Video: Daily Market Recap

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Today was a fairly slow day in the market.  Although we are in the middle of earnings season the gappers this morning were fairly light.  The big mover was Amazon.  I was tempted to buy AMZN long at $440 but the spreads were 50-80 cents which means if it went the wrong way my stop would have been probably $438.  I passed on the trade thinking the risk would be to high but of course it ran straight up to $448.  That’s okay!  I will get the next one!

I did take small trades on LOOK, CALI, DIS, and MCP but didn’t generate too much profit.  I’m closing the day down just under $400 but finishing the week over $2k profit.  It’s been a slow week but like I often say, this job is all about slow and steady.  I know we can’t force the markets or force trades.  The best strategy is to take it slow and focus on only taking the best setups.  That will continue to be my approach next week.

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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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