Warrior Trading Blog

Leaving Boston +$767.33!

boston

Leaving Boston +$767.33!

 

What’s up, everyone? All right, so finishing the fourth day trading here in Boston. As I think back on the last three days, it’s been difficult. This has not been the relaxing trip to Boston that I thought it would be. It’s been stressful and frustrating and three consecutive red days in a row. Today, my only goal was to break the red streak and just trying to finish the day green. My first trade of the day, I made a $1.50. And I kind of asked myself, “Should I just stop here? Because technically, I am green.” But I took a couple more trades, total of three stocks I traded, green on all three names, finishing the day up $767.33.

Although that feels like it’s not a lot, it’s certainly not compared to the big green days I’ve had in weeks past, it is a green day. And that was my goal, to finish the day green, to break the red streak. So my work is done. I’m happy for that. And hopefully we can have another good day on Friday. This will probably be my first red week of the year, and probably won’t be the last. But I’m hoping that things bounce back and we can kind of start to recover the month of February, and I can get myself into the green on the month. Still got about two weeks left, so think it can be done. All right, so let’s go over all the trades from today in this morning’s mid day market recap.

All right so we’re going to break down the trades from this morning. Today was one of those days where it felt like, at least to start the day, that nothing was going right. I couldn’t get logged into my screen share. My stream wasn’t working this morning. Everything was all screwed up on my computer, not sure why, but it took about an hour and a half to get that all fixed, and so during that time, I was trying to trade on my other computer, and trying to fix this one. And it’s just one of those kind of mornings where I was starting to definitely feel frazzled and kind of stretched in five different directions.

So I never like having to deal with that tech stuff in the morning when I’m trying to get myself focused on trading. You guys probably deal with it a little bit in your own ways also. You log in, and your router’s not working, you don’t have wifi, and you get to spend what’s supposed to be your pre-market prep time looking at the watch list trying to get connected to the internet, or whatever it is. So that’s kind of what my morning was like, and I just felt like coming into the bell, I didn’t really have a good sense of what I liked. I didn’t have a lot of time to really review what was on the watch list.

I had a couple that were on watch. NBRX was the leading gapper. So this one I was watching for a gap and go. It ended up opening just a little bit on the low side. It opened at two … Let’s see, 262. And as it started to squeeze up on a one minute opening range break out, I jumped in, I took my first trade long at 269, anticipating a break over 270. So that was a one minute opening range break out set up. What ended up happening is it popped up and it hit, what is it, 74? And then it dropped all the way down to 56. And once again, I’m like, “Dang it. I’m in the red.”

And so as it came back up, I was quick to get out for a $1.50 profit. I was just happy to not be red because I was red on it. So I got in at 269 and then sold at 272, 272, and then the rest at 267 as it popped back up. And then all of the sudden, it squeezes right here up to 295, and so I kind of was like, “Darn it, I missed that,” and wasn’t expecting it to open up that much when it was choppy right in here. So I missed that. Then, pulls back here a little bit, 290. I didn’t get in here because I didn’t think there was really enough potential, and it ended up dropping back down.

So then it kind of went into a period of being pretty choppy for awhile. Not a lot of clean follow through. Just kind of this sideways stuff. And then, right here, all of the sudden, 1.2 million shares of volume in this one candle. It blasted through $3 and squeezed up to $3.30. And again, when that happened, I just … I was watching it and I kind of thought … Well, I was seeing these 50, 60 thousand share sellers on the ask, and I thought that it would be too thickly traded and it wouldn’t probably open up that much, and so I just was like, “Ah, I don’t know.” And then it ends up squeezing 25, 30 cents.

So anyways, I made $1.50 on NBRX today. Green is good. So that was my first trade of the day. So I was up $1.50 in the first few minutes. And then, I didn’t take any more trades until 10:00 AM. You can see here that my next trade was on … I tested GLMD to see if I could short it. I saw that I had shares available, so I was like, “Do I really?” And I guess I do, but I didn’t take any. That was just … I put it way up there to test to see if I had shares available.

So then I got in GLMD at 650. This one kind of popped up and then pulled back. And so I was like, “Well, maybe there’s a little five minute set up in that.” And that was right here. And so that ended up being a decent five minute set up. I mean, it wasn’t picture perfect, but it was okay. First five minute candle to make a new high was at 39. I waited to see volume come in, and then when I saw it coming in, I got in for the break of the half dollar at 650. And it looks like I tried to be a little more aggressive on it, but I only got partial fills, and then I canceled my orders.

I immediately sold half at 674, which was high of day. High of day was 75. So I had already planned that I would sell half at that point, because typically, I would add there. And so I’m doing the opposite of what I’m typically doing. Instead of adding, I’m selling half, and that was the right decision, because it came all the way back down here to 620. It then curled back up and squeezed and hit a high of 709, but I wouldn’t have held through this pull back. So total profit, $534 on GLMD, which is good. Green’s good.

Then the last trade was LBCC. I jumped into this on this five minute set up right here. So we had that little five minute pull back. I jumped in. We got a squeeze up to a high of $4.00. I sold into that move. So only made $230. I bought it a little too high at 75. And then I added at $4.00, thinking it was going to break over that level. That was a mistake. I immediately should the shares I added for a one cent loss, and then sold the rest of them at 87 and 66 and 78. So on that one, once I was kind of green on the day, I was like, “Yeah, give it a try. This looks like it might open up.” I thought it would, but it didn’t, so I switched gears on that pretty quickly.

And that’s it for me. Three trades today and fortunately three winners. Small winners, but three winners. So that’s definitely a nice way to kind of end my week here in Boston and I’m hoping that we start to see better follow through going into the weekend, tomorrow, and then next week. Would love to finish the week with another green trade tomorrow, make some money, going into the weekend feeling good. So hopefully we see some good opportunities. And again, I mean 767 bucks doesn’t feel like a lot, but keeping things in perspective, it is a green day. It’s a good day.

A couple years ago, this would have been a fantastic day, so I do have a little bit of a hole that I have to dig myself out of from the last week of really just choppy markets. And this is one small step in that direction. And I’ll just keep making my way back up and when things do pick up again, I’ll probably start seeing $7 thousand days and $8 thousand days again. But right now, just got to grind on these smaller numbers and try to put away a little bit of money and dig myself out of the hole and try to turn February around a little bit, see if I can finish February in the green.

That’s my goal. So I’ve got about $11 thousand, $12 thousand between me and break even on the month. It’s not really the position of strength that I would like be in. But that’s okay. That’s the bar. That’s where it’s set, and I’ll just work on digging myself out of the hole. So daily average so far this year has been about $32 hundred per day. But it’s been dropping every day in the last couple weeks with these red days and with these small green days. So it’s a little bit disappointing. But my job is just to try to come in here every day, find good quality set ups, make it easy for you guys to follow along and understand what’s happening. And so it’ll do same old routine tomorrow morning, back here 9:00, 9:15.

Hopefully we see some good opportunities and we can finish the week with a green … If you’re still watching, you must have really enjoyed that video. So why not subscribe and get email alerts any time I upload new content? Remember, when you subscribe, you become a member of the Warrior Trading family.