Another monster day for traders in the Warrior Trading Chat Room. We nailed it today on $LEI and it was STRAIGHT off the watch list and based on our Gap and Go strategy. This morning I pulled up the gap scanner and was excited to see a few low float stocks at the top of the scan.
I’ve traded $LEI in the past (the day it went from $1.85/share to over $10.00/share), and knew it had former runner potential. This basically means when traders look at the chart of the stock they see previous big moves as potential for today. I’m no different. I immediately start searching on Benzinga, Yahoo Finance, and Market Watch for the headline. Here was the news: Lucas Energy Secures $15 Million Financing To Fund Growth Initiative. For a stock with a 1mil share float, this news is big.
From my Pre-Market watch list I wrote at 9am “$LEI: 1m share float gapping up 27%. I’ll watch for Gap and Go setups in the first 15min of the day”. Gap and Go setups mean taking a trade in the first 15min of the market open based on 4 specific types of setups. I trade 1. the break of premarket highs, 2. the first pullback, 3. the red to green move, and 4. the 1min, 5min, and 15min opening range breakouts. $LEI gave us a great early entry opportunity at 5.00 for a break of pre-market highs, and then a second opportunity over 5.18 for the first pullback, and again over 6.00 for the 2nd pull back. In total, I’m walking away with over $1800 profit on the name. Nearly 4x the daily goal from less than 1hr of work.
Making money as a trader isn’t about trading 6hrs a day or taking 30 trades. It’s about knowing which setups to slam with size, and which setups to avoid completely. I’ve developed a strategy for trading the markets that allows me to trade for 2hrs/day and make a full-time income. This is what we teach in our Day Trading Course and Warrior Pro Course. If you are ready to take your trading to the next level we’d love to have you join us.