Warrior Trading Blog

Trade The Best, Leave The Rest +$1,900! | Ross’ Trade Recap

rest

What’s up everyone? All right, so here we are, a Thursday morning, and another Green Day training. Up $1,900.00. Two back to back green days, but what’s interesting today is that I traded five stocks, maybe it was six, but I only had one good winner.

 

That one good winner was a $1,900.00 winner. All the others were $200.00 or profit, $200.00 of loss, $40.00 of profit, $100.00 loss. You know, it was nothing significant. That’s kind of what the last week and a half has been. A lot of small trades.

The problem is that when you have one big loser like I did on Tuesday, that’ll wipe out three days of small winners. I need to have that $1,500.00 to, you know, $2,000.00 winner each day to really start to make progress. I did it last week, made about $4,000.00. The week before, made about $8,000.00. Even those weeks weren’t crazy good, it was enough for me to be continually making a little bit of progress.

And then, this week started with no trades on Monday. I lost $1,900.00 on Tuesday. I made back $2,400.00 yesterday, so it was only $500.00 above break even. Now, another $2,000.00. Hopefully, tomorrow finishes strong, but at the same time, in this market, it wouldn’t’ take much to go right back down another, you know, $1,500.00. I got to be really disciplined, trade the best, leave the rest, and stay focused because it is still August. We’ll break down all the trades today in our midday market recap. If you have any questions, any comments, leave them below. I’ll come back through and answer them later. All right, enjoy.

All right everyone, so we’re going to go over trades from this morning. Another green day, which is great. Up $1,965.46, actually, what am I looking at? $1.965.83. I don’t know why wrote 46. You know what? I was looking at that right there, at the 46. Let me just fix that, not that it really matters, but whatever, just to be accurate. Yeah, it ended up being a solid day. Kind of a slow start though, but it finished well. I had a couple of really just one solid trade that made the day.

Now, one of the things that I’ve been dealing with this month is that I’ve had, you know, kind of the whole month it’s like the whole day is trades like these ones. I haven’t had that one winner that kind of, you know, puts me over the edge and gives me, you know, a nice green day. It’s just been a lot of the chop. You know, $200.00, losing $200.00 there, making $300.00, losing $200.00, you know? That’s why I’ve been, as of yesterday, break even on the month, despite it being the 23rd, which is not a good sign, no doubt about it.

I only have, you know, well, one, two, three, four, five, six days left to turn this month green. You know, that’s not ideal, but at the same time, you know, it wouldn’t be the first time I’ve had a red month. Well, I mean, obviously everyone knows that. It wouldn’t even be the first time this year. I was red in February. Last year I had two red months. 2016, I didn’t have a single red month. However, in 2016, I wasn’t as aggressive. I wasn’t pushing it as hard. That’s kind of a thing that I talk about, that skiing analogy.

If you always stay on the green circles, the easy trails, you’re probably not going to fall down, but are you really pushing yourself? Are you really growing as a skier? Are you really improving your skill? You know, if you’re having a good time and you don’t want to, you know, you’re happy with where you’re at, then okay, that’s fine. You know, if you’re at an age where you’re worried about breaking bones and things like that, you know, I’m not going to push my mom to go down a double black diamond, right?

You know, for me, I like to push myself a little bit more. I kind of felt in 2016 that I was being conservative and not pushing it as hard. It was kind of, you know, I don’t know, I just felt like I really needed to be consistent. I think I had a month … I had this like, consistency challenge. I had a 55-day green streak. I didn’t have a red day for I think, it was 55 days or 54 days. You know, so that kind of put this mentality of like, stay green, even if it means finishing up only like $200.00. You know, it was just like, stay green.

That was when I started uploading all my broker statements to the website. You know, I just felt like a little bit more pressure that, you know, I had the spotlight on me. I just had to stay green, had to be really consistent, couldn’t afford to take the risk, didn’t want to have a red month. I was worried about how that would reflect on me and all that stuff. You know, now in 2017 doing the small count challenge, starting over with $583.00, building it up now to $700,000.00.

In 2017, I definitely was pushing it more. I was being much aggressive, taking bigger size, having some huge green days, and having some bigger red days, bigger red days than I had in 16. But, realizing that was okay. It was okay to fall down and I would just get right back up. And so, I’ve kind of continued that in 2018, really pushing and being more aggressive. I’ve increased by starter share size from 2,500 shares to 3,000 shares. You know, I pressed that three times. I used to be up to 7,500 shares. I press it three times now and I’ve got 9,000.

