Warrior Trading Blog

Up $2.6K Disciplined Trading! | Ross’ Trade Recap

What’s up everyone? All right, so here we are, Monday morning up $2600, a green day, that’s exactly what I wanted. And you know what? As of right now I have no idea where I’m at on the month, and it’s a pretty cool feeling. You guys probably know, those of you have been watching for a while, I’m usually pulling out my calendar and writing down where I’m at on the day and know to the penny where I’m at on the month, where I’m at relative to the $583 to $1 million challenge.

And right now I’m trading for trading. I’m not thinking. I mean I’m trying as much as I can not to think about where I’m at on the month, where I’m at on the week. I know relatively that I’m green on the month, probably somewhere around $1700 but I don’t know to the penny. I’m not thinking about it too much. I’m just really focusing on being a good trader and letting each day stand on its own as being a day where I follow the rules. I was disciplined, I didn’t over trade, I didn’t take higher risk trades. I traded the best, and I left everything else to just sit on the side. And today I did it. I trade two stocks, green on both of them, which is terrific. So 100% accuracy today as far as the stocks I traded is concerned and live to trade another day.

So it’s one of these things with trading that it can sometimes feel so stressful but it’s totally created by myself. I put all this pressure on myself to hit these big monthly goals or have these big challenges and all this stuff, and you don’t have to do that. You can just come in each day, trade, try to make some money and then go enjoy the rest of your day. Right now it’s 11:00 AM and I’m done, and I’m up $2600. I could just go and enjoy the entire rest of the day. Now unfortunately it’s raining outside, and I’ve got a bunch of work to do but in theory I’ve got the rest of the day in front of me and that’s a pretty cool feeling. So anyway, kind of couple of thoughts that are going through my mind here right now in April as I’m just trying to have a good month where I follow the rules, and I don’t make big mistakes.

So anyways, enjoy the recap today. A little bit of a shorter one. As always, if you have questions or comments, leave them below. And remember, tonight, 7:00 PM Eastern, I’m hosting a free workshop. I’ll be giving you guys all a free copy of my best selling book title How To Day Trade. I though I had a copy around here somewhere but must have brought … Oh, here it is. There we go, How To Day Trade. So you guys will get a copy of this book, everyone who registers for the webinar. It’s going to be a lot of fun. Those of you guys who have had questions that you haven’t gotten full answers to, join the webinar, I’m going to have Q&A and everything else so get those questions answered. All right, see you guys tonight at 7:00 PM Eastern. Everyone else, first thing tomorrow morning, 9:15, live streaming pre-market analysis.

All right, there we go, that’s how I’m going to finish the morning, up $2621, which is a pretty good morning. So another day hitting the daily goal, which is terrific. We’re in a market, I would say the last three days, where momentum has been pretty slow. We haven’t seen nearly as much staying power as I was hoping for. BMRA, this is one that was called out in the room, this morning made $350 on it. Made the squeeze from 380 all the way up to 343 so nice 60 cent squeeze but it wasn’t able to hold that level, ended up coming back down [inaudible 00:03:35] consolidating. It curled back up a little bit right here but just not enough for me to get any action. VTL, super active today but below the $1 price range so that’s not one that I like to go for, I left that one alone so nothing on that.

And then, [SRAX 00:03:56] ended up giving a kind of surprise move, I guess. We had this five minute setup that was already forming right here. And then right at 10:00 AM, news came out, there’s a headline that came up on the news feed right here at 10:00 AM. So it’s kind of like a perfectly timed headline, it’s not totally uncommon to see that type of thing. Just like headline just like, right at the right spot at the right time and 11 million plus growth surge in global registered users on Android, iOS, et cetera. So anyways, jumped in at 450, got a partial fill of 2000 shares. Squeezed up to 484, ends up hitting a high of 528. And from that starter with 2000 shares, I got myself up to 6000 shares and ended up finishing up $2264.93 on SRAX. And that was the one, that was the one good opportunity for me today.

