Finishing the 17th Green Day in a Row +1,164.63
All right. All right guys, we’re going to go over today’s trades. You guys should all be able to see the screen share. Those of you on Facebook Live, you can see my pumpkins. Those of you in the chatroom, I guess you can see them too, the pumpkins sets up. Those of you in the chatroom, we just did a little tour, a Facebook Live tour of the office, Warrior Trading headquarters out here in California.
You can see the way I’ve got my setup here, I’m using these USB monitors instead of the big ones. They’re just leaning against the big ones. I’m used to what I’m used to, so maybe I’ll set up the big ones later this week. For right now I’m just going to work with this. Okay, so let’s see. Finishing the morning up, $1,169.63, which is not bad. I was done for the day at 9:47, so with an extra 20 minutes a day can you make $1,000?
I think the answer is yes, as long as you have the strategy down. All right? So first trade of the day was I’ll scroll up here, RCON, R-C-O-N. This was on our watch list. It was a gap and go setup and very similar to EVOK yesterday. It popped up out of the gates. It retested pre-market highs, double tapping and then fading. I jumped in with 5,000 shares at 2.49. I’ll turn this around here. Two dollars and 49 cents was my entry, 5,000 shares.
That was right as soon as the bell rang. We popped up to a high of 2.66. I was scaling out at 2.64 because I knew retesting pre-market high was a potential level of resistance. Then as we dropped back down I sold the rest on the bid actually for a loss at 2.34 and 2.27, which is a little disappointing.
So in any case first trade, $300 right out of the gates. Three hundred is good, not bad at all. Then the second trade was USEG. Now, this one was on our scanners. It hit the scanners pretty early this morning as it popped up from $1.10 to $1.20. As it popped up there I was watching it at $1.20. I had an order ready to go, but as I looked at it I thought the volume was just a little too light. I wasn’t sure there was enough volume to really take a trade at that point. I’m not sure there was more than 200,000 shares of volume. It might have been like 150,000 shares.
I was like, “I don’t know. I’m interested. It’s on the scanners, but I’m just going to wait a second.” I paused and it then popped up to 1.47, so 27 cents. I decided to get in at 1.38 on the one minute micro pullback, which occurred just under the half dollar and I sold as we broke over the half dollar, at 55. I even sold a little at 59, only 41 shares.
Total on that one was $864, which is not a bad trade. Again, green is good. Not trying to hit home runs, just get those base hits. So that was my second trade and after that trade I lost my internet connection. Our fiber went down and by the time it got set up on my hotspot or whatever, I saw PTIE squeezing up from $4.06 all the way up to 6.50, which is a beautiful move, but unfortunately I missed it and I felt like by the time I saw it it would be chasing it to get in.
So I exercised self-control on that one, but I’ll show you guys a couple of really good entry points, which is based on the strategy that we trade every day and that I teach you guys. So the first one, first one to candle to make a new high at 4.70. This is an obvious entry point right here. Squeeze up from 4.70. It gets halted. Where would it get halted? It got halted right there. It squeezed up to a high of 6.19.
That right there was a great entry. You could have done a scalp right here on this first one minute candle to make a new high, long over six bucks for the move up to 6.30 and you could have tried to scalp over high of day, but really the cleanest one was the first one minute pullback after that fresh breakout.
So for those of you that took that entry, those of you in chat, who got that entry on the first one minute pullback at 4.70? I just want to see how well you guys have learned. There’s Reese, he says, “I did.” Frederick, “I did.” I did, after the halt. Held after the halt. I did. Nice, nice. Good job, guys. So those are good entries.
So you guys have learned the right place to get into these trades, which is fantastic, so even though I wasn’t there for that particular trade you guys got in, you knew the right entry, you took profit on the move up. So some of you guys I’m sure are over $2,000 on the day. I’m sitting at 1,100, which I’m happy with, you know? Green is good and I certainly don’t want to screw up my hot streak so I’m going to write it in the calendar, make it official.
Day 17 of the hot streak, plus $1,164.63 on the 193rd trading day of the year. So that’s going to put me up around 20, $26,000 this month trading for an hour a day, two hours at most. Nine thirty to 11:30, so you guys all know this but the market, it’s really incredible. We’re so fortunate to be able to make this amount of money trading from the comfort of our own home or wherever you may happen to be, do this sitting on your couch or laying in bed.
The thing is, and this is true with anything, if it were easy everyone would be doing it. So this is sort of the conflict is that on the one hand trading is easy because what are the alternatives? I could be mowing lawns, I could be … Even if I was working a nine to five office I’d be working nine to five and I probably wouldn’t … If I made $1,000 today and I was working a nine to five, my weekly salary would be $5,000 a week, $20,000 a month.
You know, it’s not that some people aren’t making 240, $250,000 a year, but that’s not the average salary. We know that. The average income, household income is $52,000, so to be able to make 200 grand with an hour a day and then you’ve got the whole rest of the day to do whatever you want. Now for me, this happens to also be my passion. It’s what I love, so the afternoon for me has always been well, what can I keep doing that’s around trading?
Whether it’s build trading, the fantasy stock trading platform or teach students how to trade, I want to do stuff related to the market. Some of you guys like John, you want to do things related to real estate. Jason does the same thing, so does Justin. Whatever your afternoon project is, whether it’s a second business, a hobby, it’s another opportunity to make some more money and to better your life.
