Warrior Trading Blog

Four Times My Daily Goal! +$8k | Ross’ Trade Recap

Ross_9.10

Hey, everyone. All right. Well, here we are Tuesday morning, finishing the day up over $8,000 which is awesome. Four times the daily goal and 16 times what I made yesterday. Yesterday I was only up $500, and actually yesterday I had over $300 in commission. So I was churning shares, I took about 60 trades getting in, getting out, getting in, getting out, and all of that wasn’t really for anything. It was like swimming against the current, and I just didn’t make a lot of progress.

Today, on the other hand, was like swimming downstream, just jumped in, jumping out with some great progress. Four trades later, four winners later, 100% accuracy and booking some profits. So now back to all time highs for the month of September and we’re not even halfway through. So it’s still two and a half weeks left in the month, I think. You’ll see a solid, yeah, two and a half weeks. And then we’ve got Monday the 30th, which is nice. So we’ll have one extra Monday, five Mondays this month. Mondays are usually a good strong day. Well, not this week, but typically they are a strong day for me. So anyways, as always, questions and comments, put them below and I’ll see you guys first thing tomorrow morning, live streaming. Hopefully we’ve got another solid watch list and can have another green day. All right, see you tomorrow.

So we’re going to do our midday market recap and break down the trades. I’m going to finish the morning up $8,230 which is not bad. Plus another 178 here in my IRA account. Let’s see. Now how do I get that to load? There we go. Another 178 in the retirement account. And one last trade on FRAN. I didn’t want to screw up kind of a good day here and I was a little bit conservative on my share size, but it didn’t really work out. So anyways, we’ll finish the day up over four times. My daily goal, which is as always a solid green day. That’s something I can feel pretty good about. And this puts me back now at all time highs for the month of September, which is terrific. So moving in the right direction here. Today, I took a total of four trades. Four… Well, it depends, I guess, on how you quantify a trade, but four trades. Let’s just say four trades, and let’s go over each of them.

So three trades on FRAN and one trade on NSPR. Okay. So the very first trade today was on FRAN. Now FRAN is kind of interesting. I’ll go to time frame here, historical date and time, and run this at 9:20AM. This stock was up 88% pre-market, literally up 88% pre-market, 2.6 million shares of pre-market volume. It’s priced just under $10, the float of 2.8 million shares. So those of you who attended the workshop last night, I covered my five-point criteria for a stock, in my opinion, to have the potential to make a big move. We look at price, above average volume, float, breaking news today, and up at least 5%. And this hit all of our criteria for that. The only thing about this one that I was a little unsure about was that I almost thought it might have too much volume and that it might be a little bit crowded just because there were so many people already trading it before the bell rang.

Now, as you guys know, I don’t usually trade past 10:30, 11:00 AM. I trade in the first hour; that’s when I make the most money. And because I often find that after the first hour stocks can start to get a little crowded, can start to get to be a little tug of war, and it just doesn’t seem like we see the big breakouts that I typically would like. Well, on FRAN, it kind of started trading at 7:30 in the morning. So by 9:30, it had already been pretty actively trading for two hours. So by the time the bell was ringing, this was getting to be a bit on the crowded side.

For those of you guys on Facebook and YouTube, I’m going to put up our disclaimer here so you can see. This is to remind everyone that everything you see in these videos is educational. I’m not a financial advisor. I can’t give you individualized investment advice.

All right. So FRAN, for me, I thought it was a little too extended for my strategy, but I was willing to take a couple of trades on it. And so let’s go back up here. The first trade on FRAN was a long. I went long for the breakout over $10, and this was kind of crazy because the bell rang and this stock just like ripped up. Let me move this over here like this. So I placed two orders to buy at 10:09 and 10:12. Let’s pull up the 10-second chart and just dial this in a little bit more. All right. So back this up here, go back to the open. So the bell rang, and for a moment it hesitated under $10 and then it ripped within seconds up to 10.40 and I pressed the buy button twice. Boom, boom.

And if you remember, this morning I said, “Okay guys, I’m going to put my order at…” Do you guys remember what I said? $10.12, 5 cents above the pre-market high. And so the bell rings and I click the buy button twice. Now, because it ripped up to 10.40 so quickly, I only filled 3000 shares at 10:09, and my order at 10:12 didn’t fill. Now when you place an order at 10:12. Like right now; if I press the buy button, I’ll get filled at 9:08. I’ll get filled at the current price, but I won’t get filled any higher than the top of my limit. So my first order was below and then the second one didn’t fill. It didn’t go through. Now this is good, because if I had pressed shift one and shift one, I would have definitely filled up here in the 10.20s, 10.30s, maybe even 10.40, and that would’ve been a solid 30 cents higher.

Now with 3,000 shares, or filling the full 6,000 share order, we’re talking about thousands of dollars of slippage and that’s not acceptable for me. So what I did was I entered my order in the order entry window for the most I was willing to pay. I pressed the buy button twice, one order filled and the second didn’t. So I only had 3000 shares. I sold it at 10.33. It hits a high here of 10.44 and then it kind of struggled at the half dollar. And I really wanted to see a red-to-green move. And so I was looking for that first dip. So as it starts to drop right here, it kind of hesitates for a second. I went short. And so I shorted 4,500 shares at 36. So on the left side here, I had my order at 10:12 to go long.

And on the right side I had an order right here to go short. I put it in for 1500 shares because I’m not as confident trading to the short side and I wanted to be more conservative. And the order here, I think I had pressed at 9:50 because I thought potentially if it broke this level pre-market, I could go short on a break below 9.60 or so.

So anyways, it dips here and I short 4,500 shares at 10.36, and I cover 10 seconds, 15 seconds later at 10.03, 10:05 and 10:04. Boom. My work is done. I’m up $2,148 in the first minute of the day going long, then flipping short, and then, boom, it ends up ripping back to the long side. All right, so ripping back here up to a high of 74, I wanted to buy right here.

But the way I trade, I’ve got this window down here and I’ve got my chart up here. And so I brought my mouse up here to check the high of this candle. 10.44. And by the time my mouse was back down here, this was already breaking that level and it was up at 10.70. So I was like all right, well, I guess I missed that one. I’ll watch for maybe a pullback, but I ended up not getting the pull back and it just ended up pulling back and dropping more.

So that’s two trades, one long and one short. Win and win. All right, so solid. And then my last trade on this was on the one-minute chart on this pullback right here. So this, at about 10:15 started to curl back up, pulled back. It then ripped up here to a high of 9.86, but didn’t hold that level and came back down.

So that is where I made some money in my IRA account. But only $178, so not what I would call, by any means, a home run. So let me pull this back up here. All right. So 178 in the IRA, whatever, that’s fine. And then this is the good one. So $2,000 on FRAN.

And then we had NSPR. Now, NSPR, if you asked me last night, “Hey, what do you think of NSPR?” I would tell you that NSPR is a stock with a very low float that has a history of making big moves. Because it’s up here in my master archive of former runners, stocks that have a history of making big moves. Other stocks that are up here: the shipping sector stocks, DRYS, GLBS, EC, SHIP, DCIX. Did I already say that one? Other stocks that are up here: LEDS, DFFN.

 

Full Recap On Youtube!