Warrior Trading Blog

Two Times My Daily Goal! +$4K | Ross’ Trade Recap

Ross_7.9

Hey everyone. All right, so today is my … let’s see, sixth consecutive green day. Green all last week, green yesterday, green again today; up $4,000. CEI, that was the big winner for me. Almost $7,000 in profit on that name, and then of course, second stock I traded in the red on, so net profit, so four grand. Still two times the daily goal, and I’m still feeling really good about the momentum coming back into the market, because CEI was up over 120% this morning, which is pretty impressive.

You can see here, my traveling trading station. I’ve got the main laptop, monitor one, monitor two, backup laptop, … Well, it really is just sort of a backup. Then, I’ve got my traveling trading buddy here, Roberto, as you guys know, who is going to do and ask me anything live on Facebook, YouTube, today at 12:00 p.m.. So if you missed it because you’re watching this recap later this afternoon, we’ll make sure we upload or make it public on YouTube, the YouTube live. So make sure you guys check that out.

All right, we’ll see you guys-

Don’t miss it, by the way.

Don’t miss it. All right, so we’ll see you guys first thing tomorrow morning. Bye, everyone. …

All right everyone, so we’re going to do our midday market recap here, go over the trades from the morning, finishing the day up, $4,002.76. Not a bad day. Two times the daily goal, but sure would have been better without those losses on SLOY. CEI up 112% still right now was the big winner, almost $7,000 of profit on that one.

It was just obviously a big mover, and pretty clean. It’s got 20 million shares of volume right now, but the first trade was right here at pre-market, … not pre-market. Once the bell rang as it broke over this pre-market high here of 82, for the break of three. Squeezed up to a high of 344, pulled back, and this is where things got a little frustrating.

I started the day by losing … was it 1200? Yeah, it was about 1200 on SOLY. I sort of right away was like, all right well, I’m in the red. I’m not at my daily max loss, but starting the day in the red is never a good thing. I better be really careful.

So we got this squeeze here up to 340, 330, a little pull back here, scalped this pull back up to a high of 344. I then got back in right here, thinking we were going to break over the highs, and I gave back … I think almost all of my profit from that trade. I got back in right here. I gave back profit again. I got back in right here, and well, that was the beginning of turning things around. That was a nice trade.

The problem is that I had to give it a couple of tries. Sometimes it’s like that. BPTH was a stock that was like that, I had to try it once, and twice, and three times, and then finally it was the fourth time where we got that big breakout on high volume. On this trade right here with 9,000 shares, I was instantly up almost $3,000; it was because I got in a little early. So really solid there. Hit a high of 75, one minute pull back, added for the move up to four, second one minute pull back, added again, scalping this move here.

Then, this is where things just sort of started to go parabolic, squeezing up and I added into this move. So really the bulk of the profit was between 10 and 10-12, so about 12 minutes of really awesome activity. A drop back down here, a little bit of a bounce. I was watching this break of 40 to get back in. I hesitated. It only popped up a little bit. I kind of was like, you know what? You’re just over the $4,000 mark by $2. Let’s just stay above that mark.

Yesterday I was up $2800, gave back a thousand, finished the day up only $1800. Today, since I already had these two red trades, I didn’t want to let that happen again.

I scalped a lot of shares on CEI, getting in, getting out, getting in, getting out. That’s not always the most efficient way to trade with commissions, but in this case, I had trades here, and here, and here, and here, and here, here, here, here, and then up through this area. I took over 100 trades today total, which is excessive. I don’t usually go that far, but today was a day where it was worth it.

Now on the other hand, on SOLY, I only traded about 10,000 shares in total on it. I managed to lose 2900 bucks. On this one, my first trade was an attempted red to green move. You probably look at this and say, ‘Why are you even bothering with this?’ Well, it was the daily set-up that I was really looking at, with a sort of mark at 18 50 and 18 89. If we broke that level, I knew we had room up to 20. It’s a stock that was really strong yesterday. Sometimes the next day, they pull back a little bit, and then they rip through, and next thing you know, they’re breaking through the previous day’s high.

So that was the set-up. I knew buying below view app was risky, but I did it anyways. First trade was right here. It popped up to a high of seven 13, failed, stopped out as it came back down. On that trade, I lost $1200. I got back in as it squeezed up right here. I missed this entry and bought basically this little pull back right here, and that didn’t work. It came back down. On this one, I was in at 40 with 4500 shares, and stopped out at $17. That was like a $1600 loss, and that put me in the red by 2900 bucks.

At that point on the day, it put me back to break even. I was already up three on CEI, down three on SOLY. I was flat on the day as of 9:50, coming into the 10:00 a.m. mark. So that’s partly why I feel like I wasn’t as aggressive as I could have been. Towards the end, I was trading with 1500 share positions on CEI, reducing my share size, not wanting to risk going back to break even.

I didn’t push it as hard as I could of. Right now, it’s forming an ABCD set up on the five minute chart, meaning that a break over 65 could give us a move back up to 98. It’s definitely a good five minute set-up to keep on watch, but with declining volume, which is typical of a period of consolidation, but at this point, 20 million shares, it’s coming up at 11 a.m.. It’s no longer the time of day that I should be trying to be aggressive.

I’m going to make it my … Let’s see, fourth, fifth, sixth consecutive green day. Four green days last week, Monday, Tuesday, market was closed … Monday, Tuesday, Wednesday, market was closed Thursday, and then Friday. A green day on Monday, and today it went into the red, but came back out finishing green. I’ll be grateful for that.

CEI is squeezing up 120% is a great indicator of momentum coming back in the market. If this thing does break over 65, well, that’s really going to say something about the strength today.

Today I was really focusing on one stock, kind of having some internet issues. A little bit of lagging on my order executions. Took down everything to just reduce the latency, but yeah. The thing is on this, right at this very moment, I don’t … I wouldn’t buy if it squeezed right up right now to 65 because it just came from 40. I’d be buying something that’s really extended.

The place I like is when it pops up like this, and then pulls back a little bit. Then, I’d be … I need to trade to one minute set up. It’s a five minute chart pattern, but I need to be low risk on the one minute. That means I need a little pull back right here, and then an entry could be the break over 450, because look at that: flushes right back down to 433. You don’t want that to happen while you’re holding from a 465 entry. The set-up has to work both on the one minute and the five minute, and if it’s too extended on either one, then that starts to create some risk. So anyways, this five minute candle now has about three and a half minutes left on it. It’s now looking like it might close red, but we’ll see.

That’s it for me. Green day, and we’ll try to do it again tomorrow. Momentum with CEI is definitely back, so just let’s really keep an eye out for the next stock to make that 50, 60, 70, or even 100% move. I’m going to try to be a little bit more aggressive on jumping on it quickly. I’m going to try to keep losses on other stocks a little tighter, so when I’m taking this type of trade, it’s all profit. It’s not digging me out of the hole from something else. Yeah, so no, I’m green on the day. $7,000 on CEI right here, and then a $2,900 loss on SOLY, so $4,000 of net profit. So a good green day, $4,000. All right, I’ll see you guys first thing tomorrow morning.

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