Warrior Trading Blog

Green, but Still Grinding +$334!

What’s up everyone? Alright, so here we are, another green day and it’s kind of funny. Today I’m up … Where’s my calendar? $334.24. So I made .45 less than I made yesterday. Yesterday was $334.69. So kind of funny, but you know, a green day, a small green day, but a green day.

 

The reality right now is that the margin for profitability is so narrow that it’s really hard. All of the trades I took today, they each had a minimum of $500 of risk. So if any of them had ended up just washing out, hitting my max loss, that would have wiped out the three small winners I had. I had a $55 loser. A couple of small winners and you know, $300 is great, but you don’t risk $500 to $1,000 to make $300.

And that’s kind of the problem. Yes, 75% success today is good, but I’m not seeing the big winners. And so it’s still a little bit of a grind, but progress is being made so up $700 this week. And I’m starting to build that cushion on the month of September. And that’s really what it’s all about for me. This is a much better start than I had in August. I’m making progress, I’m feeling good, confident, and just really kind of waiting on the sidelines to get aggressive until we start to see stocks opening up.

We didn’t see, so far today, any circuit breaker halts, didn’t see any yesterday. We’re not seeing that feeding frenzy, that exuberance in the market. So it’s still the time to be a little bit cautious, and just wait for things to pick back up. So anyways, we’ll break down all of today’s trades in today’s midday market recap. And as usual, any questions, any comments, leave them below, and I’ll come back through and answer them later today. Alright, enjoy.

All right everyone, so we’re going to do our midday market recap. Go over the trades from this morning. Another fairly slow day of trading, but a green day, $334. I’m making today .45 less than I made yesterday. But really, I mean, like almost the same amount, $334.69 yesterday, or was it .96? No, .69. Yeah. Yeah. So in any case, really almost the same day. So today I traded four stocks, and I’m green on three out of four names, which is good. Seventy five percent accuracy there. I only took those four trades.

So I’m fine with that. But definitely, it wasn’t that long ago that I was having $3,000, $4,000, $5,000 days back, to back, to back. So, it feels a little strange that I have a day where I, coming here I sit down, and the best I do is $300. It’s just a little unusual. But at the same time green is certainly better than red. And probably last month these would have been red days, because I would have kept pushing it. And rather than see the writing on the wall, that in the first 25 minutes I’m up only $300, I just would’ve kept trading, trading, trading. And the reality is for pretty much all of these trades, I was risking $500 to $1,000.

So if any of these had gone and right away drop down, I’d be down, I’d be red on the day. So that’s why to me it’s not really worth continuing to trade on CVM, taking $1,000 of risk to make $200. That’s not worth it. Right? You can’t. That doesn’t really work super well. Now yeah, when you have 75% accuracy, you can be profitable even with these really small winners.

But, but one loss can can wipe you out. And so that’s where I’m trying to be kind of mindful of the market that I’m in. Rather than have this tunnel vision of, “I’ve got my daily goal, and I got to keep trying to trade to get there.” I’m instead saying, “You know what? If it’s a slow day, that’s all right. I’ll take the $300, and $700 over two days and I’m going to use it to start to build my cushion on the month.” So, two days in a month, two green days, I’m alright with that. I feel good about that. That’s progress.

So, you can see the four stocks today, CVM, FCSC, VBIV, and SBOT. Today yeah, Andrew, MNKD the float’s too high on that one for me. A 100 plus million share float. Not really my cup of tea. So yeah. So gap scanners here. I’m going to go reset this to, let’s see, timeframe, historical date. We’ll run this gap scan for 9:25 this morning, pre market. So this is what I was looking at pre market leading gapper was PRQR. However, I didn’t want to trade this for two reasons. Number one, it’s above $10. So, that’s too expensive. Number two, it’s a five cent tick stock, so it trades in five percent increments. So, no trades on PRQR.

