Justin’s Strategy
Justin is a momentum day trader, but his focus is penny stock trading. Justin keeps his account at about $30,000, but half of the account is invested in CD’s so he can’t trade with that money. The rest of the account he uses to buy penny stocks, with his max position size typically being around 15,000 shares.
What Justin likes about penny stocks is that since they trade below $1.00 per share, they trade down to the 1/100th of a penny. That means on a dip trade with 10,000 shares he can take as little as 1/100th a penny of risk ($10). With the goal of making 2-3 cents per share ($200-300), he has an excellent risk-to-reward ratio. In 2024, Justin reported having just 7 red days.
Justin’s Story
Justin is a Day Trader from Minnesota who has earned his $250k profit badge at Warrior Trading. Like many traders who grew up in the 1980’s and the 1990’s, Justin’s initial interest in the market was sparked by the “Dot Com” bubble. He recalls watching a nightly stock market report with his father. In the early 2000’s Justin funded his first account and made an attempt at investing. At that time he wasn’t trying to day trade in the account. His focus was just long term investing. Justin is a numbers guy. He received his college degree in mathematics and in 2022 when sitting out in the woods in Minnesota asking himself what the next chapter of his life would look like, he had the sudden thought that perhaps he should consider day trading. He’d heard of it before, and of course was already interested in the market. That began his deep dive into the world of trading.
He found Warrior Trading and became a Warrior Pro member, and eventually a graduate of the curriculum.