Warrior Trading Blog

Finally, A Green Day +$3.3K!

green

What’s up everyone? All right, so here we are finishing the day in the green up $3,332 and I needed it. Finally, a green day. This is the second green day of August and the good news is that my first green day I made $4,500. My second green day here, I’m up $3,300. The green days have been big.

 

The problem is the red days have also been fairly big and have an imbalance so far this month with more red days than green days and that doesn’t work. I need to turn that around. Today was the first day and a great start. Had one really solid trade and that gave me my daily goal. Other than that, not a lot of things moving today, so that one opportunity to get the daily goal is what I needed.

My hope is that I’ll continue to see that one opportunity a day on Thursday and on Friday, Wednesday, Thursday, Friday so we could finish up this week strong. That would make me feel really good. Just digging myself out of the hole one trade at a time, moving in the right direction and we’ll keep it going tomorrow.

Any questions? Any comments? Leave them below and I hope you guys enjoy the recap. I’m about to make it rain. All right. What’s up everyone? Crazy day today. Today’s a day where I felt like just a small town girl living in a lonely world, but I didn’t stop believing. Finishing the morning up $3,332.52. Victory. I am happy about that. Finally, a little bit of a bounce off the lows.

First green day here since midweek last week. I definitely needed it. Let’s see. Today is the 144th day of the year. Let me put up my statement here, my trading platform 144. All right, so plus $3,332.52. Green is good. You know, today’s a day where I really wasn’t expecting a lot of momentum. I really wasn’t.

We really didn’t see a lot on the gap scanner and the stock that I made the most on IFMK, this one wasn’t even on any of the scans, it really just came out of nowhere and gave me the big wins. I’m really happy about that. You can see here every day starts the same for me looking at the gap scanners. Let’s see, we’ll go back to 9:15 AM here, 9:15 AM.

All right, so this is what was on our scans. We had TIS leading gap were up 57%. However, this one, I wasn’t really super confident in because look at how much it dropped yesterday. This thing had tanked and then started to bounce back up. But to me this type of setup almost always has overhead weakness. So I was like, no, I’m just going to leave this one alone.

CHKE I said it’s below dollar 50, you know, it’s just not what I would go for. This one’s a little too cheap, showing too much weakness so I left that one alone. CVGI flow was a little on the higher side, not a lot of volume. Ended up opening up fairly well but didn’t trade that one. Basically, you can see this was the scan today. All of these stocks were higher floats, right? This just isn’t what I typically go for.

These ones don’t usually make big moves. ALLT, this one is one of the trades that I took this morning. It was on the scanners. It was gapping up. Higher float, I think around 30 million shares or something like that. This one I bought this five minute setup right here and a pretty easy trade in and a lot of ways. However, as soon as it started to pop up, we started to see sellers. I saw a 10,000 share seller at 87, another seller at 90, and so on that one I got in at 81 and sold at 85, four cents of profit, 115 bucks. Even at that point I was like, you know what, this might be the best I can do today, a 100 bucks is green and I’ll be happy with that.

Then basically, you know, we had this stock, IFMT hit the scanner, it pops up. So let’s see. The thing with trading that you have to remember is that, some will win, some will lose, but some were born to play the blues, right? That’s what we all struggle with almost every single day. This one, it pops up 290 and I almost jumped right in. I was close to jumping right into it but I said no, give it a second. Wait for confirmation. All right, so on this one I waited for some confirmation. It pops up to a high of 290. It doesn’t hold the level and it sells off. I was glad that I waited. I was like, you did the right thing, you sat tight, no trades, and then all of a sudden here it surges up.

It surges up, does a red to green move, pops up to a high of $3.35. It then pulls back right here and as it pulls back I said, all right, this is where I’m interested in getting in for the first candle to make a new high. I bought right here. All right, so let’s see. My entry was 304 right here with 5,000 shares. I’m in at 304, it pops up to a high of 340. I was like, I’m not going to stop believing, this has potential. I decided to add 5,000 shares at 346. Now I’ve got almost 9,000 shares total, right around 9,000 and my average is 320.

All right, so I’ve got a good average 320, it pops up to high of 352. This was kind of the moment of truth. I even for a second, when I added it 46, I was like, I’m just going to flip out and sell that add. When I saw some resistance I wanted to sell over the half dollar, but then there was a little bit of resistance there, the half dollar. I was like, maybe I should start reducing my risk, whatever. I tried to sell. I don’t get filled. I try to sell 57, I don’t get filled. This is kind of the moment of truth. I keep trying to sell on the ask because I’m a little bit nervous because at this point now I’ve got basically max risk on the trade.

