Video: Daily Market Recap

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Solid morning of trading on $GEVO and $OHGI. I traded 4 names today and came out with profit on 2/4. So accuracy is a little low but I didn’t take any large losses. All trades today were relatively small stabs at setups looking for a bigger move. The lack of a bigger move is part of the market right now. We seem to be lacking follow through. This makes trading extremely difficult because the breakout points where I typically expect massive volume and a spike is just kind of a dud. The most important thing for me right now is to continue to remind myself that even though I’m falling a bit short of my daily profit targets, I’m still generating profits and pulling more out of the market than I’m giving back. This is a job that can be extremely humbling! One month I might make 25-30k and the next month only half that!

 

the learning continues

As with all traders, learning never stops. I am always learning new strategies and finding ways to improve my current strategies. Right now I am working on honing my ability to buy pullbacks with a tight stop because the extension bars have been harder to find. Those breakout spots result in less volume so instead I need to find earlier entries and sell at the breakout point instead of buying more shares. During stronger markets I use the breakout point as a place to double up and scalp the high of day break but right now that isn’t working very well. I remember this happening last year at this time so I think to a certain degree it’s seasonal. We are also inbetween big runners right now.

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Ross is a US equities trader with a focus on short term momentum bursts. He obtained his Bachelors Degree in Architecture and began his career working in Manhattan at a design firm. During that time he invested part-time, actively followed the stock market, and focused on refining his trading skills. After 10 years of part-time trading Ross knew the key to success as a full-time trader would be Risk Management, Choosing the Right Stocks, and Trading the Right Chart Patterns. He focuses each day finding stocks trading on heavy volume due to a catalyst such as press releases or earnings. He trades these stocks using simple geometric patterns and strict risk management techniques. In 2012 Ross began teaching the fundamental elements of trading in his Live Day Chat Room He continues to trade live in his chat room and teach trading courses in the evenings. Ross is the chief editor at Warrior Trading News. You can contact Ross at ross@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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