Today was yet another solid day for momentum traders like myself. I was late to the market today by one minute, my computer and the think or swim software was not fully ready until 9:31 AM just after market open. VXRT was on the top of the scanner with a huge percentage gain. I opened the chart, and immediately knew that this was the stock. My first trade went very well.

This trade was placed with a Stop Limit at $3.01 for the break of three dollars. I was filled, and exited the position after passing the $3.40 cent area. The profit : $930 dollars. An easy trade which produced solid profit. It did turn out to be a little tough later in the trade! I was expecting a breakout at the $4 dollar area and bought in at $3.88 on the 1 min Chart.

After buying in, the trade went my direction for a few seconds, all the way up until $4.00 dollars. The stock quickly rejected that price, and got squeezed to the downside. I ended up flattening the position at $3.64 cent with 2K shares. I wasn’t really sure how to trade the next consolidation area. It was so choppy on the 1 min Chart. I bought the dip within the consolidation back in the $3.80 area, and then sold out right at the $4.00 dollar area. This brought my profit back to about $850 dollars. See the trade below.

For my next trades I cut my size down from 2k shares to 1k shares. I ended up buying into a dip on the 5 min chart. I filled at $4.35 cents. This trade actually worked out pretty quickly. I was able to flatten the position after the price action went above $4.60 cents leaving me with an overall profit of $1,220.

Whew, I scalped this stock literally the entire morning as it broke through highs. My next scalp occurred in one single five minute candle as it dipped and then squeezed back up. I placed a market order as the price on the five minute candle rested around the $4.65 cent area. I then flattened my position right at $4.77 cent on 1k shares.

I have one final trade that I made to finish out the day on this ticker! I ended up buying a dip on the five minute chart. See below.

I bought into this dip with a market order of 500 shares. My fill was at $3.85 cents on that green candle with the large wick. As you can see the trade went my direction starting with a squeeze back up. the next candle went green and I was able to sell at $4.12 cent. This gave me an overall daily profit on VXRT of $1500 dollars even.

The reason I took this final trade was because I noticed a support level on the 5 min chart right where that five minute candle dipped to and then rejected. It was a risky play, but risk can sometimes pay. If you take trades in places like this I recommend reducing your share size as you can see I did as the trading day moved along. If you would like to see my overall recap of this trade check out the video HERE.

I want to help as many traders as I can, That is the whole reason I created a YouTube and a Blog. I f you feel like these articles help your own personal trading be sure to Hit that LIKE button and share with as many traders as you can. Traders I hope you have a really green Week!!

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