+$1k Going Long and Short! | Ross’ Trade Recap
What’s up, everyone? All right, so mission accomplished. Finishing the week with one more green day. This week, it was pretty good, overall. Monday, Tuesday, great. Oh no, sorry. Tuesday, Wednesday was great. Monday, for labor day, the market was closed. Thursday, red day. And I was disappointed because I got a little aggressive. I’d been a little complacent, little sloppy because I’ve been on such a great green streak. I’ve been jumping things right off the scanner and well, that bit me yesterday. But today I set the goal, bounce back just with a green day. I was not trying to make back every penny I lost yesterday. That’s not what it’s about. It’s about just clearing the slate, and putting that day behind me, and turning a new leaf. So today I took two trades. I have two winners and I’m locking up $1,000 of profit, which is great. So I am totally happy with that. Be back at it first thing on Monday morning. And guess what? In the description, you guys will see a link to register for my webinar this coming Monday at 7:00 PM Eastern. So those of you guys who are still trapped in the nine to five grind who want to learn a little bit about what it means to be a day trader, how I find the stocks that I trade every single day like NTGN today, how I find low risk entry points, how I manage my risk, and where I try to start taking profit once I’ve gotten in a trade and I’m in the green. All right, we’re going to be breaking all of that down Monday at 7:00 PM, so you guys better register, and everyone who registers will get a free copy of my bestselling book, How to Day Trade. All right, so hope to see you guys 7:00 PM Monday. Everyone else, I’ll see you first thing Monday morning, live streaming 9:15 for the watch list. Hopefully we’ve got some great stocks on the scanners. All right everyone, so we’re going to do our midday market recap. Go over the trades from today. I took two trades on NTGN. Two winners, which is great. One long and one short. My first trade today was to the short side and I made about $600 which was surprising. So the majority of my profit today was from going short, which is very unusual. Typically I trade to the long side, so this is a little bit different, but NTGN was an interesting stock. This is the area where I was looking at being short. Now this was on the Gap Scanner this morning, but I wasn’t really that into it with a 17 million share float, not being a history of big, big moves. I just thought it would be a little bit of a grinder. I just didn’t expect to see really anything that exciting out of it. And I think that it did exceed my expectations in the fact that it broke the pre-market high of 370 and it did squeeze up to a high of 425, so as it squeezed up here first to 384 and then 390 and then 4, I was looking at it as a possible short, because I felt like it was grinding. I didn’t really feel like it looked like something to me that would take off and really, really go crazy, especially with the float being what it was. So I was looking at a possible short right here and right here. But what I wanted to see was a false breakout. So I wanted to see it break over 4 and then come right back down. And I was going to short at 397, and maybe I would get filled at 399, but my order was a limit order to short at 397, so I typed it in here, 3,000 shares, 397 all right. Hands on the sell button to short. So it comes up here at taps 99, but I didn’t want to short it if it was going to break through, because of course this is what can happen when they break through. I wanted to let it break and then coming back down, short it. That would make me feel much more comfortable. And it didn’t break through here and then it didn’t break through here, so we have a double top. So I was like, all right, well, but this would’ve been a winner and this would’ve been a winner to. It then comes back up, and now again, I’m still thinking short bias. It rips through, hits a high of 22, does a one minute pullback, which I didn’t trust. I didn’t think it would hold this level, especially with this topping tail. It hits a high of 25, it then rejects and drops down. So as it’s right in this area here, I’m looking at this and I’m thinking, all right, this is the high a day. This is the low, the pullback. I’m going to short it right here for the breakdown below this level. At the time, I thought it was very unusual that… And we were right here, that we had this big move on flat volume. This felt like a divergence to me, and it is, but it felt also just like an indicator that even though it was creeping up, it wasn’t on increasing volume. It’s just flat volume. And so I said, all right, I’m going to go ahead and take this one to the short side. So I go short, and I jumped in 12,000 shares short. Now on this one you can see right here I had easy to borrow, I didn’t have to pay anything for the borrow, I was just able to go short just with the click of the button, which is great. So I shorted at 10, after the break of 7, and then short again I guess at 8. It drops down to 99. I cover cover, and then I cover two more times at 6 and 8. So, in a period of two seconds got a fairly big range of fills. But I covered on that drop right there. Now I shorted it and then I had to hold for 45 seconds, whatever. For a second there it popped up to 417, and I was like, all right, well, my stop is up here. And so because I went into the red by like 1,200 bucks, as soon as it came back down, I was covering. Because my process generally as a breakout trader is that, if I’m going to buy a breakout, like let’s say… and let me just use arrow. Let’s change that setting here real quick. Edit. Let’s see. Let’s make that white, like that. There we go. And we’re going to go ahead and save, set as default. All right, so if I had got in right here, for the break over 4, that’s a breakout trade and it was pretty much an instant winner, right? It instantly ripped from 4 up to 420. That’s a breakout trade, instant resolution. That’s what I like to have. So if I get into a trade like this where I short it at 410 and then it pops up to 417, it tells me that my timing was a little bit off. So I timed it on my entry right around there, but it took another minute or so before it dropped. So because I went red on the trade, I change my focus from trying to be a potential big winner to simply trying to salvage the trade, get out break even, or if it does actually do what I thought it would do, I’m going to take profit pretty quickly. Now the result is that I’m not going to have as good of a profit/loss ratio on this trade because I ended up risking like 1,500 to make only 600. However, if I had held and said, well, I’m not going to take profit until I’m up 3,000 for that true two to one profit/loss ratio, well, I would’ve ended up losing on the trade. So instead I take the smaller profit, recognize that it wasn’t the best trade ever, and then I’m willing to get back in. So then I switch and I go long. And this was based on the five minute chart. For the first five minute candle to make a new high. So arrow here. Oh, come on. I thought we set this as default. Let’s see. Did you do too? I don’t know. Whatever. So yeah. So I got back in here for the first candle to make a new high. That was 16, 17. It breaks, it hits a high of 23. I was looking for it to break over high a day. It didn’t. And so I got out and made $400 on the long side there. So really nothing super exciting. $1,000 halfway to the daily goal and I’m happy with that. But I would say that it definitely wasn’t the easiest day, today was a little bit choppy. And so I’ll just be content to make a little money, finish the week on a green note, and as always live to trade another day. Reminder, this coming Monday at 7:00 PM Eastern, I’m going to host a free workshop. So for those of you guys watching on Facebook and YouTube who are still in the nine to five grind, who want to hang out on Monday night and learn a little bit about what I do here every day, which is trade the market for about an hour. I’d love for you guys to register. So those of you in the chat room, I will drop the link for you, those of you on Facebook and YouTube, I’ll put the link here in the description so you can check it out, and hopefully I’ll see you guys registering. I also encourage you to keep an eye on notifications for Facebook and YouTube live over the weekend because I will jump on from time to time and do some impromptu Q&A, and you just be available. So I will see you guys over the weekend, and I will definitely see you all back here on Monday morning. Hopefully we have some good stocks on the Gap Scanner, can make a little bit of money. Right now, let’s see, green on every day of the month except for yesterday. Yesterday was a red day, but that’s okay. Green is good and I’m green on the week, which is great. So we’re off to a pretty good start here in September, and I’m looking to continue that through next week. All right, so that’s the game plan. I hope you guys have a great weekend, study up. Those of you guys who are already in the classes, market is just going to keep picking up here as we come towards the end of the year. October, November, December. That’s when things really heat up. Those are the months where I average about… Well, in November, December $70,000 a month. So I’m going to be trying to really step up, and maybe this’ll be a year where I can be averaging 80 or 90 or maybe even a hundred thousand for those two months. The best month of my career right now is $117,000 in one month, and I know I can do better, because on that month I was up over 125 before my last day being a red day, so I can do better. Let’s see if this is going to be the year. If you’re still watching, you must’ve 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. The post +$1k Going Long and Short! | Ross’ Trade Recap appeared first on Warrior Trading.
