Warrior Trading Blog

Staying Disciplined For a Win +$150 | Hulkman’s Trade Recap

Hulkman_6.6

Hey traders, how’s it going? Hulkman here, I wanted to go over today’s trade recap. I think there was a pretty good lesson in there for you guys to see. Let me jump over to the screen, I can show you guys what I’m talking about.

Today, I only had AMD on the watch list. There was some other ones in play. There was this CN in play, CN, there we go. This one had a nice pivot  this was a good one. Wasn’t for me, I didn’t like where the levels were so I didn’t trade that one. I didn’t even put that on my watch list. Go back to Amazon, another one on the watch list today was this HOME. HOME was another one. Again, not something that was for me. I don’t like this price range for one. Then, I like when this 15 minute time frame, 20 EMA is closer to where we’re going or if there’s a pivot lining up, then I’ll look for a pop on a basing setup. Nothing here was for me, so didn’t have that on watch.

What I had been watching, the only one I had on watch today was A&D. I’ve been stalking A&D for better part of a week, two weeks now. I’ve been sick. I was sick, that’s why you guys haven’t seen a video, I was sick the last week and a half of May. I was really, really out of it. I got really, really bad there with bout of bronchitis and the flu. I took some time off, still was in chat but wasn’t really active. I just laid in bed watching the chatroom, so you guys didn’t see no videos. Not much trading over the last week and a half of May.

Then, this week, this is the trade I want to go over on Monday, I believe it was. Let me get my calendar. Yes, it was on Monday. Monday, we were watching this A&D. I’ve been watching this one for about a week, two weeks now. Looking to get into this 30 pocket, you can see a clean, clean pocket on the daily chart from this $30 level all the way up until this 33. I got a resistance here at 3179, a minor one. On Monday, took this trade. Initially [inaudible 00:02:08] we were looking for a volume just like we had here, high volume. Got in on the pullback and added as we were going through the move.

Thought we’d get up into this 30 pocket, ended up only getting a piece off, made about 500 that day. That was a pretty good trade, stopped out the rest, break even. After that, didn’t trade anything else. That was Monday trade. Tuesday, no trade. Then, today, this is today’s trades, this one was on right here, Monday 3rd. Then, today, we had this A&D. My voice is off, I’m still getting over being sick. My apologies. Saw this on A&D. What I was looking at for this was to get… We got up and held into this $30 pocket off of this $30 level here, $30 pivot. I was looking for this to push on a hard push, come up, retest VWAP and pull back.

Bad part about this one, where the key lesson comes in today, is you could see here on the granular timeframe, bring this over here for you guys, I was eyeballing it right here. What I had, I had this trend line up from the pre-market just like so. Nice speed line. I was looking for this to pop up, pull back and hold these averages or hold VWAP and push. I looked away, my dog started barking and I looked away, tell him to be quiet right in this area and I ended up missing the move.

Initially, yes, I kind of get too irritated but that’s okay. Important part is not to chase. Today was one of those examples where had you have chased, yes, you would have been right and you would have made some money. In the long run, chasing is not a viable strategy or anything that is going to help you pursue… Or anything that’ll help you reach your goals or your dreams regarding trading. Chasing is not something I do.

Missed my entry, lot of the traders caught it. I know Mike caught it, Andrew, one of our other mentors, caught it so very, very happy for them. What I did on this one is I just waited. I almost chased right here but I was like, “No. You know what? I don’t chase, haven’t chased since I started. Not going to start now.” What I did was start to watch it on the five minute. I said, “Okay.” I told everybody in the chatroom, “I’m going to watch A&D, wait for a clean entry.”

Now, the key point to this trick for me was it kept extending, extending and what I like to see when you have opening strength like that is I like to see the five minute. This is your first five minute candle. The range of this candle [inaudible 00:04:48] and it lines up on volume. Now, you can see the pullback. Look at the pullback. Oh, there we go, decreasing volume on the way into the pullback. Then, if you get more granular with it, this is your pullback zone. Nice decreasing volume and as it starts to hold, you can see that the volume starts to come up really, really quick when you’re watching this in real-time.

We held this first opening range, five minute candle. What I had up on this was, on your granular timeframe, come back in, I had my Fibonaccis up. I use the Fibonacci levels on my long trades, something I like to use a lot. You can see that we had the hard move up, decreasing volume on the five minute. I do not watch the volume on this 24 second chart. Usually, it’s off like this, hard push up, decreasing volume on the five minute, coming back into support. I want to see this, not a hard sell off, so this would have been a hard candle, hard wicking candle, and a lot of volume, then that’s a reversal or a sell off indicator for me.

This was a nice, controlled, easy pullback into support. See this gray line I have, let me remove this Fibonacci, this gray line right here is this five minute. What I do is I place it on my five minute opening range candle and then I copy it over to the rest of the charts, takes a split second. I just place it, apply, move it on all your charts, have it here. This is where it held this five minute opening range. You can see how cleanly it held right into it. I knew we had VWAP, I had Fibonacci, look at all the support you have.

Fibonacci at the 382 level, this is my favorite one to go off of, so we had the VWAP. This is my 13 EMA and my 382 Fibonacci, coming into all this support, so I had orders at 62. I had orders at 60. Then, I had orders at 55 just in case we got a flash through. Picked it up here, sold some as got my entry right… Show you guys where the entry was. Initial entry was as we started to come in here, second entry right there. I started to take profit, first profit order was at [inaudible 00:07:41] first profit was at 75. Oh right in this area, took more profit at 85. Then, the final profit as we started to approach here into the high of the day right here in 91.

The reasoning I took profit, usually what I look for on this type of move is a high volume push like we saw here. As you start to break through the high of day, you want to see a high volume push. This was a perfect, perfect setup but I just didn’t have enough skin in the game. Like I said, I had been gone so took it a little bit easier today on the volume, on the share size. I didn’t see that being such a great move with the last little piece I had left. Took the rest off, I was really looking to load up on this initial entry but because I didn’t, I missed the initial entry. It is important to be in control of your emotions.

Yes, you could have chased today and it would have worked out. In the long run, that will not work out for you. You step back, I didn’t freak out, didn’t panic. Didn’t panic, jump in, didn’t get angry, typed it out nice and clearly in the chat, I’m watching A&D, waiting for an entry. Waiting for a good entry. Once I started to see that, okay, reduce my size because this is a secondary move. I like to move that in the open. Reduce my size a bit and I said, “Okay. I’m going to take this at the next highest probable entry,” which this ended up being a lot of levels of support here. Remove my entries and exits.

A lot of levels of support, you’ve got your VWAP, 382 Fibonacci and your 13 EMA that I use. Very good entry, very happy with this trade. Didn’t get quite the win I wanted on it. Like I said, I was looking for this move here. Key lesson to note that if you miss your initial entry and the stock is truly strong, if you’re longing or if the stock is truly weak, if you’re shorting, it will give you another entry. Do not panic in, do not panic out. Do not chase. Important to be in control of yourself, control of your emotions and how you’re feeling about the trade.

I’m glad to be back. Still feeling about 80% or so, I know I could hear my voice and it’s a little scratchy. Lowered the size until I start to feel better, but we are coming into summertime trading. We have one more earning season left. Important to note that volumes will be less, which means you’ll get a lot less move. I will be trading a lot less from here forward, really going to start being selective on what I trade. Keep that in mind guys for the upcoming months. Other than that, see you guys in the next recap. Hope you enjoyed the video, see you tomorrow.

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.