Warrior Trading Blog

Back On The Horse! +$917.66

Back On The Horse! +$917.66

All right, everyone, so we’re going to do a midday market recap. I said we would do it earlier today because I didn’t want to trade past the first hour, so back on the horse here today. You know, just like always. You guys have seen me go through huge ups and downs, and so red day yesterday, but today came back at it. You know? Kind of just cleared my mind and said, “Well, I’m not going to try to make back everything I lost yesterday.” How many times have I had a good size loss, whether it’s 5 thousand or 7 thousand or 10 or 15 thousand or even if it’s $15 thousand over the course of two or three red days or four red days?

Dig that hole and then when you’re in the bottom of it looking up, you’re thinking, “Oh, god. I got to do it again. I got to get myself back out of the hole and make my way back to green,” and the only way to do it is one trade at a time. You can’t try to think, “Oh, I got to look for that trade where I can make the entire amount back in that one trade” because when you do that, you start swinging for the fences, you start not taking the profit when you have profit, and it takes one home run to do it, but you might strike out nine more times, and during that period the loss gets bigger and bigger and bigger.

Now you’ve got a hole that much bigger to dig yourself out of, so you have to be able to press the reset button and say, “All right, my goal today is just to close the day green and just to take one small step back up.” For me, here in November I made $100 thousand, which was a incredible two and a half week push and then I gave back 19,000 over the course of like four days. A red day, a couple of green days, and then another red day, so if each step up is $20 thousand, I took five steps up and one step back. Now it’s time for me to kind of make my way back up, so today I’m in the green, $917 and that’s a good step back up. I was up about 18 hundred bucks today and gave back a little bit, and so I decided better to throw in the towel and be green than to push it.

We can look at the trades from today overall. Not a bad day. Best Trade was my first trade right out of the gates on A-P-E-N. A-P-E-N was the stock gapping up the most today in the entire stock market. And so I saw we had a nice pre-market high of 595. And I said, “It looks good over the pre-market pivot of 580.” So the bell rings and I’m jumping in. 5 thousand shares at 576 and 580. Now you guys are probably familiar with the fact that in the last couple weeks, this would normally be a 10 thousand share position. But today I said, “Let’s just bring it back a little bit.”

First trade right out of the gates, start with 5 thousand shares, and hey, if we end up seeing an amazing market, then I can scale up the size, but I don’t want to start with 10 thousand shares, lose 30 cents, and be down three grand, and now feel like … Usually it’s my first or second trades that are the biggest winners. So when my first or second trades are losers, it all of the sudden casts a shadow over the day and the odds of me making back a really big loss that I took on the first trade in trade two, three, and four, the odds aren’t great. It can happen, but they’re not great.

So I start with small size long right here for the break of the pre-market pivot. We pop up to a high of 625. Not bad. I’m selling half at 598. A quarter more at 605, and I tried to sell at 625, I didn’t get filled I guess, sold the rest at 602. Then I got back in. We had this little pull back. One minute micro pull back. And I added over that candle back in at 95 and $6. We pop up to a high of 612. I end up selling some of it flat and … Actually I guess I sold most of it kind of breakeven. It just didn’t end up being the best trade there because as you can see, we dipped back down to a low of 89.

And I said, “I got to keep my stops tight so I’m getting out. I can always get back in.” And I did get back in. I got back in at 6 and 605 and then sold that on the move up to 615, 619, and the best at 636. High of day was 645. So not bad there at all. So on those trades, I think I made around $15 hundred or so, right around 15 hundred bucks, 16 hundred bucks, which is a great start to the day, I was very happy with that. Next trade was on RADA, R-A-D-A. We’ve traded this one a bunch of times. Pre-market high was 360. I jumped in as you can see here at 338 as it started to pop up. We tapped 352. I sold at 342 and 347. A little bit at 352 and then stopped out the rest at 342.

Ended up only being $285. Again, 5 thousand shares, but green is good. So building up that cushion. Next trade was C-C-C-L. This one hits our scanners and being a China stock that’s made some big moves in the past I jumped in it fairly quickly at 227. But I only got a partial fill, 16 hundred shares of my 5 thousand share order. I decided to add at 220 … Or sorry, 250. Tried to sell at 257, 253, no fill. And then ended up selling at 244 and eventually at 230 for a $391 dollar loss. So first loss of the day. When you look at this chart, it popped up and came all the way back down. It did not hold that level. That made me a little uneasy.

Next trade was CREG. This one I jumped into at the half dollar as it was squeezing up right in this area. Long at 48 and 49. Selling partial at 62, 55, and 56. So a small winner there. I ended up getting back into CREG a little bit later as it pops up here, and I stopped out of that with a small loss, $400 loss. So I went from up 300 bucks on the name, or 200 bucks on the name, to down 150. Not a big deal. It was worth the stab. So CREG was my second loss of the day. And in between that I took a trade on P-Z-R-X. This was a stock that hit our scanners, started squeezing up from 70 cents all the way to a $1.60. I only was able to capture $200 of profit on it.

