Warrior Trading Blog

Making A Comeback +$3,786! | Ross’ Trade Recap

comeback

What’s up, everyone? All right, you can tell by the lights … Oh, wait a second. We got to fix this. There we go. You can tell by the lights behind me it’s a green day, finishing the day up $3,786. Life is good.

 

That’s a good way to finish the week. It makes me feel just better going into the weekend in the green. I think any trader can relate to this. It just feels good to finish the week in the green because then, Saturday, Sunday, you’re not thinking about and just dwelling on a big loss from Friday.

It doesn’t recover all of the losses from the two days. In fact, it only really recovers about half of it, but, you know what, it’s a step in the right direction. Right around 10:30, I started thinking, “Geez, I’m up 3,700 bucks. I might be able to make back everything I lost yesterday,” and that’s why I said, “You know what? It’s time to walk away,” because when I start getting that in my head, I’m going to start taking unnecessary risks just to try to make it back versus just taking good quality trades, so I was like, “That’s it. That’s my cue to call it a day. 3,700 bucks, I’m going to be happy with that, give myself a pat on the back. You’re digging yourself out of the hole. You know, one, two more green days, you’ll be right back at all-time highs.”

You have to be the first-base coach for yourself. You got to give yourself those pep talks because every trader knows what it’s like to get knocked off the horse and have to get back on. That’s part of this career. It’s going to happen all the time, so a little bit of a a step down the last two days, but working my way back up here, and I want to keep it going on Monday and Tuesday and see if I can finish this month in good shape, maybe back up above $50,000, so that’s the goal, and I’m going to break all the trades for today in today’s Midday Market Recap.

As usual, any questions, any comments, leave them below. I’ll be going through them this weekend and answering them. All right? Enjoy.

All right, everyone, so we’re going to do our Midday Market Recap here, go over the trades from this morning, and I want to give you guys the link here, so, reminder, this coming Monday at 1:00 p.m. Eastern, I’m going to host an online training workshop where I’ll be teaching you guys my three strategies for how I’ve traded the market over the last several years, the strategies I use to take this $600 account and turn it into what it is now right around $700,000 of profit. All right, so the link is in the description on YouTube and on Facebook, so check it out, and those of you guys who are in the room, you see it right here.

Finishing the morning here with $3,786 and one penny. Not bad. Green is good. I could be happy with that, so that’s a nice way to finish the week. I was hoping that we would have a green day today, and it ended up being not bad at all, so let me drag up my PNL here so you guys can see I finished the day right here. The three stocks I traded, green on three names. Green is good. That’s what counts.

No home runs though. No big home run trades. Nothing massive. This was a day where it was really slow and steady wins the race. That’s the name of the game and that’s … I’m okay with that. I would have loved to have seen a home run opportunity, but I really didn’t see one today, and so rather than try to force it and be really aggressive, I just said, “You know what? I’m going to, you know, take these smaller base hits and be happy with it, and, um, you know, uh, I’ll be ar- you know, be good with that.”

Yes, I did put away the gas can. I’m going to roll myself back over here. Now, a public service announcement, sniffing gasoline is not a good idea, all right? Don’t do it at home, unless you want to have a great time, so gasoline can is put away today. I don’t need it. It’s a green day, running on adrenaline, feeling good. Okay, so, let’s see, three stock, AWX, TNXP and BSPM, let’s start with AWX.

This morning started just like any other day, running through the gap scanner, and this morning the gap scanner was not giving us a lot that looked really interesting. It was just a little bit of a dud. This was too expensive, TEAM. IZEA, it was on watch, but as soon as the bell rang, this thing was selling off. It didn’t hold up well at all, so it didn’t trigger my entry point, which would have been a break of the premarket high, break a premarket high, no trigger, no trade, so that one didn’t trade.

TTPH floats too high. CHK floats too high. AWX and BSPM, these were the two that I traded. VTVT, none a volume. These ones, too expensive, floats too high, floats too high. This one we’re watching, but didn’t follow through, so, basically, just in a matter of five minutes, you can find stocks to trade and, this morning, we’re watching AWX.

AWX has been honestly just a very crazy stock to trade. It has not been easy at all, and I’m saying this as a long side trader, but there’s a lot of traders who trade to the short side who are also frustrated because they short it and, next thing you know, out of nowhere, it spikes up like this or it spikes up like that and stops them out, or it spikes up like it did right here, so it’s doing these irrational, just very strange kind of breaks, but it’s also doing it to the short side.