9 Sep 2019
Nothing Went Right Today -$5k | Ross’ Trade Recap
What’s up everyone? All right, well today’s one of those days where it felt like nothing went the right way from the very beginning. I drove halfway to work only to get a call that, hey, internet’s out at work. So I had to double back, head home and then set up at home on my old laptop, which I don’t use for trading. I’ve got this nice new one that I’ve been using for trading. It’s got my hot keys, all my layout on it. So jumped on the old one. I’ve used it for trading before. It has this software installed, but it’s not what I’m used to at this point. Only had one external monitor and these are the types of days that it’s so important to have that presence of mind that you’re not in the right space. You’ve had a couple bumps in the road before the bell rings. You got to step back and take it easy. The bell rings, I take a first trade, down 1,000. Second trade, up 1,200. So now I’m up 200 on the day. Third trade puts me up 1,500 on the day. Fourth trade, down five grand. Just jumped into something really quickly without doing my full due diligence checklist and boom, biggest loss of the month. So I’m going to finish the day down $5,000. I tried to make back a little bit when I was down 3,500 and I just went further into the red. So that’s when I finally said, “That’s it. Max loss is five grand. I’m down $5,100. I’m throwing in the towel. I will live to trade another day.” I don’t want to give back any more today when the market is clearly not … It’s just not on my side. I’m just not feeling it. So I’ll be back at it tomorrow. Try to finish off the week Friday with a green day, even if it’s only 500 bucks. Green is good. Then next week, recharged, refreshed, Monday morning. Hope for some good follow through. All right, so that’s it for me. Enjoy the recap. As always, questions, comments, leave them below. All right everyone. So we’re going to go over the trades from today. Today is the first red day after a really nice hot streak. You can see here. It’s a good sized red day, $5,000 max loss. So my max loss on my account right now is $5,000. So because I’m below 5,000, if I wanted to take a trade on CTRM for instance, I could put an order down here at this level and I’m pressing the buy button and it’s just going to keep getting rejected. It’s not going to let me take the trade. The only trades I can take are closing orders to close positions. That’s an important thing. It’s important to have a line in the sand somewhere, wherever it is. But BBSA, this one has been phenomenally frustrating today. You can see I’m red on it, false breakout after false breakout, just very difficult. If it ends up ripping here, I’m going to be feeling frustration and FOMO on it. CTRM, also a frustrating one, some serious false breakouts. Look at this stuff. Then OPGN, just really disappointing. So let’s start at the top here with the watch list for this morning. I was actually up … Well, I started the day with a red trade. I was down 1,000 and then I made that back and was up about 1,500 and then I had a kind of impulsive trade on OPGN and I lost five grand on it. That put me down 3,500. Then I tried to dig myself out of the hole and lost another 1,500 and now I’m throwing in the towel before it gets worse. So CTRM was our leading gapper this morning. This was up 35% pre-market. Unfortunately, I also kind of started the day just with everything not quite lining up. Internet at the office was down. I drove halfway to the office, then turned around because I got a message that the internet was offline. So came back up to the house. I didn’t have my traveling trading station with me. So I’m trading on one of my older computers today, which is not ideal. I only have one external monitor. My internet even here is fiber but feels like it is going slow today and I’m not sure why. My fiber usually is well over 100 megabits up and down, but right now is only at 15 which is weird. I don’t know what’s going on. So there were some storms that went through overnight. I don’t know. I might have to reset things. But by the time I was realizing all that, it was like 9:28. It was getting really close to the bell. So my first, the first trade on CTRM, which would have been a breakout over 4.40, I missed because my internet was all lagged and I didn’t … I couldn’t take the trade because by the time my quotes caught up, it had already happened. But I did buy the first pullback right here. So on this first pullback, I made about $1,500 on CTRM. Then I added on this pullback right here and made another 1,000 bucks. So I was up about $2,500 on CTRM and I’ve given back 2,000 of that profit, unfortunately. So those are my … That was my first trade on CTRM. But I did take a trade on EDSA in the first minute. In the first minute, I jumped in it as it was surging up for the break of 5. Now 5.09 was the pivot we were looking at pre-market because that was the high of this level right here at 8.55. So I jumped in anticipating that breakout and it flushed right down. This thing dropped all the way to 4.31. So I lost 1,000 bucks on it, actually was closer to 1,200. As it curled up here, I got back in and then I added. I quickly sold and I ended up making back $300 or $700 but I made back and then I gave back because then it dropped here from a high of 5.24 back down to 4.63 and then it rips back up to 5.10 and now I’m just getting frustrated looking at it, faking us out. Now here it’s back to 5, a high of 5.13. So this one was tricky, not a predictable break of the pre-market pivot that I was expecting. Got stopped out, lost 1,000, made a little bit back. But at this point, before the OPGN trade, but after CTRM and EDSA, I was up about maybe $1,700. So hey, $1,700 is certainly not bad, especially compared to where I’m sitting at this very moment. But at the same time I think I was … I’ve been having great green days, $65,000 in the last 12 days or so. So I was trying to be a little more aggressive and that’s when OPGN hits the scanner right here. I looked at, I pulled it up, pulled up the chart. As I’m pulling up the chart, I’m typing in the level two, I’m looking at the chart and I press, I go ahead and press shift 1. It’s moving quickly. It’s a bounce off of yesterday’s lows. The last time we had a good bounce off the lows, it actually made a pretty nice move. I can’t remember which stock it was now. It was like a week ago. So I went ahead and pressed shift 1 and jumped in. Next thing I know I’m in this thing with 10,000 shares and then I look at the spread. Now, it’s usually not a good idea to look at the spread after you take the trade. This is a good example of getting a little complacent. When you’ve had a really nice hot streak, sometimes you can get a little sloppy because everything you’re trading is kind of working and you get spoiled and you’d fall into some bad habits, you get a little sloppy. So I jump in and then I look at the spread and I’m already down $2,500 between the spread. It’s 25 cents spread and I’ve got 10,000 shares and then the spread opens up to a 40-cent spread and I’m down four grand. I hit the bid, I get another 10 cents of slippage. Just like that, I’m down $4,947, boom, from up 1,500 to down $3,500. That is disappointing. That is the last thing that I wanted to have happen. So I think at this point, or at that point, I was just sort of like, “All right, well, that was nasty. That was very disappointing. But let’s just shake it off. Yeah, I’m not below my max loss. So I’ll just give this a chance and we’ll see what happens.” So then I’m watching CTRM and it’s consolidating through this area here. It’s now broken down and I see it curling up right here and I take this trade. I’m thinking, “All right, it looks like it’s going to break over 4.40.” That’s a pivot and then it might make a move up to 4.50. So I jump in here. That ends up being a false breakout, fails. So then I lose like $1,500 on that trade. I go from up 2,500 or whatever. Actually, maybe it wasn’t … I mean, I think I lost 1,000 on that trade. So then I’m down 4,400 on the day or 4,300. Then I took one more trade right through here. It was on this candle right here. I bought this candle thinking that at this time we were still holding the 9. We were below the VWAP and sometimes these sort of pinch at this spot. We get the apex point and we break up. In this case we broke down, right? They’re going to break one way or the other, but this case it broke down. So there I lost another $700 or whatever it is. So that is kind of disappointing, gave back some profit. Here’s the typical EDSA today. Hits a high, it makes a new high by one penny and then it drops 35, 40 cents. So this is the condition of the market today. Now, just like almost anything else in life, as a small business owner, if you’re a fisherman, these are the conditions of the ocean today. Today I’m just not catching fish. I’m wasting a lot of bait. I’m down 5,000 on fuel, on bait, on paying my guys to be out here all day long when there’s no fish, when there’s nothing happening. Sometimes that’s part of the deal. Being a small business owner and being a day trader, you have to really consider it like this is your business. It helps you take it more seriously. But it also helps me compartmentalize the bad days because there are going to be days like today where doing all of pretty much the right things doesn’t work. Or maybe I get a little sloppy on a trade like OPGN because I’ve been on a really good hot streak and I give back a little bit of profit, unnecessary loss. Now I have sort of this moment where I have to make a decisions tomorrow about how I’m going to trade. Tomorrow, am I going to revenge trade or am I going to trade further? You know what? I could switch over to my IRA account right now and I … Well, you know what, I don’t know if I could keep trading. I think this max loss goes across both accounts. Let’s just double check just for the heck of it. No, it doesn’t. So I could go ahead and trade and lose another five grand in my IRA account. Okay, but I’m not going to do that, right? That would not be a good decision. I’m to read the writing on the wall. I’m going to take my stocks here and rather than risk more money and take this $185,000 I’ve been building over the last year, basically, well, nine months. I’m just going to say, “Today I’m not feeling it. I’m going to step back. I’m going to throw in the towel and I will live to trade another day.” Now, tomorrow I don’t want to revenge trade. I just want to try to finish the week with a green trade. I’m up. I went from being up about 9,000 on the month now to up only about 3,500, four grand. So this is a decent setback. It’s not a great time in the month for a setback. I was talking just yesterday about how now I’m in the driver’s seat. I can afford to take a little risk. Well, I took a little risk a little too soon and now I’m not really in the driver’s seat the same way I was yesterday. Now, tomorrow if I see something that’s going to require me to take a little risk, I’m going to have to think twice about it because I cannot have another $5,000 red day. I do not want to go red on the month. I want this first week of the month to be a week of profit. But today I have given back most of what I made yesterday, the 6,600. I’m still net positive, but I have given back most of it. So I’ve got to be really careful as I finish up the week and going into next week. If today is a sign of a little bit of a change or an ebb in the momentum, then I’ve got to respond to that by slowing down. I can’t just keep going like super headstrong into a difficult period in the market because if I do that, I’m just going to lose money like today, back to back to back to back. I may have to be content with 500 or $1,000 days and I can do that. That’s fine. But I need to accept that that’s where I’m at. That may not be the case. Hey, tomorrow we may end up seeing a stock squeeze up 400% and I’ll trade it and make 10 grand and it’s not a revenge trade. It’s just genuinely strong stock. But if we see things start to shift or start to slow down, I’ve got to respond to that really quickly. So for those of you guys who have been hanging with us here for the last 10, 12 trading days and watching this hot streak, you’ve seen how quickly in a matter of 10 days, how quickly you can build an account. Full Recap On Youtube! The post Nothing Went Right Today -$5k | Ross’ Trade Recap appeared first on Warrior Trading.
