+$100,176.35 TODAY Using This SIMPLE Day Trading Strategy transcript

welcome to today's Deep dive into the simplest day training strategy for both beginner intermediate and even experienced Traders now as a beginner Trader what is your goal let's break it down and keep it really simple the goal for most of you is to try to pull profit out of the market on a consistent basis and this is a goal that is very Elusive and very hard to achieve as you probably already know so what I'm going to do in this episode is I'm going to give you a case study of some of my trades from today now today was a particularly exciting day cuz I'm actually up over $100,000 in one day in just 3 hours trading and you know a lot of people might think and assume that in order to make that kind of money I must be some kind of math Wiz maybe I went to some really great business scool I'm using some really complicated technical indicators or highfrequency trading algorithms none of that is the case I attribute a lot of My Success to the fact that I keep it very simple but clearly there's a difference between having a day where you're up $100 having a day where you're up 1,000 having a day where you're up 10K and having a day where you're up over $100,000 like I am this morning now I'll show you my p&l so you can see right here $100,000 17635 and that is real money now I do Recaps every single day whether it's a red day or a green day so you guys who have been tuning in for a while you know that I'm not just showing off a big green day here I put it all on the table for you guys to see but I should probably mention that my results are not typical I have been doing this for a long time I don't know if I introduced myself but my name is Ross Cameron I'm a full-time Trader and I funded my first account in 2001 just after the dot bubble which is when I first got really interested in the market the success that I've had is based on following a very simple strategy and today when I sat down I approached the market the same as any other day so how's a Trader go from $10 a day to 100 to 1,000 to 10,000 to $100,000 in one day you want to know what my goal was when I first started trading my daily goal it was $200 a day that was it $1,000 a week $52,000 a year which means today I just made two years of trading profit of my original goal in about three hours and that's because I've gotten to a place where I've been able to scale up my strategy for you guys many of you you're starting at the very bottom so I want to scale it back down and show you what it looks like sort of on the on the first step the first rung of this ladder so when we talk about daily goals this is the way I break it down for most of our students at Warrior trading I say I want you to focus on base hits of 10 to 20 cents per share per share so that means if you're buying a stock at $7 you're selling it at 710 or 720 that's a base hit trade so let's use 10 uh 10 cents per share as the example so to make $10 a day 10 cents a share that's 100 shares and for all beginner traders in our simulator Warrior trading I encourage you guys to trade with 100 share blocks and you know what I have a student his name is Danny he's got his 100K badge right now and he's putting in his paperwork for his 500k badge and Danny is a student who began trading focusing on really small share size and a daily goal of $10 a day $10 a day that is not a lot of money but he knew something he knew something I taught him which is that he was proving the proof of concept in his strategy he was proving consistency he was building a track record and he was doing it all with the stakes being really low and clearly he's been able to scale that strategy up now I'll say as always his results are not typical as are um as aren't mine I I want to always put that out there because trading is risky but we start with this goal of 100 shares $10 a day and then we start scaling it up so you want to make $100 a day you start trading with ,000 shares you want to make a th000 a day you start making your way up towards 10,000 shares now if you want to make 10,000 or $100,000 a day this isn't about taking one trade with a 100,000 shares or one trade with a million shares now we've got to do something a little different we stay with maybe 10,000 to 20,000 shares uh 10,000 to 20,000 shares but we start increasing the quantity of Trades from one trade a day one trade a day maybe three trades a day to now you're doing you know 10 to 20 trades a day and on day like today for me 25 to 100 trades a day or more and this is how you scale up the strategy I'll tell you for me I learned everything the hard way I didn't learn I I'm selftaught day trader I didn't learn from someone else I didn't have someone that gave me their strategy and I was able to learn it for me I I seem to insist on learning things the hard way and maybe you're the same way I think a lot of us who come into trading are independent thinkers and we want to do it ourselves we want to figure it out ourselves get our hands in there and and we're not as likely to follow the directions of someone else so I I hope that just You by watching this video are taking a step towards learning a strategy that someone else is currently trading because you do not have to reinvent the wheel so as I was going through my journey of of learning how to trade I I kind of made all the mistakes in the book including not trading the right stock so one of the first things I want to do in this episode I want to teach this class as if you're a good friend who's come to me and said Ross I want to figure out how to trade and so at at its core as Traders we're trying to extract profit from the market and we of course only make money when we're trading something that is moving we don't buy something at five and sell it at five for a profit we buy something at five and we'd like to sell it at 510 for a 10cent winner maybe 520 530 maybe 550 a 10% winner that would be great okay so if we're looking for that type of volatility you know what the most important thing we can do to reduce our risk as Traders is to make sure we're trading the right stocks every single day and that's where we're going to begin this episode on stock selection and you're going to get an understanding of why I chose the stocks that I traded today so this is the actual scan from today from about 11:45 this morning we had uh seven stocks up over 40% so each one of these stocks by themselves would be the right type of stock to at least look at because clearly they're volatile and they're moving so it meets sort of criteria number one of vola but one of the things that I've learned over the years through trial and error and making a lot of mistakes is that I typically don't make money on higher priced stocks what I found was that when I tried to when I tried to trade higher priced stocks like apple or IBM Netflix really anything that's higher price is I I would just continually get chopped out and and I realized that you know what typically those types of stocks don't go up 