Warrior Trading Blog

Finishing The Morning +$8,066.27 on Day 2 of the California Trip!

california trip

Finishing The Morning +$8,066.27 on Day 2 of the California Trip!


What’s up everyone? Finishing the morning up $8,066, on day two of the California trip. That feels good. Building up the cushion. Getting myself well over $35,000 on the month, on the year. Working my way to that first big line in the sand, $50,000 bucks. Second line in the sand, a $100,000 bucks. Another day in the life of a California trader, driving into the office, 5:30 in the morning. It’s so early.

I don’t know how you guys get used to it. I don’t even know if it’s possible. I wasn’t out super late last night, but you know, the mornings are so early. So, I decided to bust out the camera on the drive into the office. It was me, Mike, and Shawn in the back seat. The three traders from the East Coast coming out here to California, trying to do some trades, make some money, and have a good trip. So you can watch a little bit of our car ride into the office.

You know, the thing most people will tell you about these cars, it’s VW Ti guan, they’re actually pretty sick, fast. Yeah, I mean you could burn some rubber in this. So, I got my other jacket on, it actually feels balmy. Feels pretty comfortable. What’s the temperature would you guess?

Mike:           It’s got to be in the 50s.

Ross:           It’s got to be in the 50s. When I wear this leather jacket, what would you say I’m, you know, who do I remind you of? Like a-

Sean:           Rock star.

Ross:           Rock star. My god. That’s a good one. What about you Mike. Leather. Leather daddy? Now, if we get every light green, we’ll be there in 10 minutes.

Mike:           Nice.

Ross:           If every light is red, it’s probably going to take closer to 15-17 minutes. That’s Shawn in the back seat. Got your seatbelt on?

Sean:           Seat belt’s on. Locked and loaded.

Ross:           Time check. We have precisely-

Mike:           5:34.

Ross:           When does the market open? How many minutes?

Mike:           Fifty four, fifty six.

Ross:           Fifty six minutes. T-minus 56. Can feel the adrenaline already.

Mike:           Are you speeding?

Ross:           I don’t know. You know what? I’m not sure what the speed limit is. But I want to get through this light. We’re through it. We’re hitting our first red light. That’s a sweet tire cover. It’s a skull, American flag.

Mike:           Have you seen the Punisher on Netflix?

Ross:           What is it?

Mike:           Punisher.

Ross:           No. Is it a new show?

Mike:           Oh, man. Oh, man.

Ross:           No, you know, just re-watching The Crown. Just really enjoy learning about Queen Elizabeth.

Even though trading can be really frustrating. And, you know, these things I was talking about the last couple of days, the FOMO, the fear of missing out, comparing yourself to others. You know, having panic attacks on airplanes. You know, even though these things can be stressors, I really like to just try to have fun.

And so today, I’m taking the entire staff here at Warrior Trading, our California office. I flew out our East Coast employees, so everyone’s out here. We’ve got, I think about, well, 22 people that are going to be here today. We’re going to go drive some go-carts, and it’s going to be fun. Friends will become enemies. Enemies will become friends. Alliances will be made. And we’re going to have a great time.

We’re going to do some team building driving those race cars, this little go-carts, as fast as we can. I’m hoping to be number one on the leader board, because, in case you didn’t know this, I’m a little bit competitive. So, I’ve already got my, you know, goal to be number one. And we’ll just see how we do. I’ll see if I can grab some video of that later today. And I’ll show it to you guys tomorrow during our Friday recap.

So, let’s get into it today. Let’s break down the trades that I took. It was a decent morning. I didn’t have anything on the watch list. I wasn’t expecting anything to be really, really good. And then boom, we got some surprise momentum, RMGN, CNET. So let’s break it down in today’s mid-day market recap.

Alright, so eight trades today, seven winners. That puts me at 87% success. Total profit $8,066.27, not bad at all. I will definitely take that. So, let me put my broker here, over on the side so you guys can see it. I am just working my way up, building my cushion here on the month, and on the year. I’m sitting with, right now, $38,160.50 of profit for 2018. And I’m sitting at, let’s see, $373,000 in profit since I started my account with $583.

