Warrior Trading Blog

Kicking Back After a $7K Day! | Ross’ Trade Recap

ross recap 7/05

What’s up everyone. All, right so you guys all had a great Fourth of July. Here we are back at it Thursday morning, $7,700. Green is good, I’m happy about that. So this is kind of a holiday week. I did well on Monday, gave back a little bit on Tuesday.

 

Here today, boom, right back at it and well, still got tomorrow. So, as of right now I’m up over 10,000 on the week, which is my minimum weekly goal 10,000 a week 40, 50,000 a month you know, plus or minus.

That keeps me on track for the half million dollar year. So I’m all good there. If I can make some money tomorrow finish up the week strong, I’m certainly happy with that.

Today’s a day where I did take a lot of trades. There were a lot of things moving off the high of day scanner, not as much off the gap scanner but kind of a little flurry of activity between 9:45 and 10:15. So, got a bunch of trades, traded eight different stocks which is a lot for me but made money on all except for two of them.

So, you know, good day overall. So we’ll break it all down today in our midday market recap. And remember guys, if you have any questions, any comments, leave them below, I’ll come back through and answer them later. And hey, this is a great time to join Warrior Trading because we’re hosting our Fourth of July sales. So come over to warriortrading.com, check out the sales, check out the specials and become part of the Warrior Trading family. All right, so enjoy today’s midday market recap.

All right everyone. So we’re going to do our midday market recap, go over the trades from today. Finished in the morning up 7,718 dollars and 38 cents. That is pretty good, made 8000 on Monday, which was great.

Tuesday, lost 2800. So now today made back what I lost on Tuesday plus going even further into the green. So I’m up about $11,000 this Week in three days of trading. Not bad at all. So I’m feeling good about that.

I’m still taking it a little bit easy because I think we’re still in kind of a holiday trading environment where you just have to be a little bit more cautious. Biggest share size today was 10,000 shares whereas on Monday I was trading with 17,000 as my biggest position. So I could have made more today if I was a little more aggressive but I also had a couple losses and just I didn’t want to, I don’t know, after the red day yesterday or on Tuesday I really just wanted to get myself back into the green and then once I was doing well I was like all right now I can start to amp it up a little bit.

So, we’re going to break down the trades from today and talk a little bit about the market environment that we’re in right now. But just as a reminder for everyone, we are extending our Fourth of July sales. So the coupon code ‘Firework’ is still active. Save 30% on the Warrior starter course, which includes chat room access, trading simulator access and the first four classes of my day trade course.

Or you can save 30% on the Warrior pro course which gives you access to the scanners, the chat room, the simulator, all of the classes plus classes on swing trading, options trading and we’ve got some new classes coming soon which will be really exciting.

But I’m not going to give that away quite yet but just know that as a member of the Warrior Pro, when we release new classes you get access to those new classes as well.

All right, so, just wanted to remind everyone on that and now let’s go over the trades from today. So I’m going to put my camera down on the bottom corner, there we go.

So you can see a number of stocks I traded today. Again, not a day where I just took one trade and was done. I traded, what is it, two, four six, eight different stocks, so pretty active today. What I said this morning is that I think today is going to be a day we’re focusing primarily on the high of day momentum scanner. I don’t think we’re going to be getting a lot on the gap scanner.

So every day starts the same way. For those of you that were hanging out yesterday when I was doing the Q&A by the pool at my house, we talked a little bit about the process of finding stocks to trade, something that at the beginning for me was daunting.

I know that I signed up for tons of newsletters and hot penny stock alerts and all that stuff because I just didn’t know where to find stocks to trade. I just had no idea. When I got started, the technology of scanning was sort of, it wasn’t what it is today. It’s come such a long way and it gives you guys such a huge advantage because this allows usvo to get right to the strong stocks to trade each morning.

So, we run this scan right here and this is a scan of all the stocks gapping up more than 5% in the entire market. So from thousands over 10,000 stocks to choose from, we’ve now narrowed it down to this list right here of the ones in green, which is like, I don’t know, 30 stocks or something like that. I really focus on the top 10 or so. So, you know, from here up. Now, these stocks are all gapping up actually more than 10%.

