Warrior Trading Blog

Happy I Made $7k, Sad I Lost $5k

happy

What’s up everyone? All right. Today’s one of those days where I’m finishing in the green, but I’m not happy about it. Why is that? Will I’m up $7,000. Five, six years ago, $7,000, I would have been pumped about it. But what happened this morning is on my very first trade, I made 12 grand and on my next two trades, I lost $5,000.

I’m ending the day after two red trades, feeling a little bit bummed out. Yeah, green is good but 7000 isn’t as good as 12,000. What makes it worse is that I lost $2,000 in my IRA. I really couldn’t afford that. But it is what it is. Anyways, we’ll break it all down in today’s Midday Market Recap.

 

All right everyone, so we’re gonna go over our trades from today. Not an easy day. The life of a trader, to make $7,147.06 and still be a little disappointed with. Just still feel like I didn’t trade as well as they could have and 7,000 is not as good as 12,000. It was up $12,000 this morning on my, I don’t know, second trade, first trade, and gave back 5000 of it. That’s where the market is sort of always humbling you. It’s not all green. Yes, today is a green day, it’s a great day, but it’s not as good as it was at nine, whatever it was, 9:35. So, we’ll break down the trades here so you guys can see what went down,

Most disappointing part is losing almost $2,000 in my IRA. Really a bummer there. I push my luck a little bit and that cost me. We’ll go over this trade here and the main account, Main account’s up $9,087.06, which is not bad at all. That’s a good day and it’s thanks to here. So, HEAR, all right, let’s look at it. So, pre market, we only had three stocks over watch. CGIX was on watch, and that was because it was gaping up. We were watching it for a possible long over 1.40, but I said I don’t think this is gonna be the type of stock that’s gonna make a 30, 40 cent move. At best, we’re talking about 5, 10 cents. That’s really all we got. From 39, it popped up to a high of 55. 15 cents and then it faded. Didn’t really give us a great opportunity there. So, no trades on it.

Then we were also watching SSC. This one was on our gap scanner as well. Market opens and it sells off. So, it doesn’t trigger an entry over the pre market high, there’s just no trade on it. The third one was HEAR. This was not a gaper, but it was on watch for continuation because it was strong than Friday. I thought, “All right, if this can break back over $4, it’s worth watching.” As soon as the bell rang, I mean, as soon as the bell rang, it popped up. It opened and squeezed up to, let’s see,4.20. 4.23 and I jumped in with 15,000 shares at 4.19. I saw that and I was like, “Yep. This one’s breaking out on the daily chart, I like it. So I’m in.” 15,000 shares, 4.19. It pops up to 4.50, I add another 2500 shares to go to 17,000.

Being aggressive. No doubt about it. I am, but we’ve been in a hot market. Let’s look at my calendar. Today is my, let’s see two four six eight ninth green day of the month and nine 10 11 12, I think 12th or 13th green day in a row. I’m up about $80,000 in the last 12 days. If there was ever a time to take 15 and 20,000 share positions, this is it. So, yeah, I’m stepping up to the plate here. It pops up to 93, I try to sell half. I sell 500 shares. It drops down and then I decide to add another 2,500 at 89. For the break over five, I’m selling half at five. I’ve got now just under 20,000 shares selling half at five, more 5.01, more at 5.32, and then it drops back down. All right? So, that’s in this first candle right here and boom, I’m up $12,500. Or right around there.

So, a really solid trade just continuation over the previous day’s high. It worked out really well. But I didn’t take it in the IRA, mostly because the trade happens so fast and you don’t really have time. But as it pulled back here I was like, “Okay, I’ll get in on the first pullback,” and so I put the order in bought 4,000 shares at 4.94. It pops up to 5.31 and I sell, but this was my mistake. Instead of selling on the bid, I tried to sell on the ask. I only filled 200 shares. I’m gonna go in right now and I’m just going to take that hotkey away. Because I don’t wanna sell on the ask right now. I’m gonna delete the key and delete the key for L. Let’s see where is it. Maybe that’s the only one I have, so I’m just gonna delete that key for right now. Because what they sent … Oh, there is one right there. Delete key and it looks like that’s it. I guess I thought I had one for L, but I’m not seeing it. Yeah.

Anyways, here’s the problem. As soon as it filled 200 shares and it dropped, I was like, “Oh, no.” Because that would have been $1,200. Great trade. But it dropped and then I was like, “Oh, no. I only had one trade left today. So, if I cancel that order and sell again, I’m gonna be using up two of my trades and I’m gonna be breaking the three trade rule.” You get one pass, they call it … I think it’s a … I can’t remember what they call it, but they give you one pass and I’m gonna have to use that one pass because I ended up having to sell the rest down here at 4.41. I didn’t wanna have to take that hit. I wanted to use that, have that back card, that card in my back pocket that I could use it later for if I needed to. And so here, I only filled 200 shares and I was like, “Okay, I’m gonna hold this and give it a second.”

