Warrior Trading Blog

The FOMO is REAL today!! +4.1k

real today

The FOMO is REAL today!! +4.1k


What’s up, you guys? The FOMO is real. I am feeling so frustrated. I told you guys today that it would be a short day because I’m flying to California this afternoon. I started today saying I wasn’t going to be super aggressive because I just didn’t want to push my luck. I don’t want to sit on an airplane for the next six hours thinking about how I traded like an idiot today, so I was like, I’m going to take it slow, I’m not going to push it too hard.

I ended up making $4,000 right out of the gates. Then I’m getting my stuff organized here, getting things packed up, and I ended up missing a really good five-minute setup on PTIE. The entry was at $7. Right now, it’s over 11.50. I feel like I missed this awesome opportunity, and there’s just that feeling of frustration.

Here I am, a guy who made $4,000 today, and I still feel like an idiot because I missed a really good opportunity. That’s just the way the market is. It is not forgiving, so you know what? I’m just going to walk away. I’m not going to keep watching this stock. We’re going to do our midday market recap. I’ll break down the trades that I took this morning, and I’m just going to try to take a deep breath and feel good about today. You know what? I may have missed that opportunity, but it was a good pattern, a good setup. There will be another opportunity around the corner. I’ll hit the next one. Let’s break down today’s midday market recap.

No sooner was I saying PTIE is over 11.50. Does it turn around, drop back down, and it’s at, right now, 10.21, and it got halted on a circuit breaker dropping down because it dropped more than 10% in less than five minutes. You know what? This is just one of those days where I’m just going to be frustrated. I don’t know what to say. I’m so glad that many of you hit this setup. Let’s just look at this five-minute setup and how clean that is.

We took this first trade on PTIE right out of the gates. I was in at $6.15 with 7,500 shares. It went up six points from that entry, so almost six points. Let’s not think about the fact that if I just held the whole thing, I’d be up like 30 grand, but instead, let just focus on the good entry. It was a gap-and-go trade, a break of pre-market highs, and this thing just kept going.

Why did this stock go crazy? Well, this stock had a couple things going for it. [Hakeen 00:02:41], I see 8,400, 8,600 bucks. I saw [Guzzie’s 00:02:45] up over $60,000 today, so some of you guys really crushed it. I love seeing you guys make more money than me because it shows that I’ve taught you well.

PTIE, this is a pharmaceutical therapeutics company. It’s a pretty hot sector. Biotechs have been hot in the past. This one also has a history of being a former runner. It’s a stock that has moved 100% inside of one day in the past. The float, the number of outstanding shares available to trade is 3.7 million shares. That means it has a very limited level of supply, and when you have a high level of demand, that imbalance creates parabolic moves, and that’s what you see here. Parabolic is when a stock goes from $5 to $12 in less than a day. That is a really massive move.

I’m sitting here thinking this morning that I needed to be a little conservative, not be super aggressive, and that’s because I’m traveling today. I already came into the morning feeling frustrated this morning. I was just, at 9:00 a.m., scrambling to get stuff organized. I was up late packing. I’ve just got so many things on my plate right now, and I’m just … My trip to California is not even, I mean, it’s working. I’m going to be working. I’ve got so many meetings scheduled. It’s going to be crazy, and I’m going to trade the whole time.

I’m going to get up at 5:30, and I have meetings until 7:00, 8:00, so I’m just going to be working the whole time. It’s going to be exhausting. I’m trying to get myself prepped. I said this morning, I gotta take it slow today because I’m feeling frustrated and I’m feeling kind of worn out a little bit. I said I’m going to start with smaller size on my first couple trades.

My first trade on LBCC, 5,000 shares. This was a gap-and-go setup. Got in at 5.87, sold at 6.10. Quick 850 bucks. I was happy with that. I said that’s a good trade. Second trade, PTIE, I saw it starting to open up, so I jumped into this one at 6.10, 6.15, and 6.20. Now I’m being a little more aggressive because I’m already up 800 bucks. I know that I’ve got a cushion. Jumped in, squeezed up to 6.50. Sold half. Added back at 6.60. Was selling at .73, .67, back in at 6.70, selling more on that push up towards 7, back in at 7, back out. Getting in, getting out, trading this thing as it was squeezing up. Last trade, 9.18, selling at a high of 9.44. In total, 3,347 bucks on this stock, which you’d say is good.

Like I said, I didn’t want to be sitting on the plane, I didn’t want to lose $5,000 or $10,000 today, and then have to sit on the plane for six hours and think about how badly I traded. That’s the last thing I wanted to do. Instead, I’m going to sit on the plane and think about how I missed this great opportunity, so that’s just great. That’s how you never win.

