Warrior Trading Blog

A Solid Green Day! +$2,300! | Ross’ Trade Recap

What’s up everyone? All right, so here we are finishing Monday morning back in the green, up $2300, so a solid green day. I traded six stocks today, I’m green on all six. Five of the trades were pretty much small winners, nothing really to write home about and then one decent sized winner that got me up and really nicely in the green.

 

I’m happy about that, puts me back to green on the month. Now I’ve got four more days to try to really get myself up to $10,000-$15,000 on the month and that would be good, that’s the goal. Anyways, we’ll break it all down in today’s midday market recap. Any questions, any comments, leave them below I’ll come back through and answer them later today.

All right everyone, we’re going to go over the trades here from this morning. It’s a little past 11:00 and today was a pretty busy day of trading for me. I ended up taking a bunch of trades about 83 total executions, that’s 83 times I either pressed the buy button or the sell button. But remember I didn’t trade 83 different stocks, for one stock trade I may buy in three orders of 3000 shares for a starter. 3000 to go to midsize of 6000 and another 3000 to go up to 9000 shares, which is kind of a good position for me. Then I might sell half, which is 4500 shares. Sell another half of 2250 and sell the balance, so for one trade, what I would consider one trade, I may have six order executions.

Now at $2 per execution at Lightspeed I’m really not sweating the commissions, it really doesn’t make a very big difference it’s like $12. It is worth noting that that strategy if you’re trading with a broker like E*Trade or Ameritrade, could be very expensive. 83 trades, for me that’s $160 in commissions being up $2300 I can handle it, but 83 times 5 if you were at $5 a trade or $9 a trade, could be absolutely impossible. Having the right tools and the right broker is important.

Today you can see my winners sorted by biggest to smallest. Six stocks that I traded green on all six names and GMs kind of an unusual trade for me being that it’s such a big float, but I’ll talk about that trade down here in a second. ATAI, the biggest winner $1400, so we’ll start by, well actually why don’t we start by looking at the gap scanner from this morning and then we’ll go back and look at that trade. Okay, so this mornings gap scanner I’m going to go to timeframe and then historical data and run the scan for 9:21 this morning. This will show me exactly what I was looking at when I opened up my computer this morning and I was trying to find some stocks to trade as we put together the watch list.

A leading gapper was PERI, P-E-R-I, or PERI, however I want to say it. Or just P-E-R-I. Now this stock appeared to be gapping up 189%, but as we looked at the chart it actually looked like it was gapping down slightly. So, what would cause that to happen? A reverse split. The company did a 3 to 1 reverse split yesterday, or overnight, and so, that means the price is multiplied by three and the float is divided by three. What was a 70 million share float is now going to be like a 23 million share float, but that’s still pretty high. There was no other catalyst other than the reverse split, so for me I just didn’t feel like this was going to do much. If there was another standalone catalyst I totally would have been interested, but today there wasn’t. Sometimes these will coincide with things like earnings or some type of big headline, but that just didn’t end up being the case today. So no trades on PERI. Popped up a little bit here from 355 or so to 390, but I really wasn’t that interested. Anyway, so that was off the list.

Then we had next one down IGC, well this one, you know, again it’s a little on the cheap side and the float’s a little on the high side, didn’t end up taking any trades on it, so nothing on that one. All right, next one down, TRLY, or TLRY. Too expensive at $50. Yes has a low float, but I can’t trade, I don’t want to trade a $50 stock for momentum, the risk is just too high. So, too many false breakouts. Now CRON, this one continuing it’s move, it’s cannabis stock. I really, I’ve had a bias against this because it’s 150 million share float. For the last week I’ve been saying, “No, I don’t want to trade if the floats too high, I don’t really think it’s going to move.” Then it keeps ending up surprising me, but then I keep thinking yesterday or Friday and again this morning that if I didn’t trade it in the beginning of the move when it was under $10, trading it now that it’s over $10 really seems kind of like I’m chasing it. I keep kind of feeling like I should just leave it alone.

Anyways, the bell rings and this does a really nice little red to green move. It dips down, and I’ll actually take a screen shot of this for the classes, it dips down and then it surges up. It has a premarket high of right around $12, it dips down, it surges from $12 or $11.60 up to a high of $12.88. I saw both Jill and John, they both scalped some profit out of this one, it was a nice move. A really solid move and I missed it. All right, so I missed that trade, but I ended up taking another trade on a stock that had sympathy. I’ll show you that one in a second.