Yeah, it’s dropping down, it dropped down to 54. It popped back up here and I’m thinking, “Okay, if it first one minute candle makes a new high, this thing could go back to the highs. So, I’ll hold tight and give it a second.” In my main account, I ended up actually adding at $5 and then stopping out at 7.74 or 4.74. I added back in my main account at 4.80, and that was right. See, now we’re [inaudible 00:07:21] and consolidating, I added right here. Right on that candle I added for the break of a 4.85, we hit a high of 5.05 and then we dropped all the way to 4.35. It was a false breakout. Very disappointing.

There, I stopped out and lost $3,000 in my main account, went from being up 12,000 on the data, up only 9,000 and I had to take the loss in my IRA selling at 4.41. Now if I wasn’t restricted by the PDT rule, I would have just sold this break even at $5, right? I wouldn’t have had to think about, “Oh, if I sell I’m gonna take … I’m gonna be using that fourth trade and I’m gonna get in trouble. So, I wouldn’t have had any of that. I would just sold it would have been breakeven. But because of the PDT rule, I’m thinking, “Well, I don’t wanna take the loss.” I end up holding it and it turns into a $1,900 loss. So, I’m gonna open tomorrow back around 18,500, giving back all my profit from last week, which is really disappointing.

It’s just it is what it is. And, I can’t add more money on this account. It’s a retirement account. I’m limited to only being able to add 5,500 per year. So, I added 5,500 already for 2017 and I’ve added it for 2018. So, I started with 11,000 in this account and it’s at 20,000 right now. Well, 18,000. That’s the thing, I can’t just add money to get above the 25K, I have to work to get there. A little bit of a step backwards here, I’m disappointed on it, but it is what it is. So, yeah, here’s the day where I’m up $7,000 between these two accounts and I’m disappointed. I’m not happy with really the way I traded. I was a little too aggressive. I shouldn’t have probably gotten in that high. I should have just said, “You know, you missed it in the IRA, just leave it alone.” I pushed my luck and so that’s costing me a little bit.

Having said that, I’m now up $70,000 on the month of April, and we still have really two weeks left of trading. 10 days left of trading. So, this is now my fourth best month of all time. And I have an opportunity here if I get over 85,000 to make it my second best month of all time. If I get over 117,000, it’d be my best month of all time. I’m not setting my sights on 117, but I’d like to get above 85,000. 85,000 would make it my second best month and that would be pretty cool.

I think there’s a chance that maybe I could tap 100,000. I think I have a chance of hitting 100,000 this month. But today’s was, hey, well, 10,000 in the main account, $7,000 day is not bad. A couple more days like that, I’ll get there. I’m gonna have to probably take a couple days off of trading in the interactive brokers account, because I gotta catch up now. I’ve used up too many trades. So, this account’s probably done for the rest of the week. Maybe I’ll trade with it on Friday or something, but I did screw up there a little bit. Dug myself a hole, gonna have to climb out of it. It’s gonna take some time, but that’s just the way it goes. So I’m just making a note here, sold in two blocks. Whoops. All right. Just a reminder there.

Yeah. I’m glad that we saw a good opportunity on this out of the gates. It only takes one trade and today we got one really, really solid trade. But, Joe, yeah. I’m being more aggressive with trading more shares because the market is strong. I didn’t make $70,000 this month just because of larger share size. My average winners this month are 33 cents per trade. I can pull up my trader view stats, just so you guys can see them. My metrics this month are really great. I mean, they’re much better than they were last month. So, let me just show you in the reports view. This was up through, where was this?

This is up through Wednesday of last week. So, it doesn’t include Thursday, but whatever, close enough. So, let’s look here from April 1. All right, so average winners, $2,300. Average losers, 1200 bucks. That’s a two to one profit loss ratio and my accuracy is 79%. Now accuracy is gonna come down a little bit because of today, whatever, but this is really, really solid. So, very pumped about that. Let’s compare that to the month of March.

March, right there. Average winners in March, 1,000. Average losers 1,100. Accuracy, 76%. Net profit growth, well net after commissions 42,000. Still a good month, but the profit loss ratio is only one to one. So, that’s the difference. Is that the profit loss ratio is much better this month with similar accuracy, and that’s why I’m up almost twice as much. That’s really what it is. It’s when the wind’s at your back, you just want to enjoy it, capitalize on it, and I’m definitely doing that. So, I’ll continue to trade with big size this month until we start to see things turn around. All right. Yeah. And I’ll be here tomorrow.

Anyways, that’s about it for me here. Just wanted to give you guys the Midday Market Recap, and I’ll see you all first thing tomorrow morning. 9:00 a.m. 9:15 pre-market analysis. Hopefully, we find that another a couple of good trades and make some more money. All right, I’ll see you guys in the morning.

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