Warrior Trading Blog

The Right Time To Be Aggressive +$16K! | Ross’ Trade Recap


What’s up everyone? The raccoon strikes again, $16,000 of profit today. Another terrific day. Puts me up about $36,000, $37,000 on the month, and today is May 6th. I am 90% to my $40,000 monthly goal. In fact, this is now a month where I have the potential of doubling my goal, $80,000, maybe even $100,000 if this momentum keeps up. Now I was actually up almost $20,000 today, and like I always say, “Today’s a day where… everyday you’re either giving money back, giving back profit, or you’re leaving money on the table.”

Today I gave back a little bit of my profit. I could have kept a little more in my pocket if I wasn’t quite so aggressive, but we had this one stock up about 55%, 60%. I was scaling into it, going for that big win thinking this might be a $25,000, $30,000 type of day, we might get that second, third circuit breaker halt, ABI type of move, and I think it was the right stock to be that aggressive on and since I was already up $20,000 it was worth taking $3,000 of risk for a $6,000 return. Yes I lost and I’m up only $16,000 but it was the right time to be aggressive.

Remember Friday, I only made $160. Friday was not the right time to be aggressive. I didn’t take big size, I didn’t push my luck. I just said, “You know what, I’m not feeling it.” But today the market was hot, I got aggressive, I’m going to walk away with $16,000 in profit. We’re going to break it down today. Remember guys, tonight 7:00 pm eastern I’m hosting a free workshop where I’m going to break down my strategies, including how I found the stock I traded today. How I found it, what led me to really believe it had potential to be a big mover, why I jumped in as quickly as I did, where I took my profit, everything else. Make sure you register, tonight at 7:00 pm eastern.

All right, so as always during the recap questions, comments, put them below. I’ll come back through and answer them this afternoon and then I’ll see you guys first thing tomorrow morning.

All right everyone, so we’re going to break down the trades from today. Today ended up being another great day. $16,267.90 of profit on BLIN. I was actually up about $19,500 and gave back a little bit off the highs. Again, like I always say, “Everyday that we’re trading we’re either leaving money on the table or giving back some profit.” Today I gave back a little bit of profit. I was being pretty aggressive on BLIN after I had a really good start to the day. I started to put the pedal to the metal and see if this would turn into a real home run and it didn’t quite do that, but $16,000 at the same time is a great gain for one morning of trading. This is in my retirement account, which is also nice.

You can see here BLIN, this is the one that we traded. Today’s watch list was a little bit of a dud. The only thing on it that gave me an opportunity was AMTX and I ended up skipping on it. Now if we look at this down on a 10 second chart, you’ll be able to see this quick little pull back that it gave. Now the reason I hesitated on this was because I said to myself, “You know what? Generally you’re not doing well on stocks under $2. I don’t know that it’s really worth it to go for this.” It had this little kind of open around $1.57. It pulled back.

We knew the pre-market high was $1.60 and as it broke the pre-market high right here of $1.60 it squeezed up to a high of $1.70, and so that did give $.10 of profit potential. You know $.10 with 10,000 shares is $1,000 of potential. I was going to take 9,000, so $900 is probably what I would have made on that, but again that would be if I got in right here and sold at the very top. Usually you get in a little higher and sell a little lower, so that might be more like $600. Then of course if it had dropped down here I would have lost about $900 or maybe $1,000. Risking $1,000 to make $600 isn’t really that great of a risk reward ratio, and so I ended up passing on it.

Now the only problem with that is that this is usually how I would get my profit cushion on the morning. Taking that very first trade on a gap and go setup. Since I didn’t have that I was left just sort of sitting watching what else was happening. We had a little bit of a red to green move on ABIO here, not quite… and it still is interesting if it does break over $10.90 and breaks $11, but the volume is very light on it and the price is higher and the spreads are bigger. It just didn’t really give me the right entry opportunity that was low risk so I didn’t take trades on that. I saw some of you guys did trade it and made some money on it, which is great. I’m always happy to see that, but of course I ended up missing it. No trades on that one for me, but that’s the way it goes.

