A Breaking News Short Squeeze at 8am ET (Pre-Market) transcript

all right everyone so we're going to jump into it here go over the trades from today uh this is a Green Day recouped the losses from yesterday back in the green which is great uh and today is the last day of April so overall finishing April here um must be about 40 $44,000 a profit or something like that uh it'll make it the second best month of the year best month uh being in February when I was up over 100,000 uh January was was pretty good as well we can look at the metrics here I didn't import my trades from yesterday or from um certainly today yet but if we look at January January gross was 36,000 February gross 131,000 March gross only 20,000 and this was you know this could have been a great month but I had um you know a couple of bigger red days right here and then two red days here but nonetheless 20,000 is good and then here for April not including yesterday and today was at 43,000 so yesterday was a red Day red day recap down $483 and today is a green day so let's jump into um the scans and I'll start to break down the trades that I took this morning okay so um as always this morning you know sat down relatively early must have been um around well I was I was looking at the scans on my phone around 7 and what I noticed um fairly early on U my scans I'll just show this to you here my it's a little dark in my office but um I noticed that our leading gappers were were relatively low 47% so I was like oh that's not great and this is just the last time I refreshed it at 7:30 or so but nonetheless um I when I realized that we didn't have any big gappers again today I was like um you know uh it's going to be going to be another slow Market uh you know kind of I I sort of struggle with this because I I get this like just uh I'm I'm I miss the hot momentum you know I miss those big big moves and I get a little impatient and a little just like you know just missing that so I got a little bummed out but I was like all right well anyways I'm going to come and sit down as I do every single day you know I'm here with you guys in the trenches trading day in day out like the mailman rain or shine so came over sat down pulled up CYCC leading gapper I was like no don't like it so what didn't I like about it uh the chart this is a stock that started the move after hours here and then continued a little bit pre-market and interestingly right at seven sort of did this nose dive I don't usually like to trade when the move starts after hours I prefer when the news begins pre-market cuz here's the thing if the news starts after hours here then by pre-market it should be way higher and a lot of times you get sort of that initial reaction and then it drops back down now if we look at um this stock here just on another day we got this huge squeeze and then this complete reversal so this is a stock that is obviously shown that it has no issue um reversing and trapping uh Traders and being pretty nasty so CYCC that was a no-o I was sure about that um agba this one pre-market uh they put out the same headline they've been putting out like three or four other times that they've got this merger agreement and it pops up here at 9:00 a.m. and I was kind of like well but it's the same headline it drops back down it pushes higher and the that first pullback on the F minute worked it dips down and then at the open it squeezes up to 340 pulls back for a second and then shoots up to 4 30 drops down comes up here rejection drops back down I didn't trade it um on the one minute chart I was looking at it and I I was I sort of got a little tempted but the problem was you know I didn't trade the first pullback I didn't trade this second pullback and then in this area I just thought it was a little too extended you sort of got this jack knife and then this rip back up here topping tail candle sells off relatively hard and then comes back up gets slammed back down so macd cross over here wasn't going to trade after that point there so you know or there roughly so I was like nope you know this was the front side of the move and the fact is I underestimated it when we were sitting at 340 I was just thinking to myself you know I don't think this is going to do much it's a grinder it's thickly traded you know these are very congested so it ended up making a bigger move than I expected which is great to see and the more we see that the more I'll be willing to step up to the plate and start trading these but in the last week and a half what we've been seeing instead is a lot of chop when when this popped up a couple days ago when it first had that news two red candles in a row you know it's just been choppy so I just didn't have high expectations of it the relative volume is still pretty low today compared to the previous days but it did end up working so good job for those that traded it but I didn't touch that next one down was GMM didn't trade this one either due to the price being a little too cheap does have quite a lot of volume today but I just thought it was too cheap wgs didn't trade this one floats a little higher at 18 million shares El ym $7 a share the price is okay um 4 million share float but I just it didn't wasn't really moving that much pre-market but it's up more now um Mullen so I'll look at this one for a second my problem with Mullen is that I think you have a lot of bag holders on this from traders who bought it when it was sort of you know really hyped up during I don't know what was this like 2021 and now you know it's just sold off so much I'm just worried that there's bag holders now it may go higher it did have some nice news out yesterday um you