The pullback here at $7, obviously a nice five-minute setup. The one thing I’ll say about it is it did pop out of nowhere. It sort of, because I was watching it right in this area as it was pulling back, and I was like, well, we’ve got a couple of doji candles in a row. I’m not sure that, I don’t know. It’s pulled back a little more than I’d like, so I look away. I’m getting stuff organized, what do I need to remember, blah, blah, blah, blah. I look back. It’s at 7.50, and I’m like, oh, nice. It’s squeezing through high of day. That’s great. First five-minute candle, make a new high worked. I thought, ah, if I get in here, I’m really chasing it. Just don’t do it. Don’t do it.

I didn’t do it. It squeezes up to a high of 8.05 and just halted for 10 minutes because it moved more than 10% in a five-minute period, so it’s halted. It ends up resuming higher. It taps 8.70. It pulls back. I said, yeah, it looks interesting over 8.50. Didn’t trade it. It squeezes up to 9.42. It then pulls back, and I buy the first one-minute candle, make a new high, which is right here. That was my entry at 10.31, and it pops up to 9.50, so that was a decent little trade. It pulls back down to $9, then it squeezes up all the way to 11. It hits 12.23.

I mean, at this point, I just kind of said I gotta look away because I’m just going to get myself frustrated. Here’s the thing that I want to remind you guys of. Even though I’m feeling a FOMO today, I feel like I missed this opportunity … There’s Derek with $11,657, and I’m seeing you guys posting huge winners in the chatroom, and I’m thinking, eh, I’m only at 4,200 bucks, but you know what? Another opportunity will come.

It’s like this bus left the station. It left it without me. I’ll see another opportunity. It’ll probably be tomorrow, maybe Thursday, Friday, whatever. There will be another opportunity. This isn’t the last time we’re going to see a stock move 130% in a day, so you know what? The better thing to do is instead of trying to jump on this, let’s say jump on it way up here and then get caught deer in the headlights as it pulls back and potentially lose $10,000, it’s better to wait, position yourself in a safe way, right, don’t chase it, wait for the good pullback. This was a fine pullback here at 9.13. That was a scalp. I could’ve been more aggressive at getting in at 9.50, but I said, you know what, just forget it. Just don’t even do it.

Sometimes, I have to stop looking at the screen. I just look away. I sit on my hands. I get up. I walk away. It’s just anything I can do to prevent myself from chasing because buying a stock up here at 12, look at how fast it went from 12 all the way back down to 10.50. That can be really bad. I mean, you can easily lose 10,000 bucks in a pullback like that.

This one may give us more opportunities today. This is a five-minute candle, make a new high, but I’m throwing in the towel on the day. I’m up 4,200 bucks. Green is good. My daily average here, this is our sixth trading day of the year, and my average is $4,908. I’m up $29,500 on the year. Just about $30,000 on the year, $30,000 on the month. You know what? Green is good. I like looking at my calendar here and seeing that, for the most part, this has been a really, really great year. I haven’t had a green day less than $3,600, so that’s awesome.

If we keep seeing trading like this, this could be another 60, 70, $80,000 month. Things will slow down at some point, but just really have to be so disciplined about not giving into FOMO, taking A-quality trades, and remember that if you miss an opportunity, there’s going to be another one right around the corner. If you feel a little bit of the FOMO, just remember that you’re not alone. I absolutely have it too. Trying to stay calm when you’re seeing a stock like this running is not easy. Sometimes, you just gotta get up and walk away. I might seem calm, but inside, I am really frustrated. I know I missed an opportunity. I left money on the table.

Little bit of disappointment there, but at the same time, I exceeded my expectation that I set for today. I set an expectation of a thousand dollars, and I’m up 4,200 bucks. When you’re always moving that line of what you’re going to be happy with, it makes it really hard for you to be content. It’s definitely a challenge with trading. One of the biggest challenges are the psychological and emotional aspects, but you know what, every day is an opportunity to try to become a little bit of a better trader. Today, I’m glad that I didn’t give into FOMO really at all. I took one good trade on the pullback, which is fine, and then I left it at that.

Anyways, that’s it for me today. I’m going to upload this recap to YouTube later this afternoon. I’ll probably edit the video on the airplane, upload from airport WiFi on my layover, and I will see you guys tomorrow morning, bright and early, logging in from California, unless it’s snowing, so unless, for some reason, something gets delayed or I get stuck somewhere like Minneapolis or something crazy like that. Anyways, probably see you guys tomorrow logging in from California. All right, see you guys in the morning.

If you’re still watching, you must’ve really enjoyed that video, so why not subscribe and get email alerts any time I upload new content? Remember, when you subscribe, you become a member of the Warrior Trading family.