Day Trading in the 8am - 10am Profit Window transcript

all right everyone so in today's episode I'm going to give you guys a standard recap we're going to go over the trades from today I'm going to break down my entries my exits how I chose the stocks I ended up focusing on I did not double my daily goal today I hit my daily goal which is great so it's a nice Green Day I didn't double the goal I had said this month that every time I double my daily goal I'll teach a long class uh focused on some aspect of my trading for that day so in yesterday's class I taught about how to start your own business as a Trader and then in uh the class the day before I taught about scalping during the 30 minute uh sort of profit window when the macd crosses over at the beginning of the move focusing on trading the front side of the move as aggressively as possible and not overstaying your welcome and trading on the back side so today is going to be a little bit of a departure from those two classes of the previous two Recaps and more of the traditional breaking down the trades from today and and you know kind of uh going over what I actually was focusing on on each individual trade okay so here's the day sitting at $7,295 in profit and some of you guys may be wondering Ross where are you sitting versus your 100K goal for the month of July I have surpassed it I will hold you in suspense telling you how much I am up on the month uh but I have surpassed it and I have set a new goal and right now let's see how many days do we have left for the month of July we've got tomorrow Friday which has the potential to be a wildcard Friday that's always a hope and a prayer on a week like this where we've had big momentum today was a little slow tomorrow let's see could be a surprise could be a bust but I'm looking forward to it and then we've got uh three days next week so that means we've got four days left in the month of July and then we're rolling right into August so a week from today will be August 1st all right so uh this morning my first trade of the day was um Meera and actually by the way yesterday at about 4:00 I was recording my recap um for you guys the my special class yeah bud you can go do that that's just fine so I was recording my special class um and at that time PBM had started to squeeze up now when I first pulled up PBM I was like you know whoa this thing is moving fast but as you guys know I don't usually like trading penny stocks and this was at 55 sense when I first saw it the thing that I have been aware of is that the last few trading sessions we've seen some stocks that have made some big moves after hours sore did it just a couple days ago where we had um right at 4:00 it all of a sudden squeezes up as you could see right here goes from 40 to $150 and so that kind of happened in a similar way on PBM gave us a really nice squeeze uh and then I think some Traders carried it over as a swing trade to today but but since it didn't B uh push higher and make new highs it ended up dropping down profit taking and then selling off pretty hard so I was a little disappoint disappointed I guess that it sold off as hard as it did um and in any case so I I had the opportunity to trade it after hours yesterday but you know typically I I don't trade after hours and I I didn't want to take the risk on it um today or yesterday so so I I knew last night the PBM was gapping up uh already so I would be watching it this morning so this morning around 6:30 645 I pull up the scans on my phone and just try to get kind of a lay of the land what's moving how are things looking and at that time I saw um that you know to be honest yeah we had PBM and we didn't have much else that looked good so PBM at 7: a.m. here you know was kind of right in this range but I just thought it's a little to I don't know there's too many sellers it's thickly traded it's below yesterday's high I want to be trading when something is stair stepping higher and at this point I felt like it was sort of stair stepping back down a little bit coming to maybe a double top at best so I disregarded PBM I said no I don't think it's going to work and then mea pops up M Meera we traded just the other day we had this big green day then two red days and now today looks like a red day as well but right here at about 7 a.m. it started popping up and I took my first trade long at 285 uh 280 sorry no it was uh it was actually 295 um so got in at 295 for the Breakthrough 3 and ended up squeezing all the way up to 380 um I only made 470 bucks on it I took two trades both with small size as I think I had mentioned in my recap yesterday um even though I had an incredible day yesterday and an incredible day the day before today is a brand new day so I'm starting at zero position size Max 5,000 shares until I've got myself over $1,000 in profit so just kind of you know breaking the ice trying to get myself comfortable in the green what is very easy to do is to have a big green day and then the next day you come in like on that high and you swing big and you lose on the first train you're down four grand or something like that and it's like whoa okay things are getting real here I'm already at my Max l in one trade and then next thing you know it's a big red day so I I am mindful of that and want to make sure I avoid that so just starting each day fresh like brand new day clean slate of course I'm aware of the sentiment of the market and I'm hopeful that we'll have another good day but you know I've got to trade the market that's right in front of me so mea gave me um a couple of two trades a little bit of profit 470 bucks and then uh poai comes up and poai uh initially it pops up right here and you'll see it actually popped up to a high of a168 and I got in