20 30 40% in one day they're moving in more narrow ranges they're dominated by high frequency trading algorithms and institutional Traders and hedge funds and little guy retail Traders like us there's not a lot of opportunity to make what I felt was consistent profit so kind of based on my own experience I realized well you know what I I got to just eliminate some of these stocks because they're going to be too expensive and it's not going to work now there's a couple other things that I um I'm going to walk you through but just at at the very top I look at this and I say well I'm not going to trade this stock it's $90 a share that one's off the list this one's 21 maybe I could consider it right but I notice here something else the float's a little too high and so in fact what we're going to start to lay out is the profile of the right type of stocks to trade and so number one we're going to focus on stocks with a price of preferably between two and 20 now you might say gosh that sounds awfully arbitrary this is nearly 14 m ion Dollar in gross profit and this is the area the price range of stocks where I make the most money right in here so you can see below $2 right here I make money but not a lot above 20 yes I make some money but not as much so if I'm going to focus on the area where I'm most likely to do the best it's going to be right in here stocks between $2 and 20 now I want to give you some recommended reading at the end of this episode but one of the books that I'll share with you is this book called thinking in bets by Annie Duke one of the things that she says during this book is that when she was learning to play poker she's a professional poker player she learned from her brother and her brother told her these are the hands that you'll play and he gave her a set of hands that she should play every time she got those cards and he said don't play anything else and she said well wait a second I keep seeing other people who are playing you know a different set of hands and they're doing well and he said yeah they've been doing this for a long time you're a beginner these are the hands that have the highest probability of success these are the only ones that you should play right now and so I sort of think similarly for a beginner Trader this is the only price range that you should probably be considering certainly if you're trading the strategy that I trade every single day yes do I make some money on low price stocks occasionally higher price stocks occasionally but the risk is higher and this is really the sweet spot so let's write it down between price 2 and 20 so now again if you're a friend that I've known for a really long time we're just starting high level the type of stocks that we're going to be looking for each day are stocks between 2 and 20 and you might say well why is it that you make the most money on those and what I would say is that stocks of this price range because they're cheaper they can make larger percentage gains think about a stock can go from $2 to $4 in one day easily we see it all the time and that is a 100% move for a stock to go 100% that's $20 needs to go from 20 to 40 That's not such an easy feet I mean that that really is is not an easy thing to to have happen so realistically while yes you could have a stock that goes from 20 to 40 in one day and we've seen it happen in the case of uh GameStop and some of these other high price stocks it's just not something that you can expect on a daily basis and yet these lower price stocks we see it really all the time so I'm going to pull uh put the slides back up here so our first order of business is to try to find stocks that fit the criteria of having the potential to make a big move and so my my strategy broken down into five steps the first step is to use a stock scanner this is a piece of software that searches the entire market for stocks that are making big moves and so I have to tell that scanner what to look for that's the challenge that a lot of beginner Traders face is they might have a scanner but they don't know what to tell it to look for so we're going to start by looking for Stock's price between 2 and 20 okay so there's over 10,000 stocks in the market and if we filter just between 2 and 20 yes we've narrowed down the list um considerably but there's still certainly over a thousand stocks on that list we need to narrow it down a little bit more and so what we're going to do is we're going to look at a little bit more of my metrics here and these are going to help you better understand where I perform the best so we can add some more filters okay so now if we scroll over here to instrument uh this is the specific these are the individual stocks I've made the most money on and what we're going to learn here is that number one I do the best on stocks that have high relative volume you'll see right here this is clearly sticking out obviously I don't make money trading in this area so what is this exactly this is a stock that has five times higher volume today than his average so relative volume should be five x or higher relative volume is the amount of volume a stock has has today relative to its average volume now you could use an average over the period of 7 Days 14 days 30 days I prefer a longer average and really regardless of what time period you use as long as it's five times higher than its average you're probably going to be in pretty good shape so now let's ask ourselves if a stock has five times higher volume and is priced between 2 and 20 does that tell us right away that we want to trade it well not exactly there's a couple more things we want to look for I want to make sure that the stock is up it can't be down on the day if it's down on the day I'm really not interested so it's got to be up well how much should it be up on the day so let's go ahead and scroll down a little bit further in fact the stock should have the potential to go up at least 10% while I'm in the trade and should be up at least 2% on the day before I even take the the trade that means it's gapping up all right so I'm going to say it needs to be up at least 10% as a minimum cuz I find that this is where I see the bigger the juicier returns now in order for a stock to be up 10% and to have five times higher volume than average what's driving all of that news there has to be some type of catalyst so the news catalyst is the event that brings in the volume that then results in the rate of change and again you could have technically you could have a news Catalyst you could have rate of change on a stock that's 200 $ a share but you're not going to end up seeing a 3 four 500% move in one day so if we're really focusing on the type of stocks that have the potential to make the biggest moves we got to be focusing on that price range all three or four so far of these criteria have to be in place so all of this to me represents potential uh characteristics of demand a stock price between 2 and 20 will naturally have more demand among Traders than a higher PRC stock a