Warrior Trading Blog

+$8,740 On My Traveling Trading Station! | Ross’ Trade Recap


What’s up everyone. All right. Here we are on the traveling trading station up $8,740. Not Bad at all. I mean, another really solid day of action. ELTK was the big winner for me today. Third day in a row of really great momentum. Let’s keep it up. Let’s finish up the month of May strong with one more green day tomorrow. I’ll see you guys all first thing tomorrow morning.

All right, everyone. Here we are finishing third really solid green day in a row. And I’m going to finish the morning up here $8,740 and 55 cents, which is awesome. I really can’t complain about that, it’s a big green day. There’s my P&L. Big winner, ELTK currently up 33%. My account has $75,000 in it, the account’s up over 10% in one day. Even you guys trading with a $7,500 account, making $800 in one day is awesome. I mean, there is to a certain extent some relativity to your account size. But generally I don’t even use the majority of my account.

My biggest position on this stock today was 9,000 shares, which is about an $80,000 position. With six times leverage at one of the brokers in the Caribbean. If you had a $15,000 account with six times leverage, you would have certainly had enough money to pretty much take all of the same traits as me, which is good. In terms of just share size. Anyways, as we we’re looking at ELTK, this one, it was a great set up yesterday.

I did okay on it actually made like four grand and then I gave it back on this drop right here and look at this thing. It’s doing the same thing today. But today I didn’t let it outsmart me. Today I kept the money in my pocket. Only $6,500 of profit, I mean it’s not a home run for me. I would say at this point, being above 10,000 is a really solid day. Being above 15,000 is pretty much a home run. Being above 20,000 is a grand slam. That’s just an amazing day.

And anything from 20 to 25, I mean I can count, I’ve had a $30,000 day. I’ve had a couple of $29,000 days. I have one $40,000 day, a couple of $22,000 days, but the number of days over 20 grand, I could pretty much count each one of them. Those are the grand slams. But today I would say was a couple of solid trades on ELTK and things came together nicely on it, but nothing, just incredible. As we look at ELTK here, this was where I really got interested right here at $6 and 20 cents.

I actually put my order to buy right there and it did not get filled, it popped up too fast without me. It hit a high of 654 and got halted, but we were watching it from right there. And we’re watching this one, because it was in play yesterday, so part of the daily watch list is asking yourself what was hot yesterday and is that stock still in play today? And sometimes it’s not right?

Sometimes we have a secondary offering, something happens and it’s definitely not in play. And other times like today, ELTK was still worth watching. Now I said pre market that I was a little iffy on it, because yesterday’s high was $8 and 72 cents, in pre market it was back at $6. He had pulled back almost not quite 50% of yesterday’s move, but quite a bit. But then right here when we got this red to green setup on the five minute and start to open up, that’s when I got excited.

Now, some of you guys, you can see these indicators that I’ve got on my chart, these red lines. These are indicators that we’ve been using on some of the stocks that we’ve been trading, especially on the five minute chart. They help you visualize support and resistance levels a little bit more clearly. The places you want to be a buyer, is when we break over these types of resistance levels, the red line buying the break of red line, right? That’s a pretty critical spot. You can see it worked really well on ELTK yesterday.

This indicator we cover in the warrior pro classes. Anyways, this morning this was the entry. It was super obvious break of 620 early entry. The high of day was 637, so I knew that it was going to be worth watching and this gave a really nice scalp opportunity. We then popped up to a high of 775, we pulled back first five minute candle to make a new high. That’s the pullback setup. Boom, that’s the next entry, squeezes up into a halt, 906 resumes. It opens higher.

I bought the dip, it dips down to 910 and as it surged back up, I bought and then sold on the move to $10. This is one of my favorite ways to trade coming out of a circuit breaker halt. Let’s look at this on the one minute chart. We’ll talk about RBZ as well in a second. That was a decent gap and go trade. But this one was more exciting. Stock is halted right here and actually let’s even bring this down to like a ten second chart, which I wouldn’t use for trading.