6 Sep 2019
Technical Difficulties! +$47 on $AEO | Mike’s Trade Recap
Hey, what’s up guys? Back in the markets today after a holiday weekend. The action still continues to be a little bit slow. I got held up by a little bit of a technical difficulty this morning on my platform. For some reason, I was unable to open new positions, couldn’t really get it figured out in time to capture a move that occurred, but that’s okay. The good news is, is that I was able to close the day just slightly in the green with the shares I got filled. That’s always a positive, not to be caught on the wrong side of a trade when your platform is malfunctioning. Anyway, we’re going to talk a little bit about that today and also about the setup that we had because there was a really important technical moment that took place in this stock that you can use in your trading to locate these high probability setups. Let’s take a minute and break down today’s trade. All right. Good afternoon, guys. I want to do a recap here this morning of today’s trade. Unfortunately, I had an issue with my platform this morning, and I kept getting error messages as I was trying to open up a short position on this AEO. I’ve gotten an error… Just for context, I’ve been using Light Speed here for almost 10 years. I’ve never seen this error once, so it’s very strange. I was unsure as to what it really meant. The error message read “unable to open new position on symbol” and that was AEO. As I was trying to continue to punch the orders to get short on this thing it would not fill. Told me that I couldn’t open a new position, so I closed down and restarted my platform. I tried again, and I was able to open a position, but now it only allowed me to open a max of 500 shares. Then, I just got out of that because it filled me at kind of a wrong spot, and I didn’t really have that much of a position to sit around waiting for it because the stock doesn’t move that much. I needed a lot more size to make it worth my while. I just got out of that. Then, I tried to figure out the platform issue, and I decided to call it a day because there really wasn’t much else going on. I’ll talk a little bit about the trade, but you could see I basically just got out of the trade. I was green thankfully. I didn’t get caught in a bad position going against me or something like that. That’s always a positive because I have had situations where the platform malfunctions or you have a hotkey malfunction or something goes wrong and you get caught on the wrong side of something and it can be very painful. I’m just glad that didn’t happen. The fact that I’m even flat and slightly green is always a good thing, but let’s talk about the trade itself. Talk about where I tried to get in this thing and what I was looking for because it was a very good technical setup. There was a very good entry on this to get a nice trade-off, but that happens. It’s nice it doesn’t happen all the time. This is, like I said, the first time it’s happened to me in quite a while, but let’s take a look at the trade here and talk about the action that we had. First off, AEO earnings gapping lower this morning. The first thing I notice about this is we’re gapping back below a recent swing low pivot. All right? When I see that, the first thing I do is mark that off because that is essentially the short term low for the stock. It’s basically taken out its lows. But then I looked back and I see that we have this pivoted through here, which was essentially the entry to a very minor gap. It was a gap, but it was a very minor gap. But the fact that it was a pivot in that we had a test here and then we gapped up above that and we held that as support and then we ran, that’s a really important technical point. It lined up exactly with this recent low pivot. I wanted to use that level as an area of support and it would become new resistance, but that was a very important level to watch, 14.55. Then I looked for any tread lines, any significant lines that we had, and I used the low before that as the first anchor point and connected at 14.55. We had our ascending support. I also noticed that we had a little bit of descending support. Okay? Used this anchor point, it was the former swing low, and I connected that recent swing low. You can see that in this zone, we had a big level of… A big confluence point of resistance. What I was looking for is to pull away from that, it could fill this pocket down to the next pivot, which was down here, around 12.68, 12.70-ish. All right? Right in through this level is where I get that pivot. Now what happened here on the open was we started to get a move. Let’s look at the fast timeframe first because that’s a little bit more clear. But if we look at the fast timeframe, which you can see happened is that you had this initial sort of pop and you tested the pivot. So if you look at this as I was watching it in real time you can see we’ve got a little bit of pop up. You tested the pivot, you tested the trendline and you started to fail. So I got short as you or I stopped. I tried to get short. As you failed that pivot and you started to pull it. And I tried to get you around 14.30, kept punching the buttons and just really no response from the platform outside of these error messages. But that aside, we’ll talk about the setup itself. So you get the rejection of the pivot starts to fail. So the move up fails immediately. And that’s when you want to look for the reverse back or the overall continuation, which is to the downside. So as we started to fail that pivot your entries here, 14.30s and then you’ve got a nice move, a quick move down through 14, which you know, that’s a two to 3% move right away, which if you have a sizable position, that’s a great trade, right? That’s a quick hit and a really nice piece of profit that you could get. All right, so that happened to kind of reclaim 14 quick, started to run back up and at this, during this time I’m restarting my platform, trying to see if that’ll fix the issue and it’s kind of retracing and I was waiting to see if it would come back and test this 14.55 again. Because if that was going to test again and fail, I definitely wanted to be a part of this, to take it back down through the lows. So we started to come back up. Sure enough, we test the 14.55, we test the trend line and we fail. All right? So I tried to get short here again with two big blocks, same error message. No luck, no fill. All right? So then from there you can see reject that pivot and you just fade all the way back down through the lows. And that’s a big trade. That’s over 50 cent trade on a $14 or $15 stock. That’s a very sizable move. So a lot of profit potential to be had in there, especially with such a low risk entry off of a huge pivot point. All right? So that was the trade I tried to get off on that and unfortunately some technical difficulties today, but you know, that’s gonna happen every once in a while. So one thing I do want to point out on this real quick is the significance of these swing low pivots. And whenever I see this set up on a daily chart of the stock that we’re watching, I become very interested. This is going to quickly move to the top of my watch list. Why? Because in order for you to get back through, back up above the recent low pivot of a stock takes an extreme amount of strength and volume to push back through that. All right? If it doesn’t happen, if it can’t hold back above it and push, then you’re likely to see some very nice continuation on this. Especially when you have a confluence zone of support. So think about, think of this as a ceiling, right? The stock fell through the ceiling, how does it get back through, right? It has no way to climb really back up there and it’s very difficult for a stock to jump back through a ceiling. All right, so that’s what this is occurring right here. And every time or anytime I see a setup like this, I become very interested. I’m going to watch this very closely because they are very high probability setups, especially after they retest and fail. So that’s why I was watching AEO so closely this morning to get that move off that level and take it down for a nice short trade. But that’s how it played out. I know on a five, it doesn’t really look like there’s much movement, but you know there, there was definitely a good amount of movement in here trading off the fast timeframe, waiting for that confirmation of that fail, get short and then take it down for a good 50 cents. So that was what we were looking for today. Unable to capture it, but you know, we’ll get back at it first thing tomorrow. We should have it resolved. I don’t see why not. But other trades today, you know we had COUP on watch for a long above pre-market highs. Obviously this thing made a nice run but really tough trader, widespread, tough to manage risk. And we talked about that before the market opened. We knew that it was going to be that way, but it wasn’t one that I wanted to really get involved on. There’s a little bit too volatile for me. I couldn’t really build a position in this. I mean, you’re moving around, you know, three or four points at a time here. You gotta really be quick and quick to stop out. Plus the spreads are wide. So you know, if you’re trading to a smaller size though. This did make a really nice move. Pull back the view app and hold you got back above the pre-market high and kind of held here. That was the long trade, right? Because here you just pushed above it. You never held and pivoted above it. The important thing is to get above and pivot, just like you did here and push. So that was your entry around 150, 140, about 9:35 AM and then you’ve got that quick move. But again, came right back in and basically to that entry point and then it took off again. So although it’s just a tough trader, it’s kind of whip, you gotta be fast, you know these downdrafts are tough to handle, right? If you’re like getting long here. I mean, I know this probably hurt a lot of people because I could see why you would take this long here. You’re trending higher, higher lows. Looks like you’re essentially breaking out of a bowl flag, right? And it looks pretty decent to take this long and then all of a sudden you just get the bottom dropped out on you. And that’s a really tough situation. And that’s why usually when I see stocks that have widespread and tough to trade price action, I typically just steer clear them because if I get caught in a move like this with, you know, 2,000 or 3,000 shares, that’s a problem. And I just rather not trade or sit tight and wait for a better opportunity to come up then try to risk this type of move. Because this is unknown risk. And I know that stocks like this tend to trade like this often. So I just typically stay away from those types of stocks because things like AEO that are much more liquid and have a lot of volume are much easier to manage. You know, they’re not gonna move as volatile against you. So they’re little bit more manageable and a little bit easier to trade, and ultimately that equates to lower risk. So anyway, I’m still lacking quite a bit in the momentum for large caps. That’s been a couple of weeks now that we’ve seen the slower action. And you know, the good news of it though is we are starting to push into what’s typically known as the best time of year to trade. And that’s going to be into the autumn and fall, fourth quarter of the year. So we’ll just kind of have to sit tight and patient and then wait for that action to return. Because when it does and the later part of the year here at fourth quarter, it starts to get a much more fun. So anyway, we’ll wrap it up there guys. I’ll see you guys back here first thing tomorrow morning. Hey everyone. Thanks for watching the videos. I’ll continue to make sure that all of the watch lists, as well as it recaps, are available to all of you. Make sure you subscribe to keep up to date on what’s hot, what’s not in the market. The post Technical Difficulties! +$47 on $AEO | Mike’s Trade Recap appeared first on Warrior Trading.
6 Sep 2019
+$6.6k on OPGN in Less Than 1 Hour! | Ross’ Trade Recap
What’s up everyone. All right, well here we are finishing the 11th consecutive green day, definitely a hot streak here. Over the last 14 days, I’ve made over $65,000 trading one hour a day. Today, another $6,600 on one stock, OPGN. Now, the disappointing thing today is I had my first loss of the month. I had two winners and one loser. So far this month I’ve taken a total of four trades, and I had one winner yesterday, one trade, one winner. Now, as I think about it, I’m trying to remember if I only took that one trade, but I think I only did. I think it was just one trade yesterday. That puts me at four trades on the month. Three winners, 75% accuracy and nearly $10,000 of profit. We are moving in the right direction, building that cushion for the month of September. So I’m in the driver’s seat for the rest of the month, and it’s just coasting from here. Continuing to strive for that $2,000 daily goal. And when I have some days that I see an opportunity, I’m going to feel like I’ve got a little bit of a cushion. I can take the risk for that potential big winner. All right, so hope you guys are enjoying these recaps. As always, questions, comments, leave them below, and I’ll see you all first thing tomorrow morning, live streaming 9:15, the pre-market watch list. All right everyone. So we’re going to break down the trades from today. I’m going to finish here my 11th consecutive green day, up $6,656 and 18 cents, which is awesome. That puts me up about $9,000 on the week here, which is terrific. Because this is only Wednesday, and the markets were closed on Monday. So it’s a two day … Two days in the week, I’m already up $9,000, close to 10 grand actually. And this puts me in great shape as I make my way towards the weekly goal. Weekly goal is 10,000, monthly goal is 40 grand, and this is a good start. One of the other things that’s of course really nice is being able to start to build a cushion early in the month, because then it puts me into the driver’s seat for the rest of the month. If I see an opportunity to be aggressive on something, I’ll feel like I can afford to take it. If it ends up being a winner, it’s just going to put me in better shape, and if I do have a few back to back losses, I’m going to have to slow down and adjust. But at least at this point, I’m in a position of strength. Whereas last month at this time, I was already in the red. So the one stock that I traded today was, OPGN. Now this was straight off the watch list, but I wasn’t totally sure how I was going to trade it, because by the time the bell was ringing, the pre-market chart was a little bit messed up. So let’s look at this. At 9:25 AM, so five minutes before the bell was ringing, this was gapping up 57%, 878,000 share float, 569,000 shares of pre-market volume, and aa price of just over $10, at 10.25 so this was the only thing about it that I was like, oh, that’s a little high. The headline, I was also a little skeptical on, not this one. But this one, entering into a definitive agreement. And you can see that, let’s see … “Pursuant to the implementation agreement, the business of the seller and the business of the company will be combined by the purchaser’s acquisition of all the issued and outstanding capital stock.” So any time you have these acquisitions and mergers and these types of catalysts, it can be a little bit confusing, what that really means. What is the actual dollar figure that’s tied to it? And that wasn’t totally clear, to me and probably to other traders and investors who have been actively trading this stock. And that’s why it hasn’t been trading, just pinned at one price. So, as we were getting ready for the bell to ring, unfortunately it was breaking below the [V-wap 00:04:25], it was selling off a little bit. The other stock that I was watching this morning was tops, T-O-P-S, and I could have taken a trade on this one, on a red to green move on the five minute chart. But when this happened I was really still focusing on OPGN, and starting to kind of wind down a little