Warrior Trading Blog

A Quick $1K! | Ross’ Trade Recap

Ross_8.20

What’s up everyone? All right, so here we are finishing the morning $1,000. Not bad. I lost about 400 in my main account, made about 1400 to my retirement. So net profit, $1000. Green is good. It’s not quite the daily goal. And you know what, I’m looking over my shoulder and I’m seeing CETX continuing higher and I’m a little annoyed. I had a couple of really good trades on it and a couple of ugly losses on it. I’m green, but today I’m just saying, I’m not going to trade past 11:00 AM. And if this thing goes to $20 it’s just going to go without me because I haven’t been trading well past 11:00 AM. It’s sort of a decision fatigue that that happens.

When you try to trade after lunch and you try to get back into the market and you’re just not as focused as you were during your peak performance hours, which for me is from 9:30 to about 10:30, 11:00 AM. So, you might think, I’m in good shape. I’ll be fine. I’ll take a couple of trades on this. It’s going higher. And the next thing you know, you take a big loss, it’s hard to recover from it and you ruin what could have been just a nice, solid green day. So I’m going to take the profit. $1000, put it in my pocket and I’m not coming back until tomorrow morning. All right, so I’ll see you guys first thing tomorrow morning, 9:15 for our pre-market analysis.

All right, everyone. So we’re gonna go over the trades from today. The big winner of the morning for me is CETX. Big winner is going to be a relative term today because CETX was not an easy one to trade. It was on our gap scanner. It was on the watch list this morning. But, the first 30 minutes of trading was just terribly choppy. I mean, ridiculously so. Let’s look at the gap scanner from this morning. So this morning we were looking at the gap scanners and I’ll do, let’s see … Where is this? Timeframe, historical date and time. We’ll run this scan at 9:20 AM. So 9:20 AM CETX was at $2 and was our second leading gapper behind iBio. So I was looking at it pre-market thinking this looks very interesting. We’ve got a headline on it, it’s moving higher pre-market. So, everything looked good. The bell rings, it squeezes up to 42 and then it drops down. And then it squeezes back up to 37 and then it drops down. And then it squeezes back up to 48 and then it drops down.

So through all of this, I started the day by losing $1,700. I lost 1700 bucks on CETX, and that was in my main account. So I traded both my main account and my retirement today, and I’m going to be down 650 in the main account. I was able to make back 1100, but I wasn’t able to make back everything. But I also didn’t break below my daily max loss, which is good. I was down 1700 and then I started digging myself out of the hole. But, boy, CETX, this was some frustrating stuff. I was taking 12 and 15,000 share positions. It’s a lower price stock, so I was thinking that that was going to be the best way for me to make 1500, maybe $2,500 on it. And it worked in this account. But my first trades on it were just, it just failed.

So our first 15 minutes, red doji, red doji, high red volume, no follow through, not clean. And then it started to open up. So where it opened up right here, this is where I took the trade in my retirement account for the break of 250 and I bought 12,000 shares. So we got a break here of 250, it pops up to 265 and that gave me my … Well, as I scaled out I made about a thousand bucks on that. We then had a little pullback here. I actually took this trade, it didn’t work. I stopped out quickly for a small loss. I then got back in right here for the break over the highs. It hit 67, didn’t open up. I got, let’s see, where was my last trade? I did trade it on this move. Where was this?

The high is 78. Yeah. Yeah. So this was my last trade and it didn’t really work that well. So kind of disappointed that we didn’t see cleaner action on it. And at this point I’m kind of just going to throw in the towel and say I’m done for the day. I don’t want to overstay my welcome. As I said yesterday, I gave into FOMO, took some afternoon trades on Yuma and that was a mistake. I traded it today as well and made 250 bucks on it. But, we had this terrible drop yesterday, but where I lost on it was anticipating this ABCD setup breakout. I thought it was going to break right here and break 650 and make a move up to 7. It didn’t, it’s dropped very quickly to 550 and I took a good size loss on it. So gave into FOMO, and so I made this little sticky for myself. Don’t trade past 11:00 AM.