stock that five times relative volume today clearly is exhibiting demand a stock that's up 10% has demand a stock that has a strong news Catalyst will have demand now there's another part of this equation we've got what and demand Supply so in order to have an imbalance between supply and demand let's think about this in order for a stock to go from $2 all the way up to three and all the way up to four and all the way up to five there has to be an imbalance between Supply on the one hand and demand if the stock went up and then immediately people are selling the demand is offset by the supply people selling is Supply and so then the price comes right back down and that happens sometimes sometimes the price of a stock will go up 30% and then come all the way back down so yes there was a shortterm imbalance between supply and demand the price went up but then it came back all the way down it was fully corrected and typically that happens when the underlying news Catalyst isn't very strong or when there's a lot of insiders that suddenly see wait I'm up 30% on the day I'm going to sell some of the stock and so what we look at when we're thinking about Supply is the number of shares available to trade and that's called float so float right here these are the number of shares the company has issued and are available to trade and in the current market right now the floats that have given this the biggest return have been stocks under uh 5 million shares however as a general rule of thumb I typically say I'll focus on anything with a float of under 20 million shares but realistically under 5 million and even under 1 million you you could kind of wait these where maybe this is worth um one point this is worth um three points and this is worth like six points just if you were going to do like a scoring mechanism uh of some type in terms of waiting uh a lower float is going to have the potential to move exponentially higher so we're talking about that imbalance between supply and demand float is very important on the demand side we have a number of different elements we have price we have the percentage change on the day we have the relative volume and then we have the news on the supply side there's only one element it's the number of shares available to trade so let's jump onto the Whiteboard here for one second what I want to show you here is um an example of two different stocks so we're going to have one stock stock that goes up um 50% let's just say for example or we'll make the numbers easy we'll call it 100% One stock goes up 100% and it goes up 100% with um a float so this is the percentage change with a float of let's say um 10 million shares let's just say for example and the total amount of volume on this stock is let's just say also 10 million shares okay so you've got 10 million shares of volume you got a float 10 million shares and we're up 100% on the day so this is the change this is the supply this is the demand so what if we change these around what if this is a 10 million share float but we only have 1 million shares of volume how should that correlate to the percentage change well it's only a tenth of the of the demand so it might only be up 10% well what if we do it a different way what what if we say it's a 10 million share float but it has 100 million shares of volume that's 10 times the demand could that actually go up a th% and I'll tell you you might not think it's possible but I've seen stocks go up over 1,000% in one day I I think maybe one of the highest moves in one day was 4,000% which is unbelievable almost Unthinkable but I've seen this type of thing happen before just a couple weeks ago we had a stock that went from $2 a share in the morning to a high of $60 a share holy smokes that's an incredible move 3,000% something like like that just almost unbelievable but it happens or inversely so this might be a little harder to achieve 100 million shares of volume that's a high level of demand no question about it so what if the float goes down what if we have a 5 million share float just for instance and we have 10 million shares of volume so now we've got half the supply and same amount of demand that's a 200% move what if we have a 1 million share float and 10 million shares of volume now we're back to a 1,000% move now I'll tell you this isn't an exact science where you could put in this equation and if you see a stock with a 600,000 share float and you know 12 million shares of volume that it's going to equal this percentage change but there is a clear relationship here between float demand and the percentage change so let's look at a chart today of an actual stock that I traded just to get a little perspective so the stock that I traded today was btct this stock has a float of 2.18 million shares so let's start to fill out just sort of the how this stock fits in on our supply and demand criteria so we're going to look at um btct and the the price on this one this morning when I took my first trade was uh $10 so right in between our our kind of wheelhouse the relative volume on this stock today is 6.07 it's high and above five which is good it's currently ly up uh right now 72% the news catalyst is bit uh the price of BTC USD um so price going up btcusd and then the float on this is 2.18 million shares and now we can add just another um column of data here the volume uh let's add two more rows so let's add I'm going to take this out here we're going to add volume today and we're going to add percentage oh no we already had percentage so we'll just do volume today so volume today is currently let's see btct we've got 36 million shares of volume 36 million shares of volume now this is kind of an interesting uh situation because on this stock there's only 2 million shares approximately available to trade and yet it has 36 million shares of volume so what that means is that Traders are trading this so actively that they're buying and selling buying and selling buying and selling there's so much liquidity people are getting in getting out getting in getting out that if everyone that was holding this that is currently up 72% wanted to sell they could have all sold with that amount of volume and even in spite of that even in spite of potentially all of the Insiders selling every share that they own it's still holding up $70 2% that's a very powerful stock NOW the second stock I traded today so I had two stocks I traded um so the second one was I'll get a different color pen here was KX i n so uh and I'll go over each of these trades in more detail but just to to go high level first so btct this one was the cryptocurrency stock it's a Chinese stock um this takes um you can see right here CN so this is a Chinese company so we have the the country code there so Chinese company KX kxi this is a stock that is really really quite remarkable unbelievable it's also Chinese so it's also a Chinese stock and current price um when I started trading it was $4 um relative volume today on this one is 143 wow that's a lot this this one is currently