Warrior Trading Blog

Finishing the morning +$1,365.96 in 1 hour

1 hour

Finishing the morning +$1,365.96 in 1 hour


Alright everyone. We’re gonna go over our mid-day market recap here for this morning. Bouncing back here, I wasn’t in yesterday. I took the day off.

Jumping back in and looking for some opportunities this morning, finishing the morning up, $1365.96, which is really not bad at all. That is … let’s see, today is the … my 234th day of the year. We’ve only got two days left. I’ll top out at 236 days this year, it looks like. $1300 is not a bad way to finish the morning. We definitely were seeing some later volume trading today.

That’s not surprising. You can see, even in the chat room, far less people in here than we would see on a normal day. For me, that is a good indicator that maybe traders are on vacation or some people just not logging in. Things like that. It’s not surprising. If you had a great year, even for me, being up $350,000, there’s really no point in trading during the week, a short holiday week like this. It’s already a four-day week. So why not just throw in the towel, call it a good year, and come back in January? That’s what a lot of people will do.

I’m here, I’m trading today and having a little bit of profit, 1300 bucks, but definitely wasn’t … didn’t see really good opportunities today. It was just a little bit slower. It’s funny because yesterday we saw a great opportunity on FTFT. I wasn’t here, so I missed. This was like a picture-perfect gap-and-go trade. I’ll show you guys … scroll back here. People were sending me messages about this yesterday. Of course, I missed it. It would have been definitely the stock I would have been watching.

Who knows how much I might have made on it. Maybe a thousand bucks, couple thousand, depends how aggressive I was gonna be. Pre-market high was 550, the half dollar. They pulled back and them popped over pre-market high. Squeezed from 5.50 up to 6.20. Then did a one minute micro-pullback right here.

Then it broke from 6.20 up to 8 dollars, getting halted on the way up. Nice action on that one. I obviously didn’t trade it but, I thought maybe today, because we saw that good follow-through yesterday, that maybe we would see good opportunities today. It was a possibility. That ended up not really being the case. Our leading gapper was WATT, gapping up over 80% on news of something to do with their wireless charging system, which is cool and interesting, but obviously, just didn’t really look that good.

By the time the bell was about to ring, I came up with four reasons that I didn’t like it. Number one, it was too expensive. Number two, it already had too much volume. Number three, it had started drop here, pre-market. And number four, the flow I think was a little too high. Maybe I already said that. In any case, there were a couple reasons that I didn’t like this one. The bell rang and I just had no interest in it. It’s really just been choppy.

It hasn’t been really weak, necessarily. It’s down a little bit. It’s holding up better than I thought. Who knows. If it curls up and breaks over 16.50, 17, maybe they’ll take off. I don’t know if that’ll happen. Anyway, that was our leading gapper. I didn’t like it. For me, today, when I started the day, I actually didn’t have a single stock that I was closely watching. I said, you know what, I just don’t see anything that looks really that interesting today.

I’m just gonna watch the high today momentum scanners. So let’s look at the first trade. My very first trade of the day today, I’ll put the scanners here, was LMFA. LMFA … I’ll put this maybe over here like this. We can see my PNL here, 1300 bucks. I’m just gonna put this here so we can look at the charts and the scanners, since that’s what we’re gonna be going over. So, scroll back … all the way back down to 9:30. Okay. The bell rings. It’s 9:30 and you can see right here, 9:34, LMFA hits at 188. I look at it and thought, this one’s a possibility because it’s starting to curl up a little bit. Yesterday, it spiked up. The first daily candle to make a new high after 11 red days.

So, maybe we will see continuation on this one today. I jumped in it at two dollars with 5000 shares. It popped up to a high of 2.07, but it did not hold that level and I sold at 2, 2.01, 2.03, and the rest at 1.98 for a total profit of $33. It just didn’t work out. Basically, it was … you could say it was a loss. It just got out break even, basically. So that’s fine. That was the first one.

For a moment, I was down about 500, ’cause it hit 1.90 and then it popped back up to 2.04. I was just glad not to be red on that trade, DRIO. DRIO also hits our scanner. This is a scanner day, watching stocks, hitting scanners. DRIO hits at 1.90, 1.94. It popped up through 1.90, squeezed all the way up to 1.20. So, I jumped in as it was squeezing up here, long at 1.24, 1.25, with 5000 shares.

I sold a quarter at 1.64. Half of the remaining at 1.49 and the rest at 1.49 and a little at 1.33. That ended up being my biggest winner of the day, $1371 up here.

