Warrior Trading Blog

Finishing the morning +$6k in 30min!

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Finishing the morning +$6k in 30min!

Alright everyone. We’re going to do our midday market recap here. Hopefully the audio on this stream is better than the first try. You guys can let me know as soon as those of you on Facebook start listening. Anyways, finishing the morning up here, $6,298.50, not a bad way to end the week. This has really been quite nice. We’ve had couple of good days in a row.

Tuesday 5,000, Wednesday 2,500, Thursday 2,500, and here on Friday 6,200 so it’s about $15,000 in the last four days which is really awesome. So we’ll break down the trades from this morning. I’ll show you what I was looking at, what I traded. Really, my gains today were mostly from one nice big win on PXS, as you can see here. Although I had a couple of other trades as well.

So I didn’t overtrade today. I stayed pretty focused on A-quality setups and I appreciated John sending me a friendly reminder at 10 AM to scale down on my share side because it’s easy to be kind of in tunnel vision where you’re thinking, “Well, I’m up 4,000 bucks, 5,000, 6,000. I’m going to keep it going.”

The next you know, I’ll be up 8000, 10,000 or next thing you know, I’m break even on the day and that has happened more than once, that I’ve had a really nice stretch and then, boom, I give it back. So I decided, “You know what, it’s a good call. I’m going to scale back.” So my last trade was at 10:06 and that was when I closed out my last position. So 6,000 bucks in 36 minutes, not bad at all. Let’s look at the trades from today.

Very first trade of the day was on GLBS and this was my $223 loss. I got in, as you would imagine, for the break of pre-market highs. So I’m along 5000 shares at 1.99 and it didn’t really work.

It hit a high of 2.01 and then started to pull back and so I sold half at 98 for a one cent loss and and I sold the rest at 93 and then I jumped into this trade on SLNO and sold the rest of GLBS at 89 and 87 as it was dropping. So I lost 233 bucks on that and was immediately focused on the next stock which was SLNO. Also, on the watch list for a gap and go trade. An entry based on the break of pre-market highs.

You can see here the pre-market high was 2.40, right there, so there’s our pre-market high of 2.40. So I jumped in as you can see at 2.39 and 2.40. Unfortunately, I only filled 2,200 shares of my 5,000 share order. We squeezed up to high of 3.06 which, well, it would’ve been 2,500 bucks but, for me, only $1000. $1000 is still good.

I’m not going to sulk about making a thousand bucks in the first three minutes of the day but it was not the win that I was hoping it would be. Now this one also had a little bit lighter volume pre-market. I wasn’t sure it was going to work as well so maybe it’s better that I got a partial fill.

I was in at 39 and 40, selling at 84, adding back at 80, selling at 90 and 80 so, not the cleanest, added back at three and ended up selling, as it dropped back down here, to 89 and 93. I was trading it maybe more actively than I might on another day and I think part of that was because I didn’t get filled on my full order on the first and so then I was trying to make up for it by being a little bit more aggressive. So anyways, total profit, a thousand bucks, not bad. So it put me up around 800 on the day after my last trade on that one.

Then we had LMFA hit the scanners. So LMFA was a stock on the scanners. We had traded this one yesterday. Done pretty well on it. So I saw it popping up and I thought, “Yeah, I’m just going to jump on that momentum and we’ll see where it goes.” The entry on this, I’ll admit was not maybe the most obvious because I just sort of got in at 37 or actually 40 and 43. That was the same thing I did yesterday. As soon as it hit the scanner, I jumped right in. I didn’t even really wait. So that made me quicker to sell. I sold at 47, 49 and I guess right around there, 47, 41 and 49. So a quick $327.

But with that type of trade, I get in, I set a 10-cent stop and I try to ride the momentum. But I know that I’m kind of jumping out, sort of when the stock is already squeezed up so my risk is automatically going to be higher. Fortunately, on that one, it had the continued strength to go higher and so I was able to capture a little bit of profit. So got a little profit on that. We hit a high of 4.60 and as you can see it dropped down.

In the last trade was, or the stock I traded was PXS. Now, I had this on our watch list pre-market for a possible entry over 4.38. Why would I want 4.38? It’s because breaking over that level would have been and was the first daily candle to make a new high. So this is, although it’s not the cleanest bull flag, because it pulled back from all the way from 12, all the way down to 3.50, it’s more of a … Usually we want to see a bull flag not pull back more than 50% and this pulled back more than that. But it was still obviously a very volatile name and with this set up, I rally thought it would be worth the try.

So as it started to pop up, that spot I was watching was 4.38, I jumped in at 4.40 and 4.45. Oops, 4.40 and 4.45 with 2,500 shares. Then I added 5,000 shares at 4.80. This is the first time this week that I’ve gone up to 10,000 shares but I think this was definitely the one to do it. So that gave me 10,000 shares with an average of 4.61.

Now we topped 5.20 and so from 4.60 to 5.20 is, what is that, 40, 50, 60 cents, so that’s $6,000. I could have sold right away on that first spike and I didn’t. I held. It dropped all the way back down to 4.63 and I thought, “I wonder if I’m going to regret not taking some profit on that first move,” because I went from being up six grand to up $200.

So then when it popped back up to 5.20, I said, “Okay, this is the first one minute micro pullback right here and it needs to break over this level.” I had an order of 5,000 shares ready to add over 5.20 initially because I was thinking I might go up to 15,000 on this and try to sell the whole thing at $6.

