Warrior Trading Blog

Nothing Went Right Today -$5k | Ross’ Trade Recap


What’s up everyone? All right, well today’s one of those days where it felt like nothing went the right way from the very beginning. I drove halfway to work only to get a call that, hey, internet’s out at work. So I had to double back, head home and then set up at home on my old laptop, which I don’t use for trading. I’ve got this nice new one that I’ve been using for trading. It’s got my hot keys, all my layout on it. So jumped on the old one. I’ve used it for trading before. It has this software installed, but it’s not what I’m used to at this point. Only had one external monitor and these are the types of days that it’s so important to have that presence of mind that you’re not in the right space. You’ve had a couple bumps in the road before the bell rings. You got to step back and take it easy.

The bell rings, I take a first trade, down 1,000. Second trade, up 1,200. So now I’m up 200 on the day. Third trade puts me up 1,500 on the day. Fourth trade, down five grand. Just jumped into something really quickly without doing my full due diligence checklist and boom, biggest loss of the month. So I’m going to finish the day down $5,000. I tried to make back a little bit when I was down 3,500 and I just went further into the red. So that’s when I finally said, “That’s it. Max loss is five grand. I’m down $5,100. I’m throwing in the towel. I will live to trade another day.” I don’t want to give back any more today when the market is clearly not … It’s just not on my side. I’m just not feeling it.

So I’ll be back at it tomorrow. Try to finish off the week Friday with a green day, even if it’s only 500 bucks. Green is good. Then next week, recharged, refreshed, Monday morning. Hope for some good follow through. All right, so that’s it for me. Enjoy the recap. As always, questions, comments, leave them below.

All right everyone. So we’re going to go over the trades from today. Today is the first red day after a really nice hot streak. You can see here. It’s a good sized red day, $5,000 max loss. So my max loss on my account right now is $5,000. So because I’m below 5,000, if I wanted to take a trade on CTRM for instance, I could put an order down here at this level and I’m pressing the buy button and it’s just going to keep getting rejected. It’s not going to let me take the trade. The only trades I can take are closing orders to close positions. That’s an important thing. It’s important to have a line in the sand somewhere, wherever it is. But BBSA, this one has been phenomenally frustrating today. You can see I’m red on it, false breakout after false breakout, just very difficult. If it ends up ripping here, I’m going to be feeling frustration and FOMO on it.

CTRM, also a frustrating one, some serious false breakouts. Look at this stuff. Then OPGN, just really disappointing. So let’s start at the top here with the watch list for this morning. I was actually up … Well, I started the day with a red trade. I was down 1,000 and then I made that back and was up about 1,500 and then I had a kind of impulsive trade on OPGN and I lost five grand on it. That put me down 3,500. Then I tried to dig myself out of the hole and lost another 1,500 and now I’m throwing in the towel before it gets worse. So CTRM was our leading gapper this morning. This was up 35% pre-market.

Unfortunately, I also kind of started the day just with everything not quite lining up. Internet at the office was down. I drove halfway to the office, then turned around because I got a message that the internet was offline. So came back up to the house. I didn’t have my traveling trading station with me. So I’m trading on one of my older computers today, which is not ideal. I only have one external monitor. My internet even here is fiber but feels like it is going slow today and I’m not sure why. My fiber usually is well over 100 megabits up and down, but right now is only at 15 which is weird. I don’t know what’s going on. So there were some storms that went through overnight. I don’t know. I might have to reset things.

But by the time I was realizing all that, it was like 9:28. It was getting really close to the bell. So my first, the first trade on CTRM, which would have been a breakout over 4.40, I missed because my internet was all lagged and I didn’t … I couldn’t take the trade because by the time my quotes caught up, it had already happened. But I did buy the first pullback right here. So on this first pullback, I made about $1,500 on CTRM. Then I added on this pullback right here and made another 1,000 bucks. So I was up about $2,500 on CTRM and I’ve given back 2,000 of that profit, unfortunately. So those are my … That was my first trade on CTRM.

But I did take a trade on EDSA in the first minute. In the first minute, I jumped in it as it was surging up for the break of 5. Now 5.09 was the pivot we were looking at pre-market because that was the high of this level right here at 8.55. So I jumped in anticipating that breakout and it flushed right down. This thing dropped all the way to 4.31. So I lost 1,000 bucks on it, actually was closer to 1,200. As it curled up here, I got back in and then I added. I quickly sold and I ended up making back $300 or $700 but I made back and then I gave back because then it dropped here from a high of 5.24 back down to 4.63 and then it rips back up to 5.10 and now I’m just getting frustrated looking at it, faking us out.

Now here it’s back to 5, a high of 5.13. So this one was tricky, not a predictable break of the pre-market pivot that I was expecting. Got stopped out, lost 1,000, made a little bit back. But at this point, before the OPGN trade, but after CTRM and EDSA, I was up about maybe $1,700. So hey, $1,700 is certainly not bad, especially compared to where I’m sitting at this very moment. But at the same time I think I was … I’ve been having great green days, $65,000 in the last 12 days or so. So I was trying to be a little more aggressive and that’s when OPGN hits the scanner right here. I looked at, I pulled it up, pulled up the chart. As I’m pulling up the chart, I’m typing in the level two, I’m looking at the chart and I press, I go ahead and press shift 1.