So, that one’s off the list. Next one down UTSL, not enough volume, we’re only 100 shares. That one’s off the list. VSELL above $10. That’s off the list. CRON, this is that marijuana stock, cannabis sector. It’s very volatile despite having $150 million share float. But for me the price is too high. No trades. NSU, float is too high. MNKD, float is too high. VRA, the price is too high. TIS, this one wasn’t even a gapper, this was some glitch on the trade idea scanner. So, that one’s off the list.

CORV, $4.95, 3,000 or 4,000 shares of pre market volume. A little bit of a gap. But I just wasn’t really sure about it. It was kind of a maybe. So this one is a maybe. COUP, too expensive. IGC, this one a little too cheap. The thing for me is that I make the most money between $2 and $6. So at $1.46 with a 27 million share float, is just not really something I would do well on, $1.46 with a 3 million share float, hat might be one that makes big moves but no. TRLY, no, too expensive, too expensive, too expensive, floats too high.

CYCC, this one it was a maybe, just not a lot of pre market chart to work with at the time. And then it opened lower. It did end up popping up, but I wasn’t sure about it. FCSC, alright, so this is the first one on the list that I end up taking a trade on, and it’s way down here. Usually I want to see a stock in the top three that looks good. And here we just, we didn’t have it. So, let’s see. Let me just check one thing. Alright, so FCSC here, pre market high is $2.60 it drops down. So it’s kind of consolidating here, and I’m sort of thinking if it breaks over this little pre market pivot here of $2.40, next target is $2.45 and then if it breaks, $2.45, looking at high end day.

So the bell rings, and we see some volume start to come into it. And so I jumped in at $2.39, for the break over $2.45. So on this one I’m in here at a $2.39 and $2.40. I sell 2,600 shares at .43, and then I sell the rest at .40. So it ends up being a $125 winner. I had the target of it first hitting .45, breaking that level and going to the half dollar, didn’t happen. So ends up that I stop out, but with profit. So on this one with 6,000 shares or what was it? Yeah, 6,000 shares. So I’m in at .39 and my stop is the low of this candle, which is .33. So I’m risking about .06, about $330, $360, or so.

So $360 to make $125, that risk reward ratio isn’t great, but my accuracy being on the higher side, I was able to capture a winner. Alright, so that’s the first trade. Next trade is SBOT. SBOT was on the gap scan, kind of towards the bottom down here. So further down the scans, I’ll clear these out, right here. And I was like okay, it’s interesting but it’s not in the top 10 of the gap scan. I’m not sure how many people are even going to see it. So anyways, the bell rings and it starts to pop up. And it pops up from $1.55, up to $1.70, and up to $1.80.

I jumped in kind of on a little micro pullback, that was happening right around $1.70. I jumped in at $1.70, a double at .75, it taps .80 and then I had to sell as it comes back down. So I lost $55 on it. I kind of just bought it a little high thinking it would continue. I needed to see it break that pre market high of .82 or .83 and it didn’t. So that ended up being just sort of a slow mover, not a very exciting stock. So I lost $55 on that. But with this one it started with 3,000 shares, risking .05. So I was risking $150.

By the time I added 6,000 shares, my stop was only .02 for my entry, so I was only risking $120. So with 6,000 shares risking $120, the potential was that maybe it’d be like a $600 winner or something like that. But that just didn’t end up happening. Alright, so next one, CVM. This one was also a gapper. Again, further down the gap scanner right here, $12 million share flow gaping up 7%, 6.8%. A little bit of volume, was watching it for a break in that pre market high.

And on this one you can see it kind of just wild how … Well I got in here at .95 for a red to green move, for the first candle to make a new high. So I got in right here on this candle at .95. You can see here on this one I took 9,000 shares. This is typically, this is the right price range for me to do well on. It’s at a $1.00, which I love. So I’m in at .95. Target is $3.05 $3.10. That’d be $900. So on this one I was risking $900 to make $900, and it pops up here to $3.05.

But it doesn’t hold that level, and it immediately comes back down. On this, I was able to sell 3,000 shares at $3.03. And I sold the rest at .95 and .96. So ends up only being $220. Again, risking $1,000 to make $220, not really worth it, but is better to make $220, then to just let it go back down to your max loss. Right? That’s not worth it. So that was CVM. And then the last one was VBIV. This one was not on my watch list. It just hit the high day momo scanner back here. You can see it starting to hit and take off.

