No Trade Day!

Channel: Ross Cameron - Warrior Trading YouTube

Watch on YouTube · 2026-05-07

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Here's a summary of the YouTube trading video transcript: **Stock Tickers Mentioned:** * CNSP * ERNR (ERNA) * ATRA * VEEE * GLE * RTX * AAON * IWM **Price Levels:** * Support: + CNSP: $46,000 (Monday's high) + ERNR: $8 (Wednesday's high) + ATRA: $9 (morning pop-up) + VEEE: no specific price level mentioned + GLE: no specific price level mentioned * Resistance: + CNSP: $1308 (daily chart level) + ERNR: no specific price level mentioned + ATRA: no specific price level mentioned + VEEE: no specific price level mentioned + GLE: no specific price level mentioned * Targets: + CNSP: no specific price level mentioned + ERNR: no specific price level mentioned + ATRA: $9 (morning pop-up) + VEEE: no specific price level mentioned + GLE: no specific price level mentioned * Stop-Losses: + CNSP: no specific price level mentioned + ERNR: no specific price level mentioned + ATRA: no specific price level mentioned + VEEE: no specific price level mentioned + GLE: no specific price level mentioned **Key Trading Strategy:** * The trader is a conservative trader who waits for strong moves before entering trades. * They prioritize building a cushion and sizing up their positions to avoid emotional trading. * They focus on waiting for confirmation of a move (e.g., divergence) before entering a trade. **Indicators Used:** * Exponential Moving Average (EMA) * Level 2 data (to check borrowing costs) **Entry/Exit Rules and Suggested Trades:** * The trader does not have any specific entry or exit rules mentioned. * They suggest waiting for confirmation of a move (e.g., divergence) before entering a trade. **Timeframes Mentioned:** * Daily chart * Hourly chart (implied by mentioning EMA) **Risk Management Tips:** * Building a cushion to avoid emotional trading * Sizing up positions to avoid large losses * Waiting for confirmation of a move (e.g., divergence) before entering a trade Note that the trader does not have a specific strategy or system outlined in the video, but rather shares their personal approach to trading and risk management.

