Warrior Trading Blog

Day 53 of the $100k Challenge +$917.96

Day 53 of the $100k Challenge +$917.96

All right guys, so time for our midday market recap. Today is day 53 of the 100K challenge and I’m finishing the day up $917.96. Today’s not the most impressive day, obviously, but it is my fourth consecutive green day and I’m just kind of rebuilding right now. I hit a high of 101,000 and that was before I fell into a four-day red streak, so as of this morning I opened with $92,451.

I’m just kind of making my way back up to 100 grand and it’s going to take a little bit of time, but it will happen. It just is part of the deal with trading. Today I traded four different stocks. Now, what’s interesting and that what you wouldn’t see just by looking at my PML is that I actually went up, to being up $1,300 and then I lost it all and I was down 50. Then, I made back a 1,000 bucks and now I’m up 917.

Obviously, you don’t really like to have that happen. That’s not the best day ever, but at the end of the day I am closing green on four out of four names, which is pretty good for consistency. Although, in total today I had seven trades, two losses and one break even, so four out of seven were winning trades, which accuracy-wise is not the worst ever.

I guess with the break even it’s … Being actually a one cent winner, it’s 71% accuracy, so five out of seven winners, not bad. Any case, let’s go over the trades from today, kind of break it down. Let’s see, so I’ll move this over to the side. This morning pre-market we had a couple stocks we were watching.

We had AUPH on watch and this guy was consolidating … I mean, yesterday we had a great move. I took a great trade on this one at $8, popped up to 820, dropped back down and then squeezed all the way up to 923.

After hours we were consolidating and then pre-market we popped up a little bit to a pre-market high of 948. When the bell was about to ring I was definitely watching this for a long, but I wasn’t sure I wanted to jump in right out of the gates. AUPH is a little higher priced, it’s getting close to that $10 spot.

I’ve had some good trades on it, but it’s not for me always been the easiest one. Excuse me. I was a little bit concerned, I was a little bit unsure if it was going to be clean right out of the gates. Well, the … Excuse me. The bell rang, it popped up to a high of 48, so double topping against pre-market highs and then it dropped all the way down to 916, so really choppy.

Well, from there it pops back up and squeezes up to a high of 955. I took two trades. I took a trade on it right here, the first kind of one minute pullback for the break over 48 and I … That’s the one that I only made $12 on.

Then, I took a trade right here at 955 for the break over that level up to a high of 969. Two trades on that one, AUPH, that was pre-market and then once the bell rang. Total gains $407, so 5,000 shares, not bad. Not the big winner, but I’ll take what I can get on that one. That was AUPH and then after that we had PULM pop up on the scanner.

PULM, a stock that we’ve traded a few times, you can see it over the last couple months has had some big moves. It’s a former runner, history of making those moves, definitely worth watching.

As it’s squeezing up here first thing in the morning I’m watching this and I’m thinking, “Okay. I’m going to watch the first one minute candle, both lags set up, the first one minute pullback.” Here we get a one minute pullback and I’m thinking, “Okay guys, I’m looking at this. I’ve got my order ready to get in over 330 and there we go, there’s the break at 330.” I jump in, we pop up to a high of 364, 365, 367. Nice easy trade right there.

I mean, that was just so easy. I didn’t take enough size, I made probably about $900 on it. That was the point where that $900 winner, plus the 400 on AUPH, I was up like 1,300 bucks. While I was watching this and I was thinking, “I’m going I think take another trade on it,” and so I decided to wait for the first five minute candle to make a new high.

On the five minute chart, even though we had these three [doges 00:05:00] in a row, I thought it looked good over 370. As we were consolidating here I decided to jump in at 370, which was right around … Let me fast forward this just a little bit. It was right here, I jumped in at 370 and got totally faked out and it dropped all the way down to 347.

I lost 20 cents like that. 7,500 shares, I was down 1,500 bucks, or 1,400 bucks. I went from being up 1,300 to down on the day and I was just like, it was so unnecessary. I didn’t need to take that trade. I didn’t need to.

I could have just said, “Look, it’s too extended on the five minute chart,” which it was. It was floating way above the nine moving average, it wasn’t a good pullback, and so it was just silly. I didn’t need to take that trade and I certainly didn’t need to take it with 7,500 shares. Gave back my whole morning. You know what? $1,000 a day, $1,300 a day is good.

I shouldn’t have been so aggressive. I was frustrated at that point and said, “Well, I guess I’ll just let this sit for a little bit and I’ll switch gears.” I switched gears, I took a trade on RNVA, $250 on that one. This popped up on our scanner. I did the same thing. First one minute candle to pullback.