I’ve added full size and I don’t want to have this go back to break even so I’m just like, all right, let’s see what this does. This is moment of truth and then boom, it pops up there to 71. This is where I started selling. I sold half or three quarters at 61, a little more 55, a little bit at 49, a little more at 55. Then it popped up here to a high of 85 and I was able to sell a little bit more at 76 and 75. I kind of under leveraged this one. I wasn’t as aggressive on it as I could have been but you know, I’m up $3,000 on and I’m happy with that.

If I’d held the whole thing, the whole thing from 304, could I have made $3,000? Probably not. I needed to be able to add to be able to get that bigger winner. I think this was the right one to be that aggressive on. I mean, I do. It showed the potential, the fact that it squeezed, you know, from 280 up to 335. I mean that was a big squeeze so on the first pullback, I’m making new high as my entry, it pops up. Hits a little resistance at the half dollar, right up here, pulls back and then, kind of a topping tail candle here, a little nervous. Then it opens up to 385.

Not the cleanest one we’ve ever seen by any means, but at least finally a little bit of volatility from 260 up to 380. That’s what I needed to get a little profit today. I’m happy with that. In a stronger market I would have been more aggressive. In a stronger market I probably would have been more aggressive here and I probably would’ve added right up here. In a stronger market it probably would have broken and hit 4. This didn’t even halt on a single circuit breaker, no circuit breaker halts on it, so that again is sort of indicative of the momentum. It was strong but not outrageously strong. We didn’t see that feeding frenzy.

We didn’t see that exuberance that we would see in a strong market. I think I did a good job maximizing on it, could have done a little more in a stronger market. I would have, but given the market we’ve been in, I think it was a good day. I was willing to break my 6,000 share max position size because by the time I added up here, I was already up almost 50 cents per share. When I added up here at 46, my new stop was my cost basis of 320 or 322, whatever it was. Now that’s my new cost basis, stop is at break even. What I’m risking is losing $2,000 of profit that I have from $3 up to 340. I was willing to risk that thinking this had the potential to make a bigger move.

In this case, adding there, I didn’t really make that much on that add. I probably only made a couple hundred bucks. So the risk reward wasn’t as good on the add as on the initial entry because I added at 46 and then I ended up selling a 61, 45, and some at 49. All right. That’s not the biggest move there but it was all right. Hey, this is a sign of a little bit of momentum. This might not hold up today, it might just continue to fade. It’s breaking the nine moving average right now but hopefully we’ll see some more opportunities like this going into the rest of the week. This puts me green on the week.

I’m still red on the month, but it’s a good step forward, kind of digging my way out of the whole one trade at a time. That’s what it’s all about. I’ve gotten knocked off the horse more times I can possibly count. It’s just always about getting back on, digging yourself out, one trade at a time and you know, here we are. This is the first day in the right direction. Hopefully, we can keep it up tomorrow and Thursday and Friday and you know, start to turn this month around but reality is August feels slow right now to start. This historically is one of my slower months, but within the slowness there will be little pockets of opportunity.

A stock like this that suddenly goes from 260 to 360 or 380 and so that’s an opportunity to make some money. In a stronger market it would be an opportunity to make 10,000 or more. In a slower market, might only be an opportunity to make three or 4,000 but that’s okay. If I can do that a few more times, I’ll be able to not only take myself out of the hole but finish in pretty good shape. Remember, in June I started the first day of the month down $16,000. This sound like big numbers and they are but it’s because I trade with big size. I’ve got well $63,000 in this account right now. I’m up 340 350,000 on the year. So I traded big size.

The result is big winners on green days and big losers on red days. When I started June down 16,000, you know, I just spend the next week and a half digging myself out of the hole, but I still finished up about 35,000 on the month. As far as a bad start to the month goes, this actually isn’t as bad as I’ve seen in very recent history. All right. Anyways, that’s about it for me for the midday recap. Noontime today live classes for Warrior Pro students. As I said, anyone who is in the Warrior Pro class or has been thinking about it, I’ll be teaching live classes all month. This is the first week. Today is going to be class one.

We actually canceled the class yesterday, so today will be class one and I’ll see you guys over there in that classroom at noontime. All right, so in about an hour. All right, so that’s the game plan and hope you guys have a good afternoon and we’ll be back first thing tomorrow morning. All right, I’ll see you guys all in the morning. If you’re still watching, you must’ve really enjoyed that video, so why not subscribe and get email alerts anytime I upload new content. Remember, when you subscribe, you become a member of the Warrior Trading family.