Warrior Trading Blog

Another Great Trading Day – Up $14,826!

great trading day

What’s up everyone? All right, finishing the morning here up $14,826. This has been an awesome week. Plus the 9,000 on Monday and the 600 yesterday, I’m looking at $25,000 or profit on the week, and just like that I’m up 44,000 on the month, 150,000 on the year, and up 482,000 in my account that I started January of 2017 with $583. Incredible. And I’m wearing red again today. Right here, right over my heart, and it’s bringing me good luck.

Another awesome day, and we’re going to break it down in today’s midday market recap.

What’s up everyone? All right, so we’re going to do our midday market recap here. $14,826.38 on two trades this morning straight off the watch list, and right out of the Warrior Pro course book on opening range break outs. So today, it was kind of a surprise that this gave us as big of a move as it did, because you just never know, but it ended up being a fantastic trade, and with that I’m up $44,000 on the month. This has been a great wee. 9,000 on Monday. 600 yesterday, and then 14,00 today. So $25,000 on the week, and that takes me to 44,000 on the month, 150,000 on the year. $482,000 in my account that I started with $583 about a year and three months ago.

So this was just another really solid day. You guys can go back and watch the watch list, if you want to re watch what I was thinking on Cali this morning. I’ll upload the live trade here in just a little bit to YouTube, so you can watch it there as well. We’ll break it down here in the midday recap.

So, Cali was on the watch list this morning gapping up, however, I was a little iffy on it, because it didn’t have a catalyst. It didn’t have news, and that was my main concern that without a headline it might not work. It might not even … it might just gap up and then roll over as soon as the bell rang. But I said that I liked the daily chart, it was opening up, and the resisting points that I was watching were at 4.70, 4.95, 5.38, and then from 5.38 we had a big window here all the way up to 6.88, and then up to 7.45.  So a couple of bigger windows on the daily chart once we got a little higher up.

So when you scroll back here you can see these are the levels I was marking on the daily chart. The first one at 4.70 right there. 4.95 was right here. 5.39 was actually right here, not 38, so 5.39. Whatever, it was close enough, 5.40’s fine.  And then we had 6.88 right here, up on this candle, and then, I’m sorry, 5.40 was right here, and then 6.88 was right up here. And then we had 7.45.

So those were the levels that I was watching. So this morning I said we’d keep it on watch, I wasn’t really sure. The bell rang and it … let’s see, we had a high there of five dollars, and in the first one minute candle … no, that’s a five minute sharp.

So in the first one minute candle, I was watching, and I said, “It looks kind of interesting here for a little scalp at 4.75. For a little scalp up to five dollars.”

And I was sort of, hesitated on it, and I didn’t take the trade. It tapped 5.06, and then it pulled back, and I thought, “Well, you know I guess I probably could’ve taken that with three, four, maybe five thousand shares, and made some money on it,” but I hesitated, and the spreads were kind of big. So I gave it a second to … that was in the first one minute.

And then in the second minute here, it squeezed up, and as it started to get buyers at 4.95, 4.98, $5.00, that’s where I said, “Okay, I’m jumping in.”

I bought, I tried to buy 7,500 shares at five dollars. I only filled 3,549. So I only filled half of my order. I then saw clearly that it was squeezing up, so I added 2,500 shares at 5.25, which gave me a 5.10 average. I then tried to add again at 5.64, and I got filled, I ended up filling at 561. Oh no, sorry. I tried to sell and then I changed my mind. I was like, “No, forget that. I’m holding, and I’m adding.”

Because this thing is actually showing some really serious strength. So I canceled the order and then I added here at 5.61. It squeezed up to a high of 5.85, and I tried to add at 5.88 thinking that it was going to squeeze into a circuit breaker halt. And what happens when stocks squeeze going up? They almost always open higher. So … and that’s exactly what happened. It was halted here, at a high of 5.85, and now I’m holding 8,500 shares with a cost basis of 5.25.

So I’m already up significantly, couple thousand bucks at least, and I’m thinking, “All right, this looks great, and I’m going to see where it resumes.”

It resumes and it squeezes up and hits a high of 7.44. Now it was halted from 9.32 until 9.47. So it’s like a 20 minute long halt, which, 25 minutes, which is much longer than we’re accustomed to, so I was a little bit nervous on that. You know I mean, the last time a stock was halted that long, it ended up opening a lot higher and being a really big winner. So I was like, “I’m nervous only in the sense that I have to just keep staring at the level two until it resumes, because it could resume at any moment, and I don’t want to be looking away or getting a drink, or whatever, and then come back, and it resumed and then dropped. And now I’m stuck again in a halt.”

