Warrior Trading Blog

Finishing The Week Green! +$539! | Ross’ Trade Recap

Ross_7.26

What’s up everyone? All right. Mission accomplished, finishing the week with another green day. That means I’m green four out of the five days this week, one red day. I typically allocate one red day per week in terms of when I’m thinking about my profitability on each month, so four red days per month. The problem is, oftentimes, I’ll have a five, eight, 10 day hot streak and then I’ll have two red days back to back, maybe a small green day and then a third red day. My red days almost always get clustered together. This month, they seem to be clustered towards the end. Being red last Friday, no, I don’t know, I can’t remember.

In any case, they get clustered together a little bit. That’s typical of hot streaks and cold streaks, but kind of coming out of it with three consecutive green days. Hopefully we can make it a fourth, fifth and sixth consecutive green day by finishing the month with three more green days next week. That’s the goal. I hope you guys really enjoy the weekend. Get into the comments, leave them below, questions, whatever, I’ll answer over the weekend. Check out some of the old videos, some of the archives that we’ve got uploaded, some really good educational stuff in our channels. Hope you guys enjoy, I’ll see you first thing Monday morning.

All right everyone. We’re going to do our Midday Market Recap here, go over the trades from today. I only took three trades today, so a pretty slow day overall. This was Wildcard Friday and you just never know. Sometimes Fridays we get great opportunities, sometimes they’re slow. This was a slow Friday. REKR was the only stock I traded. I took three trades on it, but making only $539. The first trade, the first opportunity on it was a, I guess, a break of about $5 here. It squeezed up to five, but I didn’t take that trade. I was not sure about it. The trade that I took, let’s see. Now, I’m trying to remember, where’s my first trade?

Yeah. The first one was right here, so this was the first five minute candle to make a new high. I took that trade, but I made only about $230 so it wasn’t super impressive. I then got back in right here for the break over this level, and you can see this nice kind of like curling shape. You’ve got this consolidation. Then, we’ve got these two spots break over this level and made another $600. I was up at that point about 900. Then, we had this pullback right here and I got in one more time. As it popped up, it double topped at the high of day instead of breaking through that level. I stopped out with about a $400 loss. Only $539 of profit, green on two out of three names, two out of three trades. Not bad, 66% accuracy. I’ll take it. Any day I can finish green is a good day.

I had set low expectations for today that this was probably a 500 to a $1,000 day type of market. Hey, maybe we would get a wildcard trade. Something would really open up and I’d be able to get that big, big win. I wasn’t swinging for the fences today. If I’d been swinging for the fences, I would’ve been much more aggressive on this stock. Most likely, I would have been red on it, because I would have been holding instead of selling as soon as I saw weakness. In a strong market, sometimes you get a moment of weakness and then it rips, so you’re fine holding. In a weak market, people get a little nervous and then they jump out and then, next thing you know, the stock’s coming way back down.

That could have easily been a good size loss. That’s not something that I needed today. I started the week green with $267 of profit on Monday. I peaked on Wednesday at $3700 of profit, and now going to finish here Friday with $539. Mission accomplished to close the week with one more green day, so I’m happy about that. We have three green… Well, we have three days left in the month of July. Hopefully they will be three green days.

Obviously July has not been the big green month I was hoping for. I had about a, let’s see, one, two, three, four, five day, six day cold streak that began on Friday the 12th and carried through last Thursday. Then last Friday, I didn’t even take any trades. I was in California last Friday. I didn’t see anything that looked good, and so I just didn’t end up taking any trades at all.

Monday, very slow day, $200 from me is a tiny green day. Then, Tuesday, I was red. Really, the cold streak was from the 11th until the 23rd, or the 12th to the 23rd, so like a one, two three, four, five, six, seven, eight day cold streak. During that period of time, it looks like I lost, well, that put me down 8,000. Then I was, let’s see, down only five. Then, I lost five, was down 10, so I was down about $12,000 over that streak of red days. Kind of digging myself out of the hole a little bit here, but made some good progress Wednesday, Thursday, making 5,000. $500 today is another step in the right direction. If I make 7500 in the next three days, then that’ll put me back at all-time highs for the month of July, which would be great.

If it doesn’t happen, that’s also okay. Got to try to keep focused on the horizon, the big picture and not get sucked into staring the down wave as you’re going down and then staring at the sky as you’re going up. You just got to level out. You get used to it though, the more times you’ve been through these up and down cycles and hot and cold cycles and everything else.

REKR, a little disappointing that we doubled topped at 35. What I liked about this one potentially was it’s a recent IPO breakout. You can see how this IPO back here with a all-time high of 550, I’ve got to move that up, so 550 is our real breakout spot. This has really made a nice move here in the last few days or last week and a half or whatever.

