Warrior Trading Blog

Day 54 of the $100k Challenge +$362.14

Day 54 of the $100k Challenge +$362.14

What’s up, guys? All right so, here we are, day 54 of the 100k challenge, and today was the first day during this challenge where I have lost internet, and you know, I mean, it’s one of those things that I suppose happen from time to time. It doesn’t seem to happen that often to me, maybe just for luck, I don’t know, but in any case, this morning around 8:30, I lost my power and I lost my internet, so I was kinda like “all right, well, you know, it will probably come back on in whatever, 10-15 minutes, I’ll just, I’ll wait it out”.

And, you know, 9 o’clock came around, 9:10, 9:15, and I was like “Okay, looks like I’m gonna be running today with no power, so I was like all right, I’ll set up my mobile hotspot”. So on my iPhone, you know, I set it up to be its own little wi-fi signal, and I connected my laptop, and, you know I’d already been working since like 8:00 am, just checking emails and stuff, and I wasn’t plugged in, so my battery was already starting at like 50%, but I have two laptops, and the second one I hadn’t opened yet. So I was like “all right, I can kind of throttle between one and then the other depending on how much power I have left.”

And so I got logged into the room, I wasn’t able to do my usual screen share cause I don’t have the band width, but I got logged in, and I started going over the couple of gappers I was watching, and ended up taking a couple trades.

Now, I noticed, as soon as I pressed the ‘Bye’ button, there was a little bit of a lag between the ‘Bye’ button and the order coming through, which is not typical for me, but is something that happens when you’re trading on, basically your iPhone for internet.

And so I took a couple trades, smaller size, made through her 60 bucks, and I was like, that’s it, that’s good. You know, I’m not gonna push my luck, so I took three trades and had two winners, so I’m finishing the day here, this is my laptop over here. Day 54 with 362 dollars and 14 cents. This is a screenshot just as my battery was coming to the end of it, and I’m gonna upload this whole video to youtube, I’m screen recording right now, so those of you who aren’t able to see this, you’ll be able to watch it again on YouTube later.

So when my battery was at 10%, I knew at that point that my computer could shut off at any point basically. The way my computer seems to work is, it tells me I have 10% left, and then, from that point on, it’s kind of anyone’s guess when it’s just gonna turn off. Sometimes it’ll warn me that it has 5% left, and other times it just goes to sleep, so I knew at that point I had to stop trading.

And then I thought: “Well, you know, clearly the power is not coming back on anytime soon”, you know it’s 11:30 now, and I still don’t have power, so I was like “All right, is there something else I can do?”, and I was like: “You know what, I think that I have one of those AC/DC adapters for my car that I can use to run an extension cord to the back of my car”, and I was like: “Well, let me see if I can go find that.”

So I have like a couple percent of battery left, and I walk down stairs in the garage, and I was like: “Yeah, I know I have it, but where is it?” You know, I haven’t used this thing in literally years, I don’t even remember the last time I had to use it, but I found it. So I’m gonna give you guys a little tour here of my make-shift setup. So, let’s see, and I guess I’ll keep this like that.

So, all right, so you guys can see here we’ve got our power cords running down the stairs, down the stairs, down the stairs, down the stairs, all right? So we’re gonna walk down stairs, and so I’ve got, I think three extension cords here, all tied together, and the first thing I tried to connect was my router, cause I was like: “If I can get my router online with power, then I’ve got internet, and don’t have to use the hotspot”.

But then, I texted my neighbor and he said there’s a tree down, so cable’s out, and so is power. So I was like “All right, well, let’s see what else I can do, so I got things set up here, and now you can see, back in the car, I’ve got this little guy running from here, right down into there.

So, I’ve managed to get myself up and running today despite sort of less than optimal trading conditions, and, you know, this is kind of, I guess part of the deal. If you really want to trade, if you really want to make money then sometimes you have to get a little creative, so let’s see. I’m gonna move this out of the way so those of you watching on the YouTube stream can see, so that’s my setup with my little inverter here, which is great, I mean this thing is awesome, it’s rated for 375 watts, and, you know, probably the best part of all this is that my car is gonna be nice and warm by the time I’m ready to go grab some lunch. So is it a good idea to idle your car for an hour and a half?

No, probably not, but whatever, today I’m gonna do it. So, car’s idling, hanging out, I’ve got my power and you know, go for a drive in a little bit here, get warmed up. So let’s go back inside.

So anyways, kind of making do is, you know, the situation as it is today, which is putting together three extension cords and running off of my car, but you know, my car is a diesel, so it’s probably not really burning that much fuel. It definitely didn’t burn 300 dollars worth of fuel, I mean, that would be actually impossible cause the tank isn’t that big, so yeah.

