Warrior Trading Blog

Day 50 of the $100k Challenge +$2,042.40 | Ep #54

green day

Day 50 of the $100k Challenge +$2,042.40 | Ep #54

All right guys, well, thank goodness the cold streak has ended. Today is my first green day after four red consecutive days, and it’s thanks to monument in the shipper sector. We had strong momentum on Tops. TOPS on SINO and GLBS and DCIX. I didn’t trade the last two because I kind of missed good entries, or felt the spreads were too big, but I did get some trades on SINO and TOPS and I’m finishing the day up two thousand and forty two dollars.

So, green is good. Obviously this is, you know, gets me, you know I mean, I’m down fourteen thousand dollars from my high, so this is, you know, takes two thousand dollars out of that, so down twelve thousand now.

But this if you picture it is kind of that apex point hopefully in the flag, where I surged up to a hundred grand and then I pulled back four day down to my nine moving average. Today is the first day to make a new high. Hopefully I’ll just keep grinding back up to a hundred, but, you know we’ll see what the market is willing to give us again tomorrow.

Now today I came into the market with a very different attitude than I had yesterday. Today I want trying to be aggressive and get a big win, I was saying “I’ll probably only trade twenty five hundred shares or maybe five thousand at most.”

Because I haven’t been doing very well the past couple days. So I’ll just kinda test the water and see, you know, what’s out here and what’s taking, if there’s anything looking good. And then next thing you know I’m in with ten thousand shares of SINO. But at the same time it was because we saw shippers running, it’s because we saw the momentum and they knew it was a good set up, and it was a better set up than any we’ve seen in the past few days.

So, now the trade on SINO, I’ll show you guys who are watching on Facebook, so there’s the PNL for today over on stock twits . Here it is on my live trading account, and this is the TOPS chart. So the TOPS today, you know, out of no where surged up one hundred percent! I mean just completely out of no where. Why did it happen today and not yesterday, you can see on the daily chart for whatever reasons today was the day it got some action. Squeezed from a dollar twelve to two dollars and fifty cents. Now, right now we are coming up towards two forties again.

So, there were a couple opportunities on this one and I sorta missed probably the best opportunity, which was this flag right here. This consolidation at the nine moving average. But I got in on, let’s see, I took a couple trades. The first trade I took on it was, let’s see, I gotta go back here and look at my trades. So, the first trade on it was at one eighty six, and I sold that one, let’s see, for a twelve dollar profit. So I got in, it didn’t work, I got right back out.

And then I got in again at two thirty one, which was on this red candle. It popped up to two thirty five, it couldn’t hold those levels, and so I stopped out of that with a two hundred dollar loss. And then I got back in at two forty, right here at the break of the first five minute candle to make a new high, which is what I thought was gonna happen when I got in at two thirty five, but I got into forty.

We popped up to a high of two forty nine and then one of the things I showed on my stock twits feed was a sixty thousand share seller sitting at two fifty. And that guy was holding us back and when I saw that I bailed out at two forty, two forty four. So stopped out, but with profit so it got me up a hundred and ninety four dollars on the name.

Now when I got in SINO, I got in it because TOPS was already running. So, you know, TOPS was showing strength and I was like “all right, I’ll jump in this one.” What I like about SINO, when I saw it hitting the scanners was the fact the daily chart had all of this room up to that line at three seventy five, above three seventy five to four twenty seven.

So I knew this one had a lot of potential, it was above it’s moving averages. So I jumped in at two ninety two, as it was spiking up and we got the spike up to a high of three seventeen, three nineteen. I was waiting for it to break over three twenty, and then on that one we had a ten thousand share bid sitting at three ten, and when we came back down the first gamble to make the new low I just stopped out. So I stopped out of it, took the profit and you know what that was absolutely the right thing to do, in that particular case. So I took my two thousand dollars, twenty one hundred got out of the trade, booked the profit and that really out me on the map.