up 63% um the C on this is kind of interesting um it's uh it's regaining compliance regaining compliance which I typically don't think a super strong Catalyst but we'll talk about that in a minute the float on this is 687 th000 shares that is a really low float the volume today on this currently is 44 million shares of volume and so there's a ratio here that we could look at which is called float rotation float rotation refers to the number of times the float traded hands so here we've got float rotation of 18 so 18 times the the float traded hands here we've got float rotation of it's obviously over 44 it's it's close to well it's not 60 it's probably I'm just going to do rough roughly 55 55 x float rotation that means if everyone that was inside holding the stock before the move wanted to sell they could have sold sold 55 times over which is really impressive so and yet the stock is still holding up so these two stocks clearly fit within the profile of the type of stocks that I make the most money on so what we have here essentially this is the road map this is the very specific outline of the type of stocks that I'm going to trade the best so this morning when I sat down I didn't I wasn't looking at these two stocks yet but I already knew that this is where I typically am going to do the best so now how do I find stocks to trade each day so let's get into the case study of today and how I made the decisions to buy the stocks I bought so I sat down this morning as I do every other morning and the first thing I'm looking at are the leading percentage gainers on my scanner now one of the first stocks I traded was kxi so KX popped up on my scanner right here at 7 am with breaking news it was um actually I guess it was 7:06 they put out news that they've regained compliance with NASDAQ so they received a letter from NASDAQ regarding regaining compliance with a minimum bid price requirement so this is good news for the company because it means they're not going to get delisted if a company gets delisted off the exchange they're getting moved to the OTC market and that's not a good thing so typically the headline of regaining compliance I don't pay a lot of attention to because obviously it it indicates the company was out of compliance so it's like you know I the out of compliance was a negative so yes it's good that they're no longer out of compliance but that let let's be realistic that's not the most positive headline so nonetheless that was the headline we got so when the stock first hit my scanner right here it's popping up it's popping from 280 to 3 to 310 so once it hits 310 the stock is up what 10% on the day so as soon as it's up 10% on the day it starts hitting my scanner so these scan ERS that I'm using are searching the market in real time for stocks that meet the criteria for me for a trade now I've trained these scanners to look specifically for this this is a software that I've built out since over the last eight years I've been building this software out with a development team that work for me and so I use this software every single day and of course members at Warrior trading use this software as well it's called day trade Dash so x uh KX ends up hitting my scanner and when it first hits my scanner I see a couple of things I checked price relative volume percentage change what's the Catalyst what's the float what's the volume today do we have float rotation yet now at the very beginning of the move volume may be low and we won't have float rotation yet but if volume is coming in we have the potential to have both of those things going up so when it first hits I see it pop up I see the news and I think I don't know not really sure about this I'm not sure about the Catalyst it drops down here it pulls back and I said I had of course I live stream whenever I'm trading for members at Warrior trading so I'm running my live broadcast I'm saying all right guys I I see it popped up but you know I'm not really sure it's kind of I don't know and then all of a sudden here it starts to move back up let me let me actually which chart was it yeah it was a one minute chart I was looking at so right here it starts to pop back up and I said wait wait wait wait wait one second look at the volume profile so this now gets into a little bit of technical analysis and how to read Candlestick charts I have a number of other episodes that cover this topic if you want to check them out so I see the first two candles are green and noteworthy is that they have higher volume than the red candles so what that tells us is that there was more accumulation here than distribution there was more stock that was bought than was sold so my immediate reaction when I saw that was as it started to pop back up here was wait the volume profile is actually good which is surprising because this isn't the strongest news Catalyst but it's a good volume profile file so as it pops up to four I take my first entry right here for the break of $4 it squeezes up almost immediately to $5 a share and hits a high of 543 from $4 to 543 now the reason I bought at $4 is because one of the patterns that I've noticed and this is getting into technical analysis is that a lot of stocks will have a little bit of resistance as they approach half dollars and whole dollars so 4 450 5 556 so I often like to get in right as these levels break and so we hit four we pulled back just for a moment and then we broke through that resistance and at that point it actually went right through the 450 resistance right through five and all the way to 550 just about which was a pretty impressive move now let's jump back onto the slide deck just for a second because I want to make sure um we're in the same place on the same page here so I'm going to pull the slides up here we go now um so step one is of course to find the stock that is moving but in order to use your stock scanners you got to make sure you understand the right type of stock to look for which of course I do so I've got my scanners programmed I get the alert on um KX it pops up and I've got to of course be able to understand the skills required to just get through that first step I want you to understand this so number one you've got to know how to use the stock scanners you got to know the type of stocks that have the potential to make big moves and the type of stocks to avoid we want to avoid typically stocks that have higher floats that are higher priced I also typically avoid penny stocks I try to avoid stocks that are easy to borrow there're just certain types of stocks that I know will be more difficult to trade and I avoid them completely this is part of the kind of educated intuition that comes with years of experience in the market so then step two is trying to understand why the stock is moving and I already talked about this a little bit with KX I saw the news headline right here in the newss window and so for KX it was showing me that they regained compliance this was the news that came out at 7:06 a.m. and again I didn't think