Then we had… let’s see, which one was next? We had PRPO, that one popped up for a second. I didn’t want to trade that one. I wasn’t thinking that the daily chart really looked all that great on it. I felt like it just… wasn’t the first daily candle to make a new high. It didn’t really have what I was looking for. It did pop up again, kind of had this opening range that broke and I saw some of you guys traded it through there, but I just sort of said, “You know what? Just wait, just be patient.” Let’s remember, on Friday I only made $160. I took two trades, one winner, one loser and nothing was really working. I was like, “You know what? I’m not feeling it today. I think I’m just going to throw in the towel.” Of course on Thursday I’d made $7,500 and on Wednesday I’d made $14,000 so I could afford to sit and be patient.

Today I was sitting and being patient, waiting for something to hit our high day momentum scanner. Here was AMTX, AMTX, AMTX, so on this one I just was like, “Well I don’t know, I think I’m going to miss it.” OVID I looked at that, 15 million share float, not a great pre-market chart, had retraced most of the move, just kind of wasn’t sure, I left it alone. Kept watching the scanners and then, all of a sudden, BLIN hits right here at $6.20. The first thing I see… I pull it up and I can see right away it’s a low float stock. In fact it has almost the same float as ABIO, and we remember what happened on ABIO last week. This one gave me $17,000 in total profit. I mean a really nice big move with a float of 154,000 shares according to Trade Ideas. I’m not sure if that’s actually correct.

BLIN coming in with a float of 151,000. I looked at that and I was thinking, “Very low float.” I pull up the chart. First thing I do is I type in the chart here. While it’s loading I go down here and I type in the level two. Boom, boom, I’ve typed in both sides. I look and I see on the daily recent reverse split, and as soon as I saw that the low float recent reverse split up 16% I’m jumping in. Because I knew that it had potential.

I jumped in right away. I pressed shift one three or four times, boom, boom, boom, boom trying to buy 3,000 shares, 3,000 shares, 3,000 shares. I filled… Sorry I’m yawning. I don’t know why I’m so tired. I filled some shares at I think $25, some at $31, and some at $34. It ended up getting halted right here at $34, so it rips up and gets halted very quickly. Again, one of the other things I saw as I pulled up the chart was the fact that it was already up $1 per share, moving fast. This is a setup that we trade all the time, we talk about it in the day trade course, it’s the recent reverse split breakout, and that’s exactly what this was.

Again reminder guys, those of you who aren’t already in the day trade course, tonight 7:00 pm eastern I’m hosting a free workshop. We’re not going to really talk about these types of trades, how I’m able to find these needle in the haystack consistently. Once you have a system it becomes fairly easy. Now you wave a magnet over a haystack and boom, the needle pops right to it. It doesn’t mean you’re going to find the needle every single day in the context of the market. We’ve got 10,000 stocks and we don’t have the moves like this every single day, but three days out of the week, four days out of the week we usually find our way to profit. Today, of course, was another example. I encourage you guys to register for the workshop tonight. I’ll give you guys a copy of How to Day Trade so you can review this and get some of the tips and tricks from a trader who’s been doing it for a long time.

Anyways, BLIN I’m in it here and I’m adding right here. Now it’s halted for 10 minutes. It resumes and it’s already up 10% right there. Coming out of the halt boom, I add again, so now I’m adding at about $7.30, $7.40, and it squeezes up to $7.50 and it’s halted a second time. It resumes up here and taps $8 and I sell all of my position except for 700 shares. So I’m still holding 700 shares and now it’s halted going down. I’m like, “All right, well that’s not ideal but at the same time I think I’ll just hold this and lets see what it does. I’m going to set my stop at $6.25.” I set my stops at $6.25, right around there. It opens and it starts to squeeze up and right here I add about 10,000 shares, 8,000 to 10,000 right here at $7.00. It starts squeezing up, squeezes up here to $7.12. It pulls back, up to $7.32. It pulls back, it drops down for a second. I still hold, I’m holding and holding. Pops up to $7.40, up to $7.50. I’m feeling good about it and right here I added 12,000 shares.