bit, because I’d had a couple of really great trades. So I decided to not take that trade. And actually today I have, let’s see, three trades, two winners and one loser. And we’ll break down each of those trades, and those are all on OPGN. All right, so OPGN, let’s go back here to the open. So this is the open, and as you can see, I’ll pull these off, the bell rings, and we start with two red [doji 00:03:04] candles back to back. You’ve got a red doji right here, and another one right here. And then all of a sudden it rips up. Let’s look at the ten second chart to dive in a little bit deeper on how this pattern was really unfolding. So I’m going to go back to ten second chart, and here we go. All right, so the bell rings and it immediately starts surging up. And I said, “You know, I’m not feeling comfortable about jumping into this. I think a red to green move is going to be a safer setup.” So a red to green move where it pulls back and then surges back up. I was like, I just think that’s going to be better. I’m a little nervous about jumping into it. So on this stock being above $10 I knew the risk was going to be higher. So in the first 10 seconds it surges up to 1092, and then drops here back down to 1030, and then goes down to 1004. Now, I had drawn this line at 990, which was sort of the pre-market support level. And then I had a pre-market resistance level up here at 12, right here. Now we ended up moving that up to 1237 or so, which was the high of this candle. But at the time, this morning I was looking at resistance around 12 and support around 990. And so right here we’re coming down to 990, it looks like we’re going to break. And then it surges up right here. Part of me was tempted to jump in this, because I thought maybe this is the red to green move, but I … And I was actually using the ten second chart, but because this candle was so red, I just didn’t feel like I could trust it yet. And I was still watching the one minute chart as well. And the one minute was not looking very good. So I left that alone. It pulls back a little bit more. It then does this kind of bear flag right here. It drops down to 990, it hits a low of 92, and now it’s breaking this support level, and it’s bare flagging right above it, and then it drops down. And so at this point I was kind of like, all right, well, I guess this is it, I guess this isn’t gonna work. Oh, hang on one second. Hmm, that’s interesting. Let me just … No, it doesn’t look like that’s streaming. Hang on. I’m just gonna change one of my stream settings here. Let’s see. Stop. Sorry guys, those of you who are watching. Okay. All right, I’m just going to copy paste this streaming key here. Okay. And that’s what it was. Okay. Paste. And paste. Alright, so we’ll get that back up and running here. So in any case, I’m going to have to play with my settings there again, it looks like there might be some issue. So in any case, OPGN dips down here, drops to 962. And I’m thinking, all right, well this is clearly weak. It’s not holding up very well. So I’m just gonna leave it alone. And then it surges up here, right here, to 1038. It then pulls back for a second, and boom. That’s where I jumped in, because all of a sudden it turned around here. And so this, to me, I felt like kind of trapped short sellers because it had this drop and then all of a sudden it rips back up. So as it ripped back up, I watched it right here. And that’s where I jumped in for a break, over the V-wap, first one minute candle to make a new high on the one minute chart. So I’m in there, I actually tried to buy 9,000 shares. So to answer your question about managing risk on that type of trade, the way I manage the risk on that trade essentially was, I focused on what I really believed wasn’t A-quality entry. I knew I wanted to focus on a red to green move. I felt that a red to green move would be lower risk than trying to do a breakout over high of day, for instance. If I bought a high of day break getting in with my entry at a 1090 that would have been really extended. That would’ve been a really high place to be a buyer, and there’s a really good chance that, on that type of set up, it would have seen a potential false breakout. And I could’ve been in it at the high, and getting stopped out back down at 1030 or something like that. And that would be a 60 cent stop. That’s way too much risk with 9,000 shares. It’s a $4,500 plus loss. Full Video On Youtube! The post +$6.6k on OPGN in Less Than 1 Hour! | Ross’ Trade Recap appeared first on Warrior Trading.
6 Sep 2019
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The Tradeosaurus Rex Strikes Again +$2,778! | Ross’ Trade Recap
What’s up, everyone? All right. So welcome back from the long Labor Day weekend. I hope you guys really enjoyed it. I got a little rest, and hopefully, you guys did too. So here we are, first trading day of September. One trade, one winner, $2,700 of profit. A little bit more than the daily goal, and that’s a great way to start the new month. Now, if we look back at my calendar for the month of August, my first day was only $47 of profit. Then, the next day, which was Friday, August 2nd, I didn’t take any trades because nothing looked good. I didn’t trade again, well, Monday the 5th. Then, we had the 6th, a red day, 7th, a red day, and the 8th, a red day. So it was a terrible start to the month. So just starting here with a green day starts to build a little bit of a cushion. You know, it’s not a big cushion. I’ve still got to be careful tomorrow and also be mindful that today, we didn’t see the level of follow-through I would like. During the recap, we’ll talk about ELTK, which I traded this morning and then, during the recap, squeezed up and got halted on a circuit breaker at $7. And then resumed the low at 6.60 and ended up fading. But we were watching it live, and we kind of broke it down. So enjoy that during the recap and as always, questions, comments, leave them below. Today, we have extended our Labor Day sales. They expired at midnight. We pushed that back to midnight tonight. So jump over to the website, use the coupon code, Labor Day, to save 30% storewide at Warrior Trading. All right, see you guys in the chat room. All right, everyone. So I’m going to finish the first trading day of September up $2,779 and… $78.99. So not a bad start to the month. One trade, one winner, and just a little over the $2,000 daily goal. Today is the 165th trading day of 2019, so we, well, certainly coming to the last, well, last push, the last four months. I hope that we see some really good opportunities here as we close up 2019, especially in November and December. But starting the first day of the month with the green trade is always nice. It doesn’t always happen. I’m sure some of you guys who traded today, whether it’s real money or in the sim, may not be in the green. I started August in the red, so I certainly know both sides of the coin. I’ve been in both places and I think for me, today, I set a little bit of different a goal. So let’s kind of go through how today unfolded. All right. I hope you guys all enjoyed the weekend and got some rest. Those of you guys who took us up on our Labor Day sales, I’m glad that you did that. I’m going to pause this here or mute it, at least. I’ll just go like that. Alright, so leading gapper this morning was CDTX. Now, this one, I really wasn’t particularly interested in. It’s a stock that I have traded in the past, quite a while ago at this point. It really hasn’t been a very interesting stock in quite a while. So with it gapping up today 70%, I was impressed. That’s a huge gap. That’s a really big move. And yet, I didn’t really think I had a lot more in it. So we had the high here of 3.18 pre-market. By the time the bell was about to ring, it had broken below 3.00, below the VWAP, the volume weighted average price, and then it curled back up. So we opened today at $3. It immediately surged up. It hit a high of 3.08, dipped down, surged back up to 3.09, dipped down, came back up to 3.05, and then sold off from there. I didn’t take any trades on it. So this stock, it meets my criteria for price, certainly meets the criteria for gap. It clearly has news. However, the floats 25 million shares, and I typically focus on under 10 because those are stocks that are more volatile during trading hours. The volume was already 2.15 million shares, which is a little high. I like to see above-average volume. But when you get to a place where you’re above a million shares pre-market and you have 25 million share float, I usually look at those types of stocks as having a lot of tension, a bit of a tug-of-war. It’s more difficult to see really big breakouts. So it’s kind of harder to get nice 20, 30 cent moves on these types of stocks. So in terms of weighting the criteria of an aquality setup, I would definitely weigh float as one of the highest because even if you have everything else that matches up, even the volume, the float can just be a deal-breaker. So that was off the list. ABEO, for me, I wasn’t interested in it. Now, it did end up making a nice move from $2 up to about 2.78, nice clean pullbacks. It’s a stock that’s been beaten up for a while, as you can see. It did have a catalyst today of news, and this one did end up working out a little bit better than I suppose I expected. But I left it alone with the float being on the higher side. ARDX, floats too high. This one, price is a little high, volume’s a little low. This one, volume’s too low. It doesn’t have a float. This one’s too expensive. This one’s a little too expensive. So you can see as we’re going down the list, the first one here that you might look at would be USOD. However, this is United States Short Oil Fund. So I’m not going to trade that. So basically, there was nothing on the list for a gap and go trade. So we talk about the gap and go strategy as part of the Warrior Pro Courses. It’s a strategy of looking for the leading gapper and trying to ride that momentum. But I have to be very specific about which stocks I’m willing to apply that strategy to and which ones I’m just going to sit on the sidelines. These were all ones that I was not interested in. All right. So the bell rings, and we come in pretty much with the mindset of watching the high of day momentum scanner. Now, I will say that ELTK was the first stock I looked at this morning because it was the last stock I was looking at on Friday. On Friday, it made this move from 4.50 up to 5.00, 5.50, 6.00, 6.50, all the way up to a high of 7.20. I kept seeing it hitting the scanner Friday afternoon, and I was impressed. I was feeling a little FOMO, and I was just like, “Wow, man. This thing is really taking off.” It is a former runner stock that I had traded in the past. So to see that move on Friday was impressive. So it was the first one I was watching. Or, it was the first one that I looked at earlier this morning, but that was at like, I don’t know, maybe 8:45 or 9:00. So by the time I was doing my watch list, I’d kind of forgotten about it. I wasn’t really thinking about it. I think I might’ve had it up on my level two from Friday, so I might’ve had it up here at one point. So I was kind of like interested, but sort of looked away and was focusing on other things. The bell rings, and this ends up squeezing up right here. The high of the day was 23. It squeezes up, it hits the scanner. Oops, sorry. Let’s see. We’ll use the scanner. So hits the scanner at 25 and then 57, 69, 69, 75. So it’s boom, boom, boom, hitting the scanner. As soon as it hit the scanner right here. I was like, “Whoa. ELTK, yes. This was the stock that I was looking at earlier. Someone even mentioned in the chat room, ‘Hey, check it out for red to green move.'” So I think I pulled it up just before it did the red to green move and Shift+1, Shift+1, Shift+1, Shift+1, I’m pressing my hotkey to buy. Now, ZBZZT, this is the NASDAQ test stock. So this is what happens when I press ZBZZT. Boom, just like that, just like that, just like that, just like that, I’m in 12,000 shares. That’s why I did on ELTK. Boom, boom, boom, boom in 12,000 shares, adding as it’s squeezing up. So I take my starter and then I’m adding, adding, adding, hits a high of 85. Now, on this one, I was thinking, “This is the first stock that’s hitting the scanner today. It looks good.” So I was thinking, “This thing might rip up to 7.00 and then if we can break 7.20, we’re breaking the highs from Friday.” So I was starting to get a little excited, “This might be a really nice trade.” It rips up here, hits a high of 85, it then pulls back right here. It then drops down to 25, which is not good. It bounces back up to 62, and I’m selling through here on this bounce. I’m hopeful that I can hold my last position for a one-minute micro pullback and retest at the high. I would have been okay with adding if it had done that. But then as it broke here, the low of… Let’s see. Actually, no. Then it dropped down to 13. I was still holding about 700 shares through the bottom of this pullback, and then I finally sold the rest of it right here. So I was really disappointed that what could have been an awesome trade, a breakthrough, $7, and potentially a 50 cent plus winner on 12,000 shares, ended up only being about 20 cents. So I’ll sell this ZBZZT test stock, so all out now. That is a test stock, so it’s not going to contribute to my daily gains or loss, which is good. But yeah, overall disappointing that this didn’t work out super well. So then the next trade, BLRX, it hits the scanner and I was like, “Hmm, I don’t know.” Because ELTK kind of failed and now this one. So it hits the scanner at 3.25, 3.40. If I had jumped in it right away… Well, it did end up hitting high of 64, so a 35 cent breakout. It’s not bad at all. But this did not hold that level. It then comes back down and as you can see now, it’s back down at 2.30. So a big rejection there. So at that point, I was like, “Now, that’s two. ELTK rejecting, BLRX rejecting, I better step back here.” Then, when I saw ABEO going a little higher, I just thought, “Well, I don’t know. I better not risk it. I’m just going to leave it alone.” I don’t think anything else has hit the scanners. NETE and OSN, I guess hit for a second. OSN did a little red to green move, but it hasn’t sustained very well. NETE is a little bit of a daily setup over 5.20, but that one’s also not looking particularly impressive. This ARDX is a higher float stock, 55 million shares. I’m not really sure. I wasn’t really watching this one. So that one looks like it just all of a sudden kind of ripped here from 4.00 up to 4.60, which is a nice breakout, but I think I’ll just leave it alone. So one trade today, one winner, and I’m just going to leave it at that and live trade another day. Be back at it tomorrow. Hope that we see a little bit more follow-through, but also we’ll be okay with taking a little bit slow. Someone asked me earlier in the room how I gauge on a trade like ELTK, will go ahead and take my profit versus hold the whole thing for that big move up to 7.00. For me, I didn’t feel comfortable… Now, ELTK, I took a pretty big position. If I had only taken maybe 3,000 shares, or 6,000, or maybe even 9,000, I might have held a little longer because I would’ve thought, “Well, you know, I’ll give it a chance.” Because I went with bigger size, I felt like I needed to reduce the risk a little faster because there’s more risk with bigger positions. So that might’ve been part of it there. But a bigger part was the fact that at the beginning of the month, I don’t have a cushion on the month. I’m at zero. Even though I could certainly say, “Well, I’ve already done really great on the year. For the rest of the year, I’m only going to swing for home runs.” I’ll probably get a few, and they’ll end up being $25,000, $35,000 winners, and there’ll be trades like this that ended up being either break even or small losses because I just throw in the towel or whatever or I just let it stop me out flat rather than take the profit. Full Recap On Youtube! The post The Tradeosaurus Rex Strikes Again +$2,778! | Ross’ Trade Recap appeared first on Warrior Trading.
