Day Trading Watch List for MONDAY 🎯 Feb 10th transcript

in today's episode I'm going to share with you my watch list for Monday morning and my game plan for the week ahead and this is what I'm going to do I'm going to lay it all out and make this as clear and as simple as possible here let's jump onto the Whiteboard for a second so this is the goal obviously we're focusing on day trading and I have a a profit goal profit Target goal for this week this is the second week of February of guess what $100,000 now that's a lot of money I know but here's the deal I've been averaging $20,000 per day and I don't think it's unreasonable times 5 for me to come up at $100,000 this week so now what's the path to getting there this is the number now for you you might have a goal for the week of $11,000 it might be a fraction of my goal but the path to getting there can still be more or less the same what we have to do first is we have to focus on the type of stocks we're going to trade where we're going to get in and where we're going to get out and we have to at at at all costs manage our risk and cut our losses as quick L as possible now in my episode last Sunday I broke down for you the profile of the type of stocks I had made the most money on in January and I said if I see these types of stocks you know Monday morning Tuesday Morning on my scanners I'm going to be aggressive and then I followed through with that and you know what last week ended up being the best week of the entire year for me so here's the thing with gaining momentum once you start to build up some momentum you build confidence you feel like wow we keep seeing these backtack huge moves I would be an idiot not to trade them with bigger size and so what I kind of noticed in my own trading is that you know I'll have these periods of sort of e and flow where when the market is um you know and the Market's really cold what essentially happens is you know my p&l has kind of been on a nice upstretched you know I've got some good confidence and uhoh take a big loss right so the market kind of has a correction and after that big loss I have a loss of confidence so now I'm going to kind of be a little bit more cautious as I'm slowly rebuilding my account but then once I've got some good momentum right I start to take more risk until inevitably boom Another drop so right now I don't know you know where I am exactly in this I mean I'm certainly in somewhere in this area I know that this is a risk that I could catch a big drop at some point but I don't know if you know I'm right here and we still have a couple months left of huge profit before the drop or you know if I'm right at the top so each day on the one hand I have to come in thinking about risk I got to keep my risk in check I've got to make sure I'm willing to cut my losses quickly if something doesn't sort of pan out the way I expected to but on the other hand knowing that we're in this period with big momentum other Traders are thinking the same thing I'm thinking especially those of us who traded through the 2022 2023 bare Market I think I think we're all like wow the window is open again you know we I I didn't know if I would have six figure days again I mean I I thought I probably would at some point but I knew for me to make $100,000 in one day realistically I need a stock to go up like $10 a share from five to 15 right something like that because you know 10 20,000 share position you're not going to make 100 Grand on 10,000 shares unless it goes up 10 points you capture the whole thing so you need that big rate of change now certainly if you do 100,000 share position you could make 100 Grand in a smaller move but not a lot of Traders are capable of moving in and out of the market with that kind of size and for my strategy generally being pretty quick to jump in and jump out I don't go that heavy so for me with smaller size I do need a bigger move all right so in 2022 2023 we weren't seeing those moves but we are seeing them now so this is when it's like all right we're seeing them I got step up to the plate I've got to be aggressive so if we jump on to the screen share here you can see my calendar for last week I finished with a remarkable $181,000 of profit I I'm kind of honestly blown away this is this is the best start to a month I've had in quite a quite a long time I don't know the last time I had a start that that was this strong so now I'm at $181,000 on the week and to be honest I mean none of these days were record-breaking days I didn't have a sixf fig day um but I maintained a really solid average right I mean gosh was really solid average so you $180,000 divide by five I was just every single day trading really well the worst day was1 18,000 now if we look back at the month of January January I finished at $47,000 of profit uh and my best month was $165,000 here and then the next best one was 122 but what this also tells us is that the last three weeks have been really strong now I have observed in the comments some people saying man I'm a little confused because I'm not seeing that I'm not feeling like we are in a hot market right now it's been really choppy and so my first question for you is what time of day are you trading so let's look at my metrics and get a sense of when I'm trading all right so we're on the calendar view right now I'm just going to go um year to date so we'll just do year to date here and let's look at the time of day where I'm making the most all right so currently sitting at $584,000 on the year which is fantastic average winners 1,800 bucks average losers 800 that's a great profit to loss ratio accuracy 74% almost 75 3 minute long winners 2 minute long losers cutting the losers quickly all right that's all good so let's look at time of day all right so the stock I made the most on so far is Al that's yeah that was familiar q&m and CDT those were both La this last week days and times so Monday Tuesday Wednesday Thursday Friday right when yeah not nice but look at the time of day all right so time of day here will go by 30 minute window and you can see that I start well I sit down usually at 6:45 so I have a few trades between 6:30 and 7 but most of my trades actually right now are between 7 well they're between 700 and 10: basically this half hour window goes till 10:00 a.m. so from 9:30 to 10: and then after 10:00 a.m.