right as it broke a $150 right there I got in and I added 58 60 and 63 and on this one um I was like okay we've got something moving quickly and it has a headline so I was kind of excited and unfortunately it ended up um just stalling out and dropping back down so on that first trade I I think I made like $100 on it it was a tiny winner but it was nothing really significant and then zvs sorry zva hit the scanners and when I saw zbsa I was like the price and the float are perfect I'm like Perfect Price perfect float oops right here price float and I'm thinking all right here we go this is something we can work with this is 755 and this thing rips up here and I took a starter at 450 and I stopped out at what was it was like 420 so I ended up losing $589 on that and I was like all right uh well that's not great and at that point um I was readed on the day not by a lot but I was read on the day and then uh cmax comes up and we get a trade a little trade on cmax right here on this first uh squeeze where' my mouse go come on Mouse where are you Mouse house there it is um I got a trade right here okay so we got this move to 4450 I got in at 470 uh took profit at 485 490 added back at five um and then let's see there was yeah so let me just zoom in on this one minute chart hey try to be quiet with that okay so uh yeah so we got this move up here traded that pulls back comes back up higher rejects got a couple small trades on that was up 1,600 bucks so I'm like okay you know recouped from Red back into the green and then POI comes back up and starts to uh pull away so when POI a PO AI came back up right here I got back in it got a small little scalp here it then drops down comes back up again I got back in right here and got another trade up to this level it pulls back and then this was actually my probably best trade no sorry um that was my best trade of the day this one was a nice breakout right here uh but unfortunately I missed it so traded uh just the top of that move and then we sort of pull back dip back down and then I got this breakout right here this was really clean and this led to a squeeze into the open however I took a full size on this trade and then I added back full size right here at 51 and I took full size there because I was looking for a squeeze up to 6575 a dip and a move up to 890 maybe $3 at the open and then the open flushed and dropped back down and I gave back about 2,000 off the top so I peaked today at about 8,500 and uh dropped myself back down to 6,000 on the day and then I was able to recoup um some of that on slrx and there was another trade blmc but I'll look at slrx first so slrx um I got a trade on this at the open squeezed up here halted up opened dip and rip right here up to a high of $440 made $1,200 on slrx ends up dropping back down pulling back found all of these stocks right off my scanners these are stocks that were hitting the high day Momo scanner right here or we're on the top Gainer scanner or we're on my running up Scanner so these are all stocks I found on the scanners slrx made a big move the other day as you could see here Meera same thing made a big move the other day so for the most part trading stocks that in the last couple of trading sessions have put in um some really nice big green candles but to be honest I don't love that setup and the problem is that's a continuation setup and are you really going to get continuation on these so when I looked at mea for example I saw that Mera had this news headline and let's just scroll down on this so this is the news headline this morning um announces positive discovery of um kameir 2's selective nmda binding mechanism action so I'm like okay but but part of me was like this feels really similar wait what was the headline back on Monday so I'm going back and I'm looking back and I'm seeing reveals clinical success optimize br wait is this not almost the same exact headline right so I'm kind of like wait are what what do we what do we working with here like is this just rehashing the same headline why are they rehashing the same headline so then I pull up the um I pull up the filings on it and I'm like okay well so do they have are they trying to raise Capital you know do they have warrants out what are the prices of the warrants uh the strike prices so I'm trying to kind of figure out what's going going on here because often times when a company is putting out a very similar variation of the same headline they're trying to create awareness for the company and often times that results in seeing an offering so I was a little bit skeptical there uh so that that was on Mera and that was part of the reason I traded with small size this morning and you know 470 bucks like that breaks the ice that's good but the fact that I was sort of like H I don't know could take it or leave it that alone says you should leave it like that's like if you propose to someone and they're like H sure yeah I guess so like that's not what you want to hear and this is the way I have to sort of think about a stock like if I'm thinking about trading a stock I want to be excited about it I want to feel like this has the potential if I'm sort of like I guess I'll take a position it's not it's like I might as well just not and so I really probably shouldn't have traded mea at all the headline was a little suspect it had this big move but then it pulled back quite a bit and you know I just yeah I wasn't feeling it so anyways I I I traded it anyways which I was partly because the Market's been so hot but it wasn't a clean trade and then for the most part A lot of the stocks I was trading today either didn't have like slrx once again no news on this one we had this huge move the other day where it went up 300 almost no it was