Warrior Trading Blog

Finishing The Morning +$4,015.32

morning

Finishing The Morning +$4,015.32

All right, everyone. Time for our midday market recap. We’re going to go over the trades from this morning. This is a great Monday. It’s a great first day back at home after a really nice trip to New York City last week. Finishing the morning here up $4,015.32. I really couldn’t ask for anything more than that on a Monday. Mondays in the last few weeks have been kind of slow, so to have a big Monday here is just a great start to the week. Let’s see. I’m just going to write this on my calendar, $4,015.32 on day 184. We’ll go over the trades from today.

I stayed very focused on base hits, scalping. This is what I said I was going to do. That’s what I put forth for the month of October, that I would be really focused, not trying to swing for the fences, not trying to get home runs and, as of right now, up $7,100 or $200, $7,300 on the month of October. I’m already in much better shape than I was for all of last month. September was my second month that I closed red for 2017. When you close a month red, the bar for success becomes very low. It’s just, can I be green so, now to be back in the driver’s seat five days into the month, five trade days into the month, up $7,000 is really good.

I’m still recovering a little bit from a couple of big red days that I had in the last week of September. I got overly aggressive. I got frustrated. I let my emotions get the best of me, and I didn’t trade my plan. One of the things that we talk about all the time is that trading itself is easy. This is a very easy job, compared to other things that I could be doing. It’s an incredibly easy job. I’m just sitting here in my chair and made $4,000 in 30 minutes this morning, but it’s only easy once.

Number one, you understand the rules and, number two, you have the discipline to follow them. Having the discipline to follow them is the hardest part. That really is the biggest battle because I can teach you the rules. I do. I teach everyone in our Warrior Pro course the rules to success in this market. Now, you have to follow them. I can do as much as I can in our mentor sessions, coaching you and encouraging you to meditate and to exercise and to eat healthy because those things all help you be a more disciplined person but, at the end of the day, it comes down to you and your ability to follow the rules.

Even for me, I have these ebbs and flows. I go through periods where I’m really, really good. I’m following the rules. Everything is right on and then, after a period of following the rules for three weeks, four weeks, you get into this groove where you’re like, “Wow! I’m following the rules. I’m really consistent. I’m making good money,” and you start to get a little complacent and then, all of a sudden, you have a moment where you’re tested.

You’re at your max loss and, after five weeks or six weeks of really good trading, you have to say, “Well, am I going to cut the loss the way I’m supposed to, the way the rules say I have to, or am I going to hold it and give it a little more room?” Once that discipline muscle has gotten a little weak from not having to exercise it, it’s very easy to say, “I’ll just hold it a little longer. I’ll hold it a little longer.” The next thing you know, that one trade gives back one week, two weeks, three weeks of profit.

It’s happened to me 100 times. It’s happened to many of you guys, as well. Every day we come into the market, we have to be really bringing our A-game. We’ve got to be super disciplined. I know that it’s not always easy, but it really is the difference between being successful and struggling.

With that said, today, our big gapper was CLNT. CLNT, the number one leading gapper this morning. It was gapping up like 43 or 40-something percent. Pre-market high was $6.26. You can see this consolidation right underneath the open price, right underneath the pre-market high. We’ll bounce back here to the open, and I’ll show you my very first trades. Those of you on Facebook live, you can see my P&L here today, so that means tomorrow morning, I’ll be up over $70,000 in my account, which is going to be great.

This is our pre-market chart on CLNT and, right out of the gates, I was looking to get in for a scalp. The open price was $5.70. The low was also $5.70, so we opened, and then we basically surged right up. As I saw that volume surging up, I just jumped right in, as you can see here, at $5.95 and $6. I actually thought I was getting filled in the 80s. I thought I pressed at much earlier, but it ended up that my order was at the top of my limit. Pre-market, I had an order here at $6, so I just typed in $6, 2500 shares, and that’s all I did. I was ready to go.

We pop up here. I sell half or a quarter at $25, more at $17, and then I stopped out, the rest break even. In this 20 seconds here, I was able to make a thousand bucks, but I lost my internet connection. It wasn’t exactly losing my connection, but everything was lagging on my system, so I couldn’t tell if my orders were getting executed. I couldn’t see the current level 2, and that was very frustrating.

What I ended up doing is, I stopped out of that trade. I then ended up getting back in at $6.85 which was, on this one-minute consolidation right here, on the one-minute chart, getting back in at $6.85, selling on the move up through $7.24 and $7.57, noticing again my internet was causing an issue so, at that point, I restarted my computer quickly.

