Warrior Trading Blog

Finishing the morning +$1,276.51 but was -$6k before bouncing back!

bouncing back

Finishing the morning +$1,276.51 but was -$6k before bouncing back!

All right, so we’re going to do our midday market recap here, go over the trades from this morning. This was a choppy day for me. Yesterday was a choppy day for me as well. I’m finishing the day up $1,276.51. Green is good, but I started the day with a $4,000 loser. Again, the same as yesterday and this is getting a little bit frustrating, so I’m going to be more careful tomorrow. I’m not sure.

I’m not going to trade on Friday, but I’m going to be more careful tomorrow for sure. I’m just going to go a little easy because I just don’t like starting the day with a $4,000 loser. It’s just not a fun way to start the day. It forces me to be kind of in the hole and trying to get myself back up. It’s just I don’t like to position myself like that for the day. We’ll go over that trade, that was CREG, $4,200 loss on that.

Second trade of the day was RIOT, $1,800 loss, which means I was down $6,000 on the day. That was before ACHV, $5,500 winner on that one. Then I took SSY, 1,290 bucks. Then I took OMT, $475 and that got me back into the green. I think that is obviously a good exercise to be in the red and to work myself out of the hole. The last week has been interesting because we’ve had days where I started the day with, like back on the day I made $33,000, I started that day with a $400 winner.

A $400 winner, it wasn’t anything crazy. I just started to slowly work my way further and further into the green, 450 bucks. Second trade was $3,700. Third trade was 500 bucks. Fourth trade was $250. Fifth trade I lost $500. Sixth trade I made $1,500. Seventh trade I made $75. Then the eighth trade I made 18,550 bucks. I just had to keep stepping up to the plate.

The problem is the market has changed a little bit. It changed on Friday. I pushed it a little bit too hard, and I got myself into the red. It changed a little. It’s continuing to be a little bit different here Monday and Tuesday than it was last week, so it’s been a little bit more of a struggle and being as aggressive as I’ve wanted to be has been getting me into some trouble right out of the gate.

I’m glad that I was able to push through and get myself back into the green, but it is disappointing. This month, I’ve lifted my max loss rule temporarily because of the fact that right out of the gates, we’ve been seeing so much volatility. Just because I might lose $3,000 by 9:35 doesn’t mean I should stop trading because we’ve seen on several of these days where there are really good opportunities that continue through the rest of the day, where we see something at 9:45 and then at 10:00 AM and then at 10:15, 10:30, 10:45.

If you take yourself out of the game at the first inning, you miss a lot of opportunities. Obviously, you still want to do as much as you can to prevent yourself from going deep into the red on that first trade, but in any case, I’ve been able to work myself out of the red both yesterday and today.

That feels good. I am glad that I was able to do that. Friday, I wasn’t able to and I just ended up stopping out for max loss on the day. Right now, I’m still grinding. I’m at 90 something thousand on the month. I’m trying to get myself back over $100K on the month. That’s my goal, $100,000 on the month and I’m kind of right on the edge right now with, I guess, five days left in the month.

I’ll put up the November $100K challenge here so we can get an update on where we’re at. All right, so today I’m up $1,276.51, so put that in green. There we go. This was John’s first red day of the month. He’s had a great month, though. Couple others haven’t updated yet or are red, so $98,000 right there.

It’s good, but I’m a little bit shy of my goal, so hopefully we have some good opportunities next week. Tomorrow, I’m not going to be especially aggressive as we try to finish up this week and just take a few days off and then come back Monday the 27th recharged and refreshed. All right, so before we do our midday recap for today, reminder: At 1:00 PM Eastern, I’m going to host a webinar, the only webinar here for the month of November.

I’m going to talk about my journey, learning how to trade, becoming a trader, opening Warrior Trading, and I’m going to share with you guys the three core concepts that I think every trader needs to master in order to be successful. Then at end of the webinar, I’ll invite some students to join me in our November, December, January Warrior Pro Training Course. That’s coming up at 1:00 PM. I’m going to put a link, again, in the chatroom here for that. You guys can register and those of you on Facebook Live, you should see the link in the description. That’s today, 1:00 PM Eastern.