ZYNE, this one gave a couple opportunities here on this pullback, but I didn’t trade it. Being a little higher price, a stock I typically haven’t done as well on, it’s all tied into marijuana sector, so those ones can kind of be a little irrational right now. But yeah, going back to SRAX, that was the big one today. So if we go back here and look at this one minute chart, it’s kind of interesting. I’ll actually go down to a 10 second chart. This had five minutes of strong momentum and then it was gone.

So if we look at the 10 second chart on this … Go back here. So I jumped in right here on this candle as it broke the half dollar of 450 and squeezed up to a high of 470. It then does this little consolidation, as you can see here, under 470, a regular 470. It breaks that level and I added back at 68 for the break of that level, and it squeezed up to a high of $5. It then goes sideways and I added for the break of five and then that’s where we got the move up to a high of 528. So 528 was the high on this one and overall the trade was not bad. I mean it wasn’t the easiest one I’ve ever had but a little [inaudible 00:06:36], it ended up working.

So the way I traded this was, I jumped in a 450. I sold half my position at 468, boasted a little bit of profit. And of course, at that point I was up only$ 350 on the day. So I was like, “Hey, if I can even hit a $500 green day, I’ll be happy with that.” 2000 shares from 450 to 470 is $400 so I’m going to take half of it off the table so $200 there and then add it back right here for the break of 70. It breaks 70, I’m selling half at 78. On this little pullback it ends up opening up, going up to five, that’s great, that’s what I wanted to see.

Took a little profit, big seller at five. It dips back down to 478, surges back up, breaks through five. I add for the break of five, we get a move here up to 520, pulls back, breaks 520, goes to 528. That was the high and then it gave it all back and that’s kind of the disappointing thing. And that’s when I was like, “You know what? I’m done for the day.” This doesn’t bode well for momentum today when you have a stock as nice as this that with a headline and everything else, that just totally fails.

So disappointing there that we didn’t get better follow through. At this point, this ones definitely out of play. BMRA has not yet made new highs although, of course, the longer it consolidates here, I suppose the better it looks for a move back up. But generally just not into this one so leaving it alone. Let’s see, let me just … There we go. And yeah, that’s about it for me today. So nice little rebound here, solid green day. Anything above 2000, $2000 is my daily goal. So hitting the daily goal here in the first hour of the day and now I can spend the rest of the day, in theory, doing whatever I want. I mean that’s kind of the dream of being a trader, you trade for an hour a day, spend the rest of the day doing your thing.

The [futures 00:08:45] room is open. Those of you guys that want to check out Steve, you’re welcome to jump into the futures room, he’s up and running right now. He’s trading the evenings as well so he’ll be back between 9:00 and 11:00 this evening trading in the futures room. So those of you guys that want to get a piece of that action, you can switch over there. I’m not really sure what happened in the large cap room but for small caps today, we started with having a scanner with nothing on it. Scanner was totally dead and we kind of had to work with just the high day momentum scanner. But we worked with it, got nice trades on SRAK, small trade on BMRA and found the daily goal. So can’t complain about that at all.

And again, this evening, 7:00 PM Eastern, I’m going to be hosing a free workshop which is going to be a lot of fun. So those of you guys who’ve just been kind of at the very beginning of your learning curve, very beginning of the journey wanting to learn more about how to capture this profit, how to be in an active trader, would love for you guys to register and show up. So 7:00 PM Eastern tonight and between now and then I’m going to get a little bit of work done. I’m going to have a little bit of a mentor session with Ted, try to keep my head in the game here as I’m working on this big $583 to million dollar challenge and see if I can stay focused here through the month of April. So really trying to stay on top of that. I’m in a place where I didn’t expect this last 5% would be the hardest part of the whole challenge but that’s exactly what it’s been .

So just trying to take it one day at a time and today was another green day. So try to just feel good about that. All right, so that’s it for me. I’ll see you guys first thing tomorrow morning. And those of you guys who registered for the webinar, I will see you tonight at 7:00 PM Eastern. All right, see you guys later.

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