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!!

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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