Warrior Trading Blog

Another Green Day in California! +$1,614! | Ross’ Trade Recap

What’s up everyone? All right, finishing another green day here from California up $1,614.96, I’m happy with that, making progress in the account. I’m not swinging for the fences or being super aggressive. Usually when I’ve got my traveling trading station and I’m trading in hotel Wifi, I bring it down a couple notches because the last thing I want to do is have, you know, just a big mistake.

 

Taking it a little easy, making money. Green is good, thousand dollars a day that keeps the job away. I’ll be doing it first thing again tomorrow morning, 9, 9:15 pre-market analysis. Any questions, any comments, leave them below. I’ll come through and answer them later this afternoon and I’ll see you guys first thing tomorrow morning. All right everyone. We’re going to do our midday market recap. What time is it? 7:30 Pacific time. Sounds really like barely up but, now I’m ready to start the day. That’s the cool thing about trading from the West Coast.

You’re basically done trading at 7, 8:00 AM, and then you can either go to your regular job or I don’t know, go back to sleep or start the day really early. Anyways, finished this morning up 1,600. Let’s see, let me switch this around. Actually it’s easier. Finished the morning up $1,614.96. Another green day. Two stocks I traded FFHL, LMFA, so that’s my P&L in those two trades. I’ll move this over to the other screen here. All right, so let’s see. There you go. All right, I’ll put this here so we can go over the charts. All right, so you can see the total shares I traded on both of them. That’s including buying and selling, so it’s total, but yeah, 1,600 bucks. Another green day. Where’s my calendar? Make it official. All right, so 1,200 yesterday. $1,614.96 today, 188th day of the year. It’s going to put me up, let’s see, I made 15,000 the first week of the month, 2,500 last week, so 17,500 plus I’m up about 3,000 this week.

Getting close to or maybe just over $20,000 on the month with a good basically two weeks left in the month. Halfway, basically halfway through the month 20,000 bucks. Not bad. I mean, you know, this is good for me. This is kind of 40,000 a month is I guess about where I’m averaging. I can pull up my P&L and see where I’m at on the year here in just one second. Just going to balance that like that for a second. Let’s see. Yes, I did use a hot key when I had my small account for buying based on a percentage of buying power. I was actually buying based on using 90% of my buying power. I was being quite aggressive but yeah, shift one instead of right now being 3,000 shares was 95% of my buying power. Jumped in and took big size there. What is going on with this? There it goes. My computer’s running a little slowly right now. So anyways, I’m probably sitting around actually just around $400,000 on the year as of today, something at least close to that, maybe 390. On the 10th month averaging about 40,000 a month. If I can do finish around 40,000 this month, that’d be good, 40,000 in November, 40,000 in December.

That puts me around half a million on the year. I had a goal of about 650,000 this year, so I’m coming up a little shy of that goal but that was definitely an aggressive goal. I knew it was but at the same time if we have a couple months of really good trading in November and December, then I might actually be able to finish off right at that goal. I mean, you just, you never know. Last year I made $80,000 in November and then I made 85,000 in December, so I ended up killing it. One $40,000 a day, and that’s going to definitely put a big dent in my goal. Let’s see. All right, so let’s go down through how I found these stocks today. All right, so pull up the gap scanner here. I’m going to go to timeframe historical. I’ll set this scanner for 9:24 AM. Sure, that’s fine. All right, this is what I do every single morning. Same thing. Today was no different. I use the scanner to search for all of the stocks in the entire stock market that are going to be opening higher. The only reason a stock opens higher than it closed the previous day is because of some type of catalyst.

FLKS opening or looking to open 45% higher, which is a pretty big move. FFHL looking to open 33% higher, which is also a pretty big move. MTGX 22%. This one for me is out of my price range. I prefer below $10, so no trades on that one. This one too close to my limit so no trades on that one. Same with that one. GNMX, this one only had 100 shares of volume pre-market, so not interested in that. NDRA was maybe ears. This one was kind of continuation from yesterday and it wasn’t really easy yesterday. These ones not too interesting, not too interesting. LMFA, this was a reverse split, so I ended up taking a trade on that one and I’ll show you in a second. All right. Let’s see. Hey, that’s a good idea. Jeff says, I’ve already broken half a million if I convert it to Canadian dollars. He is thinking. That’s brilliant. I’ve already crossed a million dollars if I change it to Canadian dollars. All right, let’s see. FFHL, this was our first one. Okay.

This one I actually, I didn’t have high expectations for FFHL. I really didn’t. It’s been on the scanner a bunch of times and it kind of gaps up and fades, gaps up and fades and I don’t know. I just haven’t really had a lot of success with it. I see it on the scanner. It’s got a pre-market high of right around 2.30. It pops up just before the bell and this popping up here just before the bell was a good indicator of possible strength. The headline on it. Okay. So what’s the catalyst driving the stock higher? Headlines, 30% increase in polyester film order from major customer. Being in the polyester film business I mean it’s thrilling. It’s exciting. It’s every day’s a new day. It’s incredible line of work. This company, big new headline up 30% or 30% increase in this order. All right, bell rings and you know, all of a sudden this thing just takes off.

It squeezes from $2.10 all the way up to three bucks. I mean, it goes up 50% percent right out of the gates. On this one, the problem is that it happened so fast that I tried to jump in it. Let me reverse these orders. I tried to get in, but I only filled 3,000 shares at 2.50. I already felt at 2.50 that I was chasing it a little bit. I was like, I don’t know. I jumped in at 2.50. I sell some at 2.60, 2.59, I add back at 2.66. I sell at 2.70. Order rejected because I accidentally tried to short. Well, I put out too many sell orders. Added back at 2.90, sold at 2.99. You see, I’m scalping it, and the reason I had to do that is because getting in even at 2.50 was buying it pretty high. Those of you watching on, let’s see, on Facebook. Those of you watching on Facebook, if you want to watch the full recap, I’ll upload it to YouTube later this afternoon. Just in the description, go check out the YouTube channel and you’ll be able to see my full screen share during the recap.