So, 37% of the way to the million dollar mark. I’m making progress, you know, 1% a day would be incredible, because these would be $10,000 jumps. But, here’s a day where I’m up $8,000. So, really can’t complain at all. Trading two of the biggest movers today, CNET, right now sitting up 33%; and RMGN, which was up over 100% earlier today. So, those were two of the big ones. PYSD, we grabbed that off the scanners, grabbed a quick $1,900 on it. PYDS, and NBEV was a trade right out of the gates off the scanners.

So, you know, this morning, thanks Tyler. You know, this morning, I didn’t really have a lot that I liked. I wasn’t super confident that we were going to see a good day. Yesterday for me was choppy. I only made, I was like, $1,100 bucks, or something like that. And I was happy with the $1,100 because I was down $4,000. And you know, held through the loss until I was back up. And so I kind of lucked out a little bit yesterday. And being on vacation, even though this is a working vacation, which technically, all of my vacations are, because I’m always working, but even though this is a working vacation, I still try not to have really big losses when I’m on vacation, because it just puts a damper on my mood.

And once you get yourself into the hole, if it’s a $5,000 hole, $10, $15, $20,000 hole, then you just know, you’re spending … It’s like when you come down with a cold, and you’re like, “Well, you know, the next week of my life is going to suck, because now I feel sick.” And that’s kind of how it is with getting yourself into a hole trading.

You’re down $15,000, $20,000, and it’s like, “Well, I’m going to spend the next two weeks digging myself out of this one. And I’ll get out of it, but it doesn’t make it any more fun to dig my way out.” I really hate having to be in that kind of emotional place in the middle of a, what’s supposed to be kind of a somewhat relaxing vacation, work-cation.

So, today, very first trade out of the gates, let’s scroll up here on the positions window, or the trades window. So, the first trade was NBEV. So, 5,000 shares on this one. This was off our scanners. It was a stock that we were watching pre-market, because it did have a bit of a flat top set up, as you can see. So, pre-market flat top was at 342. I jumped in for the break of high of day, got in at 339, and with 5,000 shares, sold half at 357. That’s up almost .20 cents, sold anther quarter at 359, there’s .20 cents. Sold the rest at 352 and 341.

So, $744, I mean, really, that’s not bad for 30 seconds into the day, all things considered. That was 5,000 shares. Wasn’t super aggressive on share size, just because yesterday was a little choppy, so I figured let’s just try to build up the cushion a little bit before I get super aggressive. And so, $700 bucks put me on the leader board.

Next trade, RMGN. This one, was on our scanners this morning as a gapper. I wasn’t watching it super closely, because the price was a little on the cheap side. It ended up surprising me and opening up quite a bit. You can see here the high was $2.40. I jumped in at a $1.98, and $1.99, and $2.00, because I would see how strong it was. So, I got in with 7,500 shares. Sold half at 213. I did that because I was up almost a $1,000 bucks. So, sold half. Sold another quarter. Sold more at 221. Added back at 222.

As you can see, bringing the share size down a little bit to 2,000, instead of 2,500. Added back. Ended up selling at 22 and 10 because that trade didn’t really work out. So, that was my one loss of the day. Lost $400 bucks. Got back in at 23, sold at 37 and 36. So, on the chart, those entries were … The first entry for a whole dollar break at $2.00 bucks, right here. Second entry was right around here at $2.20. And then it dropped down. Or, no, it would it was right here. And then my third entry was, let’s see, 36, so it was in this candle here. We double topped, at 38. And then dropped back down and I stopped out there.

So, you know, overall, $1,523 on RMGN. So that put me up $2,200 bucks on the day, which is not back at all. Actually, no, I wasn’t up that much on it. I was up on it, and then I took one last trade, which was at $2.21, the first five minute candle to make a new high. And I sold that trade on the move up to $2.44. So that, I think I was up about $900 on RMGN, and then that last trade, which was my second to last trade of the day, was the one that put me up a little bit more. So, I added a 218 5,000 shares. And I was selling it 230, added back at 240, sold at 244. So traded that a little more actively.