know but I I don't know I I'm just not interested in pushing my luck with that stock it's definitely more thickly traded it's not easy all right so what did I trade so this morning uh the only stock I traded was Au this one um came out with news at 800 a.m. and I saw it moving up my scanner and I just I basically you know at the top and the bottom of the hour I'm always sitting and watching for news so AUD pops up and I'll jump onto the 10-second chart so I can show you where I got in I saw it pop and then that was right here when it first started popping up I saw that it had news and I was like okay I'm going to get in right here I'll buy the first dip so I bought that first dip there took 2500 Shar starter added another 2500 shares so 5,000 shares it squeezes up to 230 240 269 hits a high of 277 and then it drops to 229 it pops back up here and I ended up getting out with an average price of about 235 or something like that so I was in at an average of uh 203 down here 5,000 shares and I was out at about yeah 240 something like that so locked up uh on that trade 1,800 bucks which is not bad it was enough for me to be over my ,000 goal my first ,000 of the day so at that point I increased my share size from the cap of 5,000 I I moved the the cap off and I was ready to step up for the next trade but then AUD kind of faded had a high volume uh red candle here you know pull drops back down so then this was out of play so I was like all right well I'm not going to get any more trades on this one uh and then I just said all right well that was 8:00 a.m. that was news at the top of the hour I'll just keep watching news so then 8:30 comes we don't have anything that's strong right 9:00 comes and we have agba that pops up but I'm thinking no I don't I don't think I like this one you know anyways underestimated it but didn't trade it and then next thing you know it's the it's the open and we don't have anything that to me looks really obvious so now it's about 10:30 and I feel like the window was sort of limited today there wasn't a lot of opportunity I'm glad I got green recoup the loss from yesterday easily and hey I'll just finish the month like this so you know this all comes back to knowing when to lean in knowing when to be aggressive and knowing when to ease off the throttle so um we were talking about this book again today the power of Knowing When to Walk Away quit by Annie Duke I recommend it I think it's a great read and um she talks about um this this example or this study of uh taxi drivers in New York City and the tendency of taxi drivers to drive until they make a certain amount of money and um and then on days when you know they make all they make their goal in like you know two hours they just stop whereas on days where they're not making any money they just drive and drive and drive waiting and waiting and waiting um and I think that that's interesting because I think Traders tend to do the same thing we tend to walk away as soon as we hit our goal but on days when we don't get it we are just waiting and waiting and trading and trading and it would actually be better if we limit ourselves on days when it's cold and trade less and on days when it's hot we trade as long as we can until you know things slow down so by doing that you would actually according to the taxi driver study you you would make more money as a driver I think the same is true with trading though I think the same logic applies so is today the type of day I should dig deep and you know trade through the morning and into the afternoon and through Power Hour I'm not seeing anything that would justify that right right now I think today is the type of day where you know volume is spread across a couple different stocks these have decent volume you know agba has good volume Mullen has decent volume but you know the price action isn't really that clean and and I just don't see it so I think this is the type of day to know when to walk away early to take the profit to hit the road and then come back and try to do it again tomorrow after all today is the last day of April so it's nice to finish the month with a couple of green trades and then tomorrow we're starting a brand new month and we're all going to start in the exact same place we're going to start the month at zero and so to get ourselves off to a strong start uh tomorrow my plan is to focus on highest quality setups so I can have really good accuracy if I can have really good accuracy my profit loss ratio will be better as a result and most likely my consistency will also improve through the rest of the week that could get me a really good start to the month of May if I could do that the wind will be at my back I'll be starting with confidence and then go into the rest of the month feeling really good now for those you guys that want to join me make sure you check out our anniversary sale which ends today today is the last day of the anniversary sale it's ending uh later today so um you know this is we were ending it in April April is the month of our anniversary so uh those of you guys who haven't already checked out our uh special sales that we've got going on come over to the website check it out I'll put a link in the description I'll put a link in the top of the comments so you you can click over and uh check out the sales we've got for uh becoming a member at Warrior trading all right so we would love to have you guys join and I want to thank you as always for tuning in to this recap and I'll be back at it bright and early tomorrow so reminder as always trading is risky my results aren't typical so man your risk take it slow I'll see you back here tomorrow morning