Big drops there, big drops here, drops here, and then there were some a little bit this morning as well, so today has actually been the cleanest so far of all the days that we’ve traded it. It’s the first day I’ve made decent money on it, but it really, to me, was not an easy stock to trade. The behavior is just a little bit strange.

Now, the last time we saw a stock trading like this, it was being bought up on the open market by someone who was buying basically half of the outstanding float, so if someone is buying 2 million share of this type of stock and they’re buying it in a 100,000-share market orders, that’s going to create some big spikes, no doubt about it, so that’s a possible scenario.

However, this stock is going up with no news at all, so my … and I haven’t seen any form for filings just to say that someone has taken a large position, so we don’t really know why this stock has gone from $2 to $8 over the course of four days. What we do know is that this right here represents volatility, and volatility is opportunity.

There’s been opportunity on it, but, in this particular case, the price action has been very choppy. It’s not been very predictable, and so the volatility hasn’t been predictable volatility, and that’s where the risk is higher, so my first trade on it today … and I’m just going to scroll back up here, so let’s see, tested orders, those didn’t go through. The first trade on it was right here at 6.60 at 10:07, all right? 10:07, the stock was starting to squeeze back up.

The high a day was 6.75, and, of course, you see how it had this big drop and then it surged back up, consolidation, and then big drop, and that’s why I don’t like to hold during consolidation as much as I can avoid it because I don’t want to be holding on a drop like this.

It starts to pop back up and it flags right here, and I got in for the break of this flag at 6.60, so I’m in a 6.60 and I add at 6.75, anticipating a break over high a day. It hits 6.75 and then it pops to a high of 6.92, and I’m taking profit at 85 and 86 and like, whatever, 77, so, right there, from my entry there and selling through here, that was about $700 of profit, so 750 bucks, not bad, all right?

It’s then consolidating. I’m watching it to get back in right here on the next flag, and I add back at 92 and 98 and I sell at 8.08, so there’s another small profit right here, buying on this flag and selling as it pops up to 7.19, and then this is where I kind of made a mistake. I wasn’t sure it was going to continue because I bought the first pullback and I bought the second, and I was feeling a little iffy about buying the third, and then, all of a sudden, you see it pops up here to 64, and I decided to add as it was squeezing because I thought it might get halted on a circuit breaker, and I added right at 7.50.

It popped up 15 cents, but then it dropped all the way back down to 7.30, and I was down 20 cents. I was down a thousand bucks. It pops back up, and I got out breakeven. I was like, “Get me out of this thing. Too choppy.” I bought it too high, so I’m selling in the 40s, in the 50s and, in the 40s, basically a breakeven on that trade, and I was happy to be out of it because it just … I just felt like I bought too high, but … and you can see it dropped, so I did the right thing, then consolidation over a little bit of a longer period, and, now, a break back up through high of day.

I could have gotten back in right in this area. This is where some traders would have gotten it. I just hesitated. Actually, I wasn’t even watching it. At this point, I was like, “No, I’m done for the day. I don’t want to push my luck,” so, anyways, total profit of $1,400 on this stock. I’m just happy to walk away green on it. It really hasn’t been an easy one to trade, so just being green is great. All right, so that’s that one.

BSPM, $800 winner, I lost 5,000 on it yesterday, so this only somewhat redeems yesterday’s loss. I was watching it premarket, and I was like, “No, I don’t care. It’s below $2,” but then the bell rings and it pops up and it’s at 4.40. I was watching this one-minute micro pullback right here at 4.40, and I was really tempted to get in there, but I waited.

I waited for confirmation and, when it popped up to 60, I said, “I’ll wait for the first one-minute micro pullback,” which was right here, so this was actually the second pullback, so I bought the second pullback and at 60, with 3,500 share, not being super aggressive, and then selling at 77 and 75, and then adding back in the 80s right here, going for a high day break, looking for a move over $3, but it was choppy, and so I took a loss on some of it, sold more breakeven. It wasn’t very clean, and then I added back at 92 and sold at 3.01.