yeah it's like 300% then it sells off goes flat and then today it goes from $2 to $4 no news just like a bounce off the low and we will see that from time to time a stock that makes a huge move you can get a nice bounce off the low but don't expect it to go back to the highs that's not likely it happens very rarely so that first candle making new high on the daily that kind of little bounce you know I mean yes we can get something out of that but not a lot now if I pull up my continuation ation scanner here uh a no doubt has the biggest range in the last two weeks um this is the one that went up 700% but they did the offering and they priced it low so the thing that was interesting to me about this offering on a I'll pull this up here in the actual filings um so a this was the one that absolutely crushed it um the day before yesterday and so we get this just crazy big move and then let's see is this going to be it here um so then yeah so sold 6.6 million shares um offering price of $150 each and so a150 honestly they're selling six million shares here's the thing that I don't really get on this type of stock how much volume did this have on that day it had let's see full screen this it looks like close to to 100 million shares so I had um 76 million shares of volume 76 million shares so if they had been selling on the actual Market which they would have had to do through an investment bank but if the Investment Bank had the rights to sell through a direct offering they could have been selling at $4 $5 $6 right selling 500,000 shares each each dollar and a half it goes up they could have sold and raised a lot more money than it a $150 a share a150 a share is a really cheap price for this offering so honestly I just found this to be kind of surprising but I think the issue in this case was that um in order to do a direct offering they have to already have um shelf registration so and they haven't they have to have not tapped it so let's see so S3 and they have to have organized and coordinated this with an investment banker which um and so they have the Shelf registration they just probably hadn't at this with an investment banker that's my guess because a smart investment banker would have been selling these shares during the day now that's what would have been better for the company for Traders like us it's better not to have those six million shares of excess sell orders because that would uh slow down this momentum so we got big momentum they weren't prepared to sell but then the selling came in the next day and the Stock's back at $150 I made them notes you made some notes I love those notes I made them notes all right you make a couple more for me so let's see so a so that one at this point is really out of play we're not going to get anymore I mean well I say this I know these are my fresh markers these are my freshies I don't want uh these ones I'm going to put over here these are for saving you've got your own markers right there those are the ones I already gave you right on the floor he's got my used markers they're like not working so well okay so is it possible you can get a first daily C to make a new high sure but you know realistically this one's kind of dead and it's kind of the company's mismanaging of their offering that has resulted in the price being backed down at a dollar it didn't have to go that low in my opinion but you know and they didn't ask me so whatever anyway so slrx um has not done the offering or a offering but this one just came down and sold off hard well it had no news on the initial move it just went crazy shorts were caught by surprise I guess and then it came back down another little bounce coming back down so these are these bounces are going to get smaller and smaller and smaller until either we get an offering or Traders just stop trading it entirely so that was um so so slrx okay so so after um slrx I got myself into the green and let's see um let me look to see um check something over here yeah so that was a good one [Music] um I'm going to save that for maybe my next episode my next full length class I've got a nice um a really nice clip from a trade but I'm going to save that for the next full length class here um so so yeah in po AI super disappointing coming into the open I was hoping that thing was just going to rip through three and it just stalled out and you know what from the beginning it was tough so the problem with poai is that I ended up trading oh yeah you can use that I ended up trading a lot of shares so my fees and commissions are going to be higher I mean I was jumping in with 10 15 20,000 shares jumping in jumping out jumping in jumping out kept thinking we were going to get a big breakout got a couple of them you know I'm up four grand but realistically that's only 20 cents a share on 20,000 shares so you know it just I kep trying to set myself up for a big trade oh this is good actually because I do need these thank you but you know what I just wasn't able to find much um success with POI who's that who's coming to visit with you so again success is a relative term I mean I'm certainly green it was a nice day but I was I was kind of you know I mean I was a little hopeful that I was going to have a really good day so so this is poi and then um the bell rings and at that point with oi pulling back PBM pulling back kind of our leading gainers weren't holding up so I was like I don't know if I'm going to get more action BLM Z starts to pop and I did get a trade on this here but boy it was tricky and it ended up doing this jack knife um one mention on these Jack knives is that when a stock does that kind of reversal right here at that point it's like no longer trustworthy and if you look at poai you'll see that there were