The car is not idling in the garage, it is outside the garage which, I was at least … Had the presence of mine, not to just turn it on in the garage, but you know, that’s probably a good warning, that if you’re going to try to run off your car’s battery or whatever that you don’t just leave it running in the garage because you’ll get really sleepy, and then that will be the end of your trading career.

So, you know, today’s obviously … I’m just thankful it’s a green day. I’m on day, let’s see, one, two, three, four, five of my little green streak here, as I balanced back from, you know, what had been four consecutive red days. So I made 917 yesterday, plus 362 today, you know, this is not a big green day, but realistically, even if I had been trading with, you know, all of my monitors, and my whole setup, the only thing I would have done differently was take a little bit more size.

I mean, that’s really the only thing I would done differently, was taking a little bit more size, and so, you know, my first entry on IDXG, you know this would’ve been, I mean, I got into 2.95, and it popped up to 3.40, so you, know, maybe I could’ve taken that one with a little bit more size, and maybe I would’ve been able to get in at 2.80 cause I would’ve seen it sooner, which is also possible cause I was kinda like, excuse me, right at the bell I was sort of trying to get myself situated and I was just …

Everything was taking longer so … Maybe I … No, maybe this would’ve been a thousand dollar day, I guess it probably would’ve been, you know, a thousand dollar day, but I don’t think it would’ve been a five or ten thousand dollar day by any means.

There just wasn’t really as many opportunities today, so those of you who can see IDXG, you got the first one minute pullback, and then I ended up getting in at 294, which in the context of this kind of green streak, was not even really a pullback, I just kinda got in for the whole dollar, but I thought it was gonna break, and it did, and then we got the move up to 340, so … You know, 320 bucks on that one, CLNT took a stab on that, it’s a recent reverse split, I thought maybe I had a little more potential, but couldn’t hold those levels, so only 105 dollars on that, and I traded a smaller size, knowing that, you know, if whatever, if something happens, I’m not gonna be as quick, my orders are gonna be a little bit lagged, and I’d rather not lose a thousand bucks today, I’d really feel pretty stupid if I, you know, traded from my phone and lost a thousand dollars.

If I lost a hundred or two hundred, I really wouldn’t care, but if I lost a thousand I would be pretty annoyed to myself, so … You know, this was the same thing last … When was that?

It was in February for President’s Day weekend when I went to Jackson Hall, I was in the airport in Chicago, and I got on the chat in the morning, and I was walking you guys through what I was watching, and I was really tempted to take a trade, but I was like: “You know what? You’re on airport wi-fi, it just seems like asking for trouble”, so just, I don’t want to ruin my vacation, you know, by doing something really stupid, so I just decide to forget it, but today, I was pretty much in my zone, and I was able to, you know, have a decent day all in all, 320 or 360 bucks is not bad.

So, in any case, that’s kind of where we’re at here today on day 54 of the 100k challenge, and this is my second attempt at 100k, you know, cause I hit it once, and now I’m trying to get back above 100k. So day 54, just writing that on my calendar, and then, reminder tomorrow at 1 pm, we’re gonna be hosting a webinar where I’m gonna be talking about the challenge, from 583 dollars and 15 cents all the way up to 101 thousand dollars, 101,280 I think was right around where it was, so we’re gonna have a webinar at 1 pm.

Gosh, I hope my power’s back, but I’m sure it will be. I suppose if not though, I’m gonna give my car a little bit more of a workout tomorrow, which I’ll just deal with it and that’s fine. Maybe I’ll go buy another something today, but anyways, I’m sure it’ll be back on, so webinar tomorrow 1 pm, and I’ll give you guys the link to register.

Those of you who are on Facebook, and those of you who are watching on YouTube, I’ll put the link down below in the comments so you guys can get yourselves signed up, but yeah, that’ll be happening tomorrow 1 pm, and basically, I mean, one of the things I’m gonna talk about, and you’re gonna see is that for me, to be able to take 583 dollars and turn it into a hundred grand required, number one, a tremendous amount of focus.

Number two, it took a lot of risk, it did, I’m not gonna say it didn’t, but number three, it took me inhering to a strategy really to the T. Knowing how to manage my risk on every trade, knowing how to choose the right type of stocks to trade, and knowing how to find those entries like the bull flags.

Now, in the entire 44 days it took me to make 100k, I only traded 130 times, so that was about three trades a day. Now, how many, and I’ll ask you this tomorrow of those of you who attend the webinar, how many times a day, do you guys trade on average? It’s a question, and you know, I bet the answer is more than three times a day on average. For some of you it might be 10, 20, 30.