3 Sep 2019
Closing August in the GREEN, Here Are My Stats! | Roberto’s Weekly Trade Recap
What’s up guys? Roberto here, and we are here for one more weekly recap. This week, I took an overall total of four trades and I had three winners and one loser. Unfortunately, I did close the week with a loss. It’s never a good feeling when that happens closing up on a Friday, especially on a long weekend because, remember, next Monday, markets will be closed and I actually will be off for the next full week. That’s never a good feeling, but it is what it is. In the end, we are never in control of the outcome. What we can control is our plan, our risk management. It’s all about what the market is willing to give you. Enough talking, let’s jump over my shoulder and review those trades together. All right guys, so let’s talk about this weekly recap. As I said, I ended up taking four trades. Now, we are also coming to the end of the month. The end of the month is always a good time to kind of watch back and look for your stats. If you don’t do it on a regular basis, I will suggest you to do, you’re going to learn so much from yourself. Excuse me. As I always say, you are going to become your own teacher in the long run. Definitely, definitely there is no other trader you will be able to learn from than yourself. Once you get strong foundation from a serious program, such as the Warrior Pro, which is really one I would definitely recommend, not because I’m here guys, but because I truly believe it can make the difference into speeding up the process of becoming consistently profitable. After that, of course, you are going to go and learn from your own way of trading. You are going to end up refining your own approach in a way that you can learn from your trades. The only way to me to be doing it in a real, real detailed way is by processing and reviewing your trades, so you learn from your mistakes. You learn where you could have done better, no matter if the trade ended up green or red. There is always a lesson to learn. Here’s my month of August, can’t really complain about the overall numbers. One of the best month for me this year and [inaudible 00:03:19] is right above 65%, so it’s above my 60% benchmark. Profit [inaudible 00:03:27] ended up being above 4.521, which is truly, truly remarkable. With that being said, let’s analyze the trades in a way that you can definitely learn more insights from my standpoint. The first trade I took was on [ROCO 00:03:53]. Actually I ended up taking the first rate on Tuesday, I didn’t take any trade on Monday. There was simply nothing I really liked, in the terms of the setup that I wanted to trade, and so ended up skipping that day. On Tuesday, I took two trades, one ROCO, the other one [SGAM 00:04:20] so let’s analyze those. First one on ROCO, so why did I have ROCO on watch? I did have that on watch because, as you can see here, it’s usually, here on the left, I have the three minutes chart. On the right, on the top part, I have the 10 minutes chart. Here, on the bottom right part, I have the daily chart. Now, if you guys are interested, I am going to drop down below in the description a link for you to eventually subscribe to the service I use, which is TradingView. After that, you can definitely, definitely drop me an email and I’ll be happy to share with you guys my own layout. It includes all my custom made indicators that I use for my trading. One of those custom indicators is extended session high, low and it’s one of my favorite one, for sure. You can see here, it’s going to indicate me where the pre-market high and low [inaudible 00:05:36] is at. In this case, for ROCO, there was a catalyst, some good comments made by a firm. I couldn’t really remember what was happening that day. The story was that we had pre-market volume. We had 200,000 shares traded already pre-market. We had this relatively small gap to be honest with you. That’s the fact, and that’s what I didn’t really love. You can’t really see what they were talking about here in the daily chart. That’s typically not a great sign to be honest with you. What I liked was the fact that we were gapping higher close and a little bit above previous day high. Whenever that’s the case… And the previous day, actually we had a huge run up. This thing really, really looked quite strong. I did include it in my watch list even though it was just on the back burner, because what I just said. The gap wasn’t really huge as well as the catalyst was not the strongest. What I was interested here was to see, of course, as usual, a potential breakout and hold above pre-market highs to take either a three minutes opening range breakout, which I ended up not taking even though the setup was quite there and it would have actually worked quite nicely all the way from 14620s all the way into the 14750s. I skipped on the three minutes opening range breakout just because, as I said, I wasn’t really sure about this thing because of the smaller gap and the weaker catalyst. Instead, what I did, I waited for the next setup and it happened right here. As you can see, we had the three minutes consolidation right above the view [inaudible 00:07:51] here this orange line is the [inaudible 00:07:55] this blue line is VWAP. I ended up taking here position long. This candle you can see, now it’s in the form of a shooting star of course. What I ended up doing, I ended up taking a position here at the break when the price broke, that previous candle high at 14690. Then, I applied my stop, my mental stop, right here at the low of this candle into the 14630. Now, as you can see, my post-processing, what I actually ended up writing is that I entered the trade after the three minutes consolidation. Stop area was 60 cents below my entry. I put out the order for the first target out at 14775, so I entered at 14690. I would have gotten my first target, so one third of my position, the position out at 14775. The funny thing was the stock gets there, gets exactly 14775, so I got the top ticket but it doesn’t fill any shares of my order. It gets rejected. Then, the move gets rejected and I get out, practically break even. I actually got out like four cents above my entry on that big rejection that happened afterwards. As you can see here, the high of this very candle is 14775. Here on the top left corner, I have the high of each candle. I add the order out, 14775, and I get no fills. This thing pushes and for a second. Full Recap On Youtube! The post Closing August in the GREEN, Here Are My Stats! | Roberto’s Weekly Trade Recap appeared first on Warrior Trading.