The biggest gapper is 144%, which is huge. And you might think, geez, if a stock is already up 144%, you missed the move. And that’s true if you’re an investor. That’s true if you’re thinking about buying the stock and holding it for the next six weeks. But as a trader, just because it’s up 144% doesn’t mean you couldn’t still scalp 10 or 15% profit.

So, the whole approach with day trading, if you put $1,000 today into a mutual fund, a year from now, you’d pull out $100 of profit at best. You’d probably pull out $80 of profit 8% is the average return. So it takes you one whole year to make that $80. Now in contrast, what a mutual fund does is it buys shares of hundreds of different stocks. So one of those stocks may go up, you know, 20%, but then the others that go down, it all kind of evens out. So you get these small moves.

So, the thing is, every single day, there’s a stock that moves 20 to 30%, every single day. And so our job is to find that stock. And if let’s say you put that $1000 all into one stock, and that stock goes up 10% in one day, you just made 100 bucks in one day. You made the same as you would make an entire year with a mutual fund, you did it in one day. And what if you do it again tomorrow, you make another hundred bucks.

Do it again the next day you make another hundred bucks and that’s what we do as traders. Now, obviously putting all your eggs in one basket is risky. That’s why day trading is considered a high risk form of investment or a high risk trading strategy. It is because obviously if that one stock that you put your money into drops by 50%, you’re going to lose half your account and that wouldn’t happen with mutual fund.

However, once you learn how to pick strong stocks to trade, what you’ll realize is that you’re mitigating your risk. You’re no longer going to be positioning yourself where if it goes wrong, you’re losing half of your investment. If it goes wrong, you’re maybe losing 100 bucks and you take the loss. So yeah, a 10% loss is a lot but on a good day you might actually make 20 or even 30%. And so that’s what we’re doing every single day. So this scanner helps me find the stocks that have the potential to make that big move in just one day.

So today, NAW, I was on the scans, this one I actually wasn’t incredibly interested in, the float was 32 million shares, which to me was a little on the high side. For those that aren’t aware float, this is the number of shares available to trade. Every company has a float. So lower floats mean less supply. That means when you’ve got high demand, which often comes when a stock is up 144%, you can have that imbalance between supply and demand and the stock can go up really quickly.

So this one I wasn’t very interested in but the pivot was $1.80. If it had broken over $1.80 I would have been looking for a retest of the pre-market high right here and that didn’t happen so it opened and it faded. No trade, no trigger, didn’t touch it.

Next one down, DFBG. Now DFBG I did trade. You’ll see my trade on it right here, $680. So, on this one, this was already gapping up 100%, which is a big move. There was news down here that they were buying a global brands division, which is interesting. So I was watching it out of the gates for a retest of the pre-market highs. So this one had a pivot right here at 6.40. This was the pivot. I was getting in at 640 for the test of high of day. The high of day was 71.

So as soon as the bell rings I jumped in this at 6.34 and 6.37. As I saw the volume coming into it I anticipated as it started squeezing up and then I added, actually I didn’t add, I just got in right there and then I sold at 6.44, 6.59 and 6.58 as it came up to this little resistance point. So right there on that very first trade was about $400. I sold the rest as it came back down stopping out at $6. So, small win there. 400 bucks is for me a small win.

Now, this consolidate sideways sells off a little bit and then right here it starts to curl back up and I got back in. So let’s scroll down to where I got back in it. I got back in at 6.24 as its curling up right here. So it pulls back for a second on this red candle and as it surges back up I get into 6.24. I add at 646 and 642 going for a high of day break and then actually stopped out of some of the position for a loss right here and then suddenly it pops up to 280. I sell the remaining 200 shares I’m holding and then I decide to add at 80 thinking now it has a chance of breaking $7, but it really didn’t. It tapped at this level and kind of consolidated here before selling off.

