Warrior Trading Blog

Ross’ Trade Recap: Proud of My Trades +$7K!

proud

What’s up, everyone? All right, so here we are Friday morning, finishing the day. Well, it’s kind of funny. I did my midday recap, recorded it, Facebook Live, did my thing. I was up $200 on the day, and while I was recording the midday recap, this stock, CADC, a Chinese stock, was squeezing up.

 

It went from $6 to $7 to $8, halted on circuit breakers, squeezed up to $9. I finished the recap and was still watching it, and I decided to jump in. So I jumped in at 990 and sold as broke over 10 and made 400 bucks. So just like that, I went from up 200 on the day to up 600 on the day.

And then, we started seeing other Chinese stocks start to pop up because CADC had just made this huge move. So I saw YECO pop up. It goes from $3 to 320, 330. I got in at 350. I then added at 355, it squeezes up to a high of 495, 497. Boom, made $4 thousand on it. Took another one. CHNR, jumped in that, made 15 hundred bucks. Jumped in, CNET made scratch, a small win.

So just like that, I made $7 thousand scalping four Chinese stocks because momentum came into those Chinese stocks. Now, that’s the funny thing with momentum trading. We often see that sympathy momentum within a sector.

Sometimes it’s all Chinese companies. Sometimes it’s all biotech stocks. Sometimes it’s all shipping stocks, but we often see momentum clustered like that. So my winners are often clustered together, and they’re often all stocks in the same sector, same region, or whatever the case may be. So boom, from $200 to $7 thousand on the day.

That means I’m up $22 thousand this week. I love it. That is a great way to finish the week. It’s a great way here, kind of coming into the end of the month. So $22 thousand this week, momentum’s back in the market. Things are hot. They’re picking up.

So I’m going to be back at it first thing Monday morning, ready to put the pedal to the metal and try to make the most out of this little window of opportunity. All right, so we’ll break down the trades from the first part of the day that got me $200 in today’s Midday Market Recap.

All right, what’s up everyone? So we’re going to do our Midday Market Recap. We’ll go over the trades from today and we’ll go over some of the trades from the week. So it’s been a pretty good week. I’m finishing up $15 thousand give or take.

Well, I know it’s above 15 thousand. Maybe it’s 15,500 or something like that. But in any case, close to 15, 16 thousand. A solid week, but for me, I did have a good size red day. Biggest red day of the month actually, down 57 hundred on Wednesday. So if I hadn’t had that $57 hundred loss, this would be a $20 thousand week, which would obviously be a lot nicer.

But we’re still in a market that’s been a little bit difficult. Momentum is picking back up, but I’ve had a couple of times this week where I took trades and kind of had funny entry points, and was expecting more follow through and just didn’t really get it, and that ended up costing me, especially on Wednesday. So the good news is that I had two really big winners this week, two $10 thousand winners.

So those two trades really carried the week, and that’s how it usually is when I look back on my trades, it’s like it’s one trade here or there that really puts a big dent in the PNL. Last month, it was BOXL making $24 thousand on that stock in one morning or one afternoon. Making $11 thousand on it the next day, or 15 thousand on it the next day.

It’s that one stock that really made the difference. The month before, made 15 thousand on LEDS and 12 thousand HEAR, H-E-A-R. Month before that, a $13, $14 thousand winner on CALI. So these single trades, they always are really nice to get because they just give you that big cushion. Today’s a day where I didn’t have any single big winners. I’m up 200 bucks. I mean, this is a basically a break even day for me as far as I’m concerned, given the way I trade. Yesterday was $13 thousand, today’s 200 bucks. So it just goes to show, I didn’t do anything differently today. I traded my same strategy looking for the same type of set ups, and the market just wasn’t as hot today.

So what’s important is that I respond to that by taking my foot off the gas. I was like, “All right, looks like we’re coming into some rainy weather. I’m going to take my foot off the gas. I’m not going to try to set a record lap time here. I’m just going to go easy, try to finish in one piece, and green is good.”

You can see here, five stocks I traded. No big winners. No big blow outs. This is just kind of choppy stuff. And accuracy today, right around 50% pretty much. I mean, it has six trades, three winners and three losers. So I mean, whatever. Today’s just a day where we didn’t see really good follow through.