Increasing volume, today will probably be highest volume of all-time by the end of the day if I had to guess. We’re only the first hour in and we’ve already got this much volume. Definitely moving in the right direction there, but just not enough momentum to get through those highs. Maybe it happens later. The longer it consolidates under these levels, maybe we do get that break, break of 550 all-time highs and move quick, move up to $6. I don’t know, we’ll see. I’m not going to stick around for it.

I’m going to take my money off the table and make it another green day. We’ll have about 56,000 in the account starting on Monday morning. One of the things that I did mid-month was I took $75,000 out of my account. I was up around 125, 130. I took a lot out and I just said to myself, “You know what? I don’t need to have this much money in my account. It’s just sitting here. I don’t need it.”

These stocks are marginable, REKR is marginable so I can use margin on all of these. I’ve got $200,000 of buying power, 220,000, so I still have more than enough buying power. Now, occasionally, we’ll see a stock like this one, YGTY. This one, I can’t use margin. It says 100%, which means I can only use my cash. At a dollar, I can still buy 50,000 shares. I have more than enough cash in here right now.

If we had a stock like BPTH start to really take off, this is where I’d be a little restricted. I’d only actually be able to afford about 4,000 shares. You know what? This time of year, that’s a good thing. I don’t want to go into this with 10,000 shares, because that can give me a quick 10 or $15,000 loss. Taking money out of here was my way of slowing myself down a little bit. At the end of this month, next week, I might take a little more out. I might drop myself down to 30 grand. I’m not sure.

That could restrict me and there could be a day where I am actually like, “Oh man. I’m not making as much money as I could because of how much I took out.” However, August and September statistically are my slowest months of the year. If I have a really big red day in August or September, it could take weeks to recover from it. I don’t want to put myself in the position where I’m spending the entire month of August digging myself out of a hole. That’s going to give me a flashback to years ago when I had that red trade in the beginning of August, spent the rest of August listing things in my barn on Craigslist and trying to figure out what the heck I was doing with my life.

I’d really rather, if I could, spend the month of August just, I don’t know, trading for an hour in the morning and working with some students in the afternoon. If I make 500 to 700,000 a day, that’s awesome. If I lose 500 or 1,000 that’s a bummer, but it’s not going to kill me. Let’s look back here on my reports view, this is reports view detailed. This is my profitability by month. Now, the thing about this that’s deceiving is that it includes this year. Let’s go just through July or June of, sorry, January 2019 so we’ll cut it off of there. This will show you the last three years.

The last three years, ’16, ’17 and ’18, did I make money in August and September? Yeah, I did. Three years at $30,000 is 10,000 a month. All right? August, three years at 48,000 is like 12,000 a month. Yes, I make money, but not a lot, certainly compared to November, December and January. I don’t really need to be trading with big size to make $10,000, so let’s be realistic. What’s the goal for August for me? I don’t think I should set it at 40,000. I think if I set my typical 40,000 monthly goal, I’m being way too aggressive.

I think I should set a goal of, well, 15,000, maybe 20,000 is optimistic. If I beat it, that’s awesome. If I come up short, that’s okay too. To set a really aggressive goal, I think, would be unrealistic. I encourage you guys to kind of think that same way. Again, I’m just one person. You guys may have different metrics than I do, but I typically hear about people saying August is a slow time of year.

If there was ever a month you were going to rent a house in the Hamptons and get out of here, it would be August. September, I think this is just, I don’t know, it might be because August is typically slow. Then, I get frustrated in September and I start to get lower patience. I’m more apt to try to home run trade after four weeks of slow trading and then get myself an unnecessary loss. I mean I know this is a result of a couple of really big losses I took in September. I think that that’s maybe more of the month of August wearing on me and throwing me off my game. Then October, I come back strong, 100,000, 30,000 a month. November, over the 40,000 month average. For November, I should expect to be getting close to 50,000.

Let’s see, yeah, three years. That’s 55, that’s $60,000. My average in November is $60,000 a month. I should be setting the goal pretty high there for November. It’s my best month of all-time. Anyways, so just putting things in perspective here and this is a lot of trading data. In order to be able to draw these conclusions about my trading, I’ve had to do a lot of trading. If I go up through now… I don’t have all my trades of all-time imported here. I only started using [Trader View 00:00:12:54] in 2016. I’ve got ’16, ’17, ’18 and ’19, so three and a half years of trading, $1.5 million of trading profits, 70% accuracy. One-to-one profit loss ratio could be better but, hey, can’t complain about the 1.5 million.

When I say Friday’s the day I’m most likely to take off, it’s because I know I make the least on Fridays. When I’m aggressive on Monday, Tuesday and Wednesday, I know that those are usually pretty good days for me. When I say I only trade between 9:30 and 10:30, it’s because I know that’s when I do the best. I stop trading past that time because, I guess it was really more in my early years, that I knew that that was when I had red. Anyways, that’s it for me. I’ll be back at it first thing Monday morning. Hopefully, we see some good follow through and hope you guys really enjoy the weekend. All right, see you guys on Monday.

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