it was a very good Catalyst but um I tried not to be biased I said look if the volume profile looks good I like it now in order to understand step two you've got to be able to understand the different types of news headlines so I instinctively knew that a headline about regaining compliance not the strongest headline you've got to also be able separate the logic of of the news from the price action sometimes for instance you'll see a headline that maybe sounds really good and yet the price goes down and you get kind of a bias you get kind of stubborn you say no no no the news is good but why is the price going down then well maybe for instance just to give you an example maybe the company put out news that this was going to happen a couple months ago and now the news it's actually happening is more of it was buy the rumor sell the news maybe there's a rumor maybe there's actually news and now that the news is they're coming out but it but it's not as good as what they had projected a few months ago right so you could have earnings for instance that are good but they're not as good as what was projected and the price goes down and it feels kind of confusing but you've got to remember that the market has a very short Outlook 3 months six months in the future so if even if the news appears good if it's not as good as what was projected or it's not as good as what people are hoping for then all of a sudden you can see a Divergence where what seemingly is good news result and the price going down you've also got to be able to understand uh fundamental analysis in general and SEC filings and this means being able to read the balance sheet of a company being able to see what their profit is being able to see um how much debt they're carrying how much cash they have on the books because this ties into number four the ability to understand secondary offering risk now all the things I'm sharing with you these sort of additional skills which I'm not getting into in this episode these are all things I teach in my classes at Warrior trading for those that are interested in fact if you want to watch a free day trading course that I taught I will put a link and I'll pin it to the top of the comments and I'll link in the description where you can watch it I will also put a link there where you can do a two-e trial at Warrior trading and you could watch over my shoulder with my live broadcast using the same scanners the same charts the same news feed that I'm using every single day so for beginners you may just want to start by watching the free day trading course I've taught and for Traders who've been doing this for a little while and want to jump in then give the twoe trial a test drive and see what see what it's like for you all right so then step three is getting into technical analysis where I'm actually reading the Candlestick charts and that's where I was doing um analyzing the volume profile so I'm looking at the volume bars I am using some basic technical indicators like moving averages I'm using the 9 the 20 the 200 using the volume weight average price using the macd moving average converence Divergence indicator and using volume bars but for the most part I keep it simple these charts don't look complicated cuz what I want to be able to see are the candlesticks the candlesticks themselves are communicating the the sentiment Candlestick charts are the language of the financial markets and what's really amazing about these charts is that inside those charts are buy and sell signals now if you haven't yet learned to see those you don't see them yet it's just because you're not yet fluent in this language of financial analysis but a technical analysis and the financial Market but the more you practice the better you'll get at it and one of the things I'd say like learning a language is the more you immerse yourself and watching as many of my episodes here on YouTube as possible the better you'll get it picking up on these subtle hints and clues that the charts are giving us ultimately the traders who make the most money are the traders who are able to see into the future this is kind of an interesting thing about doing technical analysis we see part of a pattern forming and now we have to make a prediction about what's going to happen next right so trading a large part of it is pattern recognition recognizing that when this happens this follows so in order to read Candlestick charts and perform your technical analysis you've got to understand the different Candlestick shapes the patterns the technical indicators how to read support and resistance and how to see those buy and sell signals that are plain as day right there on the chart waiting for you step four is where I'm actually executing the trades now one of the things that I do for my members at Warrior trading is I upload a lot of live trading archives these live trading archives are um the recordings of my actual trades where you can where you can see me getting in and getting out so for instance today let's see if I can find um a good trade okay that took a second but here we go um so this is from this is from today so now we're going to kind of transition into um me going over my my actual trades today and walking you through how this fits within my strategy in the five CR the five steps which is stock selection fundamental analysis technical analysis executing the trade and then step five we'll be analyzing the metrics so I want to walk you through the trades from today as these are sort of a case study demonstrating my strategy and the way I trade it every single day so let's go ahead and uh jump into here now again like I said these are uh live trading archives that are really reserved for members at Warrior trading but what I want to show you here um just sort of in for a second is the execute ution of the trade which is something I'm doing inside my trading platform so this is actually spanning across two monitors right here this is Monitor number uh number one and this is Monitor number two or actually this is One's number one this one's number two but doesn't really matter so the bottom monitor here has my actual trading software on it and this is where I'm actually pressing the buy and sell button so I've got my buy and sell buttons I have my depth of Market which is my my level two my time in sales you can see how it's moving it's it's active this is where we're seeing really the the stock uh the quotes and and the price moving in real time and I use this and depend on this a lot for my trading so in order to um to to really be a good Trader you've got to make sure as part of um step four that you're able to use trading software with hot Keys preferably you can read level two and do tape reading to see those buy and sell signals that you've got fast reaction speed it's hand ey coordination and you've got an efficient order execution system which is a combination of the broker that you're using uh but also the way you're actually executing the orders with your buttons and sort of your