I mean, I’m sure that there’s some of you that are even above 30, so now also remember that 90% of the traders out there are losing money. I mean, that’s the statistic, only 10% are actually gonna be profitable over the long term, and I’m showing you that this is a strategy that I used over the course of 44 days to make a hundred thousand dollars. I traded three times a day.

Yeah, there were some days where I traded four or five times, and other days I traded only once or twice, but it’s not about trading a lot, it’s about finding A quality setups. That’s really all it its, finding A quality setups, getting aggressive on them, and booking the profit.

So for me, you know, I don’t really like to use like, you know, any type of like, war analogy, but if you’re going to, this is kind of that sniper approach where you are hyper focused on your go-to setup. For me it’s a bull flag or a flat top break out. That’s what I’m looking for, I’m searching the market for that setup, and I recommend for our students that you guys print out a picture of a perfect bull flag, and you just have that next to your computer so anytime you start to see one forming you can look and be like: “Okay, that’s what I’m looking for.”

Yesterday on PULM for instance, I’ll just go back on the one-minute chart for those of you who are gonna watch this on YouTube, and you can see it was just so simple, and we actually had the setup on PULM, I think two days in a row. I got into this trade with 75 hundred shares and made like almost 700 bucks in, you know, two minutes.

So this is my go-to setup. I look for a stock spiking up, and I see it on my high day momentum scanner right over here. I look for the stock spiking up, and then I wait for the first red candle. I like to see two red candles, you know, three is fine two, but I’ll take just one, but I like to see at least one red candle, and then I buy the first candle to make a new high. So I didn’t buy the screen candle, but I buy the second one as soon as it broke the high of the previous one, and it’s so easy. You do this twice a day with five thousand shares, you’re making a thousand dollars a day.

The only difference really between, you know, beginner trade, or trading the setup making a hundred dollars a day, and me making a thousand a day is share size. As a beginner trader you take these with, you know, 200 shares, 500 shares. You want to reduce your risk, you don’t want to have a big loss, so you start small, but you can scale up to the point where, you know, on my best days this year, or my best day this year I made 22 thousand dollars by trading setups just like this.

So today on IDXG, we’ll put up that stock, you know, it was the same type of setup. I missed the first pullback at 280 because I was fumbling around trying to get my hotspot running, but this entry right here at 280 after the first red candle, that was the spot. That was the right spot to get in, I chased it a little bit at 95, but I felt confident with that entry.

So, you know, this is just to say that for me to be able to achieve the 583 dollars to a 100k required me to be hyper, hyper focused, wait for my go-to setup, and then, just, you know, strike, be aggressive, and I was, you know, 10 thousand, 15 thousand, 20 thousand shares. You guys are saying MYOS is popping up, I’ll take a look.

Yeah, I see it popping up a little bit, we’ll keep that on watch, the problem is it only has a hundred thousand shares of volume, so even if we watch this here on the one-minute chart, I would say: “Okay, interesting, you know, wait for a pullback”. Wait for that first candle to go red, and then, you know, I would get in for the pullback entry.

On the daily chart, you can see it has a history of making pretty big moves, you know, it’s a stock that does like to move so it’s worth watching anytime it starts to spike up, but with only a hundred thousand shares of volume, it’s just gonna be a little harder to manage risk on it, but maybe do for a breakout her over 319 or 320.

It would probably be better if there was a headline or news of some type, but in any case, you know, I’ll keep this one on watch, but I don’t think it would be likely for me to take a trade here, especially as we’re coming into the lunch hour, all right so, anyways that’s about it for today’s re-cap. A little bit of an unusual day, but a green day, fourth green day in a row. Actually no, I’m sorry, today is the fifth green day in a row, which is great.

Okay, so fifth green day in a row, really kinda putting that little red streak I had behind me, and making my way back up toward 100k. So I started this morning with 93,375 dollars in my account, you know, so I’m still like 8 thousand dollars or 7 thousand dollars off my high of 101 thousand since I had that little red streak, but you know, I’ll make my way back up, and hopefully I’ll get there by … I’d like to get there by the end of next week if I can, but you know, I’ll take what the market’s willing to give me, I’m not gonna force trades, I’m gonna trade smart and if that means that I just have to sit tight for a couple more days, then that’s fine. I can grind on low numbers, like 300 a day or 500 or a thousand a day, until I get that setup that I can just totally attack and get the three, four, five, or even ten thousand dollar winner.

All right guys, so that’s it for today, don’t forget to register for the webinar tomorrow, 1 pm. Love to see you guys there, and if you have any questions or comments, you can put them in the comments section below on YouTube or Facebook. Okay guys, I’ll see you first thing tomorrow morning.