It’s moving quickly. It’s a bounce off of yesterday’s lows. The last time we had a good bounce off the lows, it actually made a pretty nice move. I can’t remember which stock it was now. It was like a week ago. So I went ahead and pressed shift 1 and jumped in. Next thing I know I’m in this thing with 10,000 shares and then I look at the spread. Now, it’s usually not a good idea to look at the spread after you take the trade. This is a good example of getting a little complacent. When you’ve had a really nice hot streak, sometimes you can get a little sloppy because everything you’re trading is kind of working and you get spoiled and you’d fall into some bad habits, you get a little sloppy.

So I jump in and then I look at the spread and I’m already down $2,500 between the spread. It’s 25 cents spread and I’ve got 10,000 shares and then the spread opens up to a 40-cent spread and I’m down four grand. I hit the bid, I get another 10 cents of slippage. Just like that, I’m down $4,947, boom, from up 1,500 to down $3,500. That is disappointing. That is the last thing that I wanted to have happen. So I think at this point, or at that point, I was just sort of like, “All right, well, that was nasty. That was very disappointing. But let’s just shake it off. Yeah, I’m not below my max loss. So I’ll just give this a chance and we’ll see what happens.”

So then I’m watching CTRM and it’s consolidating through this area here. It’s now broken down and I see it curling up right here and I take this trade. I’m thinking, “All right, it looks like it’s going to break over 4.40.” That’s a pivot and then it might make a move up to 4.50. So I jump in here. That ends up being a false breakout, fails. So then I lose like $1,500 on that trade. I go from up 2,500 or whatever. Actually, maybe it wasn’t … I mean, I think I lost 1,000 on that trade. So then I’m down 4,400 on the day or 4,300.

Then I took one more trade right through here. It was on this candle right here. I bought this candle thinking that at this time we were still holding the 9. We were below the VWAP and sometimes these sort of pinch at this spot. We get the apex point and we break up. In this case we broke down, right? They’re going to break one way or the other, but this case it broke down. So there I lost another $700 or whatever it is. So that is kind of disappointing, gave back some profit. Here’s the typical EDSA today. Hits a high, it makes a new high by one penny and then it drops 35, 40 cents. So this is the condition of the market today.

Now, just like almost anything else in life, as a small business owner, if you’re a fisherman, these are the conditions of the ocean today. Today I’m just not catching fish. I’m wasting a lot of bait. I’m down 5,000 on fuel, on bait, on paying my guys to be out here all day long when there’s no fish, when there’s nothing happening. Sometimes that’s part of the deal. Being a small business owner and being a day trader, you have to really consider it like this is your business. It helps you take it more seriously. But it also helps me compartmentalize the bad days because there are going to be days like today where doing all of pretty much the right things doesn’t work. Or maybe I get a little sloppy on a trade like OPGN because I’ve been on a really good hot streak and I give back a little bit of profit, unnecessary loss.

Now I have sort of this moment where I have to make a decisions tomorrow about how I’m going to trade. Tomorrow, am I going to revenge trade or am I going to trade further? You know what? I could switch over to my IRA account right now and I … Well, you know what, I don’t know if I could keep trading. I think this max loss goes across both accounts. Let’s just double check just for the heck of it. No, it doesn’t. So I could go ahead and trade and lose another five grand in my IRA account. Okay, but I’m not going to do that, right? That would not be a good decision. I’m to read the writing on the wall. I’m going to take my stocks here and rather than risk more money and take this $185,000 I’ve been building over the last year, basically, well, nine months.

I’m just going to say, “Today I’m not feeling it. I’m going to step back. I’m going to throw in the towel and I will live to trade another day.” Now, tomorrow I don’t want to revenge trade. I just want to try to finish the week with a green trade. I’m up. I went from being up about 9,000 on the month now to up only about 3,500, four grand. So this is a decent setback. It’s not a great time in the month for a setback. I was talking just yesterday about how now I’m in the driver’s seat. I can afford to take a little risk. Well, I took a little risk a little too soon and now I’m not really in the driver’s seat the same way I was yesterday.

Now, tomorrow if I see something that’s going to require me to take a little risk, I’m going to have to think twice about it because I cannot have another $5,000 red day. I do not want to go red on the month. I want this first week of the month to be a week of profit. But today I have given back most of what I made yesterday, the 6,600. I’m still net positive, but I have given back most of it. So I’ve got to be really careful as I finish up the week and going into next week. If today is a sign of a little bit of a change or an ebb in the momentum, then I’ve got to respond to that by slowing down.

I can’t just keep going like super headstrong into a difficult period in the market because if I do that, I’m just going to lose money like today, back to back to back to back. I may have to be content with 500 or $1,000 days and I can do that. That’s fine. But I need to accept that that’s where I’m at. That may not be the case. Hey, tomorrow we may end up seeing a stock squeeze up 400% and I’ll trade it and make 10 grand and it’s not a revenge trade. It’s just genuinely strong stock. But if we see things start to shift or start to slow down, I’ve got to respond to that really quickly. So for those of you guys who have been hanging with us here for the last 10, 12 trading days and watching this hot streak, you’ve seen how quickly in a matter of 10 days, how quickly you can build an account.


Full Recap On Youtube!