Warrior Trading Blog

July Trading is on Fire +$1,735.39 in 60min – Accuracy is 91% this week

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July Trading is on Fire +$1,735.39 in 60min – Accuracy is 91% this week

 

 

So, it looks like we’re streaming on Facebook Live. All right, guys. Today is the 123rd trading day of the year, and I’m finishing the day up $1,735.39. Not bad at all. This is a great day. This is actually my seventh consecutive green day. In the last 24 trades, I’ve had 22 winners, so accuracy has been really on point in the last week or so. I mean, it’s awesome. I had a great finish to the month of June, and now, starting July with a couple of really good days.

On Monday, I made a little over three grand. Today, $1,700. Puts me up $4,700 on the week. $5,000 is kind of my weekly goal. That’s $1,000 a day. Now, whenever I talk about weekly goals, I mention the fact that if your goal is $1,000 a day, your weekly goal shouldn’t be 5,000, because you have to expect you will have red days. It makes more sense of your daily goal is 1,000, you multiply it by three for a more conservative weekly goal. So 3,000 a week, maybe, would be the correct weekly goal.

If I actually wanted my weekly goal to be 5,000, then my daily goal should be 5,000 divided by three, so 1,500 or 1,700, whatever. Something closer to that. Which, in a strong market, is perfectly reasonable, but in a slower market, it’s probably not realistic to try to get 1,700, 1,800 bucks a day. In really slow markets, if you can even get $500, you’ve done a good job. In any case, I’m up 4,700 bucks on the week right now thanks to one really good trade on Monday and then a couple good trades today. Let’s see. Let me put up my trades for you guys to see. Let’s see. I’m going to turn this around.

You can see here, those of you on Facebook live, these are the three stocks I’ve traded. I’m trying to load StockTwits for you guys that are in the chat room, but for some reason, it’s not loading. Anyway, I posted my P&L on StockTwits. $1,735.39. Three stocks I traded, three names: TEAR, $324; CLSN, $347; and IMUC, $1,063. Those were the three stocks I traded. I took a total of five trades today, so I traded a couple of them more than once, which is not uncommon. For some reason, I can’t get StockTwits to load on this computer, but you guys who are watching on YouTube or in the chat room, you can check it on StockTwits. I’ll try closing Firefox and reloading it.

In the meantime, let me go over the trades today. The watch list this morning, we had a couple on watch. We were watching CLSN, and we were watching … We’ll go through the watch list. The first one was CLSN. This one was gapping up, and I thought it looked good, but I was mindful of the fact that the last few times it’s gapped up, what has it done? It’s sold off. That made me just immediately a little bit more cautious about wanting to get aggressive on it.

Even though it looked totally decent pre-market, the fact that the last few gaps have faded made me think I should be a little careful. Right out of the gates, you can see this dip down for a second. Let me scroll back. It dipped down for a second and then popped up. My first entry was at 268 for the break of 270, pops up to a high of 275. I sold that for, like, three cents profit. Ends up dropping back down. Didn’t hold that level. I decided to get back in, let’s see, for the break of VWAP.

Now, you can see, on the one-minute chart, it had a nice little consolidation here, and you could have scalped the break over 275, but I was a little unsure about that, just because I thought this might be the type that would do a false breakout. So I didn’t go for that trade and just let it pull back. Then, I was so disappointed that I missed this really good break of the VWAP. It sold off, and as it curled back up, it came up to 263, where it tapped the VWAP, and that was right here at 9:55. It pops up to 63 and it pulls back. Just sort of out of nowhere, I would say it was at like 10:00 a.m., I was like, “Oh, you should check CLSN to see what it’s doing. Maybe it’ll set up for a VWAP trade.” I pull it up. It’s right at 62 and starting to curl up and hit 63. I looked at it and I was like, “This looks good.” I was like, “I don’t have time to type the order.” I was thinking should I just press my hotkey to jump right in? I was like no, that would be impulsive. I haven’t been watching it for a few minutes. I’m not sure how it’s trading.

At that point in the day, I was only up 350 bucks, so I was like just wait. Actually, I was only up 250, I think, so I was like just wait. Don’t do something stupid. Then, next thing you know, it did a perfect squeeze straight up to three bucks, and there was no real opportunity to get in after that entry at 63. My impulse was right on. I just was being a little cautious on that one, probably because I hadn’t been watching it. Moral of the story there, make sure you keep those top two or three gappers on a screen so you don’t lose track of them. Just keep looking back and saying, “Okay, is this setting up yet? No, it’s not. Okay, I’ll look back again in five minutes.”

I ended up taking a trade on CLSN for a long at 2.90 right here. I actually got in at 2.88, anticipating the break of 2.90. It pops up to a high of 2.97 or 2.96. I was looking for the break over three. It didn’t happen, so I stopped out of that with an extra, like, 50 or 60 bucks of profit. That brought me from 2.75 up to 3.47 on the name, which was decent. Here’s my P&L today, by the way. So, that was it for CLSN.

Next trade was IMUC. This one all of a sudden hits the scanners, and it’s popping up. When it first hit the scanners, I was like, “Eh, I don’t know. Looks interesting. It’s a little cheap.” Then, all of a sudden, that was at like $1.20. It goes to $1.37, then $1.45, $1.50, $1.55, and it gets halted on a circuit breaker. When it gets halted, I’m thinking okay, now it’s clearly going to be in play out of the circuit breaker halt, so what are the levels that I would watch it at? I usually watch either over the high of when it was halted, which would be 1.56. If it opened lower at 1.52, I would buy it over 1.56.

