Wrapping Up March With With A Steady Green Streak

It shouldn’t be so surprising now after months of huge moves in the market, but March was another stellar month for my day trading accounts. My net profits for the month came in just above February’s number, with $365,335.86 across both my margin account and IRA trading account, which, combined with January’s $785,000, puts me at almost $1.5 million over the first quarter of 2021.

I’m going to delve into my trading statistics for the quarter in another piece. However, for context, this time last year I closed out March with $2,750 in net profits and my account was under $70,000.

Admittedly, 2020 got off to a rocky start before taking off through the summer months. Nonetheless, the difference illustrates just how hot the market continues to be for day trading.

Looking back on the final week of the month, it also got off to a fairly mild start. On Monday I was able to take advantage of the opening breakouts on the day’s two leading gap stocks Cyanotech Corporation CYAN and Universe Pharmaceuticals Inc. UPC for about $10,000. After that, I just didn’t see much in the way of opportunity, holding off on trades in WISeKey International Holding AG WKEY and Elite Education Group International Limited EEIQ.

Tuesday wasn’t much different with another strong gap and go trade, this time in VirTra, Inc. VTSI that I was able to trade for $7,800. After that, I missed some entry points in Orphazyme A/S ORPH and Jiayin Group Inc. JFIN before I ended up walking away for the day.

The final day of the month was a bit more eventful in as much as I started the day digging myself a $10,000 hole with failed setups in Delcath Systems, Inc. DCTH, Liquid Media Group Ltd. YVR and Wah Fu Education Group Limited WAFU. However, WAFU ended up reversing itself on that move lower, bouncing off of the $10 level. I made an entry at $11 to take it all the way past $13, scaling out and taking profit to the high of the move above $15 for $17,000 in net profit. It was a really satisfying trade after the poor start and it helped put me in the green for the day by about $10,000.

Finally, April Fools day ended up being my strongest of the week at $14,000 thanks to two winners in Future FinTech Group Inc. FTFT and P&F Industries, Inc. PFIN. I, unfortunately, lost a little off the top due to a breakdown in UPC following a halt.

Still, last week represented a strong end to March and Q1 as well as an admirable beginning to the Spring trading season. Hopefully, the market continues to present strong opportunities heading on and we can look forward to the same kind of breakouts we saw last year on the approach to the summer months.

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