I am actually I actually have losses right now now that'll probably change as the year goes on um but that's where we sit right now so if you're someone who is sitting down at 9:30 potentially or 9:45 then you're sitting down to the very end of the window where I've already booked my profit I'm already up $3 $40,000 on the day and you're just sitting down so you're kind of missing you know a big chunk of this window here where we're seeing some really good action now I I recently this week I had a high school student who is shadowing me the um the local high school has a program where uh you know the kids all go out to a local business uh something they want to learn about and so they asked if I wanted to participate and I said I would and so I had a high school student here and he was sitting next to me while I was trading on Monday and he was asking me all these questions and as we were um kind of going over the trades and and looking at the calendar uh he said you know it' been like maybe an hour and it was like 10:30 11 and he said Ross you know has the market like you haven't taken any trade trades in the last hour has the market really cooled off that much or is it because we just weren't paying attention and I said well you know to be honest it it kind of has cooled off because here's the deal for the strategy that I trade what are we looking for volatility what creates volatility typically breaking news so we get breaking news when does Breaking News come out for the most part it comes out pre-market and after hours now I could trade starting at you know 3:30 3:45 for possible news at 400 p.m. 5:00 P p.m.

Etc and some people do if that works for your time zone now that doesn't work really well for me just scheduled time a day stuff like that I'm choosing not to trade then it's not because I can't it's because it just doesn't fit with my schedule and lifestyle which is fine one of the nice things about trading is that you you know you you make enough money in a couple hours you can be off for the rest of the day look I understand there's some people that are like I'm just going to make as much as possible I'll sit at my computer for 18 hours a day 16 hours a day whatever and then at night time I'll trade Forex or cryptocurrency or something but that's not that's not me so so so the answer is that after 9:30 what's happening is the market is responding to the stocks that did have news pre-market now this week we did have some really nice follow through at the open and in fact we did uh towards the end of last week as well and I think that is related to the fact that there's a lot of Traders out there who don't even know how to trade pre-market and so they're just like I don't I've seen it in the comments you know they're just like I don't know I mean first of all they start the comment with Ross I have to say your style on point impeccable fantastic the beard awesome your hair incredible with that said and I always appreciate that because it's like I'm going to give you a little compliment then I'm going to ask you a question um and so then the question is uh Ross how do I take a trade pre-market or how are you trading before the 9:30 opening bell and I I say well guys I do have an episode you could check out here on you Youtube about um prear Market versus extended hours trading but yes you can trade pre-market you have to change your time and force and that's it so anyways I think that we the fact that we're seeing momentum at 9:30 tells me that maybe there's a lot of newer Traders coming into the market right now who just don't know that you can trade before the 9:30 opening bell so coming into 9:30 whatever is hot they're just like oh you know Robin Hood app is saying the stock is up this much I'm just going to jump on it and see if I can make some money which is fine um and we're getting some continuation at 9:30 but uh but the real moves I mean you can see look 9:30 is not been bad 9:30 to 10 it's been better than 9 to 9:30 so you know but then after that it it kind of tapers down so so that's my first question is what time of day are you trading because I've noticed some of the traders who have had a tough week in the last week didn't start until 9:30 so they maybe got a little bit of action here but then kind of immediately went into like the choppy Zone all right now let's also um let's take a look at the stocks that I've made the most on just this past week so q&m CDT CJ mbb CP Lio so what I want to do here um I'll just move this to the side for a second and let's just pull up each of these stocks so CDT what kind of company is this biotech all right so we're going to just start a little table here biotech oops so we've got one on biotech all right so next one q&m q&m was the stock I made the most on biotech all right there we go two biotech all right what was the next one um CJ MB cjm is a uh recent IPO so this is not a biotech stock but a recent IPO and recent IPOs um can give us some nice momentum So that's its own Catalyst recent IPO now if we got into a a theme we could see 10 recent IPOs that I made a lot of money on sometimes that'll happen you have one that makes a big move and then 10 others make big moves so just to play that out is that going to happen in the weeks ahead well let's jump back on to uh the chart and look at CJ MB so if we look at the chart on it you could see that although it did make a big move it retraced the move so that kind of negates the strength uh that it had and I think Traders are not going to be as inclined to jump on another