All right. Now, let’s go over the trades from this morning. Very first trade was on CREG. Funny enough, CREG wasn’t even on my watch list. It just all of a sudden at 9:29 spiked up and there was news out. There was headline at 9:29, and so when I saw it spiking up and I looked at the daily chart, I thought, “Okay. This looks good for a breakout. It really looks like a good setup.”

The market opens and it opens at $0.35 and as soon as the bell rings, I’m jumping in at $0.37, $0.40, and $0.41. I’m looking at this thinking, “It’s got some good potential. I’m going to go for the half-dollar break.” It pops up to a high of $0.72 and I didn’t sell it because I kind of thought $5.00 might be realistic. Then all of a sudden in this candle, it dropped all the way to a low of $3.87. That’s that volatility in the first two minutes.

I could have sold sooner. I could have taken profit when I’d had it. I was up 1,500 bucks on the trade. I sort of had a higher target of $5.00, definitely a retest of the pre-market high, which was $4.88. This just got slammed back down, so disappointing there. It dropped to four bucks. It popped back up to $4.50. I tried to sell on the ask at $4.42, $4.40, $4.30 to try to reduce the loss, but it didn’t get filled. Then I ended up bailing out at, I guess, $3.83.

That was a disappointing start to the day. I think on that one, maybe the pre-market chart wasn’t formed enough. It wasn’t enough of a pre-market chart. I was sort of jumping in thinking that it would just start squeezing up because of that news and on this one, I was wrong. I stopped out, took my loss, and it’s kind of been consolidating right around that level. It ended up popping back up to $4.14, but whatever. That was CREG.

Next trade was on RIOT. This one, higher-priced stock and as soon as I got into it, I was like, “I’m being too aggressive. This is kind of stupid. I should ease up on my size.” I jumped in thinking that it was going to break over the half-dollar. Here, you can see it broke over the half-dollar, $12,50, to hit a high of $12.80.

I was able to sell some of my position at $12.68 but not enough of it and I was in too heavy, so I had to start easing up and I stopped out at $12.30 and $12.22. That was actually stopping out just before this drop here, which is good because, gosh, that drop would have hurt. That was kind of like, “All right. I’m being too aggressive and this isn’t even the right stock for me to trade because it’s above $10.00. I don’t usually like trading stocks above $10.00. It’s a little outside my go-to range.”

At that point, I was like, “All right. Well, I don’t know. I’m red on the day, down six grand. I’m not sure if I’m going to be able to get out of this. All I can do at this point is just watch my scanners.” I’m watching my scanners and, let’s see, we see a couple stocks hitting the scanners, VLRX, RELV, SRAX. We see ACHV hit the scanner at $1.44, $1.45, $1.48, $1.52 and I’m looking at it. I’m like, “Eh. I don’t know. The volume’s kind of light on it, but we’ll see. Maybe there’ll be something there.”

ACHV, there we go. I see it on the scanner, so I’m thinking, “All right. Well, it’s got room on the daily. It’s starting to spike up, so I’ll jump in and try to get a piece of this.” I jump in at $1.50 with 10,000 shares, so I’m in at $1.50. I added 2,500 at $1.58 because we had this little one-minute micro pullback right here, so I added at $1.58. We pop up to a high of $1.68. I put an order to sell at $1.94 because at that point, I was like, “You know what? I think this thing is going to go to two bucks.” Even when it was at $1.58, I put the order out to sell at $1.94. I just put it out there thinking that it was probably going to hit two bucks.

It squeezes up to $1.68, then it hits $1.74, $1.74, $1.75, $1.80, $1.85. Then it pops up, hits a high of $1.98. My shares get filled there. It’s consolidating under $2.00. I had orders to sell at $2.04, $2.16, and $2.26. I canceled them. I sold 2,500 shares at $0.93. I added at $0.96 and $0.93 and then it looks like I sold partial at $0.97, stopped out a big portion of the position at $0.89 and $0.87 and then I added back at $2.00.