You know, four times, I’ve got 12,000 instead of 10,000. You know, I’m taking bigger size and the winners are bigger, but you know, losers are bigger as well. Anyways, today, when I got started, my very first trade was on IPAS. Now, today, like any other day starts with our job of finding volatility. As day traders, we’re hunters of volatility and we’re managers of risk. Every single day we’re getting out there looking for opportunity.

We start by looking at this gap scanner, which is a scan of all the stocks in the US market that are going to open higher than they closed yesterday. That’s because they’re already trading on some light volume during the pre-market trading session. Most retail trades don’t trade pre-market. We wait for the bell to ring, it’s easier to trade, markets are more liquid, stop orders work, and all that stuff. When a stock is gapping up 813% pre-market, it’s something that you kind of figure, I got to take a look at this and see what’s going on.

IPAS was a reverse split setup. This was a stock that did a reverse split yesterday, ten to one. Actually, it was even gaping down slightly, but the scanner looks at it as this was, you know, whatever, $.22 stock yesterday and now it’s $2.00 today, so it’s got to be gaping up 800%. It’s a little bit of a false gap, but it catches our attention. We look at it. We realize it’s a reverse split. On this one, I saw it suddenly start to spike up from $2.10 to $2.85. I got in with 400 shares at $2.85.

I tried to jump in with like the $6,000.00, but I only filled $400.00. I fill $400.00. It opens at the same price. It taps $3.00. Kind of a seller right there, it hesitates. And so, as it resumed, I ended up selling it at $96.00, which was a pretty good fill and then it dropped down to $2.16, which was really an ugly drop. I made $40.00 on it. Then it goes sideways here for a little while. I get back in over the half dollar of $2.50, right here. It pops up to a high of $2.60 and then drops down. I lost $80.00 on that. That puts me down $40.00 on that trade total, which is not a big deal. Whatever, that one didn’t work so well.

The next one was LTRX. This one you can see, not on the watch list, not on the scanners, however, once the bell rings, then we start watching this window here. This is showing us stocks that are squeezing up right now. A lot of times, these stocks are on the scanners, LEJU, and that they’re moving up because they were on the scanners, traders are watching them. Sometimes, you get a surprise move, a stock hits the scanners, like this one, LTRX. It wasn’t on your gap scan. It wasn’t on your watch list. It just all of a sudden is taking off.

I pull that up. First thing I do is I look at the chart and I ask myself, “What’s the daily chart looks like? What’s the five-minute look like?” I see it spiking up and I’m like, okay, this is interesting. Clearly, it just made a move from like $4.45 up to whatever this is, $4.78. I ended up jumping in it, let’s see, at $4.75, $4.77. No, sorry. $4.66 with 3,000 shares. I take a small trade. I sell half up $.08. You know, kind of sell the rest of it for a small profit, make like $150.00.

I then get back in at $.77 and $.79 and I’m selling it at $.83 and $.85. Again, this is like a small profit. I get back in, that was PAS, IPAS. Well, hold on. Where was the last trade on LTRX? I guess the last one was getting it at $.79 and selling at $.83, $.83, $.74, $.75, and $.80. That last trade was basically break even. My entries here on this were for the break here and then for the break here. Those were the two setups. Pull back and pull back, squeeze up to a high of $.99 and despite that move, I only made $200.00.

I really didn’t do very well on it. It was kind of choppy. The breakouts had these topping candles and then came back down, topping candle, came back down. It wasn’t really sustaining those levels, which you know, was a bummer, but is sometimes the case. All right. That was LTRX. And then, I’m sitting tight. I’m only up $160.00 on the day and I’m thinking, you know, the writing is on the wall. The day is dead, it’s done. I’m probably just going to have to shut it down and whatever.

I see RTTR hit the scanners. I look at it, it doesn’t look that interesting, pops up, drops right back down, so no trades. I see OBLN hit the scanner. It hits once, twice, three times, four times, and I’m like okay, five times. I pull up the chart. I see that there’s news on it. There’s a headline this morning. So I’m like, okay, that’s good, there’s a catalyst. I look at the chart and it’s got room up to the $200.00 moving average, so I’m like okay, that’s a good chart. Right? Doing my checklist.

Is this a stock that’s worth watching? Obviously, the float is 15-million shares. That shows right here on the scanner. It’s up 38% on the day. it’s moving quickly. You know, the volume is coming into it in the last five minutes. I see that and I’m like okay, this looks like something I’d like to jump into. I go ahead and jump in at $.40 and $.40, $.40 and $.40. I get these weird kind of partial fills. I was trying to use a smart route order and it wasn’t really working. I’ve got to look into that.

