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Warrior Trading Blog

+$143.64 Day Trading & a NEW Swing Trade Position

new swing trade

+$143.64 Day Trading & a NEW Swing Trade Position

All right, guys. So, we’re going to do a little midday market recap. We’ll go over today’s trades. This is the last day of the month of August. That’s exciting. We’re finishing up the month here with a couple of trades, three trades today: one loser, one winner, and one trade still open, which is a new swing trade.

So, we’ll go over those as we come into the end of the week here, Thursday and then Friday. Just so you guys know, our Labor Day sales are underway. If you go to the website you’ll see, most likely, a banner or a link to the Labor Day sale. Coupon code “Labor30” is 30% off everything, anything at Warrior Trading. Okay, so that started the other day and that’s going to run through this weekend.

Yeah. Now let’s go over the trades from today. Finishing this morning with $143.64 of profit, which will hopefully stay the same unless I get stopped out of my swing trade. So, new swing trade is on MRNS. Entry is at $2.97 so pretty much break even right now. This one is based on a daily bull flag, which you can see right here. Entry was just under $3.00. Yesterday’s high was $2.97 as we broke that level, $2.97 was my entry.

You can see right here, 2,500 shares and then another 2,500 at $2.97. I feel pretty good about this even though it’s only break even right now. It popped up to $3.12 and then it kind of dropped back down to $2.80 something. Now, it’s kind of back where it started. I don’t want to get … I really want to focus on the daily chart on this one and not look at the one minute and not even look at the five minute because that’s not going to help me stay in the trade. Right? I just want to just let it sit there.

I don’t have any stop. I have a mental max loss on it, but I don’t have any stop order. I’ll leave it open because when it dips down like this the way it did, it’s going to pick up my shares. Then, I would’ve gotten stopped out right here on the wick, which is … I don’t know if it’s a market order, someone just bailing out, but I don’t want to get stopped out without tipping things. I’d rather just leave it open knowing that my risk is already pretty mitigated by the fact that I only have 5,000 shares for $3.00 stock. It is not an incredibly volatile name like some of the others that we trade. I feel fine with that.

We popped up. We pulled back. Now, we’re kind of consolidating, but on the daily chart you can see this nice curling pattern. I was actually watching it for an entry down here at 78. I tried to get in and I didn’t get filled. I wanted to be in at 78 two days ago, which would’ve been a nice little trade, up to $3.00. Again, this is swing trading. This isn’t about making 10% or 20% in a single day even though if that happens, that’s great. It’s trying to put some money to work for the next couple days when otherwise that money would just be sitting in my account doing nothing.

If I can pick up a couple extra hundred bucks, and extra five hundred, or a thousand, then that’s fantastic. I just let it work. I’m scanning for these types of set ups and this one was a pretty good one. The volume is on the light side, but the set up is strong so we’ll see what it does. If I get stopped out, then that’s fine. If I lose five hundred bucks on it, I’m okay with that with the potential that if it works well and it moves up to $3.15, $3.20, $3.25 that could be a $1,500.00 winner, maybe more.

That’s been looking at there on MRNS. That’s just going to work for a little bit.

FSNN, this is one of the ones that I traded and I lost money on it today. A little bit of a frustrating one, not the easiest to trade. I got in … Let’s see. Let’s scroll back up here. I got in at 41 and 45, 7,500 shares. I tried to add it at 43. That order didn’t fill so I ended up instead with 10,000 with 7,500 shares. I put out an order to … I guess I just bailed out at 35. I didn’t even try to sell into profit. It didn’t get that opportunity. That was right around, it must have been … Let’s see, kind of like, yeah, right around here on this one minute pull back. I got in right here, got in a little on the high side. It pops up and then it just drops back down. I was expecting it to break over the half dollar and continue, be a really nice strong trade. It didn’t work. I lost six hundred bucks. I got knocked out of that one.

The next trade was LINU. We traded this one a couple times this week already, done pretty well on it. So, when I saw it flagging here under 231 I jumped in with 10,000 shares. 226 and $2.28 gave me a 227 average and put an order to sell at 249. No fill. I sold 2,500 shares at 43. Tried to sell more at 46 and then I stopped at the rest at 32, which again, that could’ve been a much bigger winner, but just didn’t work out super well.

Then I tried to get back in at 25 and it didn’t get filled. And then I’ve got my trade here on MRNS so that’s pretty much it for today.

Nothing super exciting, kind of a slow morning, but I’m okay with that. Just kind of taking it one day at a time here and wanting to finish up the month with a couple good trades, but without getting super, super aggressive. Like I said, that’s pretty much it for today. I’m hoping that we see some good opportunities early next week. I don’t expect a lot for Friday. Well, actually, Fridays have been pretty good for me recently, but usually Fridays are not the day I really count on. We’ll see.

But, I’ll be holding, most likely, this swing trade into tomorrow as long as I don’t get stopped out. Maybe that will help me start the month with a little bit of profit.

All right. That’s about it for me. I’m going to grab a little bit of lunch and then come back here and maybe look for some more swing trades that I can keep an eye on for next week. Really, the way I found MRNS and the same way I found ACET, which I haven’t taken a trade on it yet, I don’t think it’s actually right for me quite yet, but I just find these by looking at the stocks that are up the most in the last 20 days and down the most in the last 20 days. Then I look for either bull flags or potential for a bounce and a reversal. This was a bounce set up. MRNS is a bull flag set up. That’s pretty much what I’m looking for.

All right. Yeah, that’s about it for me today and I’ll see you guys all first thing tomorrow morning. Tomorrow we can do a little bit of a recap on the month of August. Okay. I’ll see you all in the morning. Bye, guys.

Oh, hey. I didn’t see you there. I was just working on the dream board for my next [inaudible 00:08:09] trade. Hopefully, it comes soon. Until then, make sure you subscribe to get email alerts anytime I go live or upload new videos. Until then, happy surfing.