Now I was also watching GLBS, but I was a little concerned on this one for a couple reasons. Number one, it was running into its moving averages as it was coming back up and I thought that would be a problem. Number two, the spreads were pretty big and the volume was pretty light. So even during this consolidation here, before it broke over five fifty, I mean there was less than like four hundred thousand shares of volume. And so it had these like fifteen twenty cent spreads and I thought “Yeah it looks interesting, but I don’t know.”

Next thing you know it goes, you know, from five fifty, five sixty up to seven fifty. So it was a great set up it was just a little light on volume. I didn’t feel comfortable on it, the daily I was a little iffy on, so I played it safe and, you know, missed out on a trade there. But today is the day where I’m getting kind of back in the drivers seat, back in the green. And its one hundred percent thanks to momentum in the shipping sector. You know, those four or five stocks getting some real action.

So, you know, it’s something we haven’t seen in the past couple days. Now really I don’t want to, I mean hopefully tomorrow we have something more substantial like a catalyst, that drives the stock higher. That may or may not happen, I don’t know, but you know, as we get in towards the end of the week, I know that I, statistically I have not been doing well on Fridays, so I do have to be especially cautious.

Now to look for a second at some of the trades, students have been taking in the simulators, so let’s see. I was looking just earlier today, at the trading simulator and noticing some of the profits students have. So here’s a student Michael who’s up twenty six hundred bucks today. The stocks he’s traded, DPW, JNUG, CERU, MCRB, and TOPS. So MCRB is interesting because TOPS is obviously, MCBRU are both in play, but MCRB is one that we were watching a little bit earlier today, let me pull up the chart on this one.

So this one, let’s see, MCRB ran in the morning nine, ten dollars all the way up to twelve forty five, it was really strong, and then that first pull back got bought up. My concern on this one was that the spreads were a little bigger. Right now you’ve got a seven cent spread which is actually pretty tight, but earlier today it was like a twenty, thirty cent spread and I felt like “you know what, it looks interesting, like it, but this is one I think I could really get into trouble with if I take two thousand or three thousand shares.” And I sort of gotten into this mentality that if I cannot take sides then its almost not worth the trade.

Which is sort one of the things I was mentioning pre market, when I was going over my watch list. In the last few weeks my green days have not been less than two thousand dollars. I mean they’ve been between two thousand and eight thousand dollars, that’s a green day for me. So, I’m gonna make that kind of money by taking five to ten thousand or even fifteen thousand shares.

I’m not gonna make that kind of money taking twenty five hundred shares or taking a thousand, or taking five hundred. So if I see a stock like MCRB and like “Well I can probably only take five hundred shares of it.” Its probably not worth it. And I said today that I was gonna try and change that perspective a little bit and be willing to take smaller size, just to sort of get myself back into the grove and try to break this red streak that I’ve been on. But that one was not one that I felt comfortable taking.

SINO I would have totally felt comfortable just having twenty five hundred shares, or five thousand, because I still could have made like five hundred bucks or a thousand, but then it ended up being one that I felt good enough to go heavier on. So, I think that’s kinda been the thing with my trades in the last, even the last four day of this red streak, that because I’ve been in this sort of habit of being really aggressive. I’ve had just some huge green days, you know, just ridiculous. But, when it’s going the wrong way I’ve just had the big red days.

So, trying to kind of taper that back into more consistent strategy, or less, maybe more conservative share sizes been tricky. All right so that was Michael you see, Andy here his trades today looks like a couple that he’s still holding, traded, lets see, AMD, ROCKS, DGAZ, a little bit of a different strategy here from what I usually trade. But its definitely put him on the map.

Steve, WRD, MCRB, nine hundred bucks each. You know it shows that you don’t have to trade ten different stocks to make really good money. Today I traded two stocks. Rall here traded CERU, SINO, and TOPS. So he had three stocks that he traded in and you know he kept it simple. He’s not over trading, you know, get in get out, book your profit move on to the next one.