And then, I just added with the regular order at $.50. I was considering adding at $.58. I had my order ready to go and then is as like oh, I don’t know. I’m in this little high. It’s kind of like 10:30. Maybe I should just start reducing my risk. I then at it at $.59. I took a little bit of profit, 200 shares, and then changed my mind and said, “You know what? I’m adding on this. I’m going to go for this move higher.” It pops up to $.86 and I sell half. The high a day was $.86. That’s awesome.

I mean, I don’t usually top tick these, but on this one, I literally sold half of my position at $.86 at a high a day. That was nice. You know, the way I was able to do that is just by watching the level two and using my hockey. It pops us, I throw my order out, and I get filled. That was cool. It then starts to drop back down and I see it as it’s coming back down. I sell my last share. I ended up with 9 shares. I sold them at $.41. In total, that was $1,900.00. That was a good trade and it came kind of out of nowhere. Off the scans, but it had a good chart. You know, everything looked good about it, so it was worth a stab.

The entry there was anticipating a break of the half dollar, with a target of $.55, $.60, and it ended up just working really nicely. Solid trade there. That was the one that made the day. I lost $280.00 on SLS. This one, it popped up, I ended up getting it at $.16 on this little micro pullback. It hits $.18 and then I stopped out at $.12, so I only lost $.04 per share on 6,000 shares. I’m in at $.16 and $.17 and back out at $.12. Whatever. It was worth a stab.

Oh, I also had this one. It was worth a stab the way it was starting to squeeze up, but it didn’t. I thought it would keep going, but it didn’t. AWX was the last one. Someone calls it out and says, “Hey, take a peek.” I looked at it. Bought this little one-minute micro pullback, thinking it would go higher and only made $100.00 on it. It really didn’t hold up and then came back down. It was kind of a riskier trade, but on the daily chart, again, this one was starting to open up and has room all the way back up to $6.79, so it didn’t happen today, but you know, this is a chart that we want to keep an eye on.

The problem with this one, in contrast to OBLN, is no news. You know, it kind of starts popping up, but not a strong catalyst for the move and that’s a problem. Anyways, that’s the breakdown of making $1,965.83 in one hour of day trading. So, a decent morning. We’ll be back at it first thing tomorrow morning. Hopefully, we’ll finish off the week with another green day. I’ve now made about $4,500.00 in the last two days, so that’s awesome. I had no trades on Monday and then I lost $2,000.00 on Tuesday. It puts me up, you know, $3,500.00 on the day, or on the week, or right around $3,000.00 on the week, or maybe around $2,000.00 on the week.

It’s not the most impressive week right now. Last week, I made $4,200.00. The week before, I made $8,000.00. This week, I’m up only about $2,000.00. I’m still grinding. It’s a grind. That’s okay. You know, making a little bit of progress is good, and staying in the market, keeping fresh is important and then, when we do see things start to open up, I can always, you know, I can always start to increase share sizes and be more aggressive.

Yuri, so in the example of 6,000 shares, I put the … press the button for the hotkey twice. Two orders of 3,000 shares. I pay $2.00 per trade with light speed. So, $2.00 per trade, yep, it costs me $2.00 for each one of those, so $4.00 total. I really don’t mind that. Alex, all the trades are right here this window. If you re-watch this video on YouTube, as I’m going through and saying, “Okay, this is where I got in this. This is where I got in that.” You can look at the timestamps here and see where I got in.

All right. Anyway, that’s it for me. I’ll be back at it first thing tomorrow. Students, we’ve got class at noontime. All right, so we’re going to keep going on chapter eight, Reversal Trading and Short Selling. We had a great class yesterday. We’ve been doing about three, three and a half to four hours a day for the last, I think 12 days. We’re up to about 36 hours of coursework and we’re only on chapter eight. We’ve got all the way to chapter 15. You guys are troopers for going through the class this quickly with me, but it will be really great for all the students who get to watch it when we upload it into our learning portal.

They can go through it one chapter at a time, re-watch chapters, and you know, all that stuff. Anyways, class in about an hour, so I’ll see you guys there. All right, bye everybody. If you’re still watching, you must have really enjoyed that video, so why not subscribe and get email alerts anytime I upload new content. Remember, when you subscribe, you become a member of The Warrior Trading family.