Anyways, going down the scans, nothing here, nothing here too cheap. Then to NEPT, this one was like a maybe, it was kind of interesting for a break over the premarket high, but the bell rang and it sold off. So no trade there. NEPT, I saw someone mention on Twitter that he grabbed a trade on this thanks to the gap and go strategy, so good job there. Maybe that was also a little red to green move, or maybe it was premarket, but I didn’t take any trades on it, so nothing on that one. All right, so that was off. Then SEII, let’s see, this one I didn’t even really look at, volumes too light so nothing, nothing, nothing.

All right, so basically off the scans I didn’t have anything I really like except for TNXP, or sorry TRPX. TRPX was on the watch list because it was gaping up, I don’t know why it’s not on the scan at the moment. It was only gaping up slightly, I don’t know, but in any case you can see it was gaping up slightly. A dip down a little bit right before the bell, maybe that’s why. This one had a premarket high of $4.50, the 200 moving average of 475 and it’s also a cannabis stock. I was like okay, with CLRN being strong, maybe I’ll end up trading this one, maybe. The bell rings and CRON squeezes up and then this one starts to move up as well. On this one I’ll show you my very first trade, which was on SC in a second, but TRXP, so I jump in this one at 463 and 464. I try to add at 469 it [inaudible 00:08:07] get filled. It immediately pops up to 47480, I add at 492 and 498.

I now have 13,000 shares and I’m being aggressive on this because number one, it’s a decent daily as it broke over the 200 moving average. Number two, it’s showing me its strong by already moving up 60-70 cents, and number three, CRON is strong and this is sort of a sympathy stock in the same sector. So CRON tops at 933, which was awful timing for my TRPX trade. If CRON had kept going up to 13 and 14, most likely this would have continued going up as well, but it rolled over as CRON rolled over being a sympathy stock and it dropped back down.

Right here what I was able to do was sell, I tried to sell some at 16, some at 07 on the ask, it didn’t get filled. Hit the bid at 98, hit the bid again at 83 and now I’m trying to unwind the position. Selling at 86, 82 and the remainder at 60-67, basically slowly unwinding the position. Taking losses on some of the shares, profit on some of them to a net profit of $115 on 13,000 shares. Basically a breakeven trade. It’s a bummer because with 13,000 shares I had an average of 480 and as it broke $5 I was up $2,600. But you can see it didn’t hold that level, it tapped 518 and then came right back down in the next candle to 454. It was just bad timing with CRON rolling over basically as soon as I got in. Anyways, stepped up to the plate, was aggressive on share size and ended up being basically a flat trade.

SSC, this one I made you can see $145 on, this was a continuation trade that we were watching. It was strong yesterday and it was strong premarket, so this one I was watching over the premarket pivot of 568. The bell rings and it dips down for a second and does a red degree move. It surges up to 72 and then has a big seller up there at 75, so I’m in at 57, I’m out at 61 and 63 and yeah, 61. I end up only making like whatever, $145 on it and it’s a good thing that I stepped out because when these kind of red degree moves don’t work, well it can be bad. You can see this ended up selling off pretty hard. It did do a bounce off the low, but I don’t really like to take that type of reversal trade. Generally I feel like this kind of weakness is just not something, I just don’t want to trade it. Anyways, that was SSC, only one trade on it, basically in and out, so that’s SSC, TRPX.

Then at that point I’m just sort of like okay, what’s going to be next. A bunch of executions on that and then we have TIS, so TIS we see it on the scans, it was moving higher. My first trade on it was sort of an aggressive scalp trade. This one I didn’t even call out, I just felt like I was kind of trading fomo on it. I jumped in it at 60 and sold it at 63 for a tiny little scalp, made like $140. It pulls back, ends up coming back up, I get back in it after this OBLN trade at, let’s see, 1006, that’s over here as it curls back up. This I was sort of looking at this consolidation here as like a five minute set up as well for a long back over 160, or sorry 360, so I’m in at 360 adding for the break over the high … I think, or no, I guess I just got in at 60. Yeah, I guess I tried to get in, where’d I get in, 58 and 60. Had some orders that didn’t get filled, I sell at 63 and sell the rest at 44, so that was basically a breakeven trade. It popped up, made new highs and then came back down. So that’s a false breakout on the one minute chart. Whatever, that one didn’t really work.

Ended up taking one more trade on it a little bit later in at I think it was 88. Pops up to a high of 95 and then drops back down again, that ended up being like a breakeven trade. So traded it three times and really didn’t make much money on it. Whatever. $155.