When I added back at $2.00, it was right here for the break over that flat top. We have this flat top of consolidation. I think I stopped out at $0.89. Let’s see. It was kind of right in this range because I was like, “Well, maybe this is just going to hit $2.00 and pull back. It might not be able to break over that level, so maybe I should start easing up,” but boom.

It ends up popping up to a high of $2.15, so I added 7,500 shares for the break of $2.00. I put half on the ask at $2.14, $2.13, no fill, so I sell half on the bid at $2.08, another quarter at $2.06, and then the rest at $2.03, and the last of it at $1.90. So, boom. $5,554.00 on that trade with an entry of $1.50 and a best exit of $2.08. Not bad on that at all. That was a solid trade. Good setup, so consolidation, pulling back, popped back up, got over the VWAP, came back down a little bit. Now, it’s just kind of consolidating.

Next trade was SSY. SSY, it was on the scanners. I said, “I don’t know, guys. The volume seems really light. I’m not sure if I’m really liking it,” but as I was watching the level two, I could see other traders taking positions. I was seeing the buy orders go through, so I was like, “All right. I’ll take 2,500 shares at $1.60.” Then I was like, “Whatever. I’ll just double to 5,000 shares at $1.60 and we’ll see what it does.” So, now I’ve got 5,000 shares at $1.60. It’s halted.

I try to add at $1.88, thinking if I add up at $1.88, then that would give me a good… oh, actually, did I try to sell there? No. Maybe I did try to sell and then I canceled it and tried to buy at $1.93. Put an order at $2.10. That one didn’t fill. Ended up selling some at $2.05 and the rest at $1.86, which was kind of hit a high of $2.08, and then dropped down quite a bit. So, $1,290.00 on that trade. Not trading with big size, just playing off the momentum.

The last trade was OMNT. OMNT squeezed up, was halted on a circuit breaker at $3.93. It resumes higher and you can see here, it had a high of $4.50, so when it pulled back here, I said, “Okay. I like it over $4.50. I’m going to go with smaller size, 2,500 shares.” Jumped in with 2.500, sold half at $0.66, sold a quarter at $0.95, and sold the rest at $0.49 breakeven. That added 475 bucks and that’s how you work your way from down six grand to back in the green. I mean, it was not the easiest day, but green is good. That’s where I’m finishing here, the day, up 1,200 bucks and we’ll see how things look tomorrow morning.

Hopefully, we see some good opportunities and there’ll be something that I can jump into out of the gates, minimize my risk, trade with slightly smaller size on those first couple trades until I see momentum and then see if I can work my way up to a $500,000 day, but I don’t want to go crazy and try to be really aggressive because the risk of giving back profit, it’s too high. Even today, I was thinking, “Geez. A $6,000 loss. This is going to make it really hard for me to hit that $100K goal. I just want to get over $100K, so I need to stay focused and not let myself get aggressive or get stubborn and just hold these as they’re going down further and further.”

That’s about it for me for this morning, so midday market recap. Anyways, we’ll do the webinar at 1:00 PM, so you guys who are registered, you can join me there. It’s going to be a lot of fun. I think we’re going to have a really good turnout, so hopefully you guys will be able to make it. I don’t know for sure that I’ll be able to produce a recording. The last webinar that we hosted, in the middle of the webinar, the whole thing crashed and lost my connection, had to relaunch it in a new platform. We had no recording for the last one, so if you guys really, really want to attend and you want to watch it, you’ll have to be there. If I can produce a recording, I will, but I just can’t guarantee it.

Anyways, that’s it for me. I will see you all in about an hour and a half at 1:00 PM in the webinar and the rest of you, I’ll see first thing tomorrow morning. All right, everybody, I’ll see you in the morning.

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