work your individual workflow so this trade on B btct at this point in the day you can see I'm sitting up $43,000 on the day and this is actually where things started to get exciting so I want to zoom in to this area right here so let's pull up the chart and I can get it a little bit bigger for you all right so we're going to go to btct here um so I'm going to do the one minute chart now the way I've got this all laid out here is 10c one minute 5 minute daily chart my news feed and my scanners this is this um second monitor right here and the one just below it is my trading monitor right down here so this slides down here and this stays up here all right so btct uh the the spot where I really got excited about this was uh kind of right in here and and actually um I think I should do a 10-second chart on this I think you're going to be able to see it a little bit easier I like the 10-second chart because it well 10-second chart will break down each one minute candle into its um its 10sec uh 6 10sec candle so you can kind of break it down a little bit further so this is where things started to get kind of exciting for me on B BCT so by and by the way just high level when btct hit my scanners this morning what was my thought process on um KX I think I already walked you through that one um KX that one hits my scanners and initially I'm like okay it's spiking up on breaking news I understand very quickly the Catalyst on this one breaking news I didn't think the news was that great but the volume profile supported a trade light volume sell it high volume buying so I took this trade right here on the break of four and it goes immediately 450 up to five awesome trade pulls back and then right here took this trade boom break a five all the way up to six what was interesting about this stock was we had these bursts of volume these bursts of volume and then it would kind of slow down so and I didn't trade it in this area at all so I got these trades here on this one uh really just very straightforward trading um on the pullbacks off of the volume weight aage price and the break through the high right there so that was a high day break at the half doll whole dollar of four entry at four stop at 390 adding at 3 sorry 450 taking profit as it broke through five nice clean trade this inverted Head and Shoulders inverted Head and Shoulders that's technical pattern entry right here for those of you guys that um some of this is a little bit above your head you're not familiar with some of these patterns this again is the stuff that I teach in our classes so I encourage you to check out my free day trading course or do a twoe trial at Warrior trading if you've got more experience and you want to just kind of Dive Right In so anyways that was KX fairly straightforward when um btct hit the scan this was a little different because I knew this one had made this huge move in the previous session and of course I missed it because of my bias I said you know what it's a Bitcoin stock I don't think I should trade it I don't usually do well in these and it ends up making this you know huge move and I missed the whole thing so all right I I can admit when I was wrong I should have probably traded that it was a really nice move so today when it starts popping up this morning I said all right the high is 12 back up here and this is what I do I oops sorry let me get my drawing tool so I Mark out the previous uh pre-market High which was 1174 just under 12 and I saw a couple other Traders mentioning it was popping up SJ is a member of the community his he has his $2 million badge $2 million verified profit he said when this was at about 950 said I'm watching this for a possible trade in the break of 10 uh and that was must have been right about here so I I saw it and I was like I see it you're you're not wrong I mean it's a good-looking setup but sometimes uh a stock that made a really big move in the previous session it's hard for the second day for it to make an even bigger move it it's just kind of like it it's just the second day is always in the shadow of that first day and and it didn't have fresh news but remember this was a little bit different what was the Catalyst behind this stock making such a big move Bitcoin so when I saw it starting to squeeze up here I thought all right you know look at this there it goes up to 1050 son of a gun nice move nice move it pulls back it comes back up right here um up to 11 now you know what I did first trade on this stock my first trade I bought it right here as it broke through 1050 it goes up to$ 1079 it drops down I lost $2,000 on it now that's within my risk tolerance it's not an unacceptable loss but I'll tell you something when you get kicked off the horse sometimes you you jump back up swinging hard and that's usually the case for me in fact my biggest red day sorry my biggest Green Day of all time I went red $25,000 on the day I got kicked down and I came back up swinging I ended up finishing the day up almost half a million dollars in one day and if I hadn't gotten knocked down I probably wouldn't have been trading so aggressively so there's kind of an interesting thing that happens um psychologically when you get kicked down so this stock First kicks me in the teeth I get knocked down I lose two grand and when it comes back up I was like you son of a gun you got me that one time but I'm getting you back and I got back in this thing it goes up to 11 does a micro pullback next Target 1174 it hits $174 and I make about $5,000 I go well 7,000 I went from down 2,000 to up 5,000 000 on the stock then it does a little micro pullback here goes up to 1250 boom I get a couple trades on that next thing you know pulls back and right in this area this is where it started to get interesting okay so this is the area that we're going to get on the 10-second chart uh before we get on the 10-second chart I'm just going to zoom out and show you a couple of levels from yesterday these are technical levels yesterday's high was $17 a share so that was a big Line in the Sand and we also had this pivot right here at about uh 14 so a couple of a couple of tech technical levels of resistance so on the 10sec chart this um this comes up right in this area and and I'll actually show you the live trade on this one too uh so right here it pops up and it goes up to goes up to 1268 it pulls back it rallies back up and right in here I was like okay are we going to go and then it sort of stalls out it comes back up again right here to 13 and I said okay clearly we have it see it false breaks here I said clearly we've got some resistance at the previous High which is 1268 it breaks over it right here and this was the moment of truth right in here what was happening right here what's what signal is this telling me now remember I already know I like the stock the stock meets my criteria for stock selection everything there is awesome the stock is fine I pull up the chart on bitcoin so I get the chart of Bitcoin up which normally I I wouldn't use but in this