Actually, I might have taken this trade before that last one on PULM, but in any case, the entry was right here, 211, we popped up to a high of 219. Couldn’t hold that level, stopped out with like a couple cents profit.

Next one, RGSE popped up on the scanner. I was like, “Okay, I’ll wait for a little bit of a pullback.” I got in over 44 thinking that we would break over the half dollar. Popped up to a high of 949, dropped back down, so nothing really on that one.

Then, I had PULM still on watch and I was like, “Okay guys, I’m going to watch this for the first five minute candle to make a new high now that we’ve pulled back to our nine moving average.”

I almost got in on this candle here that made the new high up to … From 55 up to 62, but when I was about to get in I noticed a pretty big seller on the ask and I was like, “Mm, I don’t know, I’m not feeling it. I think I’ll just wait.” It ends up dropping down, but it popped back up pretty quickly.

When it popped back up, that’s when I started thinking, “You know what? I think if we can break over 65, 62, 65 it’s probably going to curl back up to 70 and at 70 we’re so close to 74 high a day, we’ll probably squeeze.”

I said, “You know what? I’m just going to get in here.” I jumped in 5,000 shares and then I added 5,000 right here over 75 and we got that move up to a high of 90.

That was my redemption, so made back the money on that trade, got myself back to green on PULM. I didn’t make back all that I lost, even though I had big size I added into the squeeze, so my average was higher. It ended up getting me back to green on the day and nearly $1,000.

I wanted to take one or two more trades to get myself actually above 1,000, but then I said, “You know what? I’m only $83 off that level and who really cares? If there’s no good set up, then I’m just going to sit tight,” and there wasn’t anything good. Now, my commissions today are $96 plus 261 in ECN fees.

Obviously, my ECN fees are quite a bit. Now, this is something that you deal with when you trade with direct access broker. Your commissions are lower, your ECN fees are higher.

Alternatively, if I was trading it probably like E-Trade or Ameritrade my commissions would just end up being the same as these combined. I wouldn’t have the ECN fees, but the commissions being four times higher would end up making that amount much more.

The amount that you pay in fees is maybe not lower with direct access broker, but you benefit from being able to send your orders very quickly to the market so you can get in quickly, you can get out quickly, you can book your profits, capture them when you have them and for me, that’s worth paying that little bit of an extra price.

That’s kind of where we’re at today. Yesterday I made 1,700 and now today 1,000, just under, so I’m up $2,988 on the week. Actually, no, not quite that much. I got to take away commissions from that, so I’m up … I’m probably 2,600 or so on the week and that’s fine. I’ll be content with that.

That’s obviously a little lower than what I would like to be at, but we’re kind of in this place right now where we haven’t been seeing really good follow through on most of the momentum trades. If I can grab a little bit here and a little bit there, I’ll be happy with it. You can see here PULM gave us the first five minute set up, pulled back, gave us a second five minute set up, so some pretty clean set ups there, pretty low risk for the most part.

I think that’s really the way to do it right now. Just focus on those lower risk trades, get in, capture your profit, get out, don’t overstay your welcome. Right now I’m really waiting for that next stock to go parabolic. The next stock to go from $2 to 4, to 6, to 8. I think that will start the next wave of really strong momentum, so we’re just kind of waiting for it.

I think it’s anyone’s guess which stock it will be that puts in that next move, but it will happen at some point before too long and that will get traders super excited and I will be ready to jump on it.

One of the things I said this morning is that stocks that right now have kind of lighter volume, I’ve been waiting for more volume to come in, waiting for that first pullback to get bought up, so kind of waiting to see the train starting to leave the station before I jump on.

Because, I’d rather be a little late right now, then a little early just with the way the markets been. Unfortunately, I have not made back all the losses from the red streak that started on the 10th. It may take me a full two weeks to make back all of that money, but that’s just the way it is.

This month seems like it’s just a little bit more of a struggle. Right now I’m up 17,000 on the month and that’s not bad. Obviously, last month making 60 grand was a lot nicer, but I still have two and a half weeks left to get a little bit of … Actually, sorry, two and a half weeks, I have a little less than two weeks left to get my redemption, so we’ll see what I can do.

Hopefully we have some good opportunities in the next couple days and I can get myself up over 100 grand by the end of the month. That’s my goal right now. I still have $6,500 between me and 100K.

The second crossing of 100K, maybe it will be twice as nice. All right, so that’s it for now guys. Remember, Warrior Pros students, we’re going to have our session at 4pm. We’ll be doing that session later today and for everyone else, I’ll see you first thing tomorrow morning.

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