So I just had to basically sit and stare at the computer. It finally resumes, and I’m like, “Okay, I’m going to do the right thing and try to sell.”

I tried to sell half at 7.10 on resumption right here, and it didn’t get filled. So when I didn’t get filled half of it by selling on the ask, I was like, “Okay, I got to switch gears. I got to reduce my risk, and I’m just going to sell half on the bid.”

So I sold half on the bid here at 6.68, which is 50 cents lower. So that cost me $2,000 by just selling it on the bid. However, if this had dropped to 6.50, and 6.40, it would have gotten halted going back down, and I don’t want to hold my full position getting halted going back down. I did that yesterday and I lost money, remember? So today I was like, “No, I’m going to sell half. I’m not going to get stuck in a halt going down.”

So I sell half at .68. I then sell another quarter, or sell a little bit more at 6.80, and I must have just canceled that order, it then pops up to 7.40. I tried to sell more. I don’t get filled, I sell a little bit at 7.33 and 6.81, and then at that point I start thinking, “You know what. Let’s just look at this on a 15 second chart.”

Again, I don’t use 15 second charts when I’m trading. I just use them in hindsight when I’m showing you guys kind of what I’m seeing inside a one minute candle. So it drops here, and it was kind of flirting with the 6.50 spot, which is what made me a little nervous. And then I said, “Okay, if it gets over 7.44 I might go back in there for a squeeze back over the high.”

And this is the same setup that I was waiting for on PRPO yesterday, except that in this red candle, it dropped enough that it got halted going down. And this was close, because from 7.40 to 6.50 is a substantial drop, that’s more than 10%. So it was really close there, but it didn’t get halted, because it didn’t stay that low. It bounced right back up, and that’s when I decided to add at 7.45.

So I added at 7.45, which yes, in hindsight, “Geez, Ross, you should’ve just held the whole thing,” but again, what if it had dropped here to 6.40 and then resumed at 5.60? Right? Because when they halt going down, they resume lower. I would have given all, back all that profit.

So I did the right thing and sold half, and scaled out. And then I added back at 7.45. It’s then halted. It squeezes to a high of … 7.51 it’s halted, and it resumes up here and taps 8.45. I put an order out to sell half at 8.84, just thinking kind of optimistic, like, “Hey, maybe it’ll resume and just pick up that order.”

It didn’t. It only got up to 8.45, and then it rolled over. So I sold at 8.01, and ended up seeling the rest at 7.64 as it dropped here. Again, I was afraid it was going to get halted going back down. It did do a little one minute micro pullback here again, and it tapped up to a high of 8.77, but then it did end up dropping and not being able to hold those levels. Which is not surprising, because this stock did not have news, but at the same time, these stocks can be exponentially strong, and these can simply be technical break outs.

So a technical break out is really just a strong daily chart that starts to open up, traders jump on it, they want to get a piece of the action, next thing you know it’s up 20-30%. More traders jump on, it’s up 40-50%. Does it have news? No. Is it logical? No, but the next thing you know it’s up 200% on the day. We’ve seen this again and again.

So yes, a lot of times these stocks will retrace a good portion of their move if not the whole thing. However, there are instances, like RKDA, where they continue higher. They go from 5 to 6 to 7 to 8, to 20 to 30 to 40 to 50, 60, 70. You know, and they just keep going higher. So you just never know, and that’s why I try to tell people, “Trade the chart. If the chart looks strong, if it’s bullish, if you’re seeing lots of buying on the time and sales on the level two, then you know, you’re going to have a long bias on it. And if that changed for whatever reason, then you sell.”

You can always get back in. Yes, a lot of times we are buying high and selling higher, but it works. And my $150,000 so far this year is proof of that. My 380,000 last year is proof of that. The 220,000 the year before is proof of that. This works. Over the long haul, this is a working strategy. It’s a viable strategy.

So, anyways, that’s is for me today. Two trades, and $14,826.38 of profit. So this month is really shaping up. Yes, last month was a little tricky for me.  I didn’t have any big wins like this, so I ended up losing some money last month, being down ten Grand, but $117,000 profit in January, 10,000 loss in February, and now I’m up 44,000 here in March, and we’ve still got, let’s see, one, two, three, four, five, six, seven days left. Seven trading days left in the month.

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