2 Sep 2019
+$55K in The Last 12 Days! | Ross’ Trade Recap
What’s up, everyone? All right. We made it. It is the end of August, the end of what is typically the slowest month of the year for day traders. Gosh, we ended up finishing in great shape. The first 10 days were tough. The last 10, 12 days have been amazing. $55,000 in the last 12 days. I went from down 10 grand on the month to up 45,000. Now, this morning when I was getting ready to come into the office, I was picking out my outfit and stuff. I had this Jerry Garcia shirt which… I don’t know. August, Jerry Garcia, the Grateful Dead, it’s just… I don’t know. For me, I was like, “Oh, I’m going to wear that.” I looked at it, I picked it up. I said, “What the hell is the matter with you? There is no way I’m going to wear red on the last day of August. I just can’t risk it. Not in this market.” Put it to the side and wore this shirt instead with the sunflower. Sunshine daydream. It’s August. It’s Labor Day weekend. Let’s all get out there, enjoy it, enjoy the warm weather. Those of you guys in Florida, stay safe. We’re going to be thinking about you. Well, I’ll be back at it Tuesday morning. We’ll start a new month, new chapter. All right? Set your goals for the month of September. Whatever your goal is, whether it’s to manage your risk better, focus on bigger winners, tighter stops, whatever the case is. We’re all going to start in the exact same place in September. All right? New month, new you. Let’s get to it. I really encourage you guys to utilize the coupon code Labor Day. You’ll save 30% store-wide Warrior Starter course. Includes chatroom and sim. Warrior Pro course includes the Starter, the chatroom, and the sim. You can get in there. You can learn my strategies. Practicing the sim in September, October, November, December. The months are typically the hottest. Hopefully you’re able to start actually putting the pedal to the metal and making some money. All right. Hope to see you guys in the chatroom, in the classes and everyone else. See you first thing Tuesday morning. All right, everyone. We’re going to do our midday market recap here. I’m going to finish the morning up. $2,500 in my main account plus another 1,700 in my retirement account. $4,263.76 which is not bad for the last day of August. Finally here at the end of the month, this has been a crazy month because I started with basically one two three, four, five red days in a row, which was terrible. I mean, just a terrible red streak. I didn’t have a green day for almost two weeks because during that five-day red streak, I also took two days off. It was like… Let’s see. I had one, two three, four, five, six, seven, eight, nine, 10 days where I was either breakeven or red, which is I think one of the longest cold streaks I’ve had in years. That was terrible. I was down 10,000 on the month, which is also disappointing. I mean, I came into the month of August when I was in Italy in July with Roberto. We were talking and I said, “July or August is typically a difficult month for me. What I’m going to do this year is I’m going to take money out of my account. In August, I’m not going to be able to swing for the fences with really big share size. I’m just going to be a little bit more conservative. I expect it’s going to be a difficult month. I’m going to adjust my profit target to maybe only $10,000 or maybe just $20,000 of profit.” But even with small account size, the first week, I lost… Oh, I was down like three grand. No, actually, I was down about five grand by the end of the first week. Then coming into the second week, I felt like I needed to compensate and make up for the fact that I was red on the month. I started trading a little bit in the afternoons. Trading in the afternoons got me into some trouble. I ended up losing more. Then I was down about $9,000 on the month as of the morning of August 15th. Halfway through the month, I was down 10 grand basically. Then on the 15th, I made 2,000. The 16th, I made 4,000. That week was a turnaround. I was basically flat on the week because I’d lost money the first three days but made it back on Thursday, Friday. Then last week, I ended up having a really terrific finish with 8,000 on Thursday, 10,000 on Friday. That’s continued into a really strong week here making… No. I made a little bit less on Monday than today, but it’s been a strong week. However, I still am going to maintain that Tuesday was definitely my high watermark with $17,000 of profit. Wednesday was four grand, five grand yesterday, and another four grand today. These last three days have been a little bit smaller. I’ve definitely noticed that we haven’t seen the same level of follow through or resolution that we were seeing earlier in the week and the last week, which is a little disappointing. MTC yesterday. Now, look at this one. Squeezes up, gets halted on a circuit breaker, and drops down, rejection. Then it rips back up. Today, OPGN squeezes up on circuit breaker, rejected, comes back down, I bought the first pullback. I bought the first pullback right here and rode that momentum back up. I also bought this pullback right here, but this ended up being a false breakout. This was the one today that gave the most profit for me. My first entry on it was as it curled up right here on the red to green move. It went from being below the open here to breaking through this level, hitting the high day momentum scanner. Now, this stock was already on watch today because it was a reverse split. I think it was on one of the scans yesterday because it was a reverse split. Kind of was watching it but not super seriously. But I was like, “Well, it ended up rallying up a little bit yesterday on light volume. It’s worth watching. Really needs news.” But sometimes these reverse split stocks end up making some nice moves. The bell rings, it pops up. It then drops back down. I had it on a chart, but didn’t really do any thing that for me was interesting at this point. Then here, it starts to curl up. Boom, breaks through seven. Breaks through 7.20. High of day at that time was 7.25. Breaks through 7.25. Back on the high day Momo Scanner at 7.28. I think it was on the scan this morning as well, but maybe not. Anyways. 7.28, 7.43, 7.68. Gets halted on circuit breaker. It resumes. Hits a high of 8.24. I take some profit on that trade. I make some money. But the rest of it, I stopped out coming back down so. It didn’t really hold that level. But then right here, it does this kind of A, B, C, D pattern which is where we would say it drops, comes back up, comes back down. This is the trigger point to get back in. I got back in right there over 75 which also coincided with the first five minute candle to make a new high. That was a solid trade from 75 here up to 8.50. It was 75 cent breakout right there. Now, on this candle, it actually hit 44. We Dropped down to a low of 7.61 and then ripped back up to 8.50. As it ripped back up, I added back right up here. On that one, I actually gave back a little profit because it came back down. I thought it was going to break over 8.50 and I was wrong. Then it comes back down. It comes back down here. Sideways consolidation. At this point, we’re setting up another five minute patter. As soon as it broke this level right here, I was adding at 8.25, 8.28, 8.30, 8.34, and then I added again. Took a little higher than that. Anyways, it breaks over 8.50. It rips up to 8.68 but it doesn’t hold that level and it comes back down. That was the rejection. Kind of not the best follow through. I mean, it’s still up. What’s it up right now? 20% on the day. But I was hoping for more. I thought this had a little more potential. BNGO, this one, very disappointing as well. It was one that I wasn’t watching very seriously. It was a gapper but on very light volume. Because it’s not in the price range where I typically do well, I sort of set low expectations for it. But out of the gates, it ripped up. I jumped in on this pullback right here. I was able to make $600 on this breakout. I then got back into it. I think it was right here I got back into it. On that trade, I ended up losing a 1,200. I went from up 600 to down 566. At that point, I was red on the day. I think this is the first day I’ve been red on the day in maybe a week or so. Maybe more than a week. I was red on the day and I was like, “All right, you know what? You’re down $566. It’s not the end of the world. Your max loss is $2,000 red on the day. Let’s sit tight.” This trade on BNGO, was at 9.30. Then this one was at 9.39. Okay. From 9.39, I didn’t take any trades until OPGN hits the scanner right here at 10 o’clock. I sat patiently for 20 minutes. Felt like an eternity. Waiting for something to hit the scanners that looked good. OPGN ended up being the one. Yeah. I would say that this is a market where we’re seeing definitely more than base hits because we are seeing a lot of volatility. BNGO from $1.80 to almost 2.80. That’s a big move. No doubt about it. OPGN from a low of 6.50 up to 8.50. That’s a big move. When you have stocks making big moves like that, capturing 10 cents or maybe 20 cents isn’t that difficult. If you’re trading like me with 6,000, 8,000, or 10,000 shares, those 10, 20 cent clips add up. On OPGN, I wasn’t super aggressive on share size. I only had 2,600 shares going into this halt. The volume was lighter on it. I was pressing my SHIFT+1 hot key and I only got partial fills. I mean, there’s really nothing I could do. I mean, I got partial fills. Then coming out of the halt, rather than adding like 5,000 shares and going up to 7,500 shares, I felt like, “Well, coming out of the halt, I better be a little more careful.” I only added a thousand shares at 7.81 coming out of the halt for the break over eight. But then I was able to take some profit up here in the 8.10s, 8.20s. Then the rest, I stopped out coming back down. Even though I only had 3000 shares, this was an okay trade on the first one. It did put me back to green on the day. Then this was a better one. That was, I think, the best trade. This one, I added a little bit of profit because I did sell some up here. This was the one I took in my IRA. $1,700 on that. On this one, I took 7,500 shares. I was a little more aggressive there. But at this point, the spreads were better and the volume was a little higher. I felt more comfortable. But anyways. That’s where I’m going to finish here. Totaling it up on the week, let’s see, 19, 23, 28. About $32,000 on the week, which is pretty awesome. As you guys know, all of yesterday’s profits, I donated to some local nonprofit organizations here in Berkshire County, Massachusetts to the Humane Society, to Berkshire-Bounty for… It’s like a food pantry and to an organization that helps local farmers get up on their feet. No farms, no food. Yeah. I was happy to do that. Thankful Thursday. I really am just so grateful that this month turned around. I wasn’t sure on the 15th, two weeks ago, but boy, the last one, two, three, four, five, six, seven, eight, nine, 10, 11, 12 days have been phenomenal. Well, let’s see, $55,000 of profit in 12 days. This is the thing. Being a trader, it’s all about averages. 55,000 divided by 12 is 4,500 a day. 4,500 a day is more than twice my daily average. However, in the 10 days before this hot streak started, I was well below my daily average. You’ll have periods, sometimes, of days or weeks that are below average. Then you’ll have periods that are above average. You just have to look back over the last X number of trading days and say, “Well, what’s my average been this year?” Which actually I’m not even sure what it’s been. I don’t know that Trader View shows stats for how many trading days you’ve had. I’ll just put this up here for one quick second. This was before yesterday. I didn’t include yesterday. I haven’t imported yesterday’s trades yet and today’s won’t be available till next week. Well, next day. I don’t know if you can import on the weekends, but anyways. This will be up around 316 now. But yeah, it doesn’t say how many days that is. I was counting my days. Then I lost my calendar for a little bit. Then I stopped writing down what day of the year it was. I got to go back from June. I won’t do it now, but yeah, I’ll have to catch back up and see what my daily average is. It’s somewhere… Well, I don’t know. I can’t say now for sure what it would be. But let’s say while I was at 120, so another 40 days. Probably around one 60. Let’s just do 316 divided by one 60 is about 1,975 a day, 2,000 a day. I’m right around my daily average of 2,000. Dipped a little below it probably because of the week start of August, but hopefully, September, and then definitely October, November, December, I have high hopes that I’m able to really do quite well. I average $70,000 in November and December. If I can hit just my average, that’s going to add another $140,000 of profit. 316 plus 140 is 450. If I can make $25,000 in September and October, I will hit my $500,000 goal. If I end up averaging 55 or 60 or even just 40 in both September and October, I will come in above goal, which would be fantastic. We will see. Anyways, that’s it for me. I hope you guys have an awesome weekend. Remember, the markets are closed on Monday, but that’s no reason that you guys can’t be studying. I encourage you guys to use the coupon code Labor Day. Join the Starter, join the Pro. Get into the chatroom, into the simulator. Study up because this is… We’re coming into the time of year where the markets are the hottest and there’s a lot of opportunities. Study up in September, October, November, December. Hopefully you’re able to start making some money. All right. That’s the game plan. I will see you all first thing Tuesday morning. Enjoy the weekend everyone. If you’re still watching, you must have really enjoyed that video. 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. The post +$55K in The Last 12 Days! | Ross’ Trade Recap appeared first on Warrior Trading.