case I knew that that was the catalyst so this is a little bit like trading a derivative when you're trading a derivative the value of what you're trading is based on the underlying value of something else and the something else in this case was Bitcoin so I have the chart up on bitcoin right here and I knew that the all-time high on bitcoin was right here the high of this level which was about um 90,000 and 750 or something so I knew that was the high and it popped up right right here was just under the high and I was like boy man this thing if this if we time this right and I don't know if we will but if we time this right we might end up getting a trade on this stock right as bit Bitcoin is making a new high a new alltime high went up to 94,000 today all right so what's happening that's going up I'm pulling up the chart right here this pops up to 13 it's holding 13 and I'm like you know what it's game time it's time to step up to the plate so I have my charts up right here I'm already I'm already green on btct not by a lot though you can see I'm up $5,000 on it this is the live trading archive typically reserved just for warrior Pro members so I'm just going to give you a sneak preview of this so um as it comes up here I decide um to jump in this and I'm going to jump in for the break over 13 so I'm going to back this up so I take 7500 shares that's 7,500 shares of this stock in at$ 12289 and I'm looking for the Breakthrough 13 it breaks it's at 13 right now on the ask now what I'm looking at when I'm saying this is I'm looking at the level two so this is the ask and this is the bid right and this is the time in sales these are all the orders going through the market so I'm looking for the breakr 13 we've got 12299 on the ask and oops back that up sorry that broke it it breaks so fast when it breaks so we're in this tight little Zone here there's 1310 and the second it breaks through 13 you want to know what I do I step up to the pl and I say I like this stock if it's breaking 13 the next Target on this psychological resistance 1350 then we're looking for 1390 1390 was that little pivot from yesterday and if we can get over 1390 next level is 17 so I add right here now I've got 16,000 shares in at 1303 we've got a high now of 1330 and I'm looking for the break through 13 1350 we go immediately to 1356 this is very strong this is very strong so 13 1356 I add another 3 or 4,000 shares now I've got nearly 20,000 shares I'm looking for 14 watching 1365 and 75 and I add again looking for the break of 14 there's $14 on the ask 1419 on the ask I'm up right now $18,000 $20,000 sitting right now unrealized profit I'm looking for that pop through $22,988 49 now I took that trade with 28,000 shares is that a big position certainly it's a big position does it take some some confidence to take that type of trade absolutely but remember back on the Whiteboard what were we talking about before we were talking about and let me get it in Focus we were talking about scaling up so initially you know 10cent trades with you know 100 shares you're doing $10 a day now in this one I've gone all the way up up to a 28,000 share position and on this one because I already have a profit cushion on the day I'm already up 43,000 on the day see now this is where I'm in the driver's seat I'm in the driver's seat I'm in a position of real strength here I've got so much profit on the day that I could now hold this with a stop at break even and just see what it wants to do and this was the moment that I knew that today had the potential to be a $100,000 day so I end up getting a couple of really nice trades here as it breaks through this level so I booked some profit now let's go to the next trade uh let's back it up for one second so I book some profit and then let's watch this next trade so I'm up 77,000 on the day right here and now watch this break of 16 we go up to 17 we go up to $17 right here on the level two 17 now we're showing 1725 and this was exciting because right here we're up 63% on the day Bitcoin is making a new all time high this is at 9115 so Bitcoin is making a a new all-time high this is right here on the chart right it's right about was like actually I guess it was right yeah was like right here and all of a sudden right at 9:30 Bitcoin pulls away so this goes from 17 breaking yesterday's high and what I thought to myself is what's the signal if I was a short seller where would I bail breaking yesterday's high because that's showing real strong really strong strength so all of a sudden it breaks yesterday's high and watch this it goes from 177 I add right here where is it I add right there 1720 it goes 1750 1775 18 coming up1 1898 on the ask we just went all the way to 1898 $19 on the ask $241 on the ask now I'm up an additional unrealized $ 24,36 this is when things get pretty intense this was a wild trade I mean the momentum was just unbelievable it goes straight here from $12 up to 16 and then boom all the way up to $21 a share now at the open I got some more trades it ended up hitting high today of 20 nearly was it $265 now it dropped hard it did drop hard and I actually gave back a little profit off the top I went from a high of about 67,000 to 61,000 I gave back a little profit off the top I overstayed my welcome on it a little bit but here's something I usually say about trading if I'm not pushing it and giving back a little profit then well I probably wasn't pushing myself hard enough in order to scale your trading and in order to grow as a Trader you have to trade at the edge of your comfort zone and look there are markets where you don't want to push the edge of your comfort zone because you're just going to get punished the Market's really choppy but when you're seeing other Traders doing really well when you're seeing stocks back to back going up 50% 100% 200% if there was ever a time to be aggressive that's the time to be aggressive so this is how I kind of approach trading each day I figure um you know I start the day each day at zero I'm a day trader I don't carry any positions in from the previous day so I start each day at zero now today first trade of the day I go red $1600 1.6k again kicked in the teeth a little bit rallied back real quick and got myself up about uh what was it I guess I've got to scale this a bit better but I got myself up about 10,000 on um XK or KX from there I continued trading it until I was up about $42,000 and then I kind of went sideways for a little bit and during this time I was just waiting for another stock we got another stock that popped up all of a sudden btct First Trade on it I go red now some people would say should have walked away right there you're down 2,000 off the top I would say generally hard stop have to walk away if I give back half of my profit so if I give back half my profit I have to walk away but if I give back only 10% or 15% that's okay there's nothing wrong with that that's healthy and what ended up happening to here today is I took that trade and the next thing you know it set up