Warrior Trading Blog

Ross’ Trade Recap: Relaxing on a Green Day +$1,064!

What’s up, everyone? All right. Here we are Tuesday morning. Ending the day up a thousand bucks. A thousand dollars a day keeps the job away. I’m happy with that, but you know what? I was up $2,000 and then I ended up giving back some of those gains.

 

I actually went into the red and then I had to dig myself back out. Today, just like yesterday, a really choppy day, but I got some redemption on GIVO, so I’m happy about that. Let’s break it all down in today’s Mid Day Market Recap. What’s up, everyone? All right. We’re going to go over the trades from today. Another pretty wild day for me. Actually, I started in the green, then went into the red.

Then had to dig myself out of the hole and now I’m up $1,000 on the day. Even though I thought today was going to be a lot easier because we had this stock, ASTC, which is up 225% right now, it really was not easy to trade. I lost 2,800 bucks on it. GIVO up 86%.

COCP Stock Chart

I made some money on that. COCP, I made some money on that. CLBS, I lost 60 bucks on it. Despite the fact that we had GIVO and ASTC leading the way as huge gappers, I just wasn’t able to do as well today as I did yesterday. We’ll break down the trades. Now this morning started just like any other day with our gap scanner. All right. Let’s go run this historical scan for 9:45 or sorry, 9:15.

Each morning we got to find stocks to trade and we did today in less than 10 minutes. On this gap scanner, this is scanning the entire market for stocks that are going to open higher. We have our pre-market trading session.

During the light pre-market volume, these stocks were already showing that they were going to be opening higher. ASTC was up 228% at 9:15, but unfortunately on this one you can see the bulk of the move happened pre-market. By the time the bell rang, it was already extended. I tried to jump in and I just wasn’t able to do really well on it. Here’s what happened, I’m going to bring this back down to a 10 second chart.

10 second chart. On this one, we saw that there was a headline right down here. We’re watching the news on it. We saw obviously that it had a lot of volume pre-market. Over 3 million shares. My bias on this was that I wanted to trade it to the long side right out of the gates. I wanted to buy it. All right? The bell rings and I’m watching it over $6.83.

However, in my mind I’m thinking yesterday when I jumped right into GIVO out of the gates, what happened? I lost $3,000. I didn’t want to do that again. I kind of hesitated for a second. I had my order ready to buy for a break of $7. It dips down and then next thing you know it’s at $7.20, $7.40 and I’m just sitting on my hands.

I didn’t take the trade. I missed this great opportunity. I called it out to you guys that I’ll most likely be a buyer over $7 and then I just didn’t take the trade because I got a little nervous right before the bell thinking back on my loss on GIVO yesterday. I missed the trade. It pops up to $7.40. It kind of pulls back for a second and then ended taking a stab on this … Let’s see. We got a high of $7.67, which was awesome.

Then you could see it dropped all the way back down here. It curls back up. As it curls, I ended up getting in right here at $7.34. I jumped in this at $7.34. This is my trading window here. I’ll just minimize these ones. All right.

I’m in at $7.34, $7.35 and $7.50. It pops up to a high here. Retest high day of $7.78. I’m selling and taking profit. Boom. That’s a $2,000 winner. I was like awesome. 2,000 bucks. That was sweet. All right. It pulls back. It drops down. Consolidates. Drops down. Drops down.

Then it comes back up right here. I get back in. I got back in for the break over $8 and I got in right here. All right? I got in right there. It had broken $8 once.I was getting in for the … Why is this not working? I got in for the second break back over $8. Target was $8.15 and that was the first five minute candle to make a new high. That was right in here.

I’m jumping in here for the break over the highs and what happens? It pops up and then it drops down like that. Actually I held through this drop here. It curls back up right here and then that happened. Just like that, boom, I lost $4,000. I gave back all of my profit from the first trade plus $2,800. That was really disappointing, you know? It was I thought a good quality setup. It popped up and it hit a high of $8.07 and then boom, it just dropped and it dropped really hard. This is what we would call false breakout. When I look at my metrics, my accuracy’s about 70%. I’m right 70% of the time. 30% of the time I’m wrong.