2 Sep 2019
$3K A Day Keep a Job Away | Mike’s Trade Recap
Hey, what’s up guys? Well, I’m ending the day nicely in the green and you know what they say, 3K a day keeps the job away. And we had a really solid morning of trading here, on a short sided trade right out of the open, for a really solid win. So let’s take a few minutes and break it down in today’s recap. All right, good afternoon guys. Another solid day here. This morning on BBY. We had a good short trade on this right out of the gates, and I was able to get a little bit of continuation, not the full move I was looking for, again, but enough to allow us to lock in a very solid day of trading, especially within the first 15 to 20 minutes of the day, which is always … it’s always nice to be done that quick. So BBY, again set up pretty nicely for us. We didn’t get to continuation because the spy reversed, but that’s okay. As long as you’re quick, and you take these quick moves, with a little bit more size, because you’re confident in the type of move that it can make with the technicals, then you can capitalize on them. So let’s take a few minutes and we’ll break down BBY, and the trade that I took. All right, so BBY, the first thing we noticed on this this morning, it’s gapping well below its major moving averages. That’s always something that is important, because that tells us that the stock is exhibiting weakness, right? So the fact that we’re below the 200-day moving average, we also have a trendline that comes into play, an ascending support line, and that’s where we got short, just below that, as we started to come down below that level, and we caught this move to the downside, through $60 … around $62s. All right, so looking at the daily on this, you’ll see that this is the recent ascending support trend line that we have. And we also have the moving averages that are grouped somewhat in close proximity. And then this pivot down below that falls at $61.40, because of the fact that this was a former gap, right? Former gap entry here, and the price action came back to retest that and held, and then ran to new relative highs over here. So nice little window that we were focusing on, on BBY to see if we could get this trendline to break, and then continue down towards this. And then if that broke, you really started opening up into a nice window below that. All right, so back to the five minute. What I wanted to see on this was a move away from that 200-day, and as we started pulling away from that, I wanted to get short as we broke the trend line, and try to get the move started down to at least at $61.40 pivot, all right? So looking at a fast timeframe, we’ll just walk through exactly what we had there for the entry. Now this stock definitely was a little bit difficult to get started. It had some really wild volatile price action, kind of spready and inconsistent, and that always makes it a little bit more difficult to get a trade started, especially with a little bit of size to make a nice trade. But anyway, we saw this hard move down, got below the trendline line once, bounced, then we started to get below a second time. We started to get a couple of retests here, and this is where I got short, right around $64, and we started to sell right away. So short $64, as we started to confirm below the trend line, and got this move here, covered some $63.40, $63.30s, more through $63, more at $62.70s. And as we started to get this little bit of a double bottom in through here, and start to round back out, I covered the rest as we were coming back to $63. So I essentially got a point out of it. I didn’t have really that much size on it because I was a little bit leery of the price action, and also the fact that the spy was against us. I’m always a little bit more conservative when I have a spy against me. It’s not in my favor, or sounded my direction, the same direction of the trade that I’m taking because it definitely will weigh on the stock, and it’s not going to have that … as much momentum as it would if the market was in your favor, all right? So that’s a trade I took on BBY. Again pretty quick, but just because we had nice confirmation below a major trend line, and we had a little bit of room to move, I get the trade started in this point, and then ended up continue to run, it would’ve been a really nice continuation to the day. So. But again still a nice way to to wrap up the morning there. A quick $3K on a short sided trade for BBY. All right, so that was BBY. I want to talk about one other one that we watched. I didn’t trade this one, but it actually ended up working out pretty well. Now OLLI, a big gap down on this, 25% gap down. Usually those are a little … or ones that I’m a little bit more cautious on, because they already have such a big move. We had a big zone of support in through here, but the windows between the support were okay. They were definitely levels that I could see that were tradable. But if you look at the daily on this, you’ll see where those levels come from. The first most major level is this macro ascending support line, which is really important. It basically starts from the beginning of time of the stock, and we get a bunch of interactions on this line over in through here, extend that out, and that’s basically where we are today. Now another kind of interesting point of price action here that took place, that created a pivot were these two candle days here. Hang on one second. At the volume, there we go. So we have these two candles here that sold, popped, sold, popped, creating this pivot point in through $54.60, all right? So that was a big pivot on the stock, and when you go over to the current point in time, we had this big zone of support in through here. And you can see we reacted off that level again, all right? So that’s why it’s important to notice what price action is doing in the past, to make sure you’re clear on what’s occurring or what you can expect to occur now. So I was just … I was really waiting for this to break down below $54.60, and open up. But then once we got out of the open, the price action looked really good, and the volume looks really good, and there was definitely some trades on this as you can see, all right? Right out of the open you get the quick sell, retest, fail. That would be your entry, right? If you were trading this, you’re looking back to study charts, this would be your entry. You get the first sell down, you come back to make the relief move and you fail, all right? Once you fail, that’s your entry short. So entry short, somewhere around $57.50s, get a quick move to $56, and then from there you just continue all the way down through $54.50s on that pivot, and then you make that big reversal move all the way back to the upside, all right? But good, decent tradable windows here, you can see it respected them very nicely, all sides of it, very tradable if you were fast, really great volume to work with as well. So a lot of good moves today, actually. ANF ended up working out pretty nicely once it failed the opening pop, all right? ANF, once it failed the opening pop here, and got back below $15, right? Failed $15, retest, fail. All right, you’re in at $15, you get a really nice move here all the way down to a $14.20, which is a huge move for a $14-$15 stock. So plenty of potential on that one even, all right? So it was good to see some action today. You know, we’re coming into a Friday, which is also going to be a holiday weekend. We’ve got … Monday is Labor Day, so I can do expect the action to be somewhat slower, people traveling for the holiday. But anyway, that’s today’s trade guys. A nice hit on BBY, and we’ll look to get back at it first thing tomorrow morning. Hey everyone, thanks for watching the videos. I’ll continue to make sure that all of the watch list, as well as the recaps are available to all of you. Make sure you subscribe to keep up to date on what’s hot and what’s not in the market. The post $3K A Day Keep a Job Away | Mike’s Trade Recap appeared first on Warrior Trading.
30 Aug 2019
Thankful Thursday +$5.4K Going to Local Charities | Ross’ Trade Recap
What’s up, everyone? All right, so here we are. We’ve almost made it just about to the end of August, and boy, this has been such a turnaround story for me. From down $10,000 on the month on, I think, the 14th, so almost to the halfway point. Now I’m up $40,000 on the month. As of today, another $5,000 of profit, so $50,000 turnaround in the last 10 days of trading. That’s what momentum is all about. Hot streaks, they’re always clustered together, these winners back to back to back to back, because when the market is hot, we’re seeing huge amounts of volatility. We’re seeing huge amounts of opportunity, and that’s when I make the most money. When the market slows back down, things become kind of just a little flat, or we don’t see as much volatility. Even if you want to be really aggressive, there’s just not as much to trade, and so you just kind of have to wait and make a little money while you’re waiting. But then, when things pick up, that’s the time for me to bring out the big share size and start to be aggressive. So this month really feels like a blessing to hit my $40,000 monthly goal on a month that not only did I totally not expect it, but that I was actually down $10,000 on the month at one point. And so, in this kind of spirit of Thankful Thursday, being mindful and grateful for the success that I have as a trader, for the amazing opportunity to teach all of you guys my strategy, I want to lead the way by giving back every penny of today’s profits to a couple of local nonprofit organizations: Berkshire Bounty, which is an organization that helps provide food for those who need food; Berkshire Agriculture Ventures, which helps local farmers get up and running, which is one of these things like shop local, local food, no farms, no food. And then the third, the Berkshire Humane Society. So for the pets that don’t have a home this summer and need a little bit of support in the transition or whatever they’re going through, I want to help those guys as well. I think the thing here is to lead the way, and to show you guys that when you’ve achieved success as a trader, which I hope happens for many of you, that you give back some of that success. You send the ladder back down in the form of helping beginner traders who are trying to find their path to success, and helping other organizations out there that can use the support of folks that have found some success in life. All right, so that’s it for today. I hope you guys enjoy the recap. As always, questions, comments, leave them below, and I’ll see you first thing tomorrow morning. All right, everyone. We’re going to do our midday market recap here. I’m just going to pause or mute those alerts because I don’t want to hear them right now. They’re going to distract me. We’ll break down the stocks that I traded this morning. Today’s been a pretty solid day, up $5,407 … Well, rounding up $5,406.96, but let’s round up for charity, and that’s only an extra four cents. But in any case, $5,407 today, that’s my profit, and so for Thankful Thursday, last Thursday for the month of August, I’m going to give all of this to some local nonprofit organizations. I think one of the things, as I was just saying, that’s really important is, you guys are going to find that when you learn a strategy that is consistently profitable, and you start generating a significant amount of profit, it’s the right thing to do to give some back. Making $5,000 a day? This is a million dollars a year, when you’re hitting $5,000 days. This is a lot of money to be making, and it’s certainly more than most of us need to live a totally comfortable life. There’s a lot of people out there that are struggling, and even an extra $50 a day would make a huge difference. So, this August, I’m going to make a couple donations. Last month, in July, I donated to Danny & Ron’s Rescue. We talked about this. This was the Netflix documentary, which was really terrific, and I was happy to make a donation to their rescue organization for animals. And I donated to the Berkshire Humane Society. This month, I’m going to donate to the Berkshire Humane Society again, but also to Berkshire Agricultural Ventures and Berkshire Bounty, two other local organizations. And these are really … This is about providing food to those in need. So trying to do something a little special here as we come to the end of the month. This has been a real surprising month, a turnaround story for me. I started this month by promptly losing $10,000, so I went into the red by 10 grand, which was really disappointing, but I ended up bouncing back. I had a nice bounce back, and as of today, I’m going to be sitting up $40,000 on the month. This is my profit before this morning, so $35,000, now plus another $5,400 right here, which is not bad at all. And you can see, this is my P&L from the month: red, red, red, and then the last 10 days, $50,000. From down 10 grand, now to up 40 grand on the month, so a real turnaround here. Okay, so let’s talk about the stocks from today. This is an interesting day, because today, I didn’t have a strong sense of what was going to be working as we came into the open. The leading gapper this morning was ROX, R-O-X. However, this stock, trading sideways on a buyout. So the company’s been bought out at a $1.27 and it’s trading at exactly that amount. It’s just going sideways, so we’re not going to trade this. There’s no volatility. We profit from volatility. It’s up 90%, which is awesome, but it’s not going to give any opportunities for additional