another really good opportunity and just like that I go up to up about 100K on the day Peak today at about 103,000 and gave back um uh about 15% off the top down to 85,000 and then rallied back up to 100 and said that is good so generally kind of the way I approached this is I figure the right time to walk away is after I've given back you know about 10 to 15% 20% off the top right especially if I'm coming to the end of my time of day when I typically trade the best starting at 7: a.m. eastern standard time and ending for me generally hard stop by 12:00 p.m. last trades today were around uh it was somewhere around 10 10:15 or something like that so 10:15 a.m. so that's when I'm like all right you know what we're kind of coming to the end of the window given back a little off the off the Top If I have a little pullback here because it's still so early in the day usually I figure as long as I haven't given back half I'll probably still have time for Recovery again a little pullback okay but then once we start to get to the end of the window or I've kind of had two little steps down like this that's when I'm thinking all right it's time to step back one of the things I tell my my boys I've got two boys and we go skiing a lot and I tell them look fellas if you're not falling down you're not pushing yourself hard enough there's nothing wrong with falling down We All Fall Down we all get you know banged around sometimes and that's part of the fun you've got to push yourself now we have we do things to make sure we stay safe we wear a helmet you know of course the snow is nice and soft we make sure we're not flying into trees or going way beyond our skill level so when it comes to trading it's okay to have losses it's okay to take risk and to push yourself you just keep those guard rails on you don't let yourself short of stock on margin and potentially blow up your account you don't take un like unsustainable positions that have the the potential of blowing up your account or ending your career because one thing I'll say is that you never want to take a trade that has the potential to end this pursuit of trading and that's something that I've seen with short sellers you know you think about someone who's shorting a stock like btct and all of a sudden this thing goes from you know they're short at $10 a share thinking it's going to reverse and next thing you know it's at 12 it's at 15 it's at 20 think about the times that we have seen stocks like this go to $30 a share to 40 to 50 to 60 to 70 to 80 to $100 a share right they start going like that and all of a sudden in one trade a short seller could lose their entire career I've seen it happen before now this is specifically with shorting stocks it's one of the riskiest things you can do shorting stocks and going YOLO on options those are like the two riskiest things you could do in the market not to say that my strategy doesn't care car risk CU anything that's in the market carries risk but you know there there areas in the market that relatively are a lot higher risk and there's areas that are lower risk so my focus is to trade at the edge of my comfort zone to step up to trade with bigger size when the Market's hot but keep it within reason and I encourage you guys to think the same way I hope you do and always to practice these new strategies that you're learning in a safe simulated environment that's the right way to get started I've seen so many Traders ERS come in they go hot with real money maybe in a hot Market they make some some nice profits but it's beginner's luck it runs out and then next thing you know they take a huge loss and they're blown out they're gone I don't want to see that happen to you right so I want to remind you the Market's going to be here right now your job is to build your educated intuition to gain experience to practice every single day in the simulator to focus on locking up those 10cent base Bas 10-cent base hit trades right 10 cents a share 15 cents a share whatever it is base hit base hit base hit base hit build consistency that's what it's all about if you guys enjoyed this episode I hope you hit the thumbs up I hope you are subscribed to the channel and if you want to check out my free day trading course I've got a 90-minute course I think you guys would love that goes over my strategy in more detail so I'll put a link in the top of the comments in the description where you can check that out if you want to do a twoe trial at Warrior trading if you're a more experienced Trader and you're ready to jump right in you know get your hands dirty and start practicing I'd love to have you join us I'll be live streaming I stream every morning Monday through Friday I'd love to see you guys in the chat room tomorrow I'll be live streaming during your twoe trial you'll have access to this platform right here you'll be able to use the same scanners that I use every single day the same charts the news feed you'll be able to see the chat room where you'll be able to see the badge holders talking you'll be able to watch over my shoulder listen to my broadcast and hear my market commentary and I'll remind you as always you shouldn't try to blindly follow me or anyone else you've got to practice in the simulator you've got to pay your dues and take it slow but when I stream it's me putting my strategies on display showing you these strategies in real time both the winners and the losers and how it plays out so everyone tuned in today they saw me hit some really nice winners they saw me catch a couple of bigger losses but I finished the day in the green $ 100,000 $176.3 and I if you could you know if I could time travel back you know to when I was getting started I don't know that I would have believed that this much money could be made in one day it's the the power of the market is really unbelievable especially when the market starts to get hot now I'll also say in full disclosure just this last month in the last 30 days I've made more than I made trading all of last year last year the market was cold now I still had a good year six figures was a solid year I didn't make a million dollars though it wasn't a great year this year is a great year and I have the the hope that next year will also be a great year because we're definitely seeing the Market picking back up so the market goes in these es and flows and you've got to be able to ride those waves so when you have those big green days you want to remind yourself that this profit is going to have to tide me over during the inevitable slow period that comes when it's hot it feels like it's never going to get cold when it's cold it feels like it's never going to get hot again but it always does it's the EB and the flow of the market you just got to ride those waves and go with the flow thanks as always for tuning in hope you hit that thumbs up hope you subscribe the channel and I remind you as always trading is risky my results aren't typical so please take it slow and I'll see you guys hopefully in the chat room tomorrow morning