So today I’m not going to, I’m just going to throw in the towel. And I did take a few trades, DPW, SOLY, Yuma, these are all small. They basically cancel each other out. The loss on CETX I just couldn’t recover from because I was down so much, which is disappointing, but it’s just part of the, I don’t know, part of being a trader, learning to just take these hits. And yesterday was just a little discouraging because I had such a great morning, and then to give back profit trading in the afternoon, which is just unlike me to do is really disappointing. So, I’m just glad that I turn it around today. I was down $1,100 around 10:00 AM and I thought that was going to be it for the day, and then got this trade here and went from red to green. So I went from being down $1,700 to up 1000 bucks today. And that right there is a victory. So, I’m not quite at the daily goal, but that’s okay. Thousand bucks. And you know what? If I can make $1,000 a day for the next eight days, that’s an extra $8,000 for the month of August. And that’s actually going to make a little bit of a difference this month.

Yeah. And sometimes I do trade past the midday recap. Yesterday for example, I traded after my midday recap. I typically don’t because typically I follow my rules and I’m done by 11. But every now and then I will, and sometimes it works and sometimes it doesn’t. Yesterday it didn’t work, and so I’m going to … And it didn’t work last week when I did it. So I’m just going to say, that’s it. I just got to focus. I was green last week, I want to be green again this week. And that means I can’t make unnecessary mistakes. I’ve got to focus on trading the big moving stocks like CETX. I’m green on it, but not as much as I’d like and it was whippy. That’s just part of the deal. So CETX today, that was really the only one that gave good opportunities.

DPW, a couple of opportunities. I traded it here and traded it through here, but wasn’t super easy. Yuma, I tried to do a little red to green on it. It squeezed up here to 351, didn’t hold, came back down. SOLY, this is a higher price stock. This one I didn’t even want to call out because I knew the risk was high on it. But I just traded the one minute pull back here. So little scalp there, made a move up to 1370. Nothing too exciting. So consolidation broke out. I didn’t buy the breakout, I bought the first pullback. Only made like 170 bucks on that, so that’s fine. Small win. It helps, any little bit helps on a day like today. So, progress is being made. I don’t want to not be grateful for $1,000. John, I know he was walking away with like $350 today and he said, it’s not maybe as much as I wanted, but it’s a good day and I’m going to take the profit. So I see some of you guys posting your P and L in the room, which is nice to see. So there’s CETX, SOLY, nice job. I saw a couple others that got posted. Where was it?

Well I guess I lost track of where you posted that screenshot. But in any case, 550, I mean, it’s progress. So trying to finish the day green is what it’s all about. So good job for those of you guys that navigated these tricky markets and you’re green on the day. For those that struggled, tomorrow’s a new day. And, I’ll say that we really didn’t see as much follow through today as we did yesterday. So, maybe today’s a little bit of a day of rest to let traders catch their breath a little bit, and maybe we finish off this week, Wednesday, Thursday, Friday with a couple more big movers like we did last week. Things have definitely changed from two weeks ago or a week and a half ago. We’ve had Yuma, DPW, CETX, iBio. We’ve seen a lot of momentum. So it’s definitely a good sign for those of us who are momentum traders. All right, that’s it for me. I’ll see you guys first thing tomorrow morning. Remember, 1:00 PM Eastern this afternoon I’m hosting a free workshop. So those of you guys that have already registered, I will see you then. Those who haven’t, I encourage you to do so if you don’t have anything planned for this afternoon. I’m going to just post the link right here on Facebook so you guys can see it. And those of you guys in the chat room, you’re welcome to register.

So this will be the last workshop until September. So if you’re not already in the Warrior Pro classes and you want to learn a little bit more about my strategy and what it’s like to be a student, make sure you register. All right, everyone. So that’s it for me. I will see you guys at 1:00 PM, and everyone else will see you first thing tomorrow morning.

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