You can see this tapped a high of 64, it pulled back and then it couldn’t really hold up. Next stop, also on the scanner, MDGS. MDGS … scroll up … let’s see. There we go, 1.48. You can see this is my biggest loss of the day. I jumped in it at 1.63, 1.66, again, 5000 shares. It popped up to a high of 1.70 and then it dropped pretty hard, all the way back down to 1.40. I stopped out at 1.53, losing 600, or $595. Not the worst loss, but, you know, little disappointing.

With that, I went from being up about 1300 bucks on the day to up only 800, giving back $600. At that point I thought we’re definitely seeing a choppy market. The couple of stocks I was watching, neither of them were really solid. This might be a good time to just slow down and not be super aggressive. The next one is SLNO, also on the scanners. You can see right here. SLNO hits the scanners. I jumped in at 2.14. I’ll pull this back here.

It popped up to a high of 2.25. It pulls back, does a one minute micro-pullback and then goes all the way up to 26. I sold half at 25 on the ask, which was great. The rest, I sold at 14 and 13. It dropped and then popped back up. Dropped to 2.03 and popped back up to 2.15. I got out on the ask as it popped up. Not a big winner here. Only $223, but a green trade, got be back up over a thousand dollars on the day.

The last trade was … let’s see, where was it. IPWR. This was kind of a surprise, because it hit the scanners, 13 million share float. I looked at it and it was just really starting to take off. Lots of volume was coming in right around a dollar thirty. I jumped in only 2500 shares at 2.40, 2.42, because at that point, I was like, you know what, I’m already up a thousand bucks, I don’t wanna give it back. It’s 10:30, it’s kinda choppy. The last couple trades I took were close calls. Let’s just start with 2500 sharers.

I get ’em at 2500 at 42, I sell half at 55. I sell the rest at 56 and 55. I was like, you know what, good trade, 300 bucks. It ends up squeezing all the way up to a high of 2.85. So I really sold this one too early. It ended up being really strong here. A little bit of a bummer on that. But, I’m finishing the day green. It’s kind of light volume, holiday trading. Green is good, especially this time of year.

The goal is just to finish up the year strong and not do anything stupid. I’ve got, right now, 255,000 in my trading account. I’m going to wire out 230,000, which will leave me with about $26,000, $27,000 going into the new year. I’m gonna start this account fresh, take that money out and it will definitely drop down my buying power by a lot. But I don’t need a million dollars in buying power. I absolutely don’t need it. My average position size today was 5000 shares. The average value of my trades in the last couple days has been about $18,000 per trade.

With $18,000 per trade, I’m definitely not running out of buying power. I’ll be fine with a smaller account and work on building it back up, starting on January first. Anyway, that’s the game plan here. [inaudible 00:10:22] when I got in at 2.41, I was chasing it a little bit. I thought that it had a good chance at hitting 2.50. That’s part of why I went with smaller size, just because I didn’t want to be super aggressive, ’cause I knew I was buying it a little high.

It seemed like it was really moving pretty quickly. I just figured I would give it a chance. From $583 on January first up to, as of right now, almost a year later, right around $327,000, which is obviously been a big push. Let’s see … I’ll show you guys a December challenge. Let me just log in and grab this Google doc.

Our December challenge … here we go. This page will load here. This is where we are sitting as we come into the last couple days of the month. We’ve got two days left. It looks like we’re gonna come in short of our goal, which is a little disappointing, but not unusual with trading. You set a goal. As long as you’re green, you’re doing something right, but some of us set pretty high goals. You can see where I’m sitting here, Ross, Mike, Jeff, not too many swing trades this month. Roberto, John, great month, really solid. Sam, he’s closed out options trades and for the rest of the month, he’s been trading crypto-currency. He’s not day trading stocks right now.

Shawna just had one really tough loss on PXS and since then, has been kind of just taking it slow. You can see through here, a couple of students have done really well. Tyler up almost about 10K, swing trading mostly. Robert, 11,000. John, 10,000. Really good. Dean, he was leading the way for a while here at the first part of the month, up 13,000. Then in two big days, gave it back. We’re sitting at 176,000 here. We would need to have two really, really good days to hit the quarter million dollars. That might not happen, given that we’re coming to the end of the week and it’s holiday trading. You can see yesterday, only two people traded, John and Dean. Not surprising that not a lot of people traded. It’s probably going to be the same today. A lot of people will just say, “I’m not trading.” This will be a slow week, but it’s definitely been an exciting challenge and we’ll do it again at some point, again soon for sure. I know it’s cool for you guys to see where your fellow students are on the month. It’s been an interesting month. A little bit tricky for sure.

Anyways, that’s about it for me today. I’m going to wrap up here and I will see you all first thing tomorrow morning, back in the chatroom. Hopefully we see some really good opportunities and we can have a great day of trading. So, I hope you guys enjoy the afternoon and I’ll see you first thing tomorrow morning.

Hey, I didn’t see you there. 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.