Friday was a pretty good day for day trading both in the equities market and the Futures markets! My Stock Trade was on Ticker SLNO which made a huge move to the upside right at the open. For my first trade I tried to place a Stop Limit right at the $3.00 Mark on opening bell in which my order was by passed and I did not fill on the initial momentum. (open range breakout). Frustrating!!! But, I just waited for another low risk entry into the stock!

This was the first trade I placed off of the 1 min chart. I bought the break of the $3.30 cent area and got filled at $3.31 cents. As you can see in the image above, the trade failed quickly and I flattened the position at $3.21 cents on 2k shares leaving me with a loss of -$220!

This was my second trade off of the 1 min chart on SLNO! Notice the second red candle immediately respects the 9 EMA. Once I saw the next candle go green, I entered the position at $3.15 cent. The price action started to go in my favor, as you can see that green candle has a nice wick, but it then starts to squeeze back down towards my entry. I exited on the next red candle, this time with an overall loss – with the first trade and this trade of -$400 dollars. OUCH!! Not the way I wanted to start the morning!

This was my third trade on SLNO! I placed a limit order at $3.05 cents, and got filled quickly. As the trade started going in my favor I placed a Stop Loss order at $2.99 cents, so just below $3 dollars. I don’t normally place stops but my thoughts were that, If I got stopped out it would end my trading day. As you can see I did not get stopped and instead recovered all of my losses, and was now in the green on SLNO $80 dollars. Whew!! Rough Start!

This next trade was a resistance break at the $3.20 cent area on the way back up from a dip. I entered the position with a stop limit placed at $3.21 cents and got filled as the price action moved up to $3.30 cent area. I flattened around the top of that green candle, and was now in the green SLNO for $300 dollars even.

On this trade I bought the dip of that red candle as the stock price was climbing through the breakout. I bought in 1,000 shares at $3.65, and then averaged in another 1,000 shares on the break of that red candle around $3.80 cents. I flattened the position at the height of the green candle. Looking at the chart I should have held that position a little longer as the very next candle pushed over the $4.00 area. This put me at an overall profit of $460 dollars on SLNO!

Overall my motives are to scalp through the momentum with huge share size. I ended the day with this stock at $1,935 dollars. The trade that put me way into the profit happened later in the trading session. SLNO started to consolidate very strangely. I ended up buying in at the low of the consolidation and held throughout that period.

This was a weird trade, I basically placed this trade because the way the chart and orders looked, I could see this stock was not done yet. That consolidation area was so strange but my thoughts were, if I could buy close to the 9EMA, and allow a small risk to my profits already made, than all in all it would be a good trade. I had 2,000 shares holding and did not expect the huge move to the upside. I flattened my position, and ended the day in the green!!

If you would like to see the video of these trades, click the link to our YouTube video (HERE).

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Published by Eric Jobb

Hello everyone, my name is Eric and I am the founder of TheFreedomGrind. I love to trade stocks and futures, It's my passion, and I will never go back. I have taken time, money, and energy learning the market. There is no secret trick, no gimmick that will get you closer to being profitable. It will take time, money, and energy to make gains as a day trader. I created the blog and the YouTube channel to provide as much useful information about trading to anyone who has the desire to become a trader.

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