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The Upside Of Trading The Market You're In

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The Upside Of Trading The Market You're In

If I were a superstitious trader (which I try not to be) I would almost think this week’s huge momentum was a result of the -$11,000 sacrifice I made to the market at the end of last week.

Of course, the market isn’t a vengeful deity, as much as we might sometimes like to curse or praise it. Still, It felt great to cover my losses from last Thursday and Friday on the following Monday. It felt even better to regain my pace for the month on Tuesday. I was ecstatic when I hit my monthly $40,000 goal on Wednesday. The additional $10,000 I made on Thursday was more icing on the cake.

That’s right, I’m up nearly $47,000 this week alone with still one more day to go! This streak was helped out by huge momentum moves in Westwater Resources, Inc. (NASDAQ: WWR), Viveve Medical, Inc. (NASDAQ: VIVE) and Datasea Inc. (NASDAQ: DTSS), which was trading up 700% on Tuesday. I made anywhere from $7,000 to $11,000 trading each of those three stocks alone.

All told, I’m in the green by more $55,000 for October.

While it’s hard to say whether this was the optimal way to get here since I might be up by $60,000 or more if I had been more conservative throughout the first two weeks of the month. At the same time, if I had played it safe I might not have found as much traction in that period and could still be struggling to build up a trading cushion.

That’s what this week’s profits will help with: cushioning my account in the final 10 trading days left in October so I can feel more confident about stepping on the gas pedal. This is the time of year that my trading strategy has historically found the most success.

However, there are obviously no guarantees in the market any more than there is karma affecting your P/L or some vengeful spirit haunting your brokerage accounts. As always, successful day trading is about trading the market you’re in, not the one you wish you were in.

Luckily, right now we seem to be in one that I usually do wish for.

Warrior trading is a content partner of Benzinga

Posted-In: Warrior TradingEducation General

 

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