This is simply part of the 30% where I’m wrong. I don’t think I broke any rules with it. I don’t think there was any mistake that I made on it. It’s just a trade that didn’t work out. It’s just part of your margin where you lose money. Every trader has that. There’s no trader who’s right 100% of the time. It was disappointing. Like that I went from being up two grand on the day to being down two grand on the day or 2,800. Now it was kind of like all right, what am I going to do? I saw it just kept going lower and lower and lower. For me this one has been out of play. Now it did curl back up right here and tapped the VWAP as you can see.

CLBS Stock Chart

It’s the orange dotted line. Technical indicator that we use, but I didn’t want to go back in there so I just … For right now I’m just letting it be. On ASTC, it’s up 200%, but I lost money on it today. It’s just because the majority of the move was pre-market. I tried to get on and ride a little bit of the wave. I just got on a little too late, and I got hit on the back side of it. It is what it is.

Now I took a trade on CLBS. I took two trades on this one and I’m down 60 bucks on it. My first trade was getting in when it hit the high day momentum scanner as it squeezed up here on this first spike up to $5.22. Didn’t hold that level and I got stopped out as it came back down.

I then got back in right here as it started to curl back up as it broke over the VWAP. On that one I made back some of my losses, but I’m still down 60 bucks on the name. Two trades on that one and I’m red on the name. COCP, this one’s kind of interesting. When someone called it out in the room, I was like, “I don’t know about this one. I’m not sure I like it,” but next thing you know, it pops up. I said, “If it breaks over $4.80, that’s where I’m typically going to be a buyer.” I called it out. I said, “$4.80 is the breakout spot.” All right? Well, I actually got in it at … Let’s see. Where’s my order? I got in it at $5.

I got it in $.15 higher, almost $.20 higher than the breakout point. Even though the breakout point was $4.80, I wanted that extra confirmation. I wanted to see that it was stronger. Some of you guys probably got in it before me and made more than me on it, but I got in at $5. Once it was proving strength, at that point it was hitting the high day momentum scanners. This scanner up here is showing us stocks in realtime squeezing up. You can see … Where is it? It’s hitting right here. It first hits at … Actually maybe I first hit it at $5.26.

It was called out in the room at $4.80 on this pattern right here and I was a little hesitant because I was like, “Well, it doesn’t have the scanner alert, but I do see it and the daily chart is decent especially if it breaks over $5.” I took a stab at it. Hits $5.24, $5.30. On this one, we got up to a high of $5.50. A $.50 move right there and I was in with 10,000 shares. Just like that I took my profit on the way and locked up a $2,800 winner. Almost a $3,000 winner. That was good. That covered the ASTC loss. Then the profit today is on GIVO. All right?

GIVO is the one that gave me the actual profit, which was kind of unexpected given how expensive it is, but I took a couple stabs on this one. I’ll go back on the one minute chart here just because we don’t need to look at the 10 second chart on this one. On this one, we got this first nice little breakout at $18 right here. This was called out in the chatroom to watch it over $18. It breaks $18. It hits a high of $18.88, but then it drops on this candlewick all the way back down to $17. Drops to $17 and then it curls back up. It curls back up. I finally got in in this area here as it start to really open up and show strength.

I got in at $20 and then I was adding at $20.50 and $21. I was selling on this move right here. For me, I didn’t get really aggressive on it, but took a couple trades. Made a thousand bucks. With that, I turned my day around. I went from being down 2,800 on the day to being up a thousand and I’m happy with that. Definitely it’s a bit of a wild day because I start by missing my very first trade on ASTC, which would have been an easy winner from $7 to $7.50. I mean that would have been a $3,000 winner easily with 7,500 shares. I missed it. Excuse me. I take a little trade at $7.30 to $7.70 or whatever it is. Make 1,700 bucks, 2,000 bucks.

Then I give it all back on this ugly drop. Just kind of frustrating there that I didn’t really execute according to my plan. I hesitated a little bit. That’s one of those things. Sometimes when you hesitate, you missed your window. You missed the opportunity and then you can try to catch back up, but now you’re off your line. You’re not focused. It’s the catch up game. It’s just not happening. I’m a little disappointed at this one not … I mean I’m disappointed in the way I traded it because I had really good ideas and I just didn’t really execute on them, but having said that, the majority of move was pre-market and I don’t trade pre-market.