recent IPO so next one cpix so cpix pharmaceutical company all right guys we got a theme Here number three all right number four let's see what's what's next lipo lipo pharmaceutical company number four all right next one down these are the stocks I made the most money on bcx take a guess Therapeutics number five so five out of the top six stocks I traded were biotech so some Traders were saying Russ how did you know to be so aggressive on CDT yesterday when the news came out I saw it was a biotech stock I saw as a pharmaceutical company with news at the top of the hour with a float of under a million shares which there's only so many stocks with floats that low and when I when I see that in a market like this I'm going to be aggressive now this went from $160 to $4 in like one candle drops back down and then rallies back up to 380 and then comes back down to 234 I almost thought right here that if we broke through four we were going to go into a parabolic uh short squeeze we didn't pull away but nonetheless I had 144 million shares of volume and I was probably one of the first people to see the stock that to see it as it popped up because of this the tools I'm using right here so in fact every single one of you guys who are members at Warrior trading had an equal opportunity to see this stock at the same exact moment as me because we're using I'm using the same tool so I don't have any advantage I see the ex the stock at the exact same moment the only Advantage I have is the intuition of all the years of experience so I know how to use the tool very well but we have the same information in front of us so I'm going to put a link at the uh top of the comments I'll pin it and I'll put it in the description where you guys can do a twoe trial it's 20 bucks and if you don't get $20 worth of Education over the two weeks then I have completely failed so I encourage you to spend $20 to do a twoe trial you'll get two weeks of Market data on our on our scanners right here so when a stock hits the scanner you'll see it in real time all right you'll also get um the charts the news feed everything you're seeing right here plus you'll get my uh live broadcast so you can listen to me giving my market commentary now my broadcast is not intended for you to use to just blindly follow me on trades I don't encourage people to do that and I'm always very transparent about that by the time you hear that I'm in I'm already in the position and we're all here to make money right so if you're just following me you're you're always going to be in behind me that's not a recipe for success I would rather teach you how to use this tool so you can trade the same stock if you choose to but you understand why you're getting in and you're managing your risk on your own so when CDT first hit my scanner it would have hit right basically here it's not loading right now it's we're in uh you know weekend time so it's um I'm just not able to load at all but anyways so CDT would have hit the scanner basically right here all of a sudden hits the scan scanner and the first thing I I don't know that CDT is a tech stock when it first hits the scanner I I don't really recall or I'm not that familiar with a company I'm like oh that's a tech stock so I have to click on it I click on it immediately I see pharmaceutical I see it's got news and then what am I doing next I'm pulling up my level two window and I'm pressing my hotkey to buy it's that quick um now I I'll tell you that this can be a little bit of a characteristic of a really hot Market that Traders um jump first and ask questions later and you know I I'm no exception to that right so I see it moving and I'm like if I don't get in this thing I might end up missing this sort of big monster green candle and then it if it goes too high I just couldn't Chase it so if it's starting to pull away I I may be inclined to say you know what I'm going to take a starter here and if immediately I'm up 50 cents a share I'll either well conservatively you could just take profit but me being aggressive I'll double my position CU now I know this actually is working and other Traders are seeing it and it's going to probably keep going so that's what I did on CDT now my starter position might be bigger than yours but nonetheless it's just a starter position and does this continue to work so the biggest risk with um you know with jumping in a stock that first hits a scanner is you know it's already popped up a little bit and and maybe it dips for just a second you buy right here and then immediately it just does like this nose dive and this is a risk that's high when a stock has lighter volume because you you may have no problem buying if there's a a big seller unloading a position up here but then so you can buy their shares because they're selling but unless there's a buyer also interested in accumulating a position when you turn around to sell you may get a lot of slippage on your exit so when you've got lighter volume you don't have as much liquidity you can get more slippage which can create more risk and so there's definitely more risk in trading the stocks that have lower or lighter volume and to be honest cgt was not I mean although it was a profitable trade it wasn't the very best trade because of the fact that it kind of just went like you know $160 to $4 and then didn't really give us a nice proper pullback so if we looked at the stock that I made the most money on so far this month we changed this view from week to um to the last 30 days here what you would notice is that