Warrior Trading Blog

Finishing Friday With 100% Accuracy: 6 Trades 6 Winners!


Finishing Friday With 100% Accuracy: 6 Trades 6 Winners!


What’s up everyone? All right so finishing the week here. This is my second green day in a row. I’m bouncing back a little bit, up $1,600 today. But the nice thing is that I took six trades today and I had six winners. I only traded for 30 minutes, from 9:30 till 10:00 am and then I threw in the towel and said that’s it. $1,600 is good, six winners in a row is very good. If I keep trading I’m apt to have a loser. So let’s throw in the towel here and just finish the week on a green note.

so this is the seventh trading week of 2018 and it is, unfortunately, my first week closing in the red. I’m closing down about $10,000 this week. Which, obviously, is not what I wanted. But it is what it is. It’s part of the pull back and it looks like I’m starting to bounce out a little bit. So I’m hoping that continues into next week but guess what? The markets are closed on Monday for President’s Day so next week is going to be a short week. Well, a four day week.

So we’ll be back at it first thing on Tuesday morning and hopefully this momentum that we’ve seen here Thursday and Friday will continue into next week and I can really try to get February back into good shape. My goal is to close the month, if I can, up $10,000. Now, versus making $117,000 in January, it doesn’t seem like that’s a very big goal but at this point, it would be a nice turnaround and I’d be really happy with that.

So anyways, we’re going to break down all the trades from today in today’s midday market recap.

All right everyone so here we go. Today is the 33rd day of 2018 and it is another green day, which is great. So finishing the week here with two green days back to back. That’s certainly nice but this has been, obviously, a difficult month for me. So this will be my first red week down $10,000 on the week and I’m red on the month. So we’ve now got, let’s see, two, four, six, only seven days left in the month. You know, I need to average, $2-$3,000 a day to really get myself out of the hole and to being up $10,000 on the month, which is what I would like to be able to do. Not sure if that’s gonna happen. But if I can get myself back to break even, that’s a good start. And then I’ll just start March off fresh and hopefully be able to get myself really nicely into the green through the month of March.

But today the strategy was small scalps, small wins and it worked pretty well. $1,671.99. So I really just went for small trades. I took six trades total, most of them were 5,000 share positions. Getting in, capturing 5-6 cents of profit, getting back out. Only stock I traded was FTFT. This was on our gap scan this morning, it was one of the leading gappers. So I was watching this for a gap and go. I hesitated on it a little bit right out of the gates.

Typically I would buy the break of pre-market highs right here at $338, $340. I had the order ready to do it and I just kind of hesitated. I think I was a little nervous because it opened down here at $317. So by the time it was up at $338, I was like, oh it’s 20 cents. If I jump in at 5,000 shares and it drops I’m gonna instantly lose $1,000 and I’m gonna start the day in the red. And I really don’t want to do that so I just kind of waited for a second. It then popped all the way up to 65 or 75 and as it pulled back, I bought on this pull back.

So I got in at 67. And, you know, I don’t know. I guess actually I tried to double at 70. I guess it’s good that I canceled that order. I just wasn’t totally sure about it. So anyways, got in at 67, added at 76. It didn’t hold up very well, ended up selling at 74 and 72. So that first trade was only like $250. A really small winner. You can see here how it tapped 88 and then it dropped down to 55. It then popped back up, I got in at 79, sold at 86 and 87. Added back at 82, sold at 85, added back at 87, sold at 85 and 97. Added at 90, sold at 407 and 405.

So as this was squeezing up here, trading through this area, we got a pop up here. So I added there. One minute pull back, scalp up to a high of 420. My best exit on this one today looks like was actually 419, 1,600 shares. Which is not bad. Scaling out a little bit right under high of day. That’s pretty good.

So, you know, like I said, there wasn’t a home run on it. There wasn’t a big winner. Even though it ended up going from 338 up to a high of 420, it wasn’t in one push. It was over the course of 15-20 minutes. We then had a good size pull back. I was watching it right in here to possibly get in for the first five minute camel to make a new high. Watching, watching, and it breaks down. So no opportunity to trade that. It didn’t give me the set up and so with that I was done for the day.

So today was just kind of … I mean it was great because the accuracy was on point. Six trades, six winners. That’s gonna help me a lot. My accuracy this week has not been that great up until today. Well actually yesterday was okay too. Yesterday I had three trades and I had three winners. One of them was only a $1.50 winner, though. But it was still a winner.

You know, and actually, I would prefer to have $1.50 losers because having really small losses like that would bring down my average loss, my average loser per trade. So having the $1.50 winner brings down my average winner per trade. But in any case, accuracy in the last two days has been 100%. But of course my accuracy on Monday, Tuesday and Wednesday wasn’t super great. So, you know, it’s the ebb and the flow. I’m kind of just trying to go with it right now and not get too bent out of shape.