So I made back another $280 on it or something, let’s see, DF, yeah, $280, finished up 680, which was fine but it didn’t hold up really, really well. And then it came back down here and sold off 10% in less than five minutes and then it continued lower after resuming from a halt. So a little bit tricky there but it is a gap and go trade. So this was right off the scanners pre-market and this is how it found $680 of profit in the market. All right.

Next one down, GBR, we were watching this one just because it’s obviously been really active the last couple days. Really big moves on Monday, big sell off on Tuesday. And so here Thursday, it kind of was like, well, maybe it’s worth watching and you can see right here, it squeezes up from 4.60 all the way up to a high of 6.25. Look at that move in four candles. So, this is an opportunity. When a stock goes up 30% or 40% in four minutes, there’s an opportunity there and you’re either capturing it and making money or you’re sitting on the sidelines.

Those of you watching on YouTube and Facebook, you might not realize that there’s hundreds of thousands of traders all around the world doing what I’m doing, doing the same thing, coming into the market every single morning to trade. We’ve got over half a million followers between Facebook, YouTube and Twitter and of course we’ve got our members in the chat room. There’s a lot of people doing this. And so what we’re all looking for is pretty much the same thing. We’re looking for a stock that’s going to make a big move because when it makes that big move, even if you only capture a fraction of it, that fraction is a much bigger amount of profit than you’d ever capture on something like Exxon Mobil or Bank of America or something like that.

All right. So it squeezes up here to a high of 6.25 and pulls back. I got in for a micro pullback entry here on the one minute. I’m buying at 5.90 and I’m selling up through six and quickly with 5000 shares making about 20 cents which was $975 of profit. So, with that trade I was up over $1,000 on the day which was great. Felt good about that. So I had GBR, DFBG. So those two. And then I was watching at that point the scanners. My two from the watch list was GBR as a maybe and DFGB as a maybe. XPLR was a buyout so that one wasn’t in play. ANW the float was too high so that one I wasn’t interested in. CLRB was too cheap so I don’t like that and the volume was too low anyways. ERB the float is too high so I didn’t like that one. DGLY volume’s too low. VLRX actually didn’t really look very closely at this one and LBIX I was looking at but it’s sold off.

So, really these are the two that were worth watching and I made money on both of them, which is a great way to start the day. That’s how I find my first couple trades. So from 9:30 to like 9:35 I’m usually trading those socks off my first morning watch list to try to build my cushion on the day. Once I have a cushion on the day, now I feel like I’m in the driver’s seat and I can start taking a little bit of risk if we’re seeing good momentum in the market and that’s what we were seeing. So I was like, all right, now time to watch the high day momentum scanner. This scanner shows me stocks in real time squeezing up. Again, this tool wasn’t available to me when I first started trading. So the fact that you guys have it is, you just have such a leg up on where I was when I was first getting into the market.

So we see a couple stocks hit the scanners. TGC starts hitting it 1.71. So I’m like TGC, and someone calls it out, hey, this is spiking up. So I look at it and I’m like, yup, TGC, we traded this one on Tuesday just the other day and it made this big move from 97 cents all the way to $2 and 50 cents. So huge move, that’s 150% in one day. If you put your thousand dollars in right here, our account went from 1000 to 2500 in one day which would be crazy. So I made some money on that on whatever day it was. And then here we have it squeezing up. So I jumped in with 10,000 shares thinking it was going to make a big move and maybe get halted. I thought if it could break over $2, we might retest yesterday’s high.

So I jump in, it squeezes up to a high of 191 and then starts coming back down. And so I ended up selling at like 1.80, maybe 1.85, right in that area. It just didn’t hold up and I sold the rest as it came down right here. And on this candle it broke down. So it was enough to make $1,000, the stock went up from $1.50 up to $1.90, which is about 25%. That’s a 25% move from there to there. So 25% move and I captured maybe 5% of it or something like that. I didn’t capture the whole thing but I captured enough of it to make 1000 bucks. So green is good.