uh it was Al where is the instrument so was the biggest winner $47,000 which is good I mean again it's not like I'm going to retire on that but it's you know these are good trades so alur let's look at that chart for one second this was a stock that um was actually a lot what let see how far back was it right so this is a stock that actually gave us a much bigger move now it was intraday it was pre-market um let's see it might be um let me see if I could pull up this this trade over here so yeah I've got one trade on it here but this will this will show me the the chart sort of zoomed in um so do you see how this kind of makes a move pulls back second leg up pulls back third leg up pulls back fourth leg up and then unfortunately they did an offering right at 930 which was very disappointing but which was also not good for people who sat down right at 9:30 but nonetheless this gave us sort of multiple opportunities to trade it and that's why I was able to do so well on it because I just kept trading it um you know when a stock just goes up 100 100% in one candle it's nice you ride that momentum but but it's it's now so extended that shorts are like oh this is probably going to reverse and then the question is what's the real quality of the news because Traders were quick to jump in it but do we really understand the headline that happened a little bit on reborn coffee on Friday where they announc his financing commitments of up to 60 million and the stock starts to pop up and you know it's kind of like well wait financing commitments is this good news or bad news so Traders sort of jumped on it and then you had that actual sort of reversal that no actually this isn't as good of news as people thought sometimes that happens even with the S&P 500 um when you know there's economic news that the market will sort of Swing one way and then goes back the other way I think it's sometimes you know Traders just see it starting to inch one way just a teeny bit and then jump on it real quick and then you know bigger money comes in and sends it the the the actual way it's going to go so all right I think at this point you've got a good sense that my watch list for Monday is biotech Pharma stock now I mean this is my preference it's possible that our number one leading Gainer will not fall within that profile it's possible but this is where I've been making the most money so if our leading Gainer on Monday is a stock that is an energy company or it's a bank or something like that I'm already going to be like it's probably not going to be a home run for me maybe I'll get some base hits on it and who knows I could do okay on it but it's probably not something I should get super aggressive on right now most likely so biotech pharmaceutical company so that's um that's kind of number one number two um let's talk about price for a second what price am I doing the best on we had tnxp on Friday that made a big move but I was was a little hesitant on it and I didn't end up trading it at all it ends up making this you know nice move from 12 to 18 yes it retraces it but that's volatility there's opportunity to make money in this type of move and I didn't trade it I just felt like it was a little too expensive so if we jump back here we'll just clear this out and we'll go back to year to dat so year to dat detailed uh let's look at the price okay so the price stocks I've been making the most on have actually been between two and 5 and then between 5 and 10 a little less and between 10 and 20 a little less and here's the thing well I do have a higher distribution of trades in this area so that tells us that there have just been more stocks in that price range that I've traded um but I can also take bigger size bigger share size $100,000 you know at $2 a share is a lot more shares than $100,000 of a stock at $10 right so all of a sudden if it goes up 3040 cents 3040 cents a share with 40,000 shares 16,000 bucks you know these are big moves 40 cents with 10,000 shares is 4,000 so all of a sudden you know the moves can be bigger or the The Profit can be bigger the percentages are bigger when you're in the lower price range so I get a little bit more aggressive and I also usually feel more confident um keeping my stops a little bit uh tighter because usually when they're a little cheaper the usually the liquidity is a little bit better when they're cheaper and then as they get more expensive you start getting into bigger spreads and you can get a lot of slippage so price I mean preferably you know is going to be between three and three and five when it first hits my scanners or I guess that says two and five but nonetheless you know kind of in that range um number three no question really at this point a stock should be up at least 30% if not higher but it should be um in the the top three you know gainers on the day percentage gainers generally speaking number four relative volume times five uh number five news which is what creates that relative volume number six float um under 10 million shares right so if I and and obviously it's better if it's under a million shares or if it the lower is better so you know let's just say on Monday we see a stock that hits the scanner at 8 am and it's $312 uh it's or it's $312 it is a biotech stock so check there it's already up 30 40 50% it's got volume spiking in and the stock doesn't usually have volume right now and there is news check check and the float is low what am I going to do so what's that stock going to look like first of all it's most likely going to look