It ended up opening higher at 1.65, popping to 1.90, and then dropping down to 1.63. I was like, “I need to wait for a pullback here.” It squeezed up to 2.17, it pulls back for a second, and I ended up getting in this one … Let’s see. I’ve got to go look at my orders now. I’m trying to remember where I Got in this one. My first entry was at 2.21, which was, I think, must have been right around here for the break on this one-minute pullback. It must have been right around there that I got in. 2.21. Let’s see. Is that right? IMUC, yeah. Wait. Now I’ve got myself confused.

I got in this at 1.88. That’s where I got in. 1.88, 1.89. I took 5,000 shares. There it is. Okay, there’s the order. 10:32. That was right in this candle right here. It pops up to 1.90. That’s right. It pulls back for a second, and I got in right here for 1.88 for the break over that candle, expecting a break of $2. It pops up to a high of 2.17. It pulls back. I added at 2.21 and then sold the entire position as it spiked here up to 2.34. On that trade, which was one entry, and then adding up here, I made 1,000 bucks, which was good. I mean, it wasn’t a home run trade, but it was a decent trade. This was based on almost a one-minute opening range breakout after the stock had been halted and then resumes, so entry was right there.

Then, let’s see, last trade was on TEAR. On this one, again, it starts squeezing up, so I was like, okay, it’s showing strength. I’ll jump in. I started adding in the 30s, 2.30, added at 2.40, 2.50. I got myself with a 2.40-something average. It pops up to a high of 2.70. I should have sold the whole thing. It ends up coming back down. I sold on this one-minute candle as it popped up, made a new high. Then, as it dropped back down, I stopped out of the rest. That was only $324. Not the biggest win, but it was something. It was decent.

Let’s see. That’s pretty much it for today. My goal was to come in, take a couple trades, not get too aggressive. Three trades, basically three base hits, all low risk for me. I guess it was five trades total, but all of them were really low risk. Three stocks I traded. One of the ones I missed was MSDI. This one had momentum, but I sort of just missed the opportunity. It went from $1.80 up to $2.20. It went without me. Lots of you guys could have taken this trade on your own. We were watching it pre-market to break out of this wedge. I was saying I like it over 1.80. I just ended up missing the trade. Awesome setup. Easy trade. I missed it, but no reason you guys couldn’t have taken that on your own.

That’s really the goal, is to teach you guys to be able to find these setups on your own in real time. Whether or not I’m trading them is irrelevant. You guys can find these setups and trade them, because these were really good quality. Kendall says he made $300 on the trade, which is awesome, so good job on that one. No reason you couldn’t have taken that. MSDI, that was one.

I saw DRYS gapping up today, but definitely didn’t trade that one. It’s so weak. People just short it as soon as it pops up, so nothing on that one. Mike had an awesome trade on [TSLA 00:11:48], which I was tempted to take this morning, this one-minute bottom bounce right here. I ended up not taking it, just because the spread seemed so big to me. It was kind of overwhelming. From 341 all the way up to a high of 344.

Really nice reversal there on that trade, but I just wasn’t able to really capitalize on that. It’s just hard for me to trade stocks that have 50 cent spreads. You just get used to it, I’m sure, but for me, it seems very foreign. Similarly, I’m not good at trading stocks under $1, because I’m not good at looking at those four decimal points. That’s just not something I’m used to looking at. So, that was TSLA. ORLY, very weak today. Just selling off. It looks like it’s starting to curl up now, but from $200 down to 178. Higher priced stock, but definitely a lot of range for those of you who like the higher priced stocks.

That’s about it for today. The 123rd trading day of the year, my seventh consecutive green day, and we’ll see if we can go for an eighth consecutive green day Thursday. Thursday and Friday, now that I’ve almost hit my weekly goal of $5,000, I can scale back. I’m in good shape. At the same time, this might be a really hot week. This might be a week where I could make another $3,000 or $4,000 on Thursday and Friday, and then, that can tide me over if all next week is slow. Not every week is going to be a $5,000 week. Just because I’ve hit my weekly goal doesn’t mean I’m going to stop, because then, what do I do on a week where it’s Thursday and I’m only up 1,200 bucks? Do I start to get all frantic and crazy to make the extra $3,800 on Friday? Because that’s not the right attitude. You just take it one trade at a time. Fortunately, we’ve had some really strong markets, and hopefully it continues through the rest of the week.

I’ll just take it one trade at a time. If we’ve got good opportunities, I’ll try to capitalize on them. Today was fantastic, Monday was great, and all of last week was terrific. I finished last week with $8,000, so I’m up $12,000 on this seven-day hot streak. 12,000 bucks in seven days is not bad at all. We’ll see how much I can squeeze out of this hot streak before things slow down again. Just keep building up this account.

That’s sort of where I’m at right now. The account is at 58,800 this morning. You can see that right here. I’ll open tomorrow right around 60,000. I took out 70,000 from this account earlier this year, last month or the month before, so 60 plus 70 is 130,000. The account would be at about 130,000 versus the starting balance of $583. The next target on this account is a quarter million dollars, 250,000. I’m a ways away from that, but about $100,000, $120,000 off that level. That’ll be the goal, and hopefully I’ll be able to get there at least by the end of the year, if not sooner.

To take $500 and turn it into 100K in 2017 was the goal. Since I hit that goal, now I’m trying to turn it into 250,000. Once I hit 250, go to 500. Once I hit 500, 750. Once I hit 750, a million dollars. Just keep growing the account one day at a time. All right, that’s it for now. I’ll see you guys first thing tomorrow morning. Bye, guys.

Oh, hey, I didn’t see you there. I was just working on the dream board for my next home run trade. Hopefully it comes soon. Until then, make sure you subscribe to get email alerts any time I go live or upload new videos. Until then, happy surfing.