This really didn’t end up being a very good winner right in here. I was holding through this consolidation. It was just choppy. The best entry would have been right here or adding full size right here, and I added up here, which was not great, so, anyways, only 100 bucks on that one, and it’s not holding up very well, and then the last one was TNXP, which … It’s kind of a surprise. I mean, I usually don’t like trading stocks that gap down. This stock has [gone 00:11:37] down like 67% today, a big gap down, but it started moving up, and it moved quickly enough to get halted, so I jumped in at 35 with 10,000 shares, and then I added at 40 another 2,500, so I’m buying it right here as it’s moving up.

It then gets halted on circuit breaker, and it drops down for a second and I … As it surges back up, I bought another 2,500 shares, so I had 15,000 shares total, and I sold at 52 and then ended up stopping out the rest at 37. It just didn’t hold up very well, so it is what it is, but I still made 1,500 bucks, about 10 cents on 15,000 shares.

I didn’t mind taking bigger size because it’s a cheaper stock, not a lot of exposure risk on that, but, yeah, so that’s it today, $3,700. No home runs. No one single big, huge winner. The biggest one was TNXP, a couple of small trades on AWX, a couple of small trades on BSPM, but the good news today is that my accuracy was pretty close to 100%. I think I only had one loss, which was on BSPM, and it was a pretty small one, so that’s good. I can feel good about that, and I write it in the calendar, make it official, plus $3,786 and one cent.

You guys can tell. I’m just happy to go into the weekend with a green day. Yesterday, I was just … I was a little disappointed with myself because I thought I pushed it maybe a little too hard and, again, like I said yesterday, going from being green on the day at $2,000 to being down five grand is a real … It’s a blow. It’s better just to lose right out of the gates than to have something and then have it taken away. That’s how I feel at least. Like for me, I’ve never flown in a private jet. I’ve never flown on a private jet. I don’t want to do it because, once you’ve done it, you can’t go back, right? That’s what people say.

Like now that I’ve flown in first class, there’s no way I would want to go back to like Southwest or something like that where everyone’s in the same seating, because I know I’m 6-foot two. It’s just not going to happen. I flew to Italy in coach, and I … The seats were smaller and, oh, my God, it was horrible, seven hours, and it was the worst, so, when I flew back, I flew first class on Alitalia, and it was like, oh, my … It was like a five-course meal, and I was able to lay down, and I was like, “That’s it. I’m never going back.” Sometimes, it’s better not to experience the good because then, when you lose it, it’s that much worse.

As far as trading goes, I’d prefer to never go green. Like if I have to lose, I’d rather just go right into the red and be just be like, “It was a bad day. It just went straight to red. It is what it is.” Going up $2,000 and then giving it all back is … It’s the worst.

Anyways, down 5,800 yesterday, down 1,300 the day before, so that’s like almost $8,000 in losses in two days, and, today, I made back a good portion of it, so a good step in the right direction, and we’ll hopefully keep it going on Monday and Tuesday, Monday, Tuesday, the last two days of July. I’m sitting right now right around 45 or 47,000 on the month, so, hopefully, I can get myself back up above 50 grand. That would make me happy, and we can finish the month feeling good.

Reminder, Monday 1:00 p.m. Eastern, we’re hosting a live workshop. It’s going to be a lot of fun. Looking forward to doing it, so, hopefully, I will see you guys there.

Now, Eric says, “Test drive the Ferrari because once you test drive it, you can’t go back.” I have driven some nice cars in Las Vegas at the motor … the Las Vegas Motor Speedway. You can go out there and you can rent nice cars, so I drove the Lamborghini Huracán and a Porsche Gt3, a couple other fun cars and, you know what, with those ones, that for me was like … It was a nice taste, but I realized that there’s no point in driving that type of car on a regular road because you’ll never be able to really open it up, so you go to the track, a couple hundred bucks, you drive the fun car, and that gets it out of your system, so, with that one, I’m not super inclined to spend a quarter million dollars on a car.

Anyways, that’s it for me, so I hope you guys have an awesome weekend, and we’ll be back at it first thing Monday morning. I’m probably going to go on Facebook live or maybe YouTube live at some point this weekend, get some of you guys excited about the workshop on Monday, so stay tuned. You’ll see me there probably on Sunday, and, everyone else, I’ll see you back here first thing on Monday morning. All right, see you guys on Monday. Bye.

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