Warrior Trading Blog

Summer Trading Lull, but Still Green! +$726 | Ross’ Trade Recap

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What’s up everyone? All right, so here we are, another green day of trading up $726. Not the biggest green day in the world, but green is good. I think we’re still in this summer, slow trading lull where the last couple of weeks we haven’t seen any huge, huge movers.

 

There’s been a little momentum here and there, some flurries enough in the last week for me to make some good money, but today was slow. Yesterday was slow and just a little bit of a grind. Right now, take what you can get, be disciplined and really it’s like get the money and get out of the market. Don’t overstay your welcome because if you do, you’re going to give back to your profit. Morning trading, first hour, that’s when the momentum is really the strongest even in this slow market.

That’s the name of the game right now. Get your profit, get out, and I did it today. $726, four trades, four winners. Green is good. All right, any questions? Any comments? Leave them below and I will see you guys all back here tomorrow, 9, 9:15 for premarket analysis. All right, see you guys in the morning. All right everyone. We’re going to do our midday market recap. Go over the trades from this morning. Overall market is in the red today, but I’m in the green so that’s good. You can see S&P 500 here down another red day. Overall market’s down 269 points right now and I’m sitting up as you can see here, $726.90. It’s not the biggest green day of the year, but green is good. Right now we’re still in that slow summer.

August trading and it’s just take what you can get. We’ll go over the four trades today. PTIE, IDRA, TAIT and STAF. Again, nothing really to be excited about. Biggest winner only 300 bucks, $295. Today for sure is a slow day, but I’m green on the week and trying to stack up these profits a little bit. Slow and steady wins the race. Really, it’s just about being really focused on getting the most you can out of this market and not trying to overstay your welcome. Not trying to push it too hard because we are definitely in the summer trading lull. Things for the last I would say, well last week actually was pretty good, but really for the last two weeks, three weeks it’s been choppy. Things started to shift around the 18th and 19th of July.

I don’t know, end of July, first week of August, not a lot of follow through. Last week, made about $8,000 which was good. This week I’m sitting up, let’s see, 36, about 16, $1,700. I’m going to write it in the calendar today, make it official $726.90 on the 150th trading day of the year. We’re more than halfway through the trading year and right now I’m sitting, let’s see with, where’s my PnL? Just scroll down here. Sitting right around $362,000 of profit on the year, so 362 right now. Not bad, you know, that’s pretty good. Getting really close to last year’s total profit of 380 or 370, it’s right around there so that’s pretty good. Still had that big goal of 600.

I’ve got a ways to go to hit that but you know, the way trading is, when you get that flurry of momentum, suddenly you can have two weeks where you make $100,000 and you just get, you know, these huge opportunities back to back to back. That will happen eventually. It’s just a matter of time. But you know, a couple of weeks like that will put a big dent in my annual target. I see PTI still grinding up right now at 58%. Still up versus my first entries, which is good. But for me, I’m not going to overstay my welcome today, you know, I’m just going to take the money, be done. $726, that’s green, right?

Everyone would love $726 a day so I’ll be happy with that and you know, if this thing keeps going and it’s a good sign of momentum in the market, I’ll just be happy with that. You have to do everything you can not to get FOMO to chase these as it’s getting higher and higher and higher because then you end up being the guy who buys it up here at 82 and stops out back at 70 and you know, a little momentary lapse in judgment, it doesn’t take much to give back the morning profit. That’s why I’ve got the audio alerts turned off so I don’t hear the, the boings when I’m trying to do something else. I’ll turn off this monitor as soon as I’m done trading. Tomorrow. Some of you guys, speaking of FOMO, have been feeling a little bit of FOMO because this month we’re teaching live classes at Warrior Trading.

We’re doing the Warrior Starter live and right now just this week we started the day trade course teaching these live classes every day at noon time. What we’re going to do tomorrow, tomorrow we’re going to take a break from teaching the classes and I’m going to host a live workshop. The link for those of you on Facebook is right in the description below. We’ll put it on the description for those of you on YouTube. For those of you right here in the chat room, I’ll put the link in the announcement. Register tomorrow, 1:00 PM Eastern, totally free workshop, but seats are limited to I think we’re going to have a max of 500 seats in this workshop.

I don’t know where the registrations are at right now, but we’ve got 500 seats. Once we fill that, anyone that tries to register won’t be able to get in. It’s going to be a lot of fun. Any of you guys who have been thinking about joining the classes, being part of the Warrior Trading family, love for you guys to register. I’ll be teaching you my three core concepts for success as a trader, how to manage your risk, how to find strong stocks to trade in less than 10 minutes each day and how to trade the best patterns, where to get in, where to get out. Applying those three concepts I took $583 and turned it into what is now over $700,000 of profit in about 18 months. Think about where you could be a couple of years from now if you learn these strategies and you really get them down.