But just for showing you guys what was happening even inside that one minute candle. I think it’s worth pulling up. All right. Let’s go back to right here. Okay. We squeeze up and we get halted right here. Right? Halt at 906. It resumes, it dips down right here to a low of, what was this? This was $9 and 10 cents. And as it surges back up, I bought it at 930, 940, 947. 6,000 shares, it pops up to 969 and then right here up to 994. And just like that, I made $3,000.

That was actually my single biggest trade of the day. A very small quick trade buying the dip. And then I was still holding some of that position, into this move right up here, scaling out as it squeezed up. I still had 390 shares, I think it was, going into this third halt or was it the second halt? It resumed, it dropped down and I ended up selling the rest of it back here for a small loss.

But then I actually got back in and rode this momentum back up. In any case, the dip coming out of the halt, ended up being a really great opportunity to jump in a strong stock. Now RBZ was a gap and go trade gapping up 17% pre market with news. And so on that one, I just bought a simple break of the pre market pivot. We can back this up here. You can see the pre market pivot was 58.

Actually what I did was the bell rang and as I bought at, I think it was 38 and 40 for the break of the half dollar, expecting that as soon as we broke the half dollar, we would break over 59 the pivot. And as soon as we broke the pivot, we will go back to the pre market highs. From there with a 9,000 share position, we got to move up to 75, but it didn’t hold that level and it came back down. In any case, in the first minute of the day, 20 cents with 9,000 shares is 1800 bucks.

I had my cushion in the first minute of the day and then I was able to use that cushion to take trades on ELTK. AEY was off the high day momentum scanner, but that one didn’t end up actually playing up super well. Just a small scalp on it. It popped up to two, it dipped down, I bought the dip. It retested a high of like 95, but couldn’t break over two, and then I stopped out.

Anyways, all things considered a really solid day. The account is growing, which is awesome. I’m not sure exactly where I’m at on the month of May here, but definitely somewhere in the 60,000, above 60,000, somewhere between 60 and 70,000. And at this point, we’re just killing it momentum. The last three days has been amazing. In fact, on Monday I was up 12,000, before finishing the day up, I think around, I can’t actually remember how, I think I made 3,500. I gave back a little profit. Tuesday, yesterday was a solid green day, 7,000 I think I made. And today 8,700, so three really awesome green days in a row. We’re seeing momentum.

SOLY, ELTK, big momentum stocks, definitely squeezing out some early short sellers, showing how the market can be irrationally strong. This is my thing. I trade the market that we’re in right now. We’re in a hot market. This is my time to be aggressive, to try to capitalize because these profits, they’re going to have to carry me through a slow week. Inevitably there will be a slow week at some point.

And I want to make sure that the profits from these really awesome weeks tide me over. Now, some of you guys who have smaller accounts, you might think well, geez, today’s one of those days where I’m trading with a, let’s say, say you’re trading with an $800 account. And you’re like, I’m only up $87 today. Now, hey, it’s still 10%. It’s still good. But $87 of profit isn’t enough to tide me over through the slow periods.

And I think what you just have to keep remembering is that, where you are in the journey to becoming a full time trader, you’re at a place where you’re not able to really leverage your account. You can’t afford to take a lot of risk. And so you’re going to have to go with smaller gains. And that’s going to mean that, there might be some weeks when we don’t have really strong momentum, where the best thing you can do is just sit on your hands and not be aggressive and not take any trades.

And even though it feels like I don’t have a huge cushion to allow me to just go sideways. If you’re green each month, you’re doing a great job. And that means not trading aggressively when the market is not positioned well. Look at this ELTK here, the high of day is $11 and it’s moving back up. I mean, this thing might have more in it. It’s got 10 million shares of volume. Really some great opportunities here.

I’m going to keep my money in my pocket. I’m not going to go back into the market. It’s always good to know when to walk away. But if I look at this later this afternoon, I see it squeezed up to 14, $15. I’m not going to feel fomo. I’m just going to think that’s a great sign for momentum in the market. It just means that we’ve got an even better chance that tomorrow is going to be an awesome Friday.

All right. That’s it for me. That’s my game plan. I’ll see you guys first thing tomorrow morning and hopefully we can finish off the month of May with one more green day. All right. I’ll see you guys tomorrow

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