Warrior Trading Blog

Met My Daily Goal In 45 Minutes! +$2,687 | Ross’ Trade Recap

What’s up everyone? Bunny ears are on. Second green day in a row. A big green day yesterday of $6,500.00. Another nice green day today. Daily goal in the first 45 minutes of trading. Can’t complain about that, and of course, I’ll be back at it, first thing tomorrow.

Now, I want to remind you guys, this coming Thursday, at 1:00 PM Eastern, I’m going to host a free workshop, Day Trading 101, live at 1:00 PM. What I’m gonna do is, I’m gonna walk you guys through how to start trading with an account as small as 500 bucks. How to manage risk on a tiny account. Now, I did it, because I took $583.00, and turned it in to $100,000.00 in 45 days. I’m going to show you how to find strong stocks to trade, where to get in, and where to get out, and we’re going to put it all together. Rubber meets the road. It’s going to be a lot of fun, and I’m going to show you a lot of cool stuff, so make sure you register.

I’m going to give you guys who attend, a free copy of my bestselling book title, How to Day Trade. That’s coming up Thursday at 1:00 PM Eastern, and I will see you guys of course, first thing tomorrow morning. If you have any questions or comments on the recap today, leave below and I’ll answer it this afternoon. All right, see you guys later.

All right everyone. We’re gonna do Mid Day Market Recap, 45 minutes of trading, $2,687.00. My work is done, daily goal, not gonna push it today. Basically, three consecutive losers on my last three trades. Not that any of them were massive, but had a great start, with $1,300.00 on AKTX. That was straight off the watchlist. $2,400.00 on IMUX, straight off the watchlist, although we weren’t sure it was going to work. Then SCON, only 114. That was basically what I would call a loser, because I had 9,000 shares. mBio, $500.00 loss with 9,000 shares, and GBR, a $700.00 loss, with 9,000 shares.

So, after these three trades, I said, “That’s it. I’m not going to keep fighting an uphill battle. We had a great little burst of momentum out of the gates, and now things are kind of fading a little bit.” Although, AKTX is actually still holding up relatively well. I jumped in to this at 450 right here, as it started to curl back up on this green candle, and it surged all the way up to 485, which was awesome. I would keep 485 on watch. If it did end up breaking over that level, I would probably try to scalp it on a move up to $5.00, but at this point, you’ve got 12 million shares of volume. You do have news on it this morning, but it may be getting a little bit on the crowded side. So, not going to push my luck on it, I don’t think. For now, I’m just gonna you know, take my $1,300.00 bucks, and be good with that.

IMUX, red to green move on this one. I jumped in as it was curling up right here on this candle, and it squeezed up from 17, all the way up to $19.50. Unfortunately, it gave back the move. I think it was worth a stab, and it ended up being $2.50 per share of profit, so it was a good trade, but I really had higher hopes for it. In any case, green is good. SCON, this one was not on our gap scanner, but hit the momentum scanner, along with GBR, right here. You can see it popped up, hit 86, and then dropped back down to 67. Actually, that’s where I got in, and got back out, I guess for a dollar, or $114.00 of profit. mBio, I jumped in to this one, on this little pullback right here. Hit a high of 68, and I was up 8 cents with 9,000 shares, but when I hit the bid, it ended up dropping, as you can see right here, it just on this candle, dropped when I was bailing out.

So, on the one hand, it does look good, back over 68, but the five minute is kind of risky. For whatever reason, this is kind of interesting on this one. It kept just seeming like there were walls of sellers. Could be because it has short sale restriction. People trying to short it, are shorting on the ask. I’m not 100% sure, but not the easiest one. So yeah, it looks good over 68, but is it really gonna make a nice move up to 75, 85, 90? I don’t really think so. Then GBR, this one I really don’t like this stock. I don’t know why I even bothered with it, but I bought this little pullback here. It hit 53, and then came right back down, and I stopped out there.

Three basically red trades. SCON was flat, but it was a bad trade. Three bad trades in a row was enough for me to say, “That’s it. I’m going to walk away. I’m going to take my money, put it in my pocket, and not give it back.” I already gave back a little bit today, and that’s one of the things we talk about. Every single day you come in to the market, you are either going to leave some money on the table, or you’re going to give back some profit. You’re always doing one of the two. It’s just up to you to decide which one you’re more comfortable with.

On AKTX, I might leave a little money on the table on it, by not being more aggressive right now. As it curls up here, the risk is a little on the high side. The high of this candle is 78. It’s 85 is just the spot, that I would kind of have in my mind. 85, 87, and then 510. So, spots to keep an eye on. mBio, the seller lined up at 68 again. It’s just always good to know when to walk away, when to take the money and get out.

Anyways, another green day. 6,500 yesterday. 2,500 today. So, that’s 8,000 – 9,000 or so, on the week. Watch this 80. There’s 86. There’s 97. That gets the [inaudible 00:06:15] going a little bit. So, now you’ve got a high here of $5.00, but back to 87, so you see how quick you have to be, to trade that. This one’s back on the high day MOMO scanner.

Generally speaking, back over five, is where I would usually try to scalp it, but we’ll just kind of see what this one does for a little bit. That’s it for me. Kind of a short midday recap. Not a whole lot to cover, but another green day, so can be happy with that. Definitely, for those of you guys watching, keep a close eye on this. There’s a seller there. You see that seller at 504? So, bit of a seller there. Pre-market high is 510. What I would do, is watch the first pullback after the fresh breakout, and see if that gives you a low risk opportunity. That’s kind of what I’d be thinking. The high is 504. Watch this for a second.

You’ve got this candle on high volume, which is a doji. The scalp type of set up, you can see how you could have done a quick scalp right in this area, at 75, 78. Jumped in 78, and then sold in the 90’s. I don’t love when the high, actually breaks over the whole dollar, and then falls back below it, because it shows that it’s kind of struggling at that level. A little bit of resistance there.

Now, you’ve got a little bit of a pullback. This type of set up, I always worry a little bit about double topping at the level. It did break through that double top volume coming in. As you can see, ramping up. Current five minute candle, has about one minute left on it. It’ll close at 10:25. So, what I would typically do, is put an order right around $5.00. The high of a last one minute candle is 95, so you know over 96 is a scalp. I could put an order at 97.

First one minute candle, make a new high. From 97, will it go back up? So watch this here from 97. Will it go back to 504? It probably will, but again, when the kind of struggle right around the whole dollar, don’t always love that. So this actually made the new high of 95 by 97, by 2 cents, and now he’s failed. So, that right there is a one minute false breakout. One minute false breakouts start to become more common, as you get further into the day. Probably a good idea just to let it. Maybe form another five minute set up, or something like that.

That’s it for me. Green day, book in the profits. Be Happy with that, and we’ll be back at it, first thing tomorrow morning. A reminder for those of you guys on Facebook, YouTube, and those of you guys in the chatroom, who have been wondering, Thursday 1:00 PM Eastern. We’re going to host a free workshop, Day Trading 101. So, those of you who want to learn a little bit more about how I find these stocks, how to get in so quick, how I manage my risk, and how I was able to start trading with a $500.00 account, we’ll be walking you through it, Thursday 1:00 PM, Eastern. So, you guys can register for that workshop. There will be a description right here, a link in the description of this video. I’ll see you guys all, first thing tomorrow morning for Pre-market Analysis, right around 9:00-9:15.

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