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Breaking $90k In Profits For December Trading Challenge Team!

trading challenge

Breaking $90k In Profits For December Trading Challenge Team!

All right everybody. We’ll break down the trades from this morning. You can see here on light speed, finishing the morning up $1,732.92. Not a bad morning at all. You know today, I didn’t know what kind of day we would have. I was planning on being aggressive today because we had such a great day yesterday. We’ve had a great week, but as soon as the bell rang, we sort of had like a false start. There wasn’t really a lot of clean momentum right out of the gates.

I decided to really slow down pretty quickly, rather than forcing myself to be aggressive even though the market seemed a little slow, I said, “No, I’m going to be mindful of how the market is today and I’m going to taper back my risk a little bit.” I reduced my risk, reduced my share size a bit, and finished the morning up $1,700. Which, you know what? That’s not bad at all. Right now we’re kind of going for consistency. If it’s not a day where I can be really aggressive, then it’s a day where I’ll focus on consistency.

You guys can see here our December trading challenge, which I forgot to update you guys on yesterday. I’ll scroll over here. You can see my trades here on the left. We’ve got Mike with a big trade on Ali Baba today, very nice. John on the leaderboard today, $1,100, not bad. Couple traders, we’re still waiting on them to update their profits, but the team is sitting up about $12,000 today and breaking over $90,000 in team profits so far this month. It’s definitely been a little bit of a tricky month. I think harder than last month for sure, but I’m sitting now with $39,000. Can’t really complain about that very much. I mean, that’s a solid month.

All right, so let’s look at today’s trades. Now, this morning we’ll go back up to the top. SMIT was actually the first stock I was watching this morning. You can see here, I have a couple trades on it, up $578, but it was not an easy one. Right here you see the pre-market high was $4.47. Then the bell rang, it popped up to $4.37 and dropped all the way down to $3.68. It just didn’t hold that level at all. It dropped down, and then it started to curl back up and squeeze through the highs.

The place that I got in it was on this little one minute pullback right here. I got in this at $4.30 with 5,000 shares, and I sold at $4.45, $4.45 and $4.31. A quick $578 profit, and you know, that was really the best I could do on this one. Right out of the gates through this section in the one minute chart, it was juts very choppy. We didn’t see good follow through. I just didn’t see any good opportunities there and I just sat and waited, and then the best opportunity I saw was this little one minute pullback. Obviously, it ended up being a false breakout. We tapped 47, double tapping on pre-market highs, and then rolled over. I was at least able to capture profit on it.

Now, the other stock that was on the gap scanner this morning was AEY. AEY was one that I wasn’t looking at too closely because it’s sort of on the cheaper side at $1.80, but as soon as the bell rang this thing started to squeeze up. It hit the scanners, it was moving up very quickly, and so I jumped in at $1.96. Now, if I scroll up here, you’ll see that I was, buy 25 shares, confirm, rejected, confirm, rejected, confirm, rejected. I was getting my orders rejected and I don’t know why.

I ended up getting filled at 10:37. Partial fills, I kept trying to add and I kept getting these errors. I don’t really know what the deal was. Oh sorry, this was actually, this was a different stock. It’s not showing me for some reason my errors, but I was having errors on AEY where I was trying to add, I was trying to get full size, and it just wasn’t letting me. I don’t know what the issue was. Ended up hitting a high of $2.33 and then pulling back, so I stopped out of that at $2.06. Not very exciting there. Total profit $474, so a small win.

The next trade was Grow, and I was a little bit cautious on Grow because I had lost money on this one a couple of weeks ago back in this sort of area, and I’m trying not to have a bias that just because I lose money on a stock at one point, I mean, it doesn’t mean it’s not worth trading again in the future. I saw it pulling back, it made this big move from $5.60 all the way up to $6.20. It pulls back right here. I get in for the break over six. I’m long at $6 with 2,500 shares. It hits $6.10. I put in an order to sell at $6.09, it doesn’t fill. I end up selling on the bid at $6.04, $6.03, and $6.02 for $80 profit, a very small win. Nothing very exciting there.