I wasn’t really sure that it would do much. When it first hit the scanners at 2.18, it just kind of stalled out there for a little bit. That was like right here, and right here, and right here. And then as it broke over $2.20 it started to move. So I jumped in it at $2.30 but I only got a 1,100 shares. Filled my 3,000 share order, and I sold it at .34. So, you know, it’s just like a small win, small scalp. It hit a high of .40, but I just, it just didn’t really hold that level.

So, this is kind of the market that we’ve been in. It’s a little opportunity here and there, but we’re not seeing really good staying power. So I’m, glad that I’m finishing the day in the green. So all right here, let’s see, finishing, let’s see, plus $334.24. So that’s $220 on CVM $225 on FCSC, $44 on VBIV, and minus $55 on SBOT. So that’s the breakdown for today. Not the most exciting day, but green is good and I can be happy with that. All right, so, yeah, that’s about it for me. Yesterday we had our mentor session at 3:00 p.m. That was great. Today, there’ll be another mentor session at 3:00 p.m.

I’m not going to be hosting the one today, but that’ll be hosted by either Mike or Arsh, I believe. Roberto had his 6:00 a.m. mentor session earlier today. And yeah, so just kind of, in the grind right now, trying to make a little bit of progress. Happy to be green today, and we’ll back at it first thing tomorrow morning. Hopefully we finish up this week with a couple more green days, even if I only make $200 tomorrow, and another $200 on Friday, that’ll put me up like $1,500 on the week. And it’s a great start.

Yes, in a strong market I can make $5,000, $8,000, $10,000 in a single day. But that’s all right. Right now, trade the market you’re in. And you can make small profits. And if you can make small profits in this type of market, then when the market does pick up, you’re going to kill it. So, that’s the game plan. I can’t wait for it to pick back up. But right now just want to keep making progress. So I’ve updated my verified earnings for 2018. I’ll just grab this page for you guys. There’s this.

So this is updated with my profits from August. Alright, so sitting at $698,000 in the small account challenge, started with $583. It’s $698,000. I crossed over $700,000 and then I dropped back below it, which is a bummer, but whatever. Sitting up $363,000 right now on the year, which means I’ve made more than I made in the small account in all of last year. And we still have September, October, November and December. Still got four months left. So that’s really putting me in good shape for at least a half a million dollar year. Although $600,000 was the target.

So scroll down here to the bottom, these are all my statements from each month. So August statement right here, only made $1,300 last month. After commissions and everything was said and done, $1,355. So it was a wash, it was a break even month, basically. But a green month, which is good. And, it is what it is. Some months are incredibly hot, made $115,000 or a $117,000 in January. And this is a month that I’m flat. So my monthly average, what was it? $363 divided by eight months is $45,000 a month. Yeah, this was a month that’s below average obviously. Some months will be above average. It’s all about averages.

So you can’t get too bent out of shape, just looking at one individual day or one individual month. So trader view doesn’t show all of my fees. So, that amount is always just a little bit higher. This amount is from my statement. So 62% accuracy, average winners, $542. Average losers, $886. A negative profit loss ratio, because last month like we were seeing this month, lots of small winners. But then that one big loser, knocks me down. Largest gain, $4,300. Largest loser, $5,000.

So those were the high level stats for the month of August. And the August broker statements here, traditional account, that’s where I made all the profits. The IRA account, got zero trades for the month. No trades in the IRA. Didn’t see anything that I really felt good about. They took away a fee here and then they credit it back, right here when I emailed them about that fee. So, I’ve got a deposit of $100 or something like that, which is just the credit of that fee. So whatever. That’s fine. Yeah. So otherwise just kind of a sideways month. But sometimes, you go sideways before the next leg up.

So, that’s what I’m looking forward to. Alright, so that’s it for me. I’ll see you guys all back here first thing tomorrow morning, 9:00, 9:15 for our pre market analysis. Alright, see you all in the morning.

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.