Warrior Trading Blog

Finishing 1st day of NYC Inner Circle Seminar $833.58

inner circle seminar

Finishing 1st day of NYC Inner Circle Seminar $833.58

All right guys, so we’re going to jump into midday market recap here. What’s up everybody? All right, so, midday market recap. We’re going to go over the trades from today, obviously for everyone in the chat room and on Facebook Live, we’re in New York for the Inner Circle Seminar. I’m going to give this to [Deli 00:00:20], you can hold that, so, and everyone in the chat room, you guys are on this computer, so, just say hi. They can’t see any of you. The camera’s pointing towards me. But anyways, Facebook Live can say, you can say hi to people on Facebook Live.

Today was a pretty decent day, eight hundred thirty three bucks, fifty eight cents, not bad. I started in the red. My first trade out of the gates was in the red and I came into the market today knowing, obviously, I am always trading in front of everyone, because that’s part of running Warrior Trading, but today I’m really trading in front of everyone.

You guys have all flown here to hang out and really wanted to have a good day. Anytime you want to have a good day, you’re putting pressure on yourself, and so to compensate for that pressure I told myself today I would trade with smaller size, because the last thing I want to do is to lose five or eight thousand dollars in front of all of you. You guys all understand what it’s like to have big losses, but it would disappoint me and I want to be a good teacher for you guys, so I don’t want to be in a bad mood.

I trade with small size and that was the right move. It’s the right move because the very first trade I took was the red trade. So, the first trade was on RGSE. I was really confident on this stock, even though I mentioned to all of you guys that this was the stock that I have lost money on earlier in the year on my $15,000 red day. I’ve also made a lot of money on it over the years, so I felt very confident that I was going to find an opportunity on it. It was our leading gapper.

Gapping up the most pre-market, and that means it’s going to have the most eyes on it. Out of the entire market, and this is our approach for finding that needle in the haystack, out of the whole market, this stock was gapping up the most, gapping up like 160% with news. It had a catalyst, it had a reason that it was moving higher.

So, the pre-market high on it was actually all the way up at 258. I was watching it pre-market over this pivot on the one-minute chart of 242, and you can see it on the five-minute chart as well, right here. We dropped down, we came back up. This is 242. As soon as the bell rang, it sold off, but what’s really common is that they sell off and then they pop back up. This is one of the rare instances that I felt comfortable pressing the buy button even as it was still dipping, because I knew there was such a good chance it would pop back up.

So, I got in with 5,000 shares, total size. That was my max position at 18 and 19. It pops up to 26 on the first candle. It actually hit a high of 35 on the second candle, but it didn’t really hold that level. I tried to sell at 26, I tried to sell at 24, using my hot key to sell a quarter position. These are each for 1,250 shares, no fill, and so I ended up selling on the bid at 16, at 12 and so that was a $200 loss. So, boom, I’m 44 seconds into the day and I’m down two hundred bucks. Obviously not how I wanted to start my morning with Inner Circle students, but I decided to get back in this at 220 and then I doubled at 229, because I really thought as it came back up on the one minute, that it would break over 230 and then go to that high of 242 and from there, the half dollar and then back to high a day.

So, it popped up there, let’s see, I ended up selling at 229 almost the whole thing because it just didn’t really hold that level, it wasn’t as strong as I thought it would be, so I made profit on it. I made back, I think about seventy dollars, so I was down like a hundred and thirty or something like that. I decided to get back in it at, let’s see, well, I switched gears. I’ll go over MTBC in a second. So, let’s keeping looking at RGSE. I ended up getting back in it at 248, that was at 9:50 this morning, so you can see how it dropped down here on the one-minute chart, and then, boom, it pops up from two dollars all the way up to 270, and I got in as it was searching up for a break at the half dollar.

Entry was 248, sold at 248 and 256. So again, not a lot of profit. I think at that point I got myself to down like seventy bucks on the day. You can see, if I scroll down a little bit more here, a little more consolidation, I end up, I believe taking one more trade on it. Yeah, I got back in for my last trade at 255 and sold it at 264 and then that last trade on this one ended up being surprisingly the cleanest, and that was at ten-o-six, which was right in this area on the one-minute chart. I was looking for the move up to high a day.