Right now I’m sitting at $106,000 on the year and this was our seventh week. So let’s just do the math here, $106,000 divided by seven. So $15,142 per week average. And I would love to just be making, divided by five, $3,028 a day. Everyday I come in, $3,028. But it’s not like that. Some days I’ll have $18,000 winner, $13,000 winners. And then the next week I have $6,000 loser, $3,000 loser. It’s just the way it is. And I know it’s something that I’m struggling with a little bit right now.

This morning during our midday recap I was talking about how right now this is an opportunity for us to strengthen that muscle of discipline. And the reality is I didn’t have to be very disciplined from October, November, December and January. Trading was easy. It was like staying in great shape without having to go to the gym. You’re just like, “Wow I’m in great shape. This is awesome. I don’t have to work for it, it’s just I get in, do the same thing every day and everything is great.” And then all of a sudden, things change. And that’s kind of what happened here in February.

Now I need to exercise discipline but that muscle, I didn’t have to use it for three months because trading was just so strong. So I was kind of out of practice. And it’s been hard for me to adjust to switching to focusing on base hits and not trying to swing for these big winners. So you know, today is kind of day two of getting things a little bit more focused on the base hits and hopefully we’ll see that strategy continue to work through next week and through the rest of February. We’ve got seven days left so I’m hoping that I can catch a couple of decent winners and dig myself out of the hole a little bit.

But it is just one step at a time. I’m not gonna be able to bounce all the way out with one home run trade. I mean, if I do that I’m swinging for the fences. And if I miss, I’m gonna just dig that hole deeper and deeper and deeper. So, you know, I right now can’t afford to take that big leap. I have to just crawl my way out knowing that over the course of seven days of crawling, I’ll look back and be like, “Oh yeah, I did make some progress.”

And then once I start to get a little bit more confidence, maybe that’s when I can start to take a little leap and see if I can gain a little bit more of some headway getting out of this hole. But you guys who have watched me trade over the last several years and who have seen these midday recaps day after day, you know that I have streaks that are just incredibly strong, really great hot streaks and then I’ll have these periods where the markets slow, it’s choppy, I’m not adapting well. I lose money and it’s just part of the deal.

Some of you adopt a more conservative trading strategy by default. You’re just kind of always focused on base hits. And on the days where I do have a home run you’re still just on a base hit. But on the days where I’m losing money you’re also on base hits. So that’s a little bit of a more consistent way to trade. You may not net quite as much because those occasional home run trades, literally three days in 2017 made up 33% of my profits thanks to home runs on each of those three days.

So you know, that’s how big of a difference those home runs can make. But at the same time, for your confidence, for emotional stability, being a base hit trader, there’s nothing wrong with that. It’s not bad at all. In the long run, maybe it’s better and maybe it’s more sustainable. John, he’s been a really good base hit trader. He’s in the chat room as a junior moderator and he’s always had that approach of small win, small win, small win and they add up. And he’s really been quite good with discipline.

I know this has been a difficult month for him as well. Almost every trader that I’ve talked to has said that this has been a difficult month for them. And that’s from beginner day traders to institutional traders with 15 years of experience trading large caps, small caps. I mean, the whole range, the feedback I’ve gotten from a lot of traders is this has been a difficult month. So it’s not just me, it’s not just you. It is a difficult market environment. And when we come out on the other side of it we’ll probably be better off if we’ve taken this as an opportunity to strengthen that muscle of discipline.

So that’s what it comes down to. Trading, this is a very easy job. Coming in here, sitting in front of the computer and pushing some buttons. It’s easy in terms of the skill. The hard part is the emotional side of it and not getting yourself bent out of shape when you are three days into a red streak. You know, having the ability to think clearly, be calm, get yourself out of the hole, that’s what challenges us. So everyday is a little bit of a challenge.

But anyways, this is about it for me today. I’m glad to finish the week with some green trades. I guess right now I’ve got, let’s see, nine green trades in a row. So that’s a nice way to finish the week. And we’ll be back at it first thing on Tuesday morning, since we’ve got the long weekend here. And I hope you guys get some rest, relax a little bit. Those of you that are in the classes, take it as an opportunity to study and once the market does pick back up, you’re gonna want to make sure you spent that time studying so you can really capitalize on the momentum. Because when it picks back up, things will be moving fast, the opportunities will be there and you want to make sure you can really capitalize.

All right, so that’s the game plan. I hope you guys have a great weekend and we’ll be back at it first thing on Tuesday morning. All right, see you guys then.

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