Tax Free IRA Money! +$3K | Ross' Trade Recap transcript

what's up everyone alright so here we are seventh green day in a row up three thousand dollars again well today I'm actually up three thousand eight hundred but three thousand in my IRA account which is the one I'm really focused on and then eight hundred taking a short in my center point accountant so that was like a little bit of profit but the IRA is what I'm really focused on because tax free the profits are tax free and the withdrawals are tax-free that's the advantage of using a Roth IRA if you haven't already checked it out I've got a whole video where I talk about how to set up a Roth IRA how to make the contributions etc etc so make sure you check out that video maybe we'll drop a link below for it so anyways vii green day in a row a little bit of a hot streak here about $23,000 in the last seven days and now I'm about 17,000 dollars away from crossing that big finish line the million dollar mark in the small account challenge so you know I started this challenge over two years ago feels like I've been doing like a master's degree cuz it's just this big long marathon and I'm getting so close to the end so I'm thinking alright well if I'm doing three thousand dollars a day it's about six more days you know that puts me something I'm next week maybe fingers crossed we'll see so getting really close to that spot today you know a solid day no home runs but a couple decent trades a few decent opportunities that I sort of missed but we're still seeing some really good action in the market so this is a time I think to continue to be aggressive now for those of you guys have been wondering how I find these stocks how I manage my risk register for our workshop tonight 7:00 p.m.

