Fighting FOMO And Finding Profit In Consistency

One of the biggest things I’ve tried to stress in my training for this upcoming small account challenge, both to myself and to my students, is that my daily profits are not going to be as mind-bogglingly massive as they sometimes were when I would take +10,000 share size on an $8 or $9 stock. Capping my trades to 2,000 shares and walking away once I lost more than $1,000 can and has reduced my daily profit to the point where making a few hundred dollars is now a strong day.

However, this week has been stellar for my new, more measured trading approach.

I wasn’t expecting it either. I was already feeling a little frustrated after getting locked out of a massive +250% move in Karuna Therapeutics, Inc. KRTX on Monday (one that I totally saw coming, darn it). The price was just too high and I needed to exercise discipline. I ended up sitting out that day completely because I couldn’t trust myself to stick with my rules.

But in spite of taking no trades on Monday, I still managed to make $4,500 over the next three sessions. That’s nearly twice my weekly goal in just three days.

While those numbers put the experience in a good light, it was not easy getting there. Tuesday was my best day with a handful of trades in Myovant Sciences Ltd. MYOV that netted me $2,500. However, I started the day down -$300 on MYOV because I got in at the wrong time and then resisted getting in when I could have revenge traded back into the green.

But I want to follow my rules, I want to be consistent. So I waited, the stock consolidated and I noticed something as it bounced around $14.50, it was holding that level. There was a hidden buyer at that price, so I jumped in at full size and was suddenly in the green by $800 as it ripped above $15.20.

Suddenly, I was in my rhythm. I made another full-size trade in MYOV for the break above $16 and netted another $1,700.

It was a huge win, especially after hitting so many frustrating barriers to start this week. Wednesday and Thursday turned out to be a similarly great day for this challenge, with a series of strong trades in Arcimoto, Inc. FUV and Wah Fu Education Group Limited WAFU that each added up to +$1,000 winners. 

These results are great and they speak to the consistency of this strategy when it’s done at a pretty modest scale. I’m so happy to be having these kinds of results because they not only validate the efficiency and low-risk nature of my strategy, they are legitimately strong results with very attainable buying power.

And speaking of being thankful, with Thanksgiving coming up and Black Friday on its tail, Warrior Trading is gearing up its holiday sales.

However, because of the big demand we’ve seen in previous years, we’re running a priority access promotion to gauge whether we’ll even run our usual Black Friday/Cyber Monday deals. If we get enough students to sign up early, we may not run the typical promotions. So if you think you may be interested, don’t wait until next week to check out what’s on offer this year.

In any case, I hope you all have a happy Thanksgiving.