Anyways, these are my orders down here so I’m getting in, getting out but like I said, the problem with buying at 2.50 is that I was already buying something pretty extended and so the risk on that is I get in at 2.50 and it drops right back down to 2.30. As soon as I made it 2.50, I need to be flipping out, taking a little bit of profit, building a little bit of a cushion, which I did. Then it shows continued strength so I add back a little bit at 2.60. It’s continuing to be strong, scalp it, sell it, get back in 2.90, selling at three so trying to book profits on it but I just never got myself into a position where I could take a really big share size. That’s a little bit of a bummer. I had one loser on it, lost about 700 bucks, 3,000 shares from 3.20, stopped out backed down at three. That was on this red candle here at 9:37. I was up, I don’t know, 1,500 bucks on it, lost 600, 700 and then I got back in it as it squeezed up here and was able to make back those losses, some of them, not all of them.

I was up at my most about $1,900 today and I’m finishing up 1,600, down 300 off of my highs, but you know, green is still good. That was FFHL. We traded it during the open. That was the time it was the cleanest, made the biggest moves and now it’s just kind of going sideways. We did a good job there. That was a solid, solid trade. All right, next one was LMFA, LMFA on the scanners are pre-market as a gapping stock. This one did a reverse split and we had to reverse split yesterday on GLBS. What we know about reverse splits is that they happen pretty frequently several times a month. We see reverse splits at least once a week we see usually a decent one. This week we’ve had two and sometimes they get clustered together for whatever reason, but in any case, the stock was trading at 55 cents yesterday and today is trading all of a sudden at $5. How’s that happen? Well, the company does a reverse split. If you were holding 10,000 shares yesterday at 55 cents, today when you woke up, you look at your account and you’d be holding only a thousand shares at $5.50.

Your amount of money in the trade is not changed but your share size and the price has. What this does is it now puts the stock at a price that’s more interesting to retail traders. $5 is much more interesting than 50 cents, that’s number one. Number two, the float is now lower by the multiple of the reverse split, whatever the reverse split was. The float has gone from on this one actually, let’s see, the float went from three million shares down to like 300,000 potentially. I mean it’s a tiny float now. The bell rings and it promptly squeezes up and gets halted immediately. I didn’t even have a chance to get in. I mean this thing just squeezes up from six all the way to 7.20 and it’s halted. I look at it and I’m like, all right, well, what am I going to do? I can’t get into that. I wait for it to resume. It resumes and I buy it at 7.50 and 7.90 and sell it at 7.95 and 7.88. Ends up dropping back down to 6.30.

I was up about 900 bucks on it and then I sold the rest as it came back down, made only $575. But you know what, it’s another green trade and what I always say is, you’re either going to leave money on the table because you sell it too soon or are you going to give back a little bit of your profit because you hold it too long. You can never be 100% perfect. You got to just let that go. Right now I’m walking away with $1,600 that I didn’t have an hour and a half ago. Green is good. It’s another day of progress growing the account. Now I’ve got my Excel doc loaded here. Let’s see where the account is sitting. All right. I am sitting right now at $393,000 on the year, which is great. That’s been a pretty good year for me. Best year so far that I’ve had in my career as a trader, 393,000 in profit this year and I’m sitting at $727,000 in the account that started with 583 bucks about, well, it was in January 1st 2017.

I don’t know how many months that is, 12 months plus 10. In the last 22 months I’ve taken $583 and turned it into $727,000, which has been good. I mean, obviously it’s been a pretty impressive streak. My goal is still a million bucks. I was hoping to cross that line at the end of this year but I am $272,000 shy of that line. I’m not really expecting to make $272,000 in the next two months. That would be nice but I’m not going to set that as my expectation. My only goal is that I’ll continue to be consistent, be green and be emotionally grounded. Sometimes when you set really lofty goals for yourself, you can kind of become emotionally entangled with that goal where you start getting so frustrated that you’re not crossing that line at the time you thought you wanted to that you start making emotional mistakes and stuff like that. That’s obviously not good.

Like you said, this is a marathon. It’s not a race, it’s not a sprint, you know, sure, it’d be nice to cross over that finish line, but not at the risk of doing something devastating or whatever. I mean, you got to pace yourself. All of us are doing this for the long haul. We’re not doing this just to make, “I just want to make $100,000 and then I’m done.” No one comes into day trading to do that. You come into day trading because you want to be able to consistently make a couple of hundred dollars a day for the rest of your life potentially. That’s what I want to do. I want to be able to make 500,000, $2,000 a day, whatever it is for as long as I can. I mean, there’s no reason it can’t be doing this for the next 10 years. I mean, there are traders that have been actively trading since the nineties that have been actively doing this for 30 years just about. There’s no reason to think that you couldn’t be doing this for another 30 years. There of course will be changes in the market. That’s true with any career.

There’s going to be changes. You adapt to it. 5 Cent Tick Pilot Program, we had to adapt to it for a period of time and then it came back. That’s fine. I mean, there will be things like that that you adapt to technological changes, routing changes, platform changes, but your basic skill of knowing what’s the type of stock that’s worth watching, where’s the right place to get in, that will carry you through all of those little changes. Anyways, finishing up here. Sun is coming up a little bit more. Let’s see, it’s looking pretty nice. Looks like it’ll be a warm day probably in the 80s, 70s at least. Old railroad station across the way. Green is good. I’ll be back at it first thing tomorrow morning. Oh hey, I didn’t see you there. Well, I was just working on the dream board for my next home run trade. Hopefully it come soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.