All right, now this week, on Monday, very first trade right out of the gates. It was kind of interesting because just to kind of do like a little bit of a week in review, on Monday we had GEVO. Super, super strong stock, but it started the day by going in the red. And my go-to strategy for trading these types of stocks is to jump in for a break of the pre-market high. And this is how it opened.

All right, it opened at 528. I jump in, and boom, it drops down to 460. I get stopped out and I lose $3 thousand. It ends up all of the sudden breaking the V-wap and squeezing up all the way to like 11 bucks. But for me, by the time this was happening, I had already … I mean, I’d lost 3 thousand on it. I tried to make some back, but I felt like I was chasing the move. And ended up making back a couple thousand bucks, but overall, I was just not happy with the way I traded this one.

So got stopped out and then it runs. Now, I had a trade that I took, XSPL, off the high of day momentum scanner on that same day. And that was a big winner. So this one I chased a little bit. I got in high at I think $9. But you can see it squeezed from a low of 8 all the way up to 11.50. So that was my first $10 thousand winner of the week. So that was a really nice trade.

So I finished the day up $76 hundred. And then Tuesday, CLBS. We’ve got this stock that’s gapping up big. I jump into it and what happens? The same thing. I jump into it and I end up losing … Where was this? Do, do, do, do, do, do, do. I got in at 450. Yeah, I got in right here. Ended up losing money on it as it came back down, lost a couple thousand bucks.

And then it … Sorry, sorry, sorry. What day of the week is this? This was the 19th. Yeah, I think this was the day. So I get stopped out of it. Oh, this was actually Wednesday, sorry. Tuesday, Tuesday made a thousand bucks and it was kind of a wash. It was a little bit of this, a little bit of that. But ASTC, that’s right. So let’s go in chronological order. So Tuesday was ASTC.

This was the stock that was gapping up big on Tuesday. All right, so Tuesday it’s gapping up, but by the time the bell rings, it had already made the majority of the move. So it just really didn’t hold up very well and I ended up losing a couple thousand bucks on it and that was kind of annoying because it was the biggest mover of the day, and I’m red on it.

So I was a little irritated on that. Next day, lost money on CLBS. Another one that was a big mover, but it stopped me out on this drop before I ended up squeezing up. So I lose money on it, that’s really frustrating. NAKD, same thing. I jump in it, shows a lot of potential, but it stops be out before it runs. So just that kind of thing is really irritating.

So what I decided to do yesterday was instead of jump in right out of the gates and get stopped out, I’d wait for the bell to ring and wait like 5 or 10 minutes. Just give it kind of a chance. Give things a chance.

And that’s when I ended up getting that nice trade on XBIO. This one I didn’t jump into as soon as the bell rang. I waited for it to consolidate a little bit and then when it started to take off, I jumped in at actually 450.

So I jumped in it at 450 and I sold on the move up to $7. That’s a big move, right? So made some money on that one, $10 thousand, and that was pretty good. CADC, okay I see you guys looking at this one. I don’t know, this scanner’s not working at all. I got to figure out why. But in any case, CADC is halted. The thing with this one is that it’s a five cent tick stock, so it’s trading in five cent increments, 650 by 655 et cetera.

Everything’s quoted in fives and zeros. We haven’t usually wanted to trade these very much. I’d probably leave it alone, but if you’re able to make a little money on it and scalp it, then I’d probably take that profit as quick as you can. So anyways, Monday, 7 thousand. Tuesday, a thousand. Wednesday, I lost five grand.

Thursday, 13, 14 thousand. And today, 200 bucks. So kind of a good week, but definitely some losses mixed in there. Just because the momentum, a lot of it has been pre-market, and we haven’t seen really, really good follow through during the morning. So today, took a little scalp on RENN, R-E-N-N.

This one is a gap down reversal on a dividend. I don’t usually like trading them, but it started squeezing up. I jumped in it at 245 on this one minute micro pullback. And I’m selling on the move up to 260. So 5 thousand shares, quick 12 cents or whatever it is. 600 bucks. Next one down, ASTC. This one I jumped into at $5 for the break over 5. Average was actually 505. I was in a little high. Squeezes up to a high of 529 and I took some profit there on this little one minute micro pullback, so I got in a little high for the break at the half dollar. Next one down, ACHV. This one got a partial fill on this spike. It didn’t hold and I stopped out, lost 28 bucks.

