Hey Traders welcome back to another daily profit and loss recap video today is Friday June 23rd I
just finished up trading for the morning and I locked in 1221 in profits with two winning
trades and in this video we're going to break down these trades talk about my thought process
behind them so hopefully you can take something from my trading and apply it to your own alright
so the first trade for me today was ucar this was a trade straight out of the market Master group's
trade plans we post trade plans every single night to help our team of Traders prepare to
take on the market the following day and if we take a look at the trade plans for ucar this
was a big Wednesday runner back in play because of the daily chart inside bar setup if we take a look
at the daily chart we can see that on Wednesday we have this big spike this big green candle and then
yesterday the following day from that big green candle we get this small red pullback handle that
is completely within the range of this previous candle or this previous bar and that's what an
inside bar setup is so once the price starts to rise above the high of the inside bar which in
this case was 7.92 that is the breakout signal for this pattern and a lot of times what we'll
see happen is the price will then push back up to the high of that first initial momentum candle
okay so that's why ucar was on my watch list in the first place if we take a look at the morning
alerts in the market Master group today following the open I posted ucar was nearing the inside bar
breakout level from last night's trade plans after a strong open looking bullish in a lot like vcig
yesterday which was a great inside bar breakout opportunity the following day so from that alert
what I did was I took a starter position once we got the opening range breakout that means
that I took a small position once it started to break above the high of this first five minute
Candlestick which is 7.66 okay so that's where I took my starter position I then added into this
position as it started to pull back and form a little bit of a double bottom here at about seven
dollars and eighty cents we take a look at the one minute chart it might be a little bit more clear
we could see it pause briefly under v-wap with low volume holds above seven dollars and eighty cents
really nicely and then immediately curls back above the web so that to me was a bullish sign
that tells me that this pulled back from the highs was just a healthy pullback in this uptrending
stock I added into my position and I ended up with 1 000 shares and my average cost from my initial
entry in my dip buy was just under seven dollars and eighty cents so when it comes to logging in
profits what I usually tend to do is if there's already a high in place which in this case at
this point there was a high in place and that is going to be 8.35 cents up here I like to lock in
a portion of my profits back into that high just in case it ends up being a double top or it ends
up having a quick false breakout that immediately gets rejected back down so with that being said I
locked in some of my profits in the high a20s and then I locked in the rest of my profits into this
quick breakout up in the mid eights and on that trade I ended up with a total of 625 dollars in
profits I also just want to give a quick couple of shout outs because I know we had some team traders
that were making some money on this as well we had T dollar sign dollar sign dollar sign who locked
in profits from 7.92 up to eight dollars and 33 cents so they made 41 cents per share on this
trade Murphy got a shout out in yesterday's video as well also locked in some profits 394 dollars on
this trade so I'm very happy to see some Traders in the group making money on these trades as well
okay so the other trade that I want to talk about today was w o r x w o r x was a nice Gap up this
morning we can see the previous day's closing price on this was just about 36 Cents and today
it opened at a price of 44 cents so there was a small Gap up but there was a bigger run earlier
on in pre-market and we can see into the open here it starts to fade back down towards the
pre-market lows and if you've been watching these videos you know that most of the time what I like
to do usually when a stock is gapping up is wait for that opening range breakout to buy into that
momentum that's carrying into the market hours but in this case what I did was I looked for a
dip and rip situation and I posted in pre-market that I was looking for this setup I posted at 9 24
am Worx is looking solid for a dip and rip setup this morning great risk and reward if we get it
dipped down to the 40 Cent area at the open and we can see at the time it was trading at about 45
cents at the market open sure enough what happens is it dips down to a low of 39 cents that dip gets
bought right back up pushes through that opening range pushes through v-wap and sure enough it has
a spike all the way up to 66 cents so this ended up being a really killer dip and rip situation
over 50 potential Returns on this trade we had some traders in the group locking in profits
on this trade as well and this was my second trade for the day I ended up with a total of 8
000 shares I am a little bit embarrassed to say how long it took me to realize how small of a
position 8 000 shares in this stock really was I'm used to generally trading stocks that are in the
two to five dollar range for the most part so when I trade a stock that is under a dollar per share
there's something that throws me off a little bit psychologically Behind These lower price stocks
and buying ten thousand twenty thousand shares at a time so like I said I only ended up with 8
000 shares in Worx which was only a position of about three thousand seven hundred dollars so
once I realized that I didn't really like the chart enough to add into it at that point but
I decided to try to make the most out of this small position and let this winning trade run a
little bit in my favor so usually what I would do is I would lock in some profits into this opening
range area if I bought the dip down here at 40 in the high of this opening range is 44. I would look
to take a quick 10 and lock in some profits into that 44 Cent area but like I said I wanted to be
a little bit more patient so I waited for it to push back up into the 50s and I locked in some
profits over 50 cents per share if we take a look at the bigger picture here we can see it ended
up actually pushing up through this pre-market High all the way up to that high of 66 cents so
per usual I did still lock in profits a bit too early but when it was all said and done on that
trade I locked in 596 dollars on an investment of just three thousand seven hundred dollars
so that took my overall profits for the day up to 1221 I'm calling it quits finishing up my morning
trading and finishing up my trading for the week so hopefully you enjoyed this video and found some
value in recapping my trades if you did please make sure to give the video a like And subscribe
to the channel and remember if you're not already in the group I post about all of
my trades in real time so if you're interested in hearing about these trades as I'm actually
executing them make sure to click the link down below to come join us in the market Master group
anyway thank you again for watching I hope you enjoyed and good luck with your Trading
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