But after that pull back to 60, I no longer was feeling really comfortable about adding and so as it popped up there, I put an order at 5.48 thinking I maybe able to sell into a squeeze. Obviously that didn’t happen. I had an order to sell some at 5.18, that didn’t happen so I ended up selling at 4.93, 5.07, 4.89.

So on that first trade, I made about 3,100 bucks which was good. That’s not bad. Obviously the trade didn’t work out as well as I thought because of how it dropped down there and the reason I stopped out was because of the way it turned around. So in this range here, right in this range, I went from being up $6,000 to if I had held it down 400. That’s a huge range.

Then back up, $6,000 as it squeezed back. Now, you don’t know if it’s going to squeeze back or go all the way back down to four. So I think I did the right thing there by taking the profit when I did and taking that $3,000 off the table. So I took the $3,000 of profit. It squeezes back up to a high of 5.36 and so you can see here I decided to add at 5.16, 5,000 shares. Selling at 5.24 and 5.28.

At this point, I’m just scalping. Scalping the breakouts. I’m not going to be able to position myself for a long hold because I already sold my good cost basis. So I scalped there, added another 500 bucks. Did another scalp from 5.38 up to 5.44. Did another scalp from 5.60 up to 5.70. Did another scalp from 5.70 up to 5.86 and another one from 5.87 up to $6 and the last one from $6 to 6.20. So what you’re seeing there is I’m getting in, I’m getting out. I’m getting in, I’m getting out. Taking the profit and getting out.

For me, that’s the way I usually trade these types of stocks that are going really strong because of how quickly you can get it and you look at this candle, this has a 50-cent range, it’s up and then down and then up and then down. Up and then down. If I’d held the whole thing, look, it hits 6.24 and then dropped to 5.52, that’s a 75-cent candle. So for me, what seems to work better is just being quick, get in, capture profit, get out. Get back in, capture profit, get out.

Obviously on this one, I would have loved it if this one-minute pullback broke 5.20 and went straight up. So if we could have just maybe skipped over this red candle, I would have been holding 10,000 shares from 4.61 and that would have been probably … Well, I mean, it could have been a $10,000 winner if I sold the whole thing at 5.60. So there was a lot of potential in there but that red candle, that ruined it for me, unfortunately. There are times where we’ll see a chart like this and then it goes all the way back down to four and I could have gone from being up 6,000 on the trade to down 6,000, stopping out at $4. I mean, that could have happened very, very easily.

So I’m just glad that I was able to have the discipline to be happy with the $3,000 and then be willing to get back in and you know what, got myself up to five grand on the name. So that’s not bad at all. Now, DPW, this one I didn’t trade, it was halted. But as you can see, dropping down, now halted, popping back up. These ones are a little tricky, trading out of these types of halts. So it resumed and dropped from 3.29 down to 2.81, hit a low of 2.20 and then turned around. So I’ll put this up, DPW. So halted at 12.33 in 14 seconds. So that should resume at 12.38 in 14 seconds roughly, DPW.

So typically on these, if you do that bottom bounce, I would usually be selling into the squeeze which might be up towards 2.80 or three. I would be surprised, I mean, I don’t know, I’d be surprised if it really goes crazy but it breaks over three and goes to 3.50 but I suppose you never know. So anyways, yeah, so that’s where I’m sitting today, up six grand. I’ll show you guys the December trading challenge. I want you guys to see where we’re all at. So let’s see.

This, as you can see, has not been an easy month. This has not been nearly as easy as the month of November. I’m recovering from the red day I had on Monday, nice bounce back so I feel good about that. I did go into the red on the month down three grand because I was green on Friday and then lost 3,500 on Monday.

But I bounced back here with 16,000 in the last four days. That’s good. Mike, he had that red day middle of the week. He hasn’t taken any, seen any good opportunities so he’s in the red still right now. Jeff hasn’t taken any swing trades yet. Roberto, some smaller trades. John, he had a tough start to the month as well, kind of the same as me. He’s been bouncing back but he’s kind of grinding a little bit.

Sam, a little bit of a grind. Shauna, let’s see where she posts today. That should be in red. Let me update that. Josh took a good loss on Alibaba. So you see on this day a number of students lost on Alibaba, the same one that Michael is trading. That was the one that was in play for students that like the large caps. On this day where I lost on PSX, several other students lost on that same one, PXS. John, some of these students over here have been a little bit more consistent, Raj, Jamie, David, Nate, nice solid consistency which is good.

I think that we get into this, it can be a little bit of a struggle with you have a really good month of, whatever the month is, happen to be a great month of November that you start just getting a little over confident and swinging for the fences and that can get you into trouble as you start the next month. But this is going to be interesting to see where we finish here. We’re kind of all grinding a little bit, not in as good a place as I was hoping we would be in but I’m happy to see the majority of us are in the green and hopefully the couple that are still on the red will be able to get themselves up into the green by the end of the month. That would be a good goal.

But it’s definitely showing that December so far has been across the board a difficult month and I’ve gotten that feedback from a lot of students trading in the chatroom and in the classes, things like that. DPW, yeah, I see it resumed. Hit a high of 63 and then dipping back down a little bit. So still choppy there. All right. So anyways, that’s about it for me today. I hope you guys all have a relaxing weekend, get some rest and I will see all of you back here first thing on Monday morning, 9 AM. We’ll start breaking down the pre-market watch list and hopefully we’ll have a better start to the week next week than we did this week.

All right, everybody. So that’s it for me and I’ll see you all on Monday morning. All right. 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 anytime I go live or upload new videos. Until then, happy surfing.