um a number of these kind of drops my computer's running a little hot here POI so we had uh if we look at the one minute chart we really did have a number of them look at this right here right here right here and then look at all these topping Tails it kept popping and dropping popping and dropping popping and dropping this thing was not easy to trade so at that point I was like nope I'm not going back into it I can't trust it this thing's not trustworthy so that was the right move I think to leave it alone it's come back quite a bit [Music] now okay let me see this okay I'm gonna hold this here you why don't you go over there you go you go build something for me and I'll chitchat with you in a little bit oh there you go okay so um yes so this is poai um sorry guys for the distraction today um let's see so slrx uh BL MZ and then what else do I have here oh bblg yeah I got a little trade on bblg this one um just choppy as you can see here pops up re rejects nasty so took the loss on that got in got out quick and and that was it you know at this point we're kind of running out of steam now if I pull up um my uh top relative volume uh right now or top volume in the last five minutes this will show us stocks right now that have the highest relative volume let me link this up here um the only issue is that uh sometimes you get relative volume spikes on something really light volume this is an IPO this is also an IPO but IPOs are I don't really like IPOs usually unless it's really hyped up poai it's got high relative volume in the last five but so it's anything here TR like really trade worthy trustworthy I'm not seeing anything you know I'm just not so yesterday I got myself up 51,000 and then um lost about 9,000 off the top stopped at 42,000 called it a day well actually I was still here but nothing else was tradable and today got myself up 8,000 dipped back down to 6,000 and I'm back up here at 7200 and things have kind of stalled out so I did the best I could but the window is closing I know I see people that are still trading and they're looking at different things but um I just feel like there's a window each day and once that window closes it doesn't matter how much you're up or down the window's kind of closed so now you're getting into a range where continuing to fight is going to be like trying to swim upstream it you're just fighting against the current it's not easy and you really are best off acknowledging that your next best chance of a big winner is probably tomorrow morning it's not going to be this afternoon that's just statistically and I know that from my own experience so at this point um you know I'm I'm pretty content just to say decent day hit the daily goal that's solid pulling up the metrics um for the month of July here now I actually wasn't able I for some reason I wasn't able to import my trades from yesterday which was such a drag because um I really wanted to go over those trades with you but um when I tried to import those trades the tra the file was too big I don't know if I took too many trades but anyways I emailed um support and was asking hey can I import my trade so uh so anyways this has been a really solid month and like I said we've got yesterday's in the books 41,42 today's in the books at 7,000 and we got one two three four more days this month has been I've been holding a pretty good average um you know I haven't hit the daily goal every day I've had some days that have been below it but the days where I've been beating the daily goal I've been like doubling it or quadrupling it I mean it's been I mean this was eight times the daily goal this was way way above the daily goal this was three times a daily goal so right now I do still feel like it's time to be aggressive when something pops up that looks really good and is squeezing and the challenge has been a little bit U you know zbsa why didn't that one go it's got news it's popping up it's the right price it's a Therapeutics company I don't know I don't know you know why did actr go as much as it did I don't know it you know I mean this is always going to be the way it is with trading if you knew you would just you would make money on every trade you take and whatever but um but it's it can be tough so uh if you're someone who's been jumping quickly and you've taken a few losses and I've had some too like I did on zbsa and bblg what I would encourage you to think about are you know like the stocks I've made the most money on POI a sxtc these are stocks that um continue trending higher so they made their first leg up and they just kept going so that's the area where things are getting interesting and that's where we're probably going to see better volume but even this one the volume did kind of taper until you know a little bit at the open but um but anyways focus on what's continuing higher so rather than trying to jump in that first pop and getting stopped out wait for it to pull away and just look for those dips watch the dips off support so if you want to learn more about dip trading I've got a great episode on that that I recently taught so I'll put that up here um for those of you guys that are just finishing this episode and I'll thank you as always for tuning in to these classes I hope you really enjoy them I hope you hit that thumbs up I hope you're subscribe to the channel and I'll see you for the next episode tomorrow and I'll remind you as always that hey my results aren't typical trading is risky so manage your risk and always practice in a simulator before you put real money on the line and I'll see you guys back here bright and early tomorrow morning I'll be streaming for warrior Pro members so I'll see you guys in the morning thanks again for tuning in I'll see you guys tomorrow