I added 12,000 for the break over… let’s see it was right here, 3,000, 3,000, 3,000, 3,000. Added 12,000 shares right there for the break over, $8. I sold half of my position at that point, so I sold 6,000 shares there at $8.06, sold another quarter $8.04, sold the rest as it came back down. Right into that breakout I got myself up $15,000 on the day. Hot keys, shift one, control X, control Z. Now I’m out of the position, so I started the position, my first entry was right here. I was holding through this entire move until right here, so I was holding for a little less than… well let’s see, when was this? This was 9:40 and I was all out of it by 10:18, so about 40 minutes, 45 minutes I was in the trade.

It starts to curl up right here, right here, and as it comes back up to $8 I got back in. Here I’m back in 79, 87, and 80. We had a seller right at $8 so I was a little bit nervous. I was like, “Oh I don’t know if this is going to break. It looks like it’s going to double top,” so I ended up selling at 99 and then getting back in $8.15, $8.20 for the break over high of day. We ended up getting a move here all the way up to a high of $8.83, and at the top of the move right after this trade here, I was up about $19,400. Then look at this, in two seconds on this one I bought at $70, thinking it was going to do a quick break, and I ended up selling half right here down $.50, and so just like that I lost $1,500 in about two seconds. That was a bad trade. Added back at $50 and sold the rest down here at $31.

Went from up $19,400 to $16,200 getting caught in some of this choppiness right here and here, and stopping out eventually right down here. But I felt comfortable taking the risk in this area because I felt that if it broke over $9 then we might have a shot at seeing $10, and I honestly think that this stock still has potential today. It’s at the VWAP, it has retraced a decent amount, but it’s still showing a lot of volatility, and remember volatility equals opportunity. I’m definitely going to be interested to see what this does through the rest of the day and come back to it tomorrow. It might give us another opportunity for additional trades.

Last week on ABIO my big win was on Wednesday, $15,000, $14,000, $15,000 and then on Thursday I made $7,500 trading the second day continuation. It’s certainly possible we’ll get second day continuation on BLIN. The only thing that this is missing is a clear catalyst. The recent reverse split with the stock already up 15% as it was right here it a technical breakout, which is fine but would really prefer a fundamental catalyst to substantiate that type of move. We just, on this one, don’t end up seeing it or it’s not clear. Up 52% I guess at $8.12, up 57%, 64% so this hit a high of about 65% gain on the day, which is really pretty incredible. Yes, last week DFFN, this one made a pretty big move, it’s opening up a little bit here. I don’t think there was a clear catalyst on this day either, but up it went 100%.

That’s the feeding frenzy in the market, traders start to jump on things that move and today it was BLIN. Thanks to these scanners we were quick to jump on them, so this scanner is my secret weapon. I’ve programed it to find these stocks in real time, so that’s how I find the needle in the haystack. Today we got it, a nice bit win. I’m going to sit up about $36,000 now on the month and today is May 6th, which is awesome, so I’m in really good shape there. My small account from $583 to $1,024,600 of profit right now, so $24,000 over the million dollar mark, which is great. One of the big goals for me has been to cross that million dollar line and never come back to it. That means right now I’d have to lose $24,000 in order to cross back below the million dollar mark. I’ll certainly feel a lot better when I’m up closer to $1… well $1,050,000 and then $1.1 million I’ll feel really good that I’m not going to come back to it.

Right now I’ve still got to build that cushion so it’s almost like having a small account again because I just got to get as much distance between me and the million dollar mark as possible. Yes, this scanner is available for all Warrior Pro students so you guys have it in the classes and you’ll be able to download it. This is the same one that’s currently out there.

All right everyone, so it’s about 11:00 am. I’m going to call it a day for trading this morning, take the profit and run. I’ll be back at it first thing tomorrow morning. Remember guys, 7:00 pm eastern tonight free workshop where I’ll be walking you guys through my strategies. Make sure you register. I’m looking forward to seeing you there, and everyone else I’ll see you first thing tomorrow morning. All right, bye everyone.

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