Next one down. So we’re still watching the scanners, watching the scanners. TGC there it is, GBR, that’s that tray. We talked about that already. DFGB does the red to green move. We talked about that trade. And then there’s PRAN, PRAN. So PRAN hits the scanners and initially I wasn’t that interested in it, I just sort of thought that it was, when it first hit the scans, it hit a high of 2.30 and I didn’t buy it. I just sort of was like, you know, I’m not sure about this one, here’s my concern. The 200 moving averages right here at $2.40 and we’re really close to that at 2.30. So, I don’t buy it, it drops all the way down here to 1.95 and then it’s sort of consolidating sideways. So what this ended up doing is it ended up forming a little bit of a pullback here and it’s flagging on the one minute chart. See how its flagging here.

And so just the way we said, we’re talking about those pivots pre-market, I thought that if this broke over this descending line, which I just draw here, just kind of at the top to there, if it broke over this line, I’d be a buyer. So I said guys, I’m watching it be a buyer over this level here at 2.20. If it breaks this level, this is where I want to get it. It breaks to 2.20 I buy and it pops up to a high of 2.51. So that’s 30 cents. So that right there is like a 15% move. 15% right there. Now it pulls back for a second and then I add for the one minute micro pullback right here, adding it 45 for the first one minute count to make a new high, it pops up to 58. I take a little profit there and then I stop out of the rest.

So this gave us two little patterns. The one right here and the one right here and both of those were small opportunities for profit, giving me $192 right there. So another good green trade. All right, so at this point I’m up about $2700 on the day, I think right around $2700. TIK hits the scanners. I look at it and I notice that it’s a five cent tick, trading in five cent increments so I say nope, not interested in that. So I keep watching the scanners. There’s TIK on there again. CCCR, this one was kind of interesting. It popped up and got halted at 1009. There was news out on this one, so I was like, Alright, sweet, there’s news. It resumes it hits a high of 55 and I got in $1.50 with 10,000 shares. It pops up to a high of $1.68 but it didn’t hold it and then it came back down and I ended up taking a $215 loss on it. I don’t know, I step up to the plate with it but it just didn’t really hold up very well so I took a loss on that one.

All right, so next one on the scans. ABIL. So, we’ve been watching ABIL for a couple of days. We were sort of stocking it waiting for the first candle to make a new high. That happened last week on the 29th and it didn’t hold up very well and then the last couple days it’s been consolidating. I just sort of had said, guys, you know, keep it on watch. I don’t know if it’s going to be today or it’s going to be next week but I think this is one that’s worth watching. So we’re watching it. We’ve got it on the back burner over here on another scanner or on another chart. I see this consolidation at 7 dollars and four cents and I was like, yeah, it’s interesting but here’s the problem, there’s not enough volume. I need more volume to trade it so I’ll just watch it.

Well, then all of a sudden here it pops up to $1.25 up to $1.50 and up to $1.87 and is halted. So kind of out of nowhere pops up here and I added at one, let’s see … I tried to get aggressive and added at 7.50 but I only filled 835 shares. The stock moved so fast and I was a little slow. No, part of the reason that I was slow is because I wanted to wait for confirmation. I could have been accumulating it at $7 or 7.05 but I didn’t trust that. I want to buy breakouts. I could have also accumulated it on Monday or Tuesday but I don’t want to do that because I don’t want to just sit and hold these stocks. I want to get in when they’re breaking out.

So I wait for the breakout and that means I’m paying a little bit of a higher price and that’s the price you pay for confirmation. I’m okay with that. All right. As you can see right now I’m all cash. I’ve got zero positions in the market. So here’s $7,000 plus 81000. So $88,000 in my account and it doesn’t matter if the S&P 500 goes down today or it goes up, I’m all cash right here in this account. So the risk is off.

So, I need to be able to get in on breakout. So I see it starting to squeeze up here and I’m like, okay, this is what we were looking for so I’m going to try jump in at the half dollar. I tried to get in 7500 shares at 7.50, I didn’t fill but I filled 835 which is like 10% of my order. And then I added at 7.79 and 7.87 and a little more at 7.87. I got another partial fill on that order. All right, so I’m getting partial fills. So now it’s halted because what it did is it just moved up 70 cents in two minutes. 70 cents in two minutes is 10%. So this stock just moved 10% in two minutes. It resumes and starts to squeeze up as you can see right here. So as it resumes, it hits a high of 7.59. Now if I gotten my full 7500 shares filled there, that right there would have been $7,500 of profit. That would have been nice. This could have been a $10,000 winner if I’d gotten a good fill but I didn’t. So let’s just scroll down.