So it was getting in for the break of $4, that didn’t happen. ABIL, all of these were on the scanners. That’s how I was finding them. This one, I took my first trade on a micro pullback right in here, around 30, 630. And I made about 600 bucks. And then I got back in right here and then I gave back the profit. I stopped out. So I went from being up 600 to down 350 on it. Maybe held that second trade a little too long. And SLNO, I took 3 trades on this one. And this is kind of that similar thing. It’s a gapper and I thought it was going to go and it jut didn’t go. It was just choppy in here. So first trade, I lost 500 bucks on, and I made back 500, and then I lost 600.

So choppy, choppy, choppy. So today wasn’t really my day. I was watching, looking for opportunities, but just really didn’t see anything. Once we started getting closer to 10:30 I was thinking, “All right, I better close up shop because the reality is if it’s 10:15, 10:30, and I’m only up $219, that right there is the rain on the windshield. That’s telling me, “Slow down, you’re not doing well today.” I’m happy with 200 bucks. I mean, that’s great. But yesterday I made $13 thousand. So just tells me that the market’s not quite on my side today. I’m not seeing as much follow through and it’s better to step out than to get myself into trouble.

So following my own advice there. Stepping out of the market. Walking away with $15 thousand. You got to know when to walk away, and obviously we come into the market every day looking for profit. For me, $200 is not what I was looking for today. I was looking for at least a thousand. I was up a thousand and then I lost it on that last trade on ABIL right here. So that’s all right. Had a little bit of a cushion to work with from yesterday and gave a little bit of the profits from today back. But at this point in the month, I still have to be conservative.

If I didn’t have that big loss on June 1st, start of the month with a horrible red day. If I didn’t have that first loss on June 1st, I’d be up $22 thousand this month. And here’s the deal, $22 thousand would be my second worst month of the year. $22 thousand for me is not a lot of money when I make 115, 120 thousand on a good month. So it’s not been a great month. I am in the green, but not by nearly as much as I would be if I hadn’t taken that big loss on June 1st, and if the market was just a little bit stronger. Second week of June, or the first full week of June was very slow. Last week was very slow. This week, things finally started to pick up a little bit, but I wasn’t able to capitalize on it as much as I wanted to.

I missed NAKD. NAKD was the only one I’m really disappointed that I missed. I’m disappointed because I traded it … Where’s the day we had the big move? I traded it, but then … Here it is. But then I got stopped out and missed this nice pop. Now, I mean, in hindsight this isn’t the cleanest looking move I’ve ever seen, but there were definitely some opportunities there, and I just ended up not being able to get it because I was too aggressive on CLBS, and that one stopped me out, and then I was below my max loss. Anything below $5 thousand, I’m done for the day. So oh well. The good news is I’m up 15 grand on the week, life is good. Summer’s here, so I’m just going to enjoy it and not stress too much.

So the account’s sitting right now at about $87 thousand. I took out 20 thousand earlier in the week to pay some bills. So if I had left that 20 thousand in, I’d be up back over 100 grand and I’d be looking at taking out some money. At this point, if I’m getting up over 100 grand, I’m going to take some money out. 100 grand, take some money out. I don’t really need the full $87 thousand in there, but what you’ll notice is that some of these stocks, these ones all show 25%, 25%, 25%, 25%. So that means I can use my margin. This buying power, this $346 thousand, I can use all of that on this stock. So I could buy like 40 thousand shares of it or something.

However, let’s see, let’s look at a couple others. RENN, that’s marginable, so that’s fine. BLXL, that one’s not marginable. So this one I can only buy with my cash balance. So with $87 thousand, I can buy like 15 thousand shares of this stock, so that’s no issue there. But let’s look at GEVO. GEVO, no, that one’s okay. Let’s look at ABIL. Actually, a lot of these ones are okay. It’s kind of surprise. IMTE. What? Did I lose my internet connection? What’s going on here? That’s weird. These ones are both marginable. Well, so I guess that’s interesting. But in any case, if the luck of the draw, what was it yesterday?

