Warrior Trading Blog

8th Day of Solid Momentum +$4.7K! | Ross’ Trade Recap


What’s up everyone? Alright, so here we are finishing the morning green on the day. This is the eighth solid day in a row. All of last week was good, Thursday and Friday of the week before was solid and today Monday is the eighth day of really good momentum. Today we had RKDA, FFHL, ARCI all giving some opportunities, but none of them being picture perfect. We had to kind of work through some false breakouts, a little choppiness, a little whippiness, but I’m just fortunate here and grateful to be finishing the day green with more money than I started the morning.

Now I want to remind you guys this week and starting today, our Labor Day sales have begun. So I want you to come over to the website, use the coupon code Labor Day to save 30% on the chatroom subscription, the warrior pro, the warrior starter, the simulator, anything you want store-wide. All right, so let’s try to finish up this last week of August with four more green days and go into September and enjoy the Labor Day weekend. All of that feeling good. All right, I’ll see you guys first thing tomorrow morning.

All right everyone. So we’re going to do a Midday Market Recap here. Go over the trades from this morning. As you maybe just saw there, ARCI doing a false breakout, a pop up to 632 and then a flash drop back down to 593. This one has not been easy at all. I mean it’s been really tough. So I’ve taken a number of trades on it and unfortunately given back a substantial amount of the profit that I had on it. Up $4,706 is not bad at all. This ARCI initially hit our scanners as it’s squeezing up right here around 470. So let’s see, let’s go back to this one. It was actually 436, 432, 440, 460, 470, 480, 490, halted at 491. Resuming at 505, squeezing up to 550 pulling back. I was already in with a partial position before the halt, coming out of the halt, I added at 525 and on the move here up to 584 I took my profit. That was a really nice clean move.

I then got back in for the break of 584, then we got a false breakout right here. So this was the first of the tricky breakouts. We broke by 10 cents and then it dropped 75 cents or 70 cents. I mean it just popped and then dropped right back down and then it ripped back up. But only to 614 before coming back down again. And then coming back up looking like it’s going to break over. And it does break 614, it goes to 617 and only breaks by 3 cents and then comes back down. And then comes back up again, break out again by about 8 cents and then a drop back down. And then here was this last one, a breakout again, but only by about 5 cents and then dropping back down.

So you can see these doji candles, these candles of indecision. I was actually up over $7,000 on the day before I gave back some profit and I’m a little disappointed to give back some profit, but at the same time, I’m going to walk away today green, which is terrific and at the end of the day that’s kind of what it’s all about. Do you have more money in your pocket then you had at the beginning of the day? If the answer’s yes, then good work, you’ve done a good job.

But today was not easy. FFHL, boy, what a kind of disappointing set up, disappointing resolution because this one was the big move on Friday, made $10,000 trading this on Friday, here Monday morning it was gapping up and looking at a possible continuation. Squeeze up to a high of 7.20 pre-market. The bell rings, the market opens and it actually opens at about 685, it dips down to 680 and as it dipped down, I actually pressed the buy button and I got within the same second, I got partial fills at 680 and at $7. So someone must’ve been pressing the sell button when I was trying to buy at seven because I got a partial fill, probably bought some of their sell shares at 680 and then bought shares on the ask at seven. It rips up here. I add for the breakthrough 720, it hits a high of 737, I [inaudible 00:04:51] my profit, I then got back in on the 10 second chart.

We’ll see this little micro dip here where I added back, which ended up being a mistake. I gave back about $1,000. So you can see right here, this is much clear. You can see, so I added for the break right here and we broke but then quickly reversed back down and that’s where I gave back $1,000 of profit. So I was up about three grand on FFHL and then gave some back.

RKDA. The first trade on this one, put me in the red. This one I just … This was a gapper and it failed. Well let’s look at RKDA. So this was on the gap scanner. If we look at the gap scan right here, you’ll see RKDA was like a third gapper. ARCI, actually I didn’t even see that as a gapper but in any case, yeah, I don’t know. That’s weird. I didn’t notice that that was a gapper this morning. But yeah, FFHL is on here somewhere, I don’t know where. But anyways, so RKDA has this kind of nice looking pivot at about 820 and another kind of line right here at $8. So I was looking at it thinking, okay, this actually looks pretty decent for a breakout. I do like the look of this.

So the bell rings and it immediately pops up. I missed the first breakout because I was focusing on FFHL but then I bought it right here at 380, sorry 830, and it pops up to a high of 840. It then drops back down and I stopped out and I went red. So I was red on this one, which was disappointing. But then I got back in right here at eight, the first five minute candle to make a new high and I made back what I lost by being more aggressive with the larger share size on this one. So I ended up doing okay on it, I guess. $525. But not a home home run by any means. So you know today, probably the best and most sustained move has been ARCI but it’s really kind of been topping out up here near the highs.

The reason I jumped in it as quickly as I did, I saw it hit the scans. I was familiar with the stock. I’ve made money on it in the past. So familiarity with the stock, knowing it’s a former runner with a history of making moves. Now both to the upside and the downside, but volatility is opportunity. I saw that there was a catalyst [inaudible 00:07:45] and so I press the buy button. So I was quick to jump in it and I think my first entry was like 475 or something like that. I had a pretty good initial entry adding as we squeezed up into the halt, adding coming out of the halt at 525. So kind of like NETE, it did well in the first part of the breakout and then trying to take breakout trades up here, and a little here and here and wherever it was, just kind of got me into trouble and ended up giving back a really decent amount of the profit, which I never like.

So if I give back half my profit, that’s definitely a good day to step back or a good time to step back. And I definitely did that on ARCI. I gave back half the profit on that individual stock. So that’s fine. It is what it is. Live to trade another day and $4,700 in the green here in my main account is pretty good.

So that’s it for me. I’ll be back at it first thing tomorrow, Tuesday morning. Hopefully we see some good opportunities on the scans. I think, no doubt we are seeing some opportunities right now. So it’s this last, let’s see, last Thursday, Friday, Monday. So seven, this is the eighth day of, I would say pretty strong momentum. So this for me is the time to dig deep, be a little more aggressive, try to capitalize as much as I can because these last eight days are what are making the month of August for me. It wasn’t certainly the week and a half before that. It’s these last eight days that have turned the month around completely. And so I need to keep trying to be aggressive, keep trying to capitalize on these opportunities and make as much as I can in these last now four days of the month before we close it up and start the new month of September. All right, you guys. So that’s it from me. I’ll see you all first thing tomorrow morning. Bye everyone.

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