But, anyway, so that’s RMGN, $1,500 bucks on that one. And then we have PYDS. So, PYDS hits the scanners. So, of course, when we see these stocks hit the scanners, we know that there’s 100,000 traders all around the world using these same scanners, so that means as soon as I see it, this is also catching the attention of all those other traders that are using these scanners. So, scroll back here. So, PYDS hits the scans at 253, and when I saw it hit the scans at first, I sort of was like, “Well, I don’t know. Because the last couple days it popped it, it did sort of drop back down. So, I’m not sure that I’m really going to like it. But, I’ll watch it.”

And so, I watched it. And it dipped down for just a second, and then as I started to see buyers at 55, 56, 57, 58, 59. I said, “That’s it. I’m going to jump in. This thing looks like people are starting to buy it.” So, I tried to get in at 58, I filled 2,080 shares. Tried to add 60 no fill, so I canceled the order. Tried to add at 61, no fill, canceled the order. Added 2,500 shares at 84, and 600 at 93. It was then halted on a circuit breaker. I added at 323, 330, and I sold 335, 317, and the rest at $3.00 bucks.

So, in total, with those 3,000 shares that I sold at $3.00, I could have sold those at $3.40 and made another $1,000 on this trade, but I was holding because I thought with my average of 274, I’m really kind of in the driver’s seat. Or whatever my … I think my average was somewhere around there, 275, 280. So, I was like, “I’m in the driver’s seat, I can hold through the pull back, and then look for the first one minute candle to make a new high. Looking for it squeeze back up through 340.” That didn’t happen. It ended up dropping down. So I stopped out of the rest. But still, $1,900 bucks is good.

And, then the last trade was on CNET. Now, CNET was on our watch this morning, because today was going to potentially be … You can see it was gaping up. The first daily candle to make a new high after this pull back. And that’s a significant pattern. So, as I saw it squeezing up here, breaking through the View App, I saw that volume coming in, and I said, “I’m jumping on this. And I think it’s going to be a strong one, because of the daily set up.”

So, I got in this with 10,000 shares at 570. And in hindsight, I was much to conservative. I sold almost all of it at 609. And then I sold the rest at 607, like 10 minutes later. So, basically, I got in as it was spiking up right here. It tapped a high of 640, and I didn’t sell. And then it came down here, and I stopped out. I said I would stop out at 590. It hit 590, and then it popped back up. That was literally the low of the pullback, and then it squeezed all the way up here to like $8.00.

So, I didn’t trade this as aggressively as I could have. I could have gotten back in, I could have held it longer. I could have had more conviction in the pattern. I could have gotten in on a five minute set up, right here, around $6.00, $6.30. Or I could have gotten in right here. But then at this point, I was sort of like, “You know what? I’m going to $1,000.” You got to know when to walk away.

And so today, maybe I walked away a little on the earlier side, but I feel like I don’t have the cushion on the month or on the year to start to really kind of take higher risk trades. And I need to be very disciplined right now about taking profit, getting out. Because, look, remember, literally, last week I had a day I was up $9,000, and then I had a $9,000 loss. I went from being up nine grand, to being up only $60 on the day. And I had to basically start my day over.

Now, I ended up finishing that day up $9,000. I made it back on six more trades, but I really didn’t want that to happen today. So I said, “You know what? Let’s take the money, walk away.” So, that’s what I did. Finishing the morning up $8066.27, not bad for one hour of trading. Closed my last trade just before 10:30.

So, an hour into the day, $8,000, that’s a good day. Boosting up the account a little bit more. I’ll open tomorrow around $74,000. Just keep growing the account. Keep making my way up, and maybe at the end of this month, take out a little bit of this profit. But, it’s definitely been a pretty solid month considering this is only the eighth trading day of the year. So my daily average right now, $4,770. That is not bad for a daily average.

Alright, so let’s see. That’s about it for me today. Overall, decent day. And I’m just hoping that we can finish up the week strong. So, tomorrow, be back at it here in the office 5:30 a.m. local time. And ready to break down pre market watch list, take some trades, and hopefully finish up the week with a couple of winners. Alright, so that’s it for me. I’m going to upload this to YouTube. I’m also going to upload an intro from me driving to the office. So you can check that out on YouTube. That’ll be up later this afternoon.

Alright, so that’s it for me. I’ll see you guys first thing back in the chatroom, tomorrow morning, 9:00 a.m.

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