It doesn’t mane that can’t trade pre-market. You certainly can. I set the expectation for you guys that you can make a living trading one hour a day from 9:30 to 10:30 A.M. Eastern. You don’t need to get up at four in the morning to watch pre-market charts. I mean just start trading at 7 A.M., but you don’t have to get up super early. You can get up at 9 o’clock, trade for an hour, and then be done for the day. Similarly yesterday. Yesterday I made some money back on GIVO after the Mid Day Recap. Actually finished yesterday up $7,700. Plus the thousand today, I’m up $8,800 or $8,700 on the week, which is awesome.

Yesterday I ended up trading GIVO between 11 and 12 as it started to move right in this area, but then at noontime I had to go. I had a meeting. I had to take off and go to this meeting where we’re working on the trading sim and the chatroom. That meant I missed an opportunity. For me, I trade … I mean really trade part-time. About a third of … Actually not even. Probably realistically each day two hours is focused on trading. The entire rest of my day is focused on the things that we do behind the scenes to keep Warrior Trading running.

The chatroom, the simulator, the classes, making new videos for the classes, updating the existing content, meeting with the member support team, meeting with the marketing team, flying out somewhere to go do film something or to have a meeting with someone. I mean for me that is the bulk of my time. That’s a choice that I made. For me, it’s obviously really rewarding and gratifying to see you guys in the chatroom saying, “Hey Ross, thanks. I had my first $1,000 day. I had my first month where I made, whatever, $5,000.” Chet sent us a video last week. I have it here somewhere.

I’ll play it for you at some point where he said, “Ross, my last day at work was October 29th. Since then, I’ve been trading full-time thanks to you.” Thanks to this community that we’ve created. Those are the rewards for all the time spent in the afternoons and in the evenings working to build up this infrastructure for you guys. It takes a lot of time. It’s sometimes stressful, but I love seeing you guys on the other side turning out those profits. When I first started Warrior Trading, it started as a blog, right? I was like, “All right. I’ll build a blog to start kind of chronicling my journey learning how to trade.”

Then from the blog, it turns into building a chatroom. From the chatroom, it turned into trading classes. From trading classes now we’ve got these live seminars that we have in all these different places. It’s kind of this interesting transformation. Warrior Trading is now in the top 500 largest financial websites in the entire world. We’ve got over a million sessions a month of people coming to visit our website. That’s over the course of five years. Just this thing that kind of started as a hobby and I was doing it a little bit on the side to becoming a bigger and bigger focus. Having more and more traders involved in the community.

More and more educators that have joined us. That’s where we’re at now. As a result, there are times where I missed opportunities for sure in the afternoon on trades, but my goal is that I’ve taught you guys how to trade them. I’ve given you my template. I’ve given you my framework. I’ve given you my strategy and now you guys you can leave the nest and you can trade it on your own. You can of course continue to be in the community where you share your ideas and other traders you talk back and forth and all that stuff. I mean that’s fantastic, but you don’t need me to say, “I’m buying to be a buyer,” right?

On COCP, the entry was at $4.80. Well, I didn’t get in until $5. You know? I called this out before I got in it. You don’t need me to say, “I’m getting in.” You could have gotten in at $4.80 because that was the breakout spot. Same with the stuff on GIVO or this move here on ASTC. You guys are free to trade these on your own because you understand the setups and you’ve learned the strategy. That’s the goal. That’s the entire goal of this community. It’s always been about teaching you guys to trade. It’s been about education. Because when I was getting started, it was really hard to find any decent credible education.

That’s when realized there was such just a huge demand for this type of service. There were so many people, well, just like me trying to find education, trying to figure out what are moving averages, what’s the VWAP, what is a bull flag pattern, what’s a flat top breakout, how does level two work. There was just no credible information out there. I mean there was a little bit here, a little bit there. You can try to piece it all together and I wanted to bring that all together and put it in one place. We’ve done that. It started with something really small and it has grown and grown and grown.

In the next couple of days, we’re going to be moving our stuff into our new office downtown, which is really cool. We’ve got these drawings and everything. We’re just finishing things up. It’s been very cool. We’ve got out space and guys will be seeing the Mid Day Recaps from the new office starting maybe as early as next week. We’ll see. I have to decide when I’m going to start working there. I think others on the team will be starting there next Monday. That’s all to say sometimes there’s opportunities in the afternoons and I’m going to miss them. I get FOMO. I feel like, “Dang it. I missed that,” but for me, I’ve kind of changed my primary focus.