trades. So that’s ROX. ARCI, second leading gapper. This one I didn’t really trust. My issue with this one was primarily that it had this big sell-off two days ago where it squeezed up, it didn’t hold these levels, did a total reversal, came back down, from $9 back down to $3.96. I mean, really terrible. So, as it was gapping up today, I really just felt that this was going to be, at most, a small bounce off the lows. I just didn’t think it would be anything really impressive. And the only opportunity on it that I kind of missed, I suppose, there was this little break over $5. It hit a high of $5.08, and then dropped down to $4.75, so it didn’t hold that level at all. So that was a failed breakout. It then came back up a second time right here, broke $5.08, and it did end up squeezing to $5.53. Did a little one minute pullback here, rejected, and sold off. So this was an opportunity. However, at the time, the stock was below the VWAP, the volume weighted average price. It was below the moving averages. It was, to me, weak on the daily. And I thought, “You know what? Right now I need to be the spear fisherman. I need to be looking for that perfect opportunity, and this is kind of a small fish. I could take a swing at it, but while I’m focusing on that, I might miss a better opportunity and I might end up making a mistake and having an unnecessary loss. So I’m going to just leave that one alone.” So that one I just set aside. This one was too expensive. This one didn’t have enough volume. CPAH, I said, “I’m not really into that one because it’s too cheap.” Now let’s look at my metrics year-to-date. Year-to-date, coming into today, not including today’s profits, net profit $306,000. Gross profit, before commissions, $361,000. So my brokers made $56,000, or $54,000 and that’s because I’m a pretty active trader, so that’s just part of the deal. 70% accuracy, which is nice. And price and volume. Look at how much money I make on stocks under $2. This year, only $5,000. Not a lot. Most of my profit has been on stocks between $2 and $4, $2 and $5, and on stocks between $5 and $10. Above $10, I’ve made money, and those have been on the days where stocks usually open the day at like $7 or $8 and squeeze up to $9, $10, $11, $12, and move higher. The couple of trades I’ve taken on stocks between $20 and $50 have been, again, ones that were in the teens and just kept going higher and higher and higher. And fortunately, I know my wheelhouse, and I stop trading above this price range and I don’t go below a dollar, so this is where my profitability is pretty much. And when I saw CPAH, I pretty much looked at it and thought, “It’s below two bucks, not really worth taking any trades on. This isn’t going to be a particularly strong trade, so I’m going to leave that alone.” So left that one alone and, in fact, it did end up making a bit of a move here from $1.40, a little pullback here, $1.58, and then a squeeze up to $1.79, but I sat on the sidelines for it. So that’s fine. Left that one alone. Going down the scans further, so this was off, off, off, off. Nope. SFET was the same. It’s too cheap, so I wasn’t interested in that. Oops. So I left that one alone. This was too expensive. And so, basically, you can see the top 10 gappers. None of them looked good for me for a gap and go trade. Today, I was watching the high day momentum scanner, and the bell rings, the market opens and we see CPAH hitting the scans. RKDA pops up. RKDA, I thought, “Well, first daily candle to make a new high is over $8.50. There’s a possibility there, but I don’t know if I’m really into it. I think I’m going to leave it alone.” So I left that one alone. ARCI was on the scans. This more expensive one was on the scans. This one was on the scans, TWMC, but it was selling off, so it came up on the scans as it bounced off the low, but that wasn’t hitting new highs. Below high a day is the filter on that scan. ARCI, on the scan again, was sitting on the sidelines for that. VTSI. VTSI I did end up trading, but not the first time it hit the scanner. It squeezed up from a low of $2.25 all the way to $3.00, and then it pulled back. I bought the five minute breakout right here, talk about that in a second. Then MTC hits the scanners. I see it, and the first thing I see is, it’s hitting two of my scanners at the same time. It’s hitting my high volume, low float scan, and it’s hitting my former low float momentum stock scanner, so hitting two of them at the same time. Now that, for me, is usually a pretty good sign of strength. So I pull it up, and as I’m pulling it up, I’m already bringing my mouse here and typing in MTC and I’ve got my hand on the buy button. All I need to do is look at the daily chart, and I remind myself, “Yep, former runner. This is the day where it went from $2.50 To $13. We are in a hot market right now. It is squeezing up. It’s already up 15%. It’s a former runner, history of making big moves. The daily chart is okay. It does have the 20 moving average here, but I think it’s worth a try.” So I jump in. Now, I’d also quickly noticed that it had a squeezed from about $3.50 up to $4, so buying as it broke over $4, and into the circuit breaker halt, which was at … Let’s see, where was the halt? The post Thankful Thursday +$5.4K Going to Local Charities | Ross’ Trade Recap appeared first on Warrior Trading.
29 Aug 2019
Back in Action! +$3.2K on $ADSK | Mike’s Trade Recap
Hey. What’s up guys. So I’m ending the day nicely in the green here by just over $3,000 on a trade this morning after no trades on both Monday and Tuesday. It’s definitely been a little bit slower for the trades in large caps, but it’s important to remain patient and just wait for those obvious opportunities to present themselves. And that’s the point in time when you become aggressive and it makes trading much more simple. So let’s take a few minutes and break down today’s trade in the recap. All right. Good afternoon guys. Time for the recap here of this morning’s action. We actually had a pretty decent day, nothing too substantial, but a green day nonetheless. A solid green day, just over $3,000 on ADSK. Now I didn’t take a trade on Monday, I didn’t take a trade on Tuesday. It’s been some rather slow action for large caps, really not much to choose from. And I just tend to sit tight when that happens because I just really like to wait for the obvious, easy money to be put in front of me and that’s where I’ll become aggressive. Now this morning on ADSK we actually had a pretty decent setup on this and I was looking for a big continuation move. And I tried to get it and I got a little bit out of it, got stopped out on about half of the position, but we were able to lock up a decent trade, actually two trades on this that we’ll talk about. So, decent green day, just over $3,200 on ADSK. Now what we had on this this morning was as strong gap down. We were breaking a pretty significant trend line here, a rather short term, but it was well established in that it started down over here from this last relative low pivot. All right, this last relative low pivot, which also correlated with this macro pivot in through here around $120 that’s been a big level on this stock. So I use this as my initial anchor point and use this recent consolidation in through here as my second anchor point. You can see when I extend that line out we get a nice following of the trend over the last several session. So we knew this line was well established, it was important. If we broke that we’d probably see lower. And then we start to get into this pocket here, which goes from $137.50s down towards the macro pivot of $120. Now the reason I use this a pivot here is because I looked closely on this and you can see there’s a bunch of price action in here that was telling me that this was a decent level in the past. You could see all these days that you ran into this level. And once you were able to confirm above it and go, it really made a nice move. So usually I don’t get this micro on a stock, but the fact that we had all these days that were hitting up against this level here I wanted to be aware of it at least. So basically $137.50s down to $120, that was what I was looking for. Now coming into the open we started to setup really nicely. We had a little bit of a pre-market low that I was kind of keeping an eye on and through this $132 level, somewhere in through right there. And what I wanted to see is a move below that before I started to get short. Because you obviously had a base in through here and that was something that you got to be careful of because those tend to catch support every once in a while. When they do, they like to run. But I like to wait until they break the low and hold the low before I start to take a trade. So if you look at the fast time frame on this you’ll see that at the open we had an initial move up, a relief move, which is okay. That’s what we want to see because that tells us that the stock is weak, if it fails its initial move up, starts to turn over. These sometimes work out to be some of the best continuation trades because it’s telling you right away that the move is really weak to that one side, and it’s likely going to pick up to the other. So what I liked on this, again, was that failed move up. We started to break below VWAP. We got below that pre-market low zone. And this candle right here was really important, it’s a rather tight range candle. But once we started to resolve out of that, right down through the low right there, $137.40s and 50s, I started to get short. And I got filled at $131.30s, 40s. I think I got filled some in $131.20s too, but kind of all over the place. Had a little bit of a spread on it. Then we got a nice move right away down to $130. So a good point and a half right away, covered in through that move. A little bit of a relief move here, turned back over, broke down through $130. And then it reclaimed $130 really quickly and that’s something I want to spend a moment on here as to how to identify these important technical signals that will ultimately help you determine whether or not the trend is still in effect or if the move has actually been exhausted. So what I typically do on a situation like this is that if I see a stock that breaks a level and reclaims it right away, right there I’m on high alert. So if I see this happen, we break, we reclaim it right away, now I’m on high alert. I’m going to watch this really closely, because if it makes a higher low I’m likely to stop out of this, and that’s exactly what happened here. We pulled back. I gave it a chance to break again, it didn’t, it made a higher low, and as we started to come back up through $130.70 is where I stopped out because the price action was essentially showing you that the trend had been exhausted, since we reclaimed that level so quick. So whenever you see that happen, if you see the price action move through a level, reclaim really quickly, right there you should be on high alert. The next step is that if it makes a higher low, in the case of a short sided trade, if it makes a higher low you really want to be exiting your trade or trimming a substantial part of it. From there it made a run up and then I was stopped out of the balance of that trade. And then we came over a little bit later in the morning and I saw that his move right here, that we didn’t break the highs. Notice we came up here, we didn’t break the highs, we were rolling back over. And I wanted to keep this on watch because if you broke back below this $132 level I could see it getting back towards the low again, which there’s a trade to be had right there. So what I did is as it started to break down through this level here, I got short at $132.20s, $132.30s, and I looked for a move lower. Now what happened was is you got a little bit of a retracement here, but I’m okay with this because it was still in trend, it was still making a lower high. It was only about .70 away from my average, which is okay. I had a much smaller position here, this is much later in the morning and I was just waiting to see if we could get something started, and if so I would add to it. So making the lower high here, started to come back in, break below, had a little bit of a move here right, and I covered some in through this level, about half as we came down through this $130, $140 level. Got a nice little bit of a move there towards $131. But then what happened was is we bounced off $131, and look what happened again. We bounce up, we make a higher low, we start to trend back higher, and I got out again. I got out. Then from there the stock ended up making a pretty substantial move higher throughout the rest of the day. So, again, we had to fight for some price action in through here to be in our favor. It definitely was not the cleanest move by any means, but we had to fight it out a little bit to try to get some profit out of today. But that’s okay. It’s still that time of year where it’s a little bit slower. You can’t expect as much volume and volatility, and that’s just something you have to work around. So decent trade today. We’re coming towards the end of the month here and just a couple more trades will put us nicely in the green. Anyway, good trade today guys. We’ll be back at it first thing tomorrow. Hey everyone. Thanks for watching the videos. I’ll continue to make sure that all of the watch list, as well as the recaps are available to all of you. Make sure you subscribe to keep up to date on what’s hot and what’s not in the market. The post Back in Action! +$3.2K on $ADSK | Mike’s Trade Recap appeared first on Warrior Trading.
29 Aug 2019