All right, would love for you guys to register, that’s going to be tomorrow, 1:00 PM Eastern. Today we’re going to have class as usual for Warrior Pro students, 12:00 PM, and we’ll resume classes on Friday at 12:00 PM. Hopefully with some new students that join us during that workshop. During the workshop, we’ll give you guys a special opportunity to become part of the Warrior Trading family. All right, so that’s coming up tomorrow. Now today you can see only four stocks I traded but green on all four names, so accuracy there is decent but no big winners. We’ll look first at PTIE since that’s the one we’re watching. This one gapped up premarket, but then sold off. Hit a premarket high of 1.75. Sold off. I wasn’t sure it was going to be really an easy one to trade because of the sell off.

Daily chart, not ideal. Those of you that are in the classes, you know that we look for these gaps, windows and moving averages. This is coming into moving average resistance. More moving averages to the upside. A nice window from 2.92 right here. Up to well, I guess this is the first level right there, but it has to break through so many moving averages to get there. 7.7 million shares of volume. Now, Jill, she got into this one on the early side at a $1.40, sold it around a $1.50 8, 900 bucks of profit. Nice trade there. I got in at 1.60, I got in right here at 1.60 thinking that, okay, come up, pull back, come back up, and then it would break through. It hit a high of 1.65 and then sold off so 6,000 shares.

I made basically like, I don’t know, four and a half cents, $248, not a big winner. It sells off and at that point I was like, you know what, I’m done with this stock. Then it comes back up here, it goes to 1.68, pulls back. Then right here has one of the cleanest moves we’ve seen in the morning but it is on lighter volume and it is definitely getting extended. Maybe this will squeeze up to two bucks as it breaks over 1.85 and 1.90. It is I would say getting a magnet towards that whole dollar of two. You keep seeing these sellers pop in 17,000 share seller at 73 or at 83 and they’re either short sellers or people taking profit. I don’t know, for me I’m just going to leave it alone.

One trade, one winner on that one. IDRA, this one I jumped into out of the gates. It’s funny, we were watching this one yesterday for a trade over $8 and you know, he all of a sudden I see it hitting the scanners this morning and it’s at $10. I was like wow, this thing really took off. It squeezed up from 8.80 all the way up to 10. What I did is I jumped in it basically on a one minute micro … Well, there’s almost like a 10 second pullback. I’m watching the level two, I see that it tapped 10 and pulled back and as it curled back up inside this green candle I got in at 9.79, 9.81 and I think 9.90. Pops up to 10.25. I sell some of the position, three quarters or whatever half position at 10.10 10.15, and then I ended up stopping out of the rest as it comes back down.

It was 6,000 shares. I only made five cents of total profit, $295. Again, not a big winner. This ended up pretty much rolling over and is back in the $8 range. That one didn’t work. TAIT, T-A-I-T, this was on our gap scanner this morning and it did end up hitting the high day MOMO scanner here. Where was it? Right there at 2.40 and 2.50. I jumped in as soon as they hit the scanner. I was watching it, waiting, jumped in at 2.40, added at 2.50, it hits a high up 2.61. On this one I took profit at 2.55 and maybe 2.58 and then I sold. The rest came back down at like 2.40 and 2.38. Didn’t hold up at all. Only $134 of profit, not a good winter. STAF, this was actually the last one we’ll talk about today.

This was the first one that I traded this morning. I was watching it premarket for a break of the premarket high of 3.16. That broke premarket and squeezed up to 35. It pulled back for a second and so I jumped in once the bell had rung at 33, it drops down to 3.11. I’m down 20 cents. It surges back up to 3.48 and I sell it basically for one cent profit on 6,000 shares. It was a close call and I was just happy to be out of it. Four winners, that’s good but these were basically all breakeven trades. None of these were big winners by any means. It’s just small grinding price action type of trades. I would say, let’s see my average winners today. What were they? Probably like three cents per share.

Let’s see if I can actually get exactly how much it was. Average winners today were three cents per share. That was it. Four trades, three cents per share, average winner. I mean that’s just not a lot of action. That’s disappointing. Yesterday had a sixteen cent winner or something like that on HYRE. That was a really good trade. Day before had a nice 25 cent winner on ABI, but today just not a lot of momentum. Yes, PTIE has continued higher but being a cheap stock, the range is sort of limited. I’d say if you can book profit on a couple of these trades in the morning, take your money, go enjoy the day, come back tomorrow.

We’re still on the slow market of summer. It’s just about making what you can and then getting out. It’s a hit and run type of market, which is okay. I hope that we’ll see a little bit more momentum maybe tomorrow and Friday, but I’ll take what I can get and just keep adding those profits. The goal is to get this account back up to 100 grand and then take out some money to pay myself. Really just keep it going. Slow and steady wins the race. Those of you guys that are learning, that are in the classes, this is a great time to study just because it forces you right now to be disciplined. If you can make money in this market, you’re going to do really well when the market does pick back up.

The problem is if you do well when the market’s hot, well, you know that doesn’t say as much because the market’s really forgiving when it’s hot. Having the discipline to be able to be profitable during a choppy market is something that’s really good for you. All right, so that’s it for me. I’m back at it first thing tomorrow morning and we’ll have class for Warrior Pro students starting in about an hour. All right, so I’ll see you guys in an hour and everyone else, I’ll see you tomorrow morning.