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What's up, everyone? All right, well, here we are. It's Thursday and it's a no trade day. So, this is very typical of the market we're in. Hot day, cold day, hot day, cold day. Monday was great. We had CNSP biotech stock was up $46,000. Awesome first day of the week. Tuesday, crickets. Took one trade, was down 3,500 bucks. Wednesday, yesterday, we had um what was it? ERNR ER I think that was the ticker. Squeezed up, ended up rallying in the afternoon up towards about $8 a share. So, not the easiest, you know, it popped up and it rolled over, but nonetheless, we did have a move. And now today, once again, crickets. So, what will tomorrow hold? I can hope that we have a wild card Friday, which would be a surprise because typically Fridays are slower. You don't expect a company to put out a big headline on a Friday going into the weekend, but every now and then that'll happen. And when it does happen, for lack of anything else that one stock can do quite well, which is why we call it the wild card Friday. Will that happen tomorrow? Probably not, but there's always hope. So, if we jump on the screen share here, you'll see, of course, my P&L, which is zero. So, no trades today. ATRA, this is a stock that popped up this morning. Squeezed up quickly from five up to about $9 a share, which is a big move. Um it's up about 48% right now. We did have a couple stocks that were up a bit higher. I did not take any trades on this, which might surprise you because it is a decent size move. Um if I pull up the level two on it, you'll notice the big green E right here, which means it's easy to borrow, which means uh traders will be more uh aggressive likely shorting it at the beginning of the move because it's free to short it. You don't have to pay to borrow the shares. There's so many shares available, you could short it for free. That's what that means. It's easy to borrow. So, when this stock first popped up and I saw that, hits $9, sells off, and I noticed that at about 8:50, we had the 200 exponential moving average. So, you'll see that on our daily chart right here. So, I saw that level. I also noticed that we had this kind of big gap right here, which got filled a little bit there, but still a pretty nice gap on the daily chart. So, we had room on this up to um about 1308. But, it wasn't able to really, you know, make much progress into that level. As you could see, it hit this high initially of about $9, then it pulls back. It did rally back up. We got a curl back up, and I could have traded it here, but I just because of the position of the 200 on the daily, because it was easy to borrow, I just wasn't sure, you know? And so, I left it alone, missed that candle there, which ended up being our high of day, highest volume. And then right here, some people were looking at this, and I said, "This is something to be cautious of. Notice the divergence." The price here is moving higher, but the volume is declining. So, where actually that tells us we're probably going to roll over, and we did. We rolled over, went below VWAP, got back above it, then back below it, then back above it, jackknife back down. So, some shorts um won on that one, some long traders lost, and now it's been just sort of pulling back. So, that was ATRA, ERNA from yesterday. This one did also pop up again this morning. Um you know, that was the high yesterday, 770. So, popped up, then rallied into the afternoon, then came back down. Anyways, that was that one. And then we had VEEE, E, three Es. Um pop up this morning. It's a they make um I guess boats. Um I don't know. I'm not I mean I kind of don't even really think of that as the type of company that'd be publicly traded. But I guess it you know, anything could be publicly traded. Anyways, they make motorboats. And um so not really like the type of stock that you would expect to go up like 2 300% right? It's not a AI tech company. It's not a biotech company. It's you know, sort of consumer discretionary goods. So um Anyway, so that one popped up. No no trade on that one. GLE was our leading gain of this morning. It's got an almost 100 million shares of volume. Um had to move after hours, then squeezes up again. This was a little bit of a distraction, I think. I wouldn't be interested in it because of the price. Um but other traders like it. So that's our leader. Uh RTX, another one up a a decent amount, higher float, no interest. Then we have ATRA. Then we have AGL. Price is higher on that one. I don't know. Um AAON So, you know, today was just a day where we had kind of split attention. There wasn't anything that really felt um that it was suitable for me. And so I sat on the sidelines and I was patient. And so you know, Monday was solid, Tuesday red, yesterday we had some action, today nothing. So tomorrow, you know, maybe we get something. Now I will say one challenge in this market is knowing when to get aggressive. You know, I was aggressive on my first trade on Tuesday and I went red immediately. And then I stopped. But if I had taken a big position on that first trade, I don't know, you know, 30 or 40 or 50,000 shares and lost, I would have been down, you know, 15 10 15,000 dollars maybe. And that's a big loss. And then you know, would I be able to recover it that same day? And there was nothing else that moved. So, when there's fewer opportunities, you have to be a little bit more cautious, because if you go red, there may not be an opportunity to recover that loss on the same day. So, if you're more prone to get an emotional, this is definitely a market to trade with smaller size, so you don't dig a hole that's going to take you days or even weeks to recover from. Um so, you know, I'm I'm in a pretty good position here, but at the same time, I recognize that when I get into a drawdown, it can definitely weigh on me. I can get frustrated and disappointed, and then, you know, there's all the emotions that that can then feed into your trading, and so, I I have to try to build a cushion, and if I can get a cushion, then size up. And, you know, on my good days, I I get more than just one trade. We I might only be trading one stock, but I'll get, you know, a dozen trades on it or something like that. So, if on the first couple trades I'm a little under sized, cuz I'm building my cushion, I think that's okay, and then I can size up once I start to get myself in the driver's seat. Um and so, that's what I have to remember, you know, given that I had a no trade day today, it may be tempting tomorrow on the first stock that pops up to swing really hard, because I want to get on base, but then if I have a strikeout, I'm going to go into the weekend with a loss, and I wouldn't feel so good about that. So, I've got to make sure just to be okay with no trade days, and be okay with slower days, and remember that when we have something that's really strong, and it proves itself, I know what to do. So, rather than trying to anticipate that something is going to make a big move, wait for it to make the big move, and then, you know, trade as it continues higher. So, that's going to be a little more conservative, but it's a little safer when the market's cold. When the market's hot, and you take a big loss, you can make it back within an hour cuz there's so much opportunity. That just isn't the situation that we're in as of right now. So, overall market S&P 500, um you know, a big rally here from the low point down at the end of March to now, the market's up 17%. That's amazing. That is a big rally. Now, that would be if you bought the very bottom and you're you know, at right now, which most people of course have been in. You know, you just keep adding a little bit of money, you add a little bit of money, whatever. Um year to date, the market um isn't up as much because January we were up and then we sold off. But, that just shows the volatility that we're seeing even in the overall market. IWM, um the Russell uh 2000 index is also at all-time highs, so that's good. Um USO, United States Oil Fund, oil prices are coming back down. GLD, gold, um you know, still up quite a lot, but um off the the peak that was in January. So, you know, at this point I I would love to see a nice um tech headline um you know, at some point in the next, you know, week or so, that we could get a 3 400% move on, but uh in the meantime, I'm going to be patient. I'm going to try not to overstay my welcome and not get caught into trading stocks that um you know, just are giving me enough caution flags. I got to make sure I'm paying attention to those. So, with that, I will see you guys back at it first thing tomorrow morning. Reminder as always, trading is risky. My results aren't typical, so manage your risk and practice in the simulator before putting real money on the line. And if you want to check out some of the other uploads I have here on YouTube, I'll put links to them um right here at the end of this episode. I'll see you tomorrow. I'll be streaming at 7:00 a.m. for members at Warrior Trading. All right, enjoy the rest of the day and I'll see you first thing tomorrow morning.