minute pullback kind of right in here. We popped up to 88 and then dropped dropped down. We squeeze up again.

I get back in at 190. On this one, just basically doing scalp trades, getting in, getting out. It’s a cheaper stock, so I was being a little bit more aggressive on my share size. In at 90, out at 97, 92, 95, [inaudible 00:07:33] back at $2, selling at 2.05, 2.03, 2.03, 2.04. On this one, being really quick, getting in, getting out, getting in, getting out. That worked really well. We ended up squeezing up to a high of 2.45. In total, I made $2,791 on ONP. That put me back to green on the day. At that point, I was looking for the next trade. ONP, really solid trade.

Then CREG pops up, so C-R-E-G. A couple more trades here, as you can see, on ONP, scaling the move up. Then we have CREG. 7.34 was my first entry. We’ll go back here to the one minute. I saw it pop up, and it broke over $7. $7 was a place I was kind of watching. The pre-market high was 7.50. We tapped a high of 7.50. Then we pulled back. As we curled back up, that’s where I was adding. Starting with smaller size at 34 and 35, and then adding a little bit more aggressively at 7.50. It pops up. I flip it on the ask, 7.74, 7.75, and 7.57. So, I’ll show you guys this order. Jumping in and then flipping out up on the ask. Getting back in at $8, selling at 8.06, 8.09. Getting back in at 8.43, selling at 8.46, 8.65, so just capturing 20 cent windows here and there. Getting back in at 8.42 and selling at 8.76, 8.65, and 8.54, 8.53.

Another $2,900 on CREG, and that gives me $3,850. This could have been a $6,000 day if I didn’t fall so far into the red on that very first trade, but I stepped up to the plate. I was being a little bit aggressive. I thought it had potential. On that one I just, you know, just ended up being wrong. Relatively speaking even though $2,000 is a bigger loss, I did manage my risk on that one by only taking about 2,500 shares. I wasn’t as aggressive as I could have been. Even though I lost a fair amount, you know, I kept it reasonably tight.

Now, the reason I was quick to flip out the profits was because these stocks were whipping around so much. Basically, we were seeing these squeezes up and then these drops back down, the move up. It was just all over the place, so I really felt like I needed to be more aggressive with taking the profit off the table when I had it. Then I can always reposition to get back in. As it turns out, with CREG, because it went up to a high of 9.39, sure, maybe I would have been better in this case just buying and holding, but ONP is back down at $1.35, so I certainly wouldn’t have been better off there.

At what point do you take the profit? You know what I mean? You just kind of set a rule of thumb of when I’m up X amount, whether it’s 20, 30 cents, or 1,000 bucks, or whatever it is, that’s when you start locking up the profit. That worked really quite well today. 3,800 bucks. Yesterday was 5,500, the day before 4,900. I mean, three days, almost $12,000, $13,000. That’s pretty good. This has been a really fantastic week. It puts me up I guess over $20,000 on the month. I really can’t complain about that, considering this is only the first full week of the month. We still have three more weeks left.

The 100K challenge is going to continue through the end of the month. We’re going to see where it takes us. Right now I’m probably thinking 250,000. We’ve got 20. Let’s see, 10, 12, 13, 14, 10. I mean, we’ve got enough trading days in the month that 250K is probably not unrealistic. We’ll see, but I’m just going to keep working it, being aggressive, getting in for the breakouts, setting tight stops, trailing those stops. You guys in the chatroom are just going to be able to watch over our shoulder as these trades go by, trade after trade after trade.

Remember, if you’re a beginner trader, you’ve only been in the chatroom for a week or two weeks. You’re new to the community. You see what’s going on in the challenge. You don’t want to miss it. New member to the chatroom. I get it, but I want to encourage you to be really mindful of your risk, because this hot streak that we’re seeing right now, it’s not anything different from what we saw in the beginning of the year. We see these again, and again, and again. If you’re a new trader and you don’t know how to trade these strategies, you haven’t focused on education, then there’s a high likelihood that you’re going to end up losing money on these trades.

The same stock that I might make $3,000 on, you could lose 3,000 on, because you don’t have the right entry. You buy too high. You sell as it’s coming back down. Learning how to get the right entries is critical. One of the things that I say is that trading is easy. It’s true that it is easy. This job of sitting and punching the keys is easy, but it’s only easy, number one, once you learn the rules to trading the market. The reality is nobody really teaches the rules. I mean, we teach the rules, but very few people out there teach the rules.

It’s not a surprise that nine out of ten traders will lose money. It’s because they don’t know the rules of the market. It’s not really their fault, because, you know, the market is sort of rigged for institutional traders. It’s for big money. Those are the people who are really running the market, and we’re retail traders. We’re the little guy. We don’t really have much of an edge. We’ve got to find that edge. Now, by creating a set of rules, by creating a strategy, that’s how we create our edge. That’s why I have 29 consecutive green days, because I’ve created this strategy, and I found my edge in the market.

Once you learn these same rules, well, then you’re halfway to success. Now, it’s not enough just to know the rules. You’ve got to follow the rules. That’s phase two. Practicing in a simulator, taking the same trades as me, but doing it in the virtual, in the sim currency. That way, if you lose money, it’s no harm, no foul. You practice. You gain the skill through practice. You get to the point where you learn to respect the rules. Now, you know the rules. Now, you follow the rules, and from there, trading is easy. Now, it doesn’t mean you won’t occasionally have a setback, you know, a loss like I had this morning or a momentary lapse in judgment where you don’t follow the rules, but overall, once you know the rules, it’s all about the discipline and having the discipline to follow the rules. All right?

Anyways, this is another just fantastic week of trading. A couple really strong weeks here. I’m just looking forward to Monday. I’m kind of bummed out it’s Friday. Can’t wait to get back to it Monday morning. Hopefully we see this momentum continue into next week, and then the week after, into Thanksgiving, and just through the rest of the year. All right? Hope you guys all have a really good weekend. Those of you that are beginner traders, I encourage you to spend this weekend studying. Go through the Warrior Starter Course. Just build that foundation, so come Monday morning you’re ready to kind of hit the ground running. All right? I will see you all first thing Monday morning. I hope you guys all enjoy the weekend. All right. I’ll see you guys on Monday.

Oh, hey. I didn’t see you there. 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.