So, I try to add at 32 and my order doesn’t get filled. I try to jump in as it comes out of the halt. I don’t get filled and then I switch to trying to sell into the squeeze, looking to sell over the half dollar, selling just under and then it’s starting to come down. So there I’m getting nervous. So I sell a little bit here like 2200 shares and then I add them right back as it squeezes backup.

So here’s the thing, you don’t know if this is going to hold the levels or if it’s just going to fade back down because we’ve seen them go both directions. So what I often do is I take a little bit of profit off the table, reduce my risk, and then if it shows me strength and starts to curl backup, I add. And so you can see it consolidating, consolidating, and what do you see happening here? This is that wedge pattern. This is that flag. So where would you want to be a buyer of this stock? You guys tell me. Where would you buy this pattern? We’re watching it consolidate. The high this candle is 8.50, the high this candle right here is 8.47. Exactly. The place you want to be getting in is 8.50. You want to be getting in for the first candle to make a new high anticipating a break of this descending resistance line. What happens when that line breaks? Boom, you go from 8.50 all the way up to a high of $10. Okay, that’s 20% just right there.

So now this stock has basically gone up like 40% in 15 minutes of trade. So that’s an opportunity. So in this opportunity I was able to make a total of $5,163 which was overall a great trade but I probably could have made twice that if I’d gotten in at a better, if I’ve gotten filled down here and maybe if I hadn’t sold some in here and if I’d been more aggressive right here. I could have been more aggressive on this. And so that’s the thing. I know today I made $7,000 and I could have done better. I could have made more money today.

So, that’s kind of that big motivator that always gets you excited to come back tomorrow because you know you can always do a little bit better, a little bit better. I don’t think there’s any trader in the world who would say I couldn’t be a little bit better. If you’re someone who’s a little bit competitive or you’re a perfectionist or whatever, you want to keep getting better because you know that that means you’re going to be more successful, more profitable etc, etc.

So anyways, this squeezes up, hits a high of $10. I actually added at the very high of 9, let’s see, my highest entry on this, you can see I was scalping was 9.99. I actually bought right at the highs thinking it was going to break over 10. So I pretty much top-ticked it and I did give back a little bit of profit stopping out on this as it came back down at 74 and then the rest oat 48. But I don’t regret that because you never know how high these will go. This could have gone to $15 today and on the daily chart it didn’t have any resistance until 11.44. So I knew it had that potential.

And you know what, this thing might end up continuing tomorrow or I don’t know going into next week. It’s still not in bad shape. I mean it’s consolidating in this kind of pattern, it did step down right here but it’s not bad looking. So keep it on watch tomorrow and see if maybe we do get more continuation. If it breaks over 11.44 next stop, you know, 14.56 is that next resistance point right up here.

So that’s the type of chart that I like. It does have potential there as it moves up. Anyway, so that was ABIL. TAIT, this was a small scalp off the scanners. It hits the scanner, let’s see, where is it, oh FRD, this is the loser. This one was kind of disappointing. I jumped in at $9, was adding at 9.40, adding at 9.50 and then it came all the way back down. So this one on the chart you see is just this big, like kind of bread candlestick. I thought it would be better because the daily chart was opening up but I don’t know, I guess there must have been people holding from back here that were selling or something. This one didn’t hold up very well. So it popped up, it dropped down. It then curled back up to nine and is now kind of come back down here. So who knows, we’ll see where this one closes. Maybe there’ll be something there but I don’t know.