I found that it was a little bit choppy and I traded with smaller size. So biggest position today was only 5 thousand shares. Biggest position yesterday was 12,500 I think, so definitely scaling back position sizes today. But I would have been willing to be more aggressive if the market happened to have been stronger today. So one of things I said is that today and … Well, that today is not my first day of rehab, but it’s my first day of training. And so what I’m going to do for the next, for the foreseeable future, is I’m going to train. I’m going to try to be really good at keeping tight stops, taking share size appropriate to the current market of the day.

So on one day, 10 thousand shares might make sense, whereas on the next day, if we’re seeing choppy price action that we were seeing today, I got to scale it back. And I need to be able to be faster to adjust and adapt to the market because that will help me scale up my winners on days where the market’s strong, and also scale back my losers on days when the market is choppy. So that’s really my goal is just to exercise that kind of discipline, the ability, number one to say, “Well, even though I might like to make $5 thousand today, the market’s a little bit slow, and so I’m going to reduce my size, reduce my risk exposure, and be happy if I only make 500 to a thousand dollars.”

On a day when the market’s really hot, that’s when I’ll amp up the share size, but continue to maintain those tight stops, because one of the problems yesterday and the day before … Well really the past few days, is that I’ve let my stops go way too far. So I’ve held these stocks down 60 cents or a dollar per share, which is ridiculous. I mean yes, we’re in a market right now with a lot of volatility, but I can’t hold the losers that long. That’s just silly. I need to get more disciplined with keeping tight stops. It’s easy to get kind of complacent because you’re like, “Ah well, you know, I’ve made a bunch of money, I can afford to hold this.”

But you’re not going to keep your money if you keep doing that. So have to tighten up the stops. So I did that today. My biggest loss was a 23 cent loss with 25 hundred shares. So $575. My other loss was 8 cents. The other one was 10 cents. So average losers today in terms of cents per share, 14 cents. Average winners today, only 6 cents, and that’s mostly because I kept getting into things and getting out flat, or getting out with only one or two cents because they just didn’t really open up. Biggest winner was only 21 cents per share. So just looking at those metrics, that tells me that the market today, I was getting into stuff and we weren’t seeing the stocks really open up and make big moves.

We were just kind of seeing resistance, and then opportunity to get out flat or go into the red. And today I took the opportunity to get out flat. So despite the fact that my average losers were bigger than my average winners, my accuracy today was 71%. So as we know, 71%, even with a negative profit loss ratio, you’re still profitable and that is the case today. Up $917. So a little bit below my daily goal, but green is good. I’m happy with that and it just kind of gets me back on the horse, back into the swing of things, and tomorrow will be a new day.

So anyways, today is the 215th day of the year and finishing up $917.66. Now we’ve been working on our November 100K Challenge, so let’s pull up the stats for that and check in and see where everyone’s at. All right, so let me get my Google Doc here for the 100K Challenge. So the goal for November was that alongside with 10 traders, or 10 traders total, we would have this goal of making $100 thousand in combined profits. So let’s see. All right, I’m going to scroll down here. So pathetic day for me yesterday, 917 … Oops, 917.66. I am the biggest winner and the biggest loser of the month. Not surprising. 86 thousand for me right now. We’re at 202 thousand. So we had let’s see, a good day today for John, good day yesterday for him.

He’s been very disciplined. 51 thousand is fantastic. Really an awesome, awesome day. So you can see where everyone’s at right now. It’s been a really, just an absolutely fantastic month. We’ve far exceeded the $100 thousand challenge sitting at 200 thousand right now, and we’ll see where we finish the month. We’ve got two more … Well three more days. No, sorry, two more days. We’ve got Wednesday and Thursday, and then Friday will be December 1st. So we’ll see what we can do here over the next two days. My biggest winner, $40 thousand, best day. Worst day is 15 thousand in the red.

So if we look at that in multiples, not just … Let’s see, [inaudible 00:12:38] equal sum. Let me close this. Equal sum. I think that’ll give it. So yeah, so that’s 2.62. I’m going to say times minus one to make it positive. All right, so that’s my ratio on the red day to the green day. Mike’s is really fantastic. 6.5. his red day of 900 versus the best day of 5 thousand. Jeff is about even, one to one on worst day to best day. Roberto is three. Fantastic for John. Worst day’s only $700. Sam, not bad. Several of these guys closer to flat, but … So profit, I’ll just say P-L ratio and we’ll change this to just one decimal point so it looks a little bit better.

How we format font, number. I can’t remember how to do … Oh, I guess that does it. Okay, so yeah, so there we go. Interesting across the board. Right now John is for sure the MVP on the team. Just amazing consistency this month. Really fantastic. And I guess Mike is in second place, and I’m in like fourth place on that. But you know, at the end of the day, right now we’re all sitting green on the month.

So that’s a really great accomplishment for the 10 of us and I’m looking forward to doing something similar again in December. So I’ll talk about that in a moment just to traders in the chatroom. But for everyone watching on Facebook and YouTube Live, I hope you guys have had a good morning and made some money this morning on either the trades off our watch list or other trades, other stocks you were watching. And feel free to leave questions or comments below. We’ll come back and answer all of them, and I will see you all first thing tomorrow morning back here in the chatroom. All right, bye everybody.

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