XBIO. See, this one I didn’t think was marginable yesterday because I got an error on it. XPLS. Well, if you find stocks that require 100% cash balance, then the problem is if I draw my account down to let’s say $40 thousand, I could draw this down to $40 thousand, give myself 50 grand. I could do that today. It would be at 37 thousand tomorrow, or on Monday. But then if a stock comes up like BOXL, or LEDS, or … Well, whatever.

This one’s marginable again. But a couple stocks come up that aren’t marginable, then I’m going to have a problem where I’m going to be unable to generate the profits that I want because I don’t have enough buying power. So GBR. So this probably the best example. Because I like to trade when I’m being aggressive with 10, 15 thousand shares.

So I need to be able to have enough money in my account to buy 10, 15 thousand shares with cash just in case the big mover of the day happens to be on margin restriction. So you guys hear about short traders doing that type of thing for sure. They put things on margin restriction. But so does Lightspeed. So do a lot of brokers. These are very limited, which the numbers that Lightspeed does it on. As you can see, very few are on margin restriction right now. But you will find them now and then, and I don’t want to take money out because then it could hinder my ability to make money.

CADC, it was halted. There’s the resumption as you can see. High is now 790. Look at that, from 550 up to 790. But here’s the problem. That’s a big spread. 675 by 90. Looks like it’s going to halt again here. Sometimes if in an aggressive mood, I’ll buy into the first halt like this, coming out of the first halt. I’m not going to do it on this one just because the volume is very light, only 173 thousand shares of volume. It’s up 65%, but the five cent tick is really the thing that makes it too hard for me. I can’t trade five cent ticks. So now it’s going to be halted again because it just went up another 10%. So let’s see, the halt time is 10:45, so the resumption should be 10:50 and 34 seconds, unless it’s a 10 minute halt, and then it’ll be 10:55 and 34 seconds.

But you guys could watch for sympathy momentum because what sometimes happens is when you see one stock do this type of move, the next one that hits the scanners, traders are like, “I’m not … I just missed CADC, I’m not going to miss this one.” And then they jump in that much quicker. Yeah, this … I got to figure out why this scanner is not working. Oh, there it goes. Okay. That was a little suspicious, but all right. Why did it not show the first time? Very suspicious. All right, well anyways, now it’s on there. All right, so let’s see. Yeah, for sympathy momentum, that’s the thing you’ll sometimes notice.

So CADC is strong. Are you going to get another one that starts to take off because that one’s strong? I don’t know. Friday, coming into 11:00 AM, coming into lunch. Maybe, maybe not. PTIE, this one I don’t really think so, because it’s a gap down reversal. So immediately traders are going to be like, “It’s got resistance to the upside.” It might, but I don’t think it’s going to go parabolic.

Yeah, I think … But just keep an eye on the scanners. What I look for is the ones to hit in yellow. Yellow, yellow, yellow. That’s what I like. So you guys have access, all of our Warrior Pro students, to these same tools. So you can see these stocks in real time hitting the scanners. You can be getting in them. Before I get them, get in them.

Some of you guys are in CADC right now and I’m sitting on the sidelines. It’s not because I don’t see it as a potential opportunity. It’s just where I’m at on the week, where I’m at on the day. I don’t feel like I can justify the risk of taking the trade. But that’s just the way it goes sometimes. Some of them are going to run without you. You’re not going to get every single one of them. But if you get a little bit of profit every single day, then the reality is you’re doing something 9 out of 10 traders haven’t figured out how to do. So you’re really, you’re winning there if you’re doing that.

All right, so anyways, that’s about it for me here. I’m going to let you guys go enjoy the afternoon. Enjoy the weekend. Weekend’s here and we’ll be back at it first thing Monday morning. Any of you guys who are going through the classes, study up this weekend, because the markets are picking back up. We’re seeing some hot momentum.

CADC, I mean, it’s just another example, even though I’m not trading it. We’ve seen … How many stocks have we seen this week go up more than 50%? I mean, 10? 15? Maybe 20? This is up 65% today. These are the type of stocks that are really giving us opportunity. All right, so anyways, I hope you guys have a great weekend and we’ll be back at it first thing on Monday morning.

Oh hey, I didn’t see you there. Well, 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.