So that’s FRD. And then TAIT hits the scanners. It hits 2.05. I don’t buy it there, I wait for it to pull back for a second. It taps a high right here of 2.05 or actually, sorry, 2.11, it pulls back and I was a buyer as you can see here over 2.11, 2.15. It pops up to a high up to 2.33 and I’m selling as it’s popping up there. So, total profit on that one was $460. So, you add it all up and that’s a $7,000 day, lots of trades today, more active than usual but I wasn’t super aggressive on share size. I could have been more aggressive and it could have made more money. This could have been a 10, maybe even a $12,000 day if I’d been a little more aggressive on ABIL. But, the thing is, I knew that we were still in holiday trading mode in a lot of ways. A lot of traders are out for the rest of the week.

When you’ve kind of holiday on a Wednesday, if you’ve made good money, you just take Thursday and Friday off especially if you have a family and stuff like that, you just take the rest of the week off. For me, I rarely do that. I enjoy trading but I’m also here to kind of lead the way with you guys and to be your guide at the market. So, if I take days off, I feel a little bit bad about that. You guys have an expectation that I’m going to be here for the most part every day. I didn’t have anything planned for this week and so I felt like yeah, I’ll just do my thing and trade. So I’m here but the reality is a lot of traders aren’t. You look at the numbers in the chat room and there’s not as many people logged in and that’s just a reflection of the overall market.

So what that means is that you have less participants in the market. That means less traders who are going to be buying breakouts. Less buyers means less volume. Less volume means smaller breakouts, maybe more false breakouts. And that’s when things start to get choppy. So holiday trading can be, it can be fairly slow. Today ended up being okay with the exception of FRD I suppose. I just wasn’t sure what to expect. So anyways, ended up being a decent day but I think tomorrow we’ll still try to take it a little bit easy, try to finish up the week strong. Still the first week of the month, I’m up $11,000 which exceeds my $10,000 weekly goal. So I’m happy with that. Anything I make tomorrow is icing on the cake and the momentum is still strong.

As of right now, I guess since my last cold streak I’ve made about $55,000. It was 52 as of Monday and then I lost three grand so it was 49. Pus seven today is 56,000. So about $56,000 of profit in the last three weeks on this hot streak and I’m just gonna keep the pedal to the metal as much as I can, of course mindful of the weekend here. But if we come out of this weekend, this holiday week and next Monday, Tuesday are still strong, I’m going to keep trying to be aggressive and try to make as much as I can during this window. That’s what you have to do. You have to think of these hot periods, these windows where you just try to capitalize as much as you can because things will slow down.

You guys who watch the Deadliest Catch, you know, I’m a big fan of the show and it’s kind of like right now, it’s like, you know, let’s say you’re hunting or you’re trying to catch king crab. So you’ve got a window where that fishery is open. I mean, it’s literally a window. You can legally start fishing on this day and this time and you have to stop on this day and this time. So that’s a window. And within that window, you want to get out there as early as you can and catch as much as you can and then come back and you’re done.

Now, for those fishermen, they have a quota. So once they hit their quota, they’re done and that’s it. They want to catch their quota in the least amount of time possible so they spend the least amount of money on fuel and all that stuff. Now, for us, there’s no quota. So when the market’s hot, when we have this window that’s open, we just got to dig deep and be out there trying to do as many trades as we can, try to make as much money as we can because when things slow down, you might have three weeks where you’re just going to sitting on your hands waiting for the next hot streak to open up.

So, that’s kind of the ebb and the flow that we see in this market. It’s not seasonal, it’s cyclical, and last July, last June was not great for me but this June was good and July hopefully will continue to be good. I’ve already got a good cushion. So now it’s just about kind of keeping my pace, staying on track and capturing the profit when I see the opportunity.

All right, so anyways, that’s about it for me today. We’ll be back at it first thing tomorrow morning, 9, 9:15 for pre market analysis. Again, encourage you guys watching on YouTube, watching on Facebook, you have questions, leave them below. I’ll come back through and answer them later. And if you’re thinking about joining Warrior Trading, becoming part of a family, we’d love to have you. You can join 30% off this week here to celebrate Fourth of July, freedom and independence, the two big values that made me want to trade. So we’d love to have you guys part of the family and I hope to see in the chat room.

All right, so that’s it for me and I’ll see you all back here first thing tomorrow morning. 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 homerun 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.