We can see Robert here, he’s got a couple different stocks that he traded today. And you know he’s got a little bit of red on there, a couple red trades, but they are small losses and he’s got one big winner on MOMO, which is good. So, you know its kind of interesting to look and see what some of these traders are doing, who are having some good days. A lot of them trading the shippers, trying to capitalize on that opportunity that presented itself today. But you can see some of them were trading CERU which was follow through from yesterday.

ADPT and IMML, those were in play today. In contrast we can look at some of the students who lost money today, let’s see. Kinda see what they were doing, and you know, some of these guys, these are AMD and JNUG so he’s trading gold, which is a sort of really tough one to trade. You have to really understand how commodities trade. Higher price here on ENDP, NRG, GOPRO, MT, so he’s trading some different stuff there.

Let’s see, Ivan, CERU, now interesting here, he’s trading the same stocks, but clearly his entries, you know, something is nor quite right there. So, if I look at his trades, you know, I can see that he’s getting it sixty six, getting at sixty six, getting in at five seventy, and then stopping out at five twenty eight. So, you know, he took a pretty good sized loss on that with five thousand shares.

You know, which will definitely knock you down quickly. And that the thing you learn with these set ups and I’ve certainly learned in the last few days. You have to be smart in how you position yourself. Because if you are too aggressive, you know you can get stopped out really quickly, and before you know it be down five thousand or five thousand dollars. It really doesn’t take much.

Another trader on gold, trading dust, down nine thousand. So you know, we can see some big swings in the PNL, which is why its really good, that these are trading in the simulator to practice before they go live. I mean that’s the whole point of this, you know, you trade, you practice, and then once you’ve built up, you know, a period of success that you’re able to start trading with real money. If that would have saved me thirty thousand dollars if I had done that when I was getting started.

So, nice to see that you guys are practicing. About three hundred eighty five traders in the simulator today. Which is good and it seems like it was preforming pretty well. Quick order execution which is awesome. So, anyways that kind of wraps it up for today. Overall not a bad day, I didn’t trade a lot. You can see GLBS here breaking out, this is kind of what I was wondering would happen, this sort of lunch time break out. .

But again, you know, its not a bad set up, not sure why it spiked up here instead of, you know, on this candle. We’ve been at the nine moving average for a little while, but the risk is higher. You know, right now you’re at seven eighty one, and look at how quick it just dropped to seven sixty five on level two, seven sixty three.

So, imagine if you were in this five thousand shares, you know, seven fifty five on the bid right now, by seventy, seventy eight. You know, you’ve got a seventy cent spread, that a thousand bucks, just across the spread. So that’s the challenge and that why you see a lot of these candles end up having these big topping tails. They squeeze up, people marketing in, covering shorts, and then they come back down as people bail out by hitting the bid, because when you have that big spread and then you hit the bid you know, you’re down twenty cents.

So, anyways I, you know, I guess I missed this one but I think I’ll be okay with that, and just happy to mark my day down as a green day on the calender and break that four day red streak. So, that was the first time in quite a long time, quite a while that I’ve had four consecutive losing days and obviously it’s not fun, it’s a little bit stressful. But it’s part of the deal with trading. You know, last year I had a fifty six day green streak, where I was green every single day for fifty six days. Which is, you know, crazy. I was green every single day, in my small count, in January, and you know, I’ve been fortunate.

So, last couple day I’ve been paying my dues, maybe I was being too aggressive, but, you know, that’s all right. I’ll bounce back, and you know, work my way back up too a hundred thousand dollars. So, hopefully I’ll get there by the end of the month. Originally I had said the end of March was my jail to hit a hundred K, so I hit a hundred K like the first week of march and then pulled back. So now we’ll see if I ca get back to a hundred K by the end of March.

All right guys, so that’s it for today. We’ll be back at it first thing tomorrow morning and hopefully we’ll have some opportunities to catch a little bit of momentum but I’ll also be willing to sit on my hands if there’s nothing is clean. So make sure you guys trade smart and I’ll see you guys first thing in the morning. All right, Thanks everyone.

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