like a big green candle like this on the one minute chart so that's a one minute candle so we get a big green candle like that and what might happen is it does a little top and then the next candle opens and it just pushes even higher like that another one minute candle let's zoom into this area right here so these are one minute candles so if we did um 10sec candles well I'll just do it kind of like this so one two 3 4 and then five six so six 10sec candles in 1 minute right it creates the topping tail so that was the bottom that's the top of the topping tail and then that little pullback I'm in right here right and then this is the next candle going up so that's a micro pullback right there now you may not be able to see it on the one minute time frame but it is what happened it's why you have a topping tail it dipped down and then it goes higher so then where are we seeing this the level two so on the level two we've got the bid we've got the offer so let's say it goes up to you know a high it it started at $3 you know three by 310 maybe the spreads were a little bit big it all of a sudden rips up to 340 then it's at 370 right 375 390 hits $4 so it Taps four and then the bid is at 385 a couple people sell it dips back down the offer drops back down to you know 3 385 the bid goes down to 378 you've got like seven set spread so now we know what was our high four our high was four right here so we di down here for a moment and as we're watching the time and sales the time and sales showing every transaction that goes through what we would have seen initially was a lot of green here a lot of buying and then we saw a little bit of selling and what I usually look for is for that selling to pause so it dips down for just a moment and at that point you know who knows another 20,000 share seller could go through but once the selling stops I think okay the people who have taken profit have taken profit the selling has paused what's going to happen most likely this is where buyers are going to come in and what I usually look for is that first green order because then that tells me someone's else is like all right here we go now sometimes I'll buy even if there isn't that first green order if this maybe comes down to a critical level like you know 350 psychological support and the stock does meet all my criteria maybe I'll be the one who says you know what I'm going to take I'm going to take a a some risk on this and I'm going to try it here at 350 or 360 um with a stop just below that 10 15 cents and then we would see is this going to keep going higher so you know the the thesis on this is that this is a stock that fits the profile of the type of stocks have given us the biggest moves recently and I'm right now possibly one of the first people to see it because I have a tool that is scanning in real time for breaking news and for stocks experiencing volatility spikes and I'm jumping in early and as this continues going higher people who are using less sophisticated tools are going to see it and they're going to buy it because they're thinking this is you know the next big biotech stock and I get to ride that momentum so you know this all sort of generally requires a good Catalyst it's true that this week there were a couple of trades that I took like on q&m where it was a continuation setup and with a continuation setup you're sort of banking that uh people who are maybe swing trading this to the short side thinking it was going to roll over and do a round trip maybe even on day one right this would have its first pop kind of rolls over but then into the close rallies back up next day uhoh if you're still short now you're getting a squeeze then shorts ADD thinking it's going to fade and then uh-oh light volume creep the next day and boom boom boom boom now it's starting to pull away so that's the Catalyst there is not as much news-based it's more that you're expecting shorts to cover it's a continuation setup it can work uh in a hot Market but is inherently a little bit riskier and as the price gets a little higher that carries more risk as well so I was able to trade it and make some money on it but not the absolute easiest so my watch list for Monday uh is actually not this week going to be uh specific stocks that I'm really dialed in on yes we do we could look at our um after hours top Gainer scanner and we could look at our continuation scanner and sort of say well these are stocks that have been strong in the recent trading sessions and this is all true but we're in a market right now where Traders are pretty quick to jump on the next stock and so my thought is that we're probably not going to see great follow through with with any of these unless they have fresh news so so rather than spend a lot of time kind of going over stocks that might work I think I'd rather um just sit down bright and early 7:00 a.m.

Monday morning and watch what's actually starting to move so that's my game plan and I hope you guys check out the twoe trial again the Link's in the description so you can check that out and I will see you I'll be live streaming 7:00 a.m. bright and early on Monday morning thank you guys as always for tuning in reminder trading is risky my results aren't typical so please manage your risk take it slow and practice these new strategies you're learning in a safe simulated environment before you put real money on the line if you want to check out my episode on how to set up hot keys in your trading or how to trade pre-market those will be right here okay I'll see you guys soon