Eastern it's gonna be a lot of fun alright so we'll put the link down below for you to register to that as well alright and as usual any questions any comments leave them below let me know how you guys did today did you make some money you know which trade I'll answer in the comments later this afternoon All Right see you guys first thing tomorrow morning all right everyone so we're gonna do our midday market recap core the trades from this morning today's gonna be the seventh green day in a row finishing up three thousand thirty three dollars in my IRA account as it gets up towards a hundred and twenty-five thousand dollars start the account this year with twenty nine thousand dollars in it so making some really nice progress here around three hundred percent growth you know it's just gonna be kind of this project for this year to grow the account as much as I can also took some trades or one trade in Centrepointe a short on our geo 331 dollars so between Centrepointe and my main account I'm up $3,800 which is great you know another really solid day three thousand dollar days are a good way to keep a 9 to 5 job away so let's see you learn right this in my calendar here so plus 3.8 k 46 Green Day so over forty sixth day of 2019 so I now have this year forty Green Day's and only six red days which is great to end your question I don't know why my buying power is a little less than my equity I've kind of noticed this happening each day it's like it's like this and I'm not really sure why that is I don't know it's a good question it hasn't really been like that much of an issue it's only a little bit less so I don't know if it's something with Lightspeed or if they're no I don't I mean I'm all closed out all the trades are closed no open orders so yeah I'm not sure what that's about it must be just something that they're doing with the way they clear my trades at Lightspeed but that's okay it hasn't really been an issue so yeah so anyways let's start by looking at our watch list from this morning so this morning and you know these trades my big winner opt T was straight off our pre market watch list alright so this is our watch list this morning Oh geo was the leading gapper and I was watching this one initially to the long side I mean the only problem was that by the time the bell was ringing it had already dropped down quite a bit so this one had a nice long ascending wedge here from yesterday into this morning but it broke at pre-market from 12:15 all the way up to a high of sixteen dollars and fifteen sixteen dollars and fifty cents so a really big break out there and but by the time the bell was ringing it had already sold off most of those gains and then it sold off right out of the gates I took a short on it on the one-minute chart right here for a Bear Flag breakdown so this was a Bear Flag and I shorted it at let's see where it was my short twelve dollars and thirty one cents and covered at eleven ninety twelve and the rest of twelve thirty it dropped down here to a low of 11 56 but then it popped right back up to 1240 so I was like well I don't know maybe it's I don't know maybe it's gonna go higher so anyways sold the rest of it and I recovered the rest of it breakeven basically but still net a hundred dollars on only three thousand shares which is nice you know I mean I didn't take a huge size on it I did reserve six thousand but I only took three thousand because I was like I'm not totally sure on this setup and you know was able to get a quick eight hundred thirty one dollars and sixteen cents so that's nice this is not going to contribute to the $583 to a million dollar challenge this account isn't included so this is just kind of like you know a little bit of profit on the side which is fine but nothing you know not that big of a deal so I'm gonna mark down today officially as being only three thousand dollars of profit towards the $583 two million dollar challenge you know just to kind of keep things simple I don't want to have a deal with like a new brokerage account at the very end of the challenge because it's just like you know one more thing to have to deal with with you know going through and you know auditing all of my profits and everything else so just keeping a simple finishing up the challenge with Lightspeed so I'd like to be today opt T this was a reverse split stock so reverse split today taking effect and this was our pre market chart high of $8 with a little pivot here around kind of like 750 the bell rings and it takes off I tried to jump in this I was like this looks awesome I mean I wish I could have bought nine thousand shares of this with an average of eight dollars because the bell rang and it squeezed right up to a high of 950 so you know just like that I could have made like twelve thousand dollars on this trade but I only filled eighteen hundred shares so I ended up not selling them I was like well whatever I'm just gonna hold them and let's see if I can find a place to get get back in but then it came all the way back down and so I sold it for like a $300 profit it dropped down as you can see here to a low of 755 almost going red on the day and then it started to curl back up the first five minute candle to make a new high or the one minute kill to make a new high right here was 843 and I started adding back in 828 849 to scalp the break over nine nine dollars add it again 890 we got a high in the nines but it didn't really work super well trying to take another trade there at nine but that didn't work very well either so we hit a high of 921 but right in there I was able to make $4,000 getting in you know 828-850 and selling up at 890 and nine dollars so that was the cleanest trade of the day and then on the five minutes been pulling back really since that not like super strongly but just sort of fading so that was opt T the BP th this morning had a secondary offering announced pre market it dropped from forty two dollars to twenty eight and popped back up to thirty eight now on this one I did take one trade this morning I took 500 shares long at 37 and added at thirty seven fifty I was thinking if this thing's gonna make a big move like yesterday I'll give it a stab but it dropped back down so I lost 75 cents on a thousand shares so down seven hundred forty dollars but I was okay with that because at that point I was already up four grand on the day and I was like you know this is an okay trade to take a stab on so that was B P th no other traits on it al QA this one was off the hide a momentum scanner jumped in that with 9,000 shares right here at 41 it hit a high of 54 and then dropped back down here as you can see and so it took a $900 loss on that so at that point I'd had two losses in a row BB th and al QA so I'd give it back about $1,600 of profit the next trade I took was on VV PR v v PR I jumped in to actually you know I've got a decent entry on it getting in down here at 40 right around I got in at 41 as soon as I hit the high today momentum scanner I jumped in it right around the dollar 45 or something like that let's see where's the trade so V V P are 35 45 right there but then I ended up selling it at 46 and 51 because it kind of didn't really give us a big move you know and then I hit 69 and dropped back down so I got back out it comes back up here I've got back in which was right here and then stopped out right here for a $600 loss so I went from up to huh two down 400 on the train then I got back in this as it started to curl back up you can see here it broke over 65 maybe this move up to $2 so I got back in and made back about $600 so I don't know two winners a loser not really you know the easiest type of you know trade but whatever so only up $200 on that and that was where I called it a day so you know a Green Day $3,800 definitely not the easiest day a little choppy but you know a Green Day nonetheless so I'll be happy with that right now it puts me about 17,000 dollars away from the million dollar line in the sand that I've got here for this small account challenge it's not really a small account anymore but in any case so seventeen thousand four hundred fifty three dollars away from the million dollar line in the sand a hundred and forty-seven thousand dollars so far this year so I've got three hundred fifty two thousand dollars between me and the five hundred thousand dollar annual goal which means I need to average about $1,900 a day every day for the rest of the year every training day and that's good because so far in 2019 I've been averaging $3,200 per day so even if my average goes down to only 1900 a day I'll still cross over the half-million dollar mark so and you know that for me is a good annual goal I mean it's terrifical of course if I continue at the daily average right now let's see I've got about a hundred and eighty four days left in 2019 so one hundred eighty four times three thousand would be five fifty two plus the hundred and forty-seven thousand that I have right now would be seven hundred thousand so you know I mean it all comes down to the averages but realistically this month has been a little below average things to starting with a red day but now I've got six days in a row or seven green days in a row and in the last seven days let's see how much one I made in the last seven days I've made about twenty-two yeah about $23,000 so that's you know that's really that's a good seven days no doubt about it so you know just gotta kind of keep the pedal to the metal keep trading aggressively as long as we have good conditions to do that in Whitby pth being so strong and sympathy momentum yesterday on our geo and opt T today it's definitely a time to be a little bit more aggressive I didn't take any twelve or fifteen thousand share positions today opt T didn't have quite enough volume for me to trust that type of size it could have happened but it didn't give me that opportunity o rgo didn't give me an opportunity to the long side even if it had it was a little too expensive you know I'm somewhat limited on buying power you know 122,000 I can I can trade pretty much the way I want to with nine to twelve thousand shares but you know some of these stocks as they get more expensive become a little bit more difficult to be aggressive so yeah but anyway so some profit here in the IRA some profit in Center Point which is good so green and in both of these accounts here today and of course we back at first thing tomorrow morning 9:15 pre market analysis and see if we can you know have another three thousand dollar green day again reminder tonight 7:00 p.m.

Eastern I'm hosting a free workshop so those of you guys that aren't doing anything this evening you're welcome to join me and I'm sure we'll have a really great turnout remember the first thousand people that that attend the workshop will be in you know listen mode and you can also type anyone that comes in after the first thousand is in listen-only mode so yeah listen-only mode means you can't type and ask me any questions so if you want to be able to ask questions make sure you show up a little early so maybe get there around 6:45 alright so that's it for me I've got a couple mentor sessions with students this afternoon one-on-one sessions and I'm gonna get ready for the workshop tonight and I'll see you guys later today alright see you guys later if you're still watching you must have 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