Warrior Trading Blog

Still Got My Red on But I’m in the Green! +$659!

What’s up everyone? All right, so finishing the morning here up $659. Now, today was an interesting day, because I traded in my main account and in my IRA account again. In my IRA, account I made $2500 of profit, and in my main account I lost $1800, so the net between the two $659 of profit.

Now, what’s crazy is I took a 25,500 position and this trade that I took this morning between the two accounts. I was really in it pretty heavy and with big size, I was able to get a win on the IRA, but then gave back some in the main account. It’s a little bit of a wash. Green, 650 bucks, I’m happy with that. Green is good and we’ll break down all of the trades in today’s mid-day market recap.

All right. Everyone on Facebook, you guys should be able to hear me. Let’s see. You can see CRPOs looks like halted again here, right now. So this was the stock that I traded today. This is halting on a little bit of bounce back up. I’m not interested in it really at this point. 25,500 share position and I only made $659.18. That’s crazy. How is that possible?

I lost $1835 in my main account and I made $2555 in my IRA. I’m glad that I got the profit in the IRA. That’s what’s important. This is really good news here. But to break down the trade, so this one wasn’t on my watch list. I wasn’t watching it pre-market. There was nothing happening pre-market. But right out of the gates it squeezed up from 50 cents to 55 and then up to a dollar, and then it squeezed through a dollar, $1.08, $1.20.

I got in first with 10,000 shares in my main account at $1.31 average and with 8,000 shares in my IRA at $1.29. It’s then halted on a circuit breaker. So it gets halted right here and my plan was that on the resumption I would act. That’s what I did. I was already maxed on full size in my IRA, but in my main account, I added at 45 and 50. So I now had a total of 25,500 shares long this stock at $1.30 and $1.38 in my main account.

It pops up to $1.60, right here. At that moment, my level twos, everything was lagging on my computer, and I couldn’t see the price. I couldn’t tell if it … The last price on saw was 55, and then everything stopped. I got nervous, so I just in my IRA, I pressed control Z and I sold the whole position on the bid. I didn’t realize I was getting filled at $1.60. I really had no idea what price I was getting filled at because I really couldn’t see what was happening. I just got nervous and so I sold, filled at $1.60, $2555. I was like, “Sweet.”

I’m still holding in my main account up about $3000 unrealized from an average of $1.38 with 17,500 shares. I thought okay, that’s fine. It resumes from the halt and hits a high of 75, so now I’m up almost 40 cents with 17,000 shares. It’s like a $5000 winner. So I thought okay, this is getting close to $2.00. I had already said I would try to hold until the first red candle. I would try to hold as long as I could.

In this candle right here, it started to dip down. Let’s just zoom this into like a one second candle. Just to really give you a close look at what happened here. So I’ll back this up. Let’s see. All right, so, the moment of truth. You don’t have a lot of time to think. It resumes. It hits 75. I’m like okay. Okay, good. This looks great. We’re seeing some buyers and then, okay a little dip to 70 and 68.

Okay, that’s fine. This is not uncommon; a little dip here and then I want to see it curl back up through 75, 80, 85, 90. We tap $2.00. I sell my 17,500 shares, book a $8000 winner. That is what I was thinking. Right in here, I’m holding, holding. And then, right here it started to drop below 60 and I was like okay, this is not looking great.

It’s dipping a little too much. And then right here, it dipped enough and now it’s halted. Really in a matter of 2, 4, 6, 8, 10, 11, 12 seconds — I had 12 seconds to make a decision. In this case I made the wrong decision because I decided to hold the position thinking it would dip down and then curl back up. As you can see, the moment it broke below 65, I was like okay, well, I will give it a second. It goes to 60 and then once it broke below that … The problem is, it was dropping more than ten percent. This is one of the things that’s really hard about trading this price range is that it only has to drop 10 cents or in this case 16 cents to be dropping ten percent. And now it’s going to be halted on a circuit breaker going down.

What we know about circuit breakers going down is that they usually open lower. Just as circuit breakers going up open higher, going down opens lower. It resumes right here, way down at 35, 34. I sell 15,000 shares on the bid at 30. I just bailed right here. I gave it a second to see if it would curl up. It didn’t, so I sold it. Still holding 1900 shares, which I sold down here. Really kind of disappointing.

You can see here I didn’t have a lot of opportunity … I mean this very quickly went from being on the right side to being on the wrong side. I know that many of you guys in the room traded this and you sold in here, where I sold my first position. Some of you sold up here and you did a great job. For me, I just … I held a little too long. Right here I was letting it dip down, thinking that it’s not uncommon to see a little bit of a dip and then we want to see it curl up through the high at 75 and from there, we’d be right at 2 bucks.

On another day, that might be what happens, but today, this was just a little too heavy up at this level. It rolled over and I got on the wrong side of it. I wasn’t able to really … I mean this was the best I could do to minimize the damage here. If I’d been able to sell a little faster up here, it would have been better. And if this did this same type of thing on a stock at $2.50, this pul back wouldn’t have been enough for it to get halted.

It wouldn’t have gotten halted, ’cause 13 cents on a $2.50 stock is only five percent, so it’s not going to get halted. It would just pull back and then maybe it does curl and surge back up. It would have had to have pulled back 25 cents to get halted, and that would have given me more time to think and more time to make my decision. Unfortunately on this one, you only have about 15 cents going down to make a decision and I just wasn’t able to make it fast enough.

In my main account, I gave back the unrealized profit and it turned into a loser, which is disappointing on the one hand. But on the other hand, I did a good job on the IRA here: $2500, and net between the two is $650 in profit. That’s a green day. Green is good. $9000 yesterday, $650 today. I’m okay with that. I’m really happy to be growing the IRA. This will open tomorrow with a nice boost up, so it will be $12,000, $13,000, $14,300. Right around there. That plus the backdoor IRA conversion is going to add another 2200 bucks, so this will be up close to $16,000 pretty soon. I just need to get it over that $25,000 line in the sand. The PTD level, and then from there it’s going to be smooth sailing.

I’ve got a little bit of work cut out for me here, but today was a great day. And yesterday was a great day. This account literally has gone from $10,000 to $14,000 in two days. Forty percent account growth. I love it. Really good there, and the main account, yeah, so I gave back 1800 bucks, but $9000 yesterday gives me a big cushion. I’m not going to sweat it. I am net between the two accounts. Again, this is probably part of the challenge of trading in two accounts at once. Your attention is sort of split and making these decisions quickly is not always the easiest thing. Green is good. Not the biggest green day in the world, but finishing up about $650. I’ll be back at it first thing tomorrow morning, hopefully for another green day.

I am wearing my red sweatshirt today. Fought the fear and did it. This has been a good week here. All right. That’s it for me. I’ll see all of you guys back here first thing tomorrow morning.

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