In the middle there there was the OBLN trade. This one we traded on Friday, or maybe it was Thursday, did okay on, so I was kind of watching it. It had a little bit of a pop here and then it kind of squeezed up. I ended up taking a scalp right here for the break over at 41. It pops up to a high of 59 and what you had here on this that sort of I think helped fuel this spike was that there was a 10,000 share seller sitting on the ask at 41. Then as that seller got bought up 1090 at 7654321, that’s when I jumped in and that’s where we got that nice kind of squeeze. When you watch the level two and you see those big sellers and you see them getting eaten up you know the buyers are stepping up to the plate, you’re seeing the green on the time and sales, that’s where I jumped in.

Ends up topping out at 59, on that one I made $374. So in at let’s see, 40 and 41 as that seller was coming down. Then 45 and again, when you’ve got that long kind of period of flat top, that gave me the confidence that as it came up here it was going to break. Adding at 45, so 9,000 shares was a little big on the size, thought it would break nicely, didn’t really break as well as I thought, started piecing out of it. Not that exciting.

GM, on this one this is sort of a trade that’s a little bit outside of my typical, but, I’ll move this out of the way. GM was on the scans down here, it was squeezing up, I was watching this for a top reversal. It was a valid top reversal set up, you’ve two, four, six, eight, nine green candles in a row. I shorted the first candle as it broke and went red at 3725. You can see it came down here to 3704, which was nice, but I only made about 7 cents on it, I covered it pretty quickly on this drop. So small win there.

GME, I’ll take a peek at that. This one was on the scans, little reversal, bottom bounce. HUYA was on the scans for a top reversal, that ended up being nice here, but then recovering going back to the highs, double topping and then fading, which is not uncommon for them to do that. Which can be a little frustrating. Tiffany is on the scanner now. I don’t know about that one, but anyways, so a couple of little opportunities there. Then basically all of these trades were just kind of small profits, I was up like $800. Nothing huge, just a little bit here, a little bit there, a couple nice trades.

Then ATAI I see it on the scanner here it’s getting halted at $1.33. I looked at that and I was like okay, this thing is halted I look at it I see that it’s a gap down reversal set up. It gaps down six points, you know, almost, and then starts squeezing up. It was halted right here at $1.33, so my strategy on this was to buy coming out of the halt. I got in first at 41 and 43 and then scalped that for a small profit. Added back at 43, out at 46, 47, you know, this was kind of like a quick little scalp trade. Back in at 45, adding at 48, out at 55, 53. That’s me aggressively scalping in this area here, it pops up to 55, 60, 61, 65 and it gets halted. On that one I added at 65 going into the halt.

Now the stock is halted for another five minutes. It resumes and I take profit at 69 and 68, add back at 70 as it starts to curl up. It squeezes up selling at whatever, 77. Adding back at 87 and 88 here for the break up towards $2, it’s halted a third time. Pops up to a high of 95 when it resumes, I end up selling at 93 and 92 as I saw more selling than buying on the time and sales and felt like it was a good time to unwind. That gave me $1400 of profit being kind of aggressive, lots of trades on it. Lots of shares, 32 executions. None of them at this price range were big, like 15-20 cent winners, but lots of kind of small wins, which is fine.

Anyways, you know, green is good today, $2300, that’s a good step in the right direction, so that puts me back to green on the month. I’ve been kind of battling this line between being red and being green. So, 158th day of the year, plus $2303.99, so I’m going to put it in the calendar, make it official. Done trading for today. Class is going to be at noontime, so in about half an hour. Yes, all the classes are being recorded, we will upload them to the kind of online learning portal for all of our students. But we’ll be working on them, we’ve got to edit them, go through them, make sure they’re really good. So we’re not expecting they’ll be available for streaming until the end of September. It’s probably going to take about a month for us to go through all of them.

I’ve been recording three hours a day for the last 12, 13 days. We’ve got 36 or almost 40 hours of classes right now, which is awesome. It’s about 15 hours of the Warrior Starter and then about 30 hours so far of the day trade course. Today is going to be chapter 10, tomorrow chapter 11, Wednesday chapter 12. Chapters 13, 14 and 15 I’ve got to just take another peek at and see how we’re going to do those. So anyways, that’s coming up this week. Class starting in about half an hour, but yeah, I’m just glad to start the week with a green day. That feels good. It’s just a little bit of a choppy market still, but you know, green is good. Progress is being made, so that’s what it’s all about.

All right, we’ll be back at it first thing tomorrow morning. Watch list starting live on YouTube, 9:15 to 9:30. Trade when the bell rings at 9:30 up until 10:30-11:00 and then we’ll switch gears and go into midday recap and then live classes starting at noon. All right, so students I’ll see you guys in about 20 minutes and everyone else I’ll see you first thing tomorrow morning.

All right, bye everybody.

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