My primary focus is not me just trading my account. I do that in the mornings. I do it so you guys can see realtime examples of all the strategies that we teach. Then the afternoon I got to focus on other things. I’m not the only one that’s like that. John Elten, he’s already logged out of the chatroom. He made his $2,000 this morning. He actually made more than I did. You see that big 60,000 share seller right there on ASTC? It was at $7. Seeing big sellers like that is not what you like to see. See if it comes back up here. He was sitting at $7, 60,000 shares. John, he’s got other things he does in the afternoons. He’s got a couple other businesses that he runs.

He’s got his real estate. See 56,000? When you see a big seller like that, someone’s trying to either unload shares or take a big short position. I don’t usually like to see that type of thing. Anyways, I think it’s a good thing to have an hour or two hours a day where you focus on trading and then you spend the rest of the day doing other things. I think the biggest reason there is that for me, I have what I would say my mental capacity, my kind of … Each morning the emotional fuel tank is full. After one false breakout it drops. Another false breakout it drop a little more and another one it drops a little more.

By 11 o’clock, my emotional capacity to be a disciplined, calm, cool, collected trader is zapped. If I keep trading into the afternoon, I start getting impulsive. I mean even right now it’s like 85 degrees in my office. I’m getting hot. I’m probably going to be a little bit more just quick to do things that are a little more risky. That’s a good time just to step up and say, “I’m done for the day. I’m taking my $1,000 and I’m walking away because a $1,000 a day, that’s a great income as a trader.” The reality is my average is $2,500 a day and today’s a little bit of a slower day. Yesterday was a great day with 7,600 bucks and I’m up 8,600 on the week.

$8,600 on the week. $1,064.80 today. Green is good. It’s the 110th day of 2018 here. My small account that I started with $583 on January 1st is currently at $611,394.79. I’m up $275,000 on the year and it’s June 19th. Half a million definitely within reach. $600,000 possibly. We’ll see how the market is going through the summer and going into the fall. Last year in November I made $80,000. December I made antoher $80,000. In January, I made $115,000. $275,000 in three months. That was all trading one hour a day and the rest of the day focusing on doing the things that I do for you guys behind the scenes. It can be done.

It’s just a matter of learning the strategy, learning the framework, and having the discipline to follow the rules every single day. Those of you guys that are still working on your discipline, you’re trading in the sim. Keep practicing. You get to that point where you can flip and switch with real money. This alert right here that you see on my Lightspeed, this is saying, “All trading is allowed,” because I’m not down more than $5,000, $4,990. If I go down more than $5,000, I will not be able to keep trading. I’m going to get a block on my account that’s going to say, “Nope. Can’t keep trading.” That’s my max loss. I’m just keeping it tight.

One of the cool things with Lightspeed now, I press my hot key and boom, I’ve got my IRA account. Just like that, I flipped to my IRA. No positions because I didn’t trade in it today, but I could have this window up and I could be buying in my main account. Flip to my IRA. Buy it in my IRA and I can flip back just like that. I can toggle between those two accounts using my same hot keys. It’s going to make it really easy. I’m excited about that, but I haven’t felt confident trading in my IRA just yet. Well, I’ve traded in it this year, but right now I’m waiting for the market to pick back up a little bit more. Anyways, that’s it for me.

I’ll see you all back here first thing tomorrow morning. Hopefully we see some momentum continue. I mean I think it’s time to buckle because the market is wild. ASTC, it wouldn’t surprise me if this thing does make a move this afternoon, but it’s going to do it without me. I’m going to take my money, a thousand bucks, and go enjoy the day. I’ve got big plans this afternoon. I’m going to g vacuum the pool. All right? vacuum the pool, you know? Maybe take a little trip to the garden store. Get some beebalms, some echinacea flowers and go plant them. All right. That’s my afternoon. Got a couple meetings and then I’m going go enjoy the day.

All right. I’ll see guys later. If you’re still watching, you must have really enjoyed that video, so why not subscribe and get email alerts anytime I upload new content. Remember when you subscribe, you become a member of the Warrior Trading family.