I restart, I get back on, and I take a trade on HMNY. At this point, I was up $1,700 on CLNT. Now, I take a trade on HMNY. This was based on the one-minute chart consolidation under $17, so I jump in at $17. It pops up to $17.15, drops down to $16.90. It pops back up, ends up going as high as $17.55. I stopped out $17.13 and $17, only made $163 on that trade. It wasn’t really that impressive.

Then, I jump into ANY. I saw ANY squeezing up. It was on the scanner. It had pulled back, did a nice little consolidation. I thought, “Okay, I’ll jump in this for the first candle to make a new high. I jumped in a little on the high side, about $.10 higher than the proper entry. Proper entry would’ve been at $.38. I got in right here at the half dollar of $3.50. It popped up to a high of $3.66.

The high today was $3.70, so I was looking for high day test. We didn’t get that test, and we dropped back down to $.31, and I ended up stopping out of it down in the $.30s because I felt like I was getting too close to hitting my max loss. My max loss on this was at $3.28, the low of this pivot so, as we dipped down to $3.31, that’s when I sold. I ended up losing $966 on that trade, which was a little disappointing because it then ended up going up to a high of $3.95 but, following my rules, sticking to the stops was the right decision, so I stopped out.

During that time, I got back into CLNT at $7.79. $7.79 and $7.80 and selling on the move up to $8.10. That was a really clean trade. I’ll show you the one-minute chart on this one. This was at 9:45 through this consolidation rate here. In here at $.80, selling on that pop up to $25, my best exit was at $8.10. High of day was $8.25, so not too bad there, stopped out coming back down, stopped out of ANY right there as you could see. Let’s see. I got back in CLNT at 10 a.m. for the first five-minute candle to make a new high, which was a good setup, but it didn’t end up working out.

Entry was at $.50, anticipating the first five-minute candle to make a new high. We popped up to a high of $7.80, so I was selling at $.67, $.61, $.64, and then I sold the rest at $.65, so that was another winner. Then, I got back in at 10:48, the price was $7.40. This was because we were curling up here on the five-minute chart, breaking over this pivot right here at $7.44. I got in as you can see here, getting filled at $7.40 and $7.48. We go up to $7.58. I tried to sell, canceled the order, decided to add at $7.59, thinking this might pop up back towards $8. We ended up hitting a high of $7.85. It didn’t go as high as I wanted it to, but I took the profit in the $.60s.

In total, finishing the morning, up $4,817 on CLNT, up $163 on HMNY, and down $966 on ANY, so $4,000 is a great start to the week. That right there is absolutely my weekly goal. If I could do $4,000 a week, that’s $16,000 a month. I am perfectly content with that. That keeps me on track for right around 200K a year, but hit it in one day is fantastic. That puts me in the driver’s seat now for the entire week. Now, for the rest of the week, I really don’t have to stress. I can focus on the A-quality best setups, CAPTCHAs, base hits. If I can do $500 here, $1,000 there, get the week up to $5,000, $6,000, $7,000, that would be a great week and then do it again next week.

Today, I was not focused on trying to hit home runs. I didn’t hold and hope. I got it in and, when I had my profit, I started scaling out, paying myself when the trades were green. CLNT’s still up 116%. There’s a possibility this will be in play going into tomorrow. We’ll see what levels it holds. This morning, we’ve got a little bit of a wedge forming here but we, overall, are holding up fairly well. Got the chart right now looking like this. The longer we consolidate through this range, the better. Of course, we have several hours before the close, but we may see a breakout this afternoon or may just decide with consolidation a little of dip down, and then move a little bit higher going into tomorrow.

Not uncommon that we see that HMNY has been doing that type of thing here from $4 up to $18. It just keeps grinding higher. It’s really quite impressive. Even though swing trades would feel very extended on these pullbacks, each one of them has worked out really well. The thing is, you never know when a stock is going to do this type of thing and when it’s going to do something maybe more like CNET where it’s strong on the first day and then, the second day, it just totally gives up those gains.

In any case, finishing the day here right around 11:30, coming up towards the lunch hour, so very happy with these gains. Going to put them in my pocket and not give them back and just enjoy the afternoon. It’s a little bit rainy here, but try to enjoy the afternoon and then come back first thing tomorrow morning ready for another strong day. I will see all of you first thing tomorrow morning. Bye, guys.

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!