So, RGSE in total only gave me fifty five dollars in profit, so, probably more on commissions than profit. Really just not a very impressive trade. But, I minimized my risk and I dug myself out of the hole and so green is good and I’ll take it. It just didn’t end up trading very easily, it just didn’t open up the way I hoped it would.

So, that was RGSE. The next one was MTBC and this one was surprisingly strong. I was really not expecting it to be as strong as it was. My first trade was an entry at four dollars. I got in at four, and if we look at this on the one-minute chart, you’re going to be a little disappointed in me for selling it at 410. I was anticipating a red to green move. This first candle on the one-minute dropped down, the second one, and then as it broke over that candle, I said, “Guys. I’m watching this over four dollars for that red to green move.” I get in at four, and look, it actually went all the way up to, like, 484. So selling it as early as 210 was definitely a little bit, you might say silly, on the other hand, I have 5,000 shares. That’s five hundred bucks, and at that time I was red on the day. We all have one goal and it’s to close the day green.

So, that trade got me into the green and I locked it up and I was up, I think, three hundred bucks. So, I was happy with that, and then I was willing to get back in and just start adding to the profit. I got myself up to five hundred, and up six hundred and eventually up seven hundred seventy-seven dollars. So, you know that put me up eight hundred thirty three dollars trading on a laptop with no glasses and I’m pretty happy with that. This is a good morning.

Now, having said that, it’s a good morning, but I really didn’t feel that any of these trades were particularly easy. Almost each one of them I got into and I had that moment of, “Is this really going to work?” Even MTBC, when I got in at 98, I saw a lot of buying at four dollars, and I thought it was going to be a false breakout. Now I’ve got five thousand shares at 98, I’m going to have to sell it for a 10 cent loss, maybe 15 cents with slippage, and I could be down nine hundred dollars that quickly. So, I’m glad that didn’t happen. It broke over four and as it broke that level I was happy to start scaling out.

I think that I was trying to scale out in quarters and I ended up selling in halves. My hot keys are right next to each other and it’s not uncommon for me to mix them up, but I would have not minded holding a little bit more of this a little longer, but in any case, and actually, yeah, you can see how here, I tried to sell a little more at 13 and I got my order rejected. I thought I was still holding some of my position, so that order got rejected.

In any case, really a very big move on this one, I didn’t fully capitalize on it, and I didn’t think it would go quite as high as it did. I’m glad to see that follow through and eight hundred bucks is good, so I don’t even really remember how much I made on Monday. I put my calendar over here. I feel like Monday was a sort of small day. Let’s see, Monday, $184. Yeah, Monday was small. So, finishing the day here today, today is the 181st trading day of the year, so writing it in my calendar, eight hundred and thirty three dollars and fifty eight cents, day 181, for me. Obviously, I skipped trading yesterday, but back at it here today.

Hopefully we see some good opportunities again tomorrow and on Friday, as we finish up the week. As I’ve said before, for October, my goal is not to be incredibly aggressive, but to be consistent and to try to close each day green if I can. When you got your kind of really heart set on being green every day, it can change your mentality a little bit, because you can start to get a little too aggressive and stuff like that. Being down fourteen dollars, just because I’m red, is not a big deal, even though I want to close the day green, if I’m a little red, it’s okay. But, hopefully we’ll see some good opportunities and I’ll be able to keep this month green and have a strong month.

And obviously, we talked with all of you guys, went through your trades. Many of you guys did a really good job today. Mike had a great trade on SHOP, so really happy to see so many of you do so well. I think almost everyone in here with the exception of three or four, are green today, which is really, really, terrific, I mean, 90% of the room being green, that says a lot. So, really congratulations to all of you guys for booking some profit today and we’ll try to do it again tomorrow morning. So, this afternoon we’re going to have a seminar on swing trading. We’re going to have a panel discussion. We’re also … can go over a couple other things, but I’ll wrap up with this midday market recap and then we’ll have lunch here starting in like half an hour. Oh, question back there? No.

11:30.

What?

Stop at 11:30.

Okay. All right. Cool. Sounds good. I will see all of you guys first thing tomorrow morning for those of you in this chat, okay, and Facebook.

Oh, hey. I didn’t see you there. Well, 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.