So the frustrating thing with trading that you guys have all gone through is the fact that nine out of 10 traders are going to lose money. The success rate is only 10%. If you put 100 traders in a room, 100 total newbies in a room, only 10 of them would be profitable. The remaining 90 would lose money. That’s what happened to me when I started. I’ve talked about how much I lost, over $895,000 in losses. Those were real losses.
That’s basically what you’re setting yourself up for if you just come into the market and you try to trade on your own. You’re set up to fail. The market is not rigged to the advantage of a small retail trader like any one of us. In order to be successful we need to find an edge.
Now, the edge is a strategy, and so for me it’s a strategy based on momentum. I prove day after day that it works. The stock son our watch list this morning, RCON, 300 bucks a profit on that. USCG right off the watch list, $800 on that. So we find that needle in the haystack. We find those one to two stocks each day that have home run potential because we understand the characteristics of a stock that can make a big move.
The low float, the breaking news, squeezing up. PTIE, it was also on the watch list. That’s right, and it went from $4.00 to 6.50. Even though I didn’t trade it it was on watch. So it was predictable that that stock had potential. We didn’t know how much, but it had potential. The thing is once you master a strategy, whatever strategy it is, once you master one strategy you can be a profitable trader. From that point forward trading is easy because now you come in everyday, you sit down, you’ve got your daily routine.
You put together your watch list, you trade. End of the first hour you’re done and now you can go chill out and enjoy the rest of the day. So in that way trading is easy. What I do is very easy. The hard part is learning the strategy, number one, and number two, having the discipline to follow the rules. So one of the things we talked about early this morning is that let’s say the average trader, the average person who comes into the market has a 10% likelihood of being profitable, 10%.
The average trader in our chatroom who just joins the chatroom, doesn’t take any courses, whether it’s a trial or whatever, let’s say their average success rate is 50%. That’s five times better than average. It’s good but it’s still only 50%. The average success rate of a student who’s graduated from our Warrior Pro Course according to our last survey was 81%. Now you’re at 81%. How can you increase the odds even further?
It’s coming into the day focused. Making sure you eat well, you make your watch list, you create your plan and then you take a few minutes before the bell rings to center yourself. This is one of the things we talk about, the psychology of a day trader. Having that routine is so important. You prep yourself to, basically it’s like prepping for a fight every morning. You are fighting against the market.
You’re fighting against yourself. You’re fighting against your instinct to chase stocks, your instinct to sell your winner too soon, to hold your loser too long. Just like a fighter has to get themselves hyped up before the big fight, we have to get ourselves a little hyped up and ready before we trade. We have to have our daily routine. We come into the market, we get focused, we get an hour, maybe two hours of trading and then we’re done. I’m done. I’m not going to trade anymore today.
Sure, there may be opportunities, but I’m not going to trade anymore today. That has to be the way you approach this market. Once you get into that routine and you’ve got the strategy and you’ve mastered it, you’re going to be a profitable trader. It’s really that simple, so I’m really just so happy with all of you guys who have been in the chatroom throwing out ideas and helping beginner traders work their way up that learning curve.
I know that this is something that took me a lot longer than I wish it had. I wish I could have been profitable in the first three months, but I was self-taught. I did this all on my own and so as a result it took me 18 months before I really started to find consistency. All right, so in any case, I really encourage you guys to focus on your education. Focus on training yourself. You don’t go into med school and start doing surgery on day two.
You don’t learn how to do deep sea welding and jump in the water on day two. There’s a learning curve to all of this. So that’s why we built the fantasy stock trading platform for you guys to practice on, so you could learn to trade in a safe environment before you jump in and start trading with real money. Those of you in the Warrior Pro Course, I know you’re practicing on that simulator right now. I can login actually and see how many students we had trading on it this morning.
Let’s see, let me get logged in. One of the things that you’re going to notice with the simulator is that we’re going to have students trading on this who have just been, they’re just at the beginning of their learning curve, so the average success rate is definitely going to be lower on the sim. Oh, this is trying to pop up on one of the browsers, on one of the monitors I don’t have here. I never know how to fix that when that happens.
Because it’s trying to open on one of the browsers that I would use at home. See if I can get it logged in on this other computer. Yeah, there we go. All right, so I’ll show those of you on Facebook Live. Let me spin this around here. We’ll get that block. Let’s see. I’ve got to reconnect here. Wireless. Usually what we see with students on the sim is sort of a 50/50 split with those who have made money on the day and those who are red.
Let’s see, today we’ve got … Oops. We’ve got 419 who traded today and we’ve got, let’s see, 180, 174 who are profitable and then the rest who have lost money. So this is really good that those students who are losing money are practicing in the sim before going live because you have to practice just like anything else. Let’s see, daily net PNL. So yeah, we can see here, 500 bucks, 600 bucks. So these are students who are all, the ones who were profitable on the sim who are getting ready to graduate and start trading with real money.
This is exactly what you like to see. The students who are at the bottom who are still in the red, they’re working through the learning curve making their way into the green. So you’ve just got to keep working your way up that ladder until you get to the top. Then once you’re at the top try to help some people that ar a little further behind get up there with you. That’s what I’ve been doing here with Warrior Trading and with all of our students.
All right, so in any case I’ll let you guys enjoy the afternoon and I will see you all first thing tomorrow morning and hopefully we will have another green day, Wednesday the 25th. Then Thursday 1PM eastern we’ll host a free webinar for the month of October, all right? So I’d love to see you guys at that webinar, those of you watching on YouTube and Facebook. For everyone in the chatroom, I’ll see you first thing tomorrow morning. Okay, thanks guys. Bye.
Oh 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 any time I go live or upload new videos. Until then, happy surfing.