Then of course you see the SMIT trade, and then the last trade was SIEB. Now, this was sort of a surprise trade in the middle of kind of the late morning, around 10:30, all of a sudden this stock breaks over the view app, it squeezes up, and it gets halted. I saw some of you guys were able to get into it in the $8.40-8.50 range. This thin went from $7 all the way up to a high of $11.33. That was very impressive, so on that one I thought it squeezed up here at $8.71. I didn’t get in it. I waited for it to resume on the halt. It resumed and squeezed straight to $9.90 and it was halted a second time.

Then it resumes and squeezes straight to $11.33. I said, “I can’t get in it after this halt, but I’ll wait for the pullback.” It pulled back, I got in at $9.90 and was selling at $11.08. It popped up that quickly. I then added back at $10.57 for the second break over $11. It didn’t work and I stopped out at $10. I lost $570. Now I was up only $200 on the name. Let’s see, my third trade on it, I got back in at $11. I was looking for the break and the retest of high of day. We tapped 30. I sold half at 29, tried to sell more, and I stopped out of the rest of it at $10.65. That ended up actually not even being a winner. I lost another $150 on that. At that point, I was up only $66 on the day. There was news on this one this morning, yeah, there was a headline.

Then I ended up getting back in it and my entry was $10.40. I got in for the first five minute candle to make a new high, anticipating the break of $10.60. I got in here and it popped up to $11.30. On that I sold at $10.99, $10.95. Tried to sell at $11.19, no fill, and sold the rest at $10.87. I made about $550. I’m up $600 on that name, $578 on SMIT, $474 on AEY, and $80 on Grow. Not bad at all. Not very exciting, I mean, it was kind of a slow day. A little bit choppy and I had one bigger loss on SIEB, but aside from that, it was just sort of a decent little morning. Got a couple scalps, and this puts me up somewhere in the $25,000 – 26,000 range on the week, which is an awesome week. I mean, really, obviously can’t complain about being up that much on a week.

OHGI, I see this one squeezing up a bit from $1.43 up to $2.26. I’m glad to see some afternoon momentum, because this morning things definitely seemed choppy. We saw, obviously SMIT was choppy. CUR was on the list. This one was also choppy today, kind of popping up and dropping back down. AMPE, this one ended up being a little better than I expected. Nice break over $2.40 and squeezing up to $2.80.

It was just not the easiest day. It felt a little choppy. I kept my share size on the smaller side. Was able to grab $1,700 and what I’m trying to do right now is close the gap between me and $300,000 of profit. I’m at $289,000 right now. I’ve got $11,000, or $10,800 to go. The only way I’m going to get there between now and the end of the year is slow and steady. $1,700, $1,500. If I end up getting a $3,000, $4,000, $5,000 winner, that’s awesome, but I can’t risk having a $3,000 or $4,000 or $5,000 loser. That’s the thing. I need to keep the small wins slow and steady and get myself up over $300,000.

When I break $300,000, let’s see, this account will have to be breaking over $230,000. $230,000 is what we need to see this break. I guess I’m, whatever, $12,000 or so away, somewhere around there. We’ll see where this opens tomorrow. It will be around $18,000, so I guess it’s a little further, maybe $12,000. You know, I’m going to try to do it, that’s the goal.

I don’t want to have a big red day so I’m not going to try to swing for the fences, but I think I can do it. We’ve got basically two weeks left, so hopefully we’ll see some good opportunities here and I’ll be able to get myself up over $230,000 here and then plus the $70,000 I took out earlier in the year will put me up over $300,000 after commissions on this account that started with $583 on January 1st. That would be a really exciting achievement.

Anyways, that’s the goal, and that’s pretty much it for me today. You know, a little bit choppy, and we’ll see what the market looks like for us tomorrow, on Friday. It might be a little choppy again, but seeing that we have some afternoon momentum on OHGI and CLNT, you know, maybe there will be some opportunities tomorrow morning. All right, so we’ll see what we can do. For now, let you guys enjoy the afternoon and I’ll see you all back here first thing tomorrow morning. All right, I’ll see you guys in the morning.

Oh, hey. I didn’t see you there. I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.