Warrior Trading Blog

In a Little Slump -$5K | Ross’ Trade Recap


What’s up everyone? All right, so Red Day Recap. Third red day out of last four trading days, definitely a little bit of a slump here and looking to break out of it. Fortunately, I haven’t given back a whole lot of profit. Today, I’m down $5,000 but, yesterday, I was green so that made up for the loss last week. It’s just kind of a grind right now, and I’m looking to break out of it first thing tomorrow morning. We’ll see.

I’ll be streaming, 9:15, the watch list and hopefully we see a gap or it actually holds the momentum. IMRN, FRAN, the two gappers this week, they just didn’t hold the momentum. Maybe have to sit on the sidelines a little bit until things open up. That’s okay, done that before, I can do it again and we’ll see how things look tomorrow morning. All right, see you guys first thing in the morning.

All right, so we’re going to do our recap here for today. Today’s kind of a frustrating day because just not a lot of follow through. The stocks I traded, CAPR, FRAN, GHSI, ANIX, none of them really gave me the breakouts that I was expecting when I traded them. We’ll start with CAPR, which is the only stock I’m green on. This one I took two trades on.

The first one was a trade right here at 685 as it was squeezing up, breaking through the pre-market high which was 75. Squeezed up to 699, made only about ten cents per share. I then got back in right here for the break over seven. It double topped at seven and couldn’t break. This was a setup that I basically failed on twice, but was able to make $1100.

GHSI, I took a bunch of stabs on this one. I mean I traded it starting down here. I traded it again going into the halt. The halt opened lower. Actually, it opened flat and then dropped to 206 and I stopped out. It then rips back up. I got back in right here for the break over the half dollar, but it only broke the half dollar by five cents to 255 and then dropped back down to 226. I stopped out again. It then rips back up, I didn’t get back in here. I then got in for the break over three, and it does another false break hitting 305 and then dropping back down.

The trouble on this one for me was false breakout here, false breakout here, a false breakout coming out of the halt here and a false break of the half dollar here. Very choppy action. Now, not to say that it’s not grinding up. It’s a little frustrating to be down $1500 on a stock that is grinding up, but just whipping around and not giving the breakouts at the places where I would expect them. That’s disappointing.

FRAN, I took two trades on this right out of the gates. The first trade was a break over five and squeezing up to 530, profitable. Got back in at 525, hits a high of 538 and then I stopped out and gave back the profit I had made. Went green and then went red.

ANIX, on this one, I hesitated to get in coming out of the halt because I thought, no, this is kind of risky. Then, it actually started to squeeze up here and I did jump in thinking it was going to get up over the half dollar. Then, I got stopped right out. That was a bigger loss, that was the only one that was a little bit bigger. That was one of those ones where I should have been more careful on it, but it did have news. I didn’t jump in right out of the halt. I waited for 30 seconds. Then, as it curled up, I jumped in.

Kind of a frustrating day to be down 5,000 while GHSI is up 200%. The strategy that I had or applied to it of trying to scalp the breakouts on this one just didn’t work. I had a great day yesterday. Today’s a little bit of a setback, so kind of still, I would say, in this choppiness. I was hoping not to have another red day this week, but I was red Monday, green Tuesday and now red again here, Wednesday. It’s just part of the deal with trading. You got to take it in strides. I’m not going to worry too much about it. We’ll be back out first thing tomorrow.

Of course, the nature of being up and down 5,000 right now is part of taking large share size, 12, 15,000 shares. I was trading 15,000 shares on GHSI, so that’s actually only a ten cent loss. Just a little bit disappointing. I might come back and see that the stock hit $4 later today and just be annoyed and frustrated, but can’t keep trading once you hit max loss. You’ve got to follow the rules. Following the rules on it and on my daily max loss, which is up to 5,000 right now because of the share size I’m trading with. Thrown in the towel, but I’ll be back at it as usual first thing tomorrow morning. Hopefully, we see better momentum.

This week, we’ve seen a trend where the leading gapper, FRAN, selling off, IMRN selling off. Not seeing the level of follow through that I like but, of course, like everything else, it’s ebb and flow. We have amazing days, and then we’ll have days that are choppy. At the end of all of that, as long as you’re averaging green more than red, you will do well. I certainly am, up over quarter million dollars this year and still tracking for that half million dollar annual goal. You can’t get so fixated on an individual day that you, like on GHSI, just start aggressively just revenge trading it.

You know what? Maybe this just isn’t the one. Maybe this stock just isn’t going to be an easy one to trade today. It’s better just to walk away and come back tomorrow. Being down 5,000 for me is a little bit of a disappointing day but, hey, I’ve had days where I’ve been down 15, 20 or even $30,000. By comparison, being down 5,000 is no big deal. It’s always better just to step back and live to trade another day than get so fixated on one stock that you just give back more and more and more money. Some are just a little trickier. GSHI, I would say, is a tricky one. FRAN just is biased to the short side.

Anyways, that’s it for me. I’ll be back at it first thing tomorrow morning live streaming right around 9:15. Hopefully, we’ve got a better watch list than we had today. We’ll get that drop on GHSI. See, this is the stuff that’s so frustrating, 30 cent drops. You’re jumping in here for the break of three, keeps failing, keeps failing, and now here’s a flush back down to 70, low is 267. That’s just frustrating stuff. That’s all right, we’ll get the next one. All right, see you guys first thing tomorrow morning.

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