Just Finished the Craziest Trading Day Ever!
To tell you the truth I don’t even know where to start. Today I made more trades in one day than I ever made in my 30 years of trading.
With my new Day Trading I started the day as normal, looking for gapping stocks. There were a few but when the market opened I concentrated on 2 of them.Both of them gapped up. I get more excited with stocks that gap down because at the open the stocks normally will move up. So I buy the stock. Today, both of my picks gapped up so to make money you have to Short the stock right after the open. I’m still not very comfortable with Shorting stock.
The 2 stocks were DWAC and CROX. I’m familiar with CROX which is Crocs Inc. DWAC I had no Idea what it was. Not until I did a little investigation!
I’ll talk about all the trades I made with each but let me start with DWAC.
Pre-market the stock was in the $8 area but popped up and opened at $12.73. I’m not sure but I think this was the first day of trading. It might have traded before but as a penny stock. Pre-market I looked into it. I found out that Donald Trump is starting a new social media platform called Trump Social. It’s not public yet but will be soon. This DWAC stock is a Spac with the name Digital World Acquisition Corp. For you who are not familiar with Spac’s, SPAC stands for Special Purpose Acquisition Company. This is the new way stocks raise money before they go public. This Spac (DWAC) is raising money for Trump’s new social media company. The way the stock reacted today I guess Wall Street thinks “Trump Social” will be a big hit.
At the open I did the usual thing. I watched the first few candles to see where the stock might go. I planned on Shorting the stock because of the gap up. However, from the get go the stock moved up and didn’t stop. The stock opened at $12.73 and when it kept going up I bought 1000 shares at $14.50. As soon as I bought it, I placed a Stop Loss order. I was stopped out at $14.85. The stock moved higher so I bought another 1000 shares at $16.30. With these shares I was Stopped out at $18. I can continue with me getting in and out but you might as well just look at the trades. The stock just kept going up. As I got more confidence I stayed in the positions longer, however, always having a Stop Loss on, but with more breathing room. It became the craziest day ever! As the day went on the trades got better! Check out how many trades I made. And not only with this stock!
10/21/21 – Buy 1000 Shares DWAC @ $14.50
10/21/21 – Sell 1000 Shares DWAC @ $14.85
Profit +$350
10/21/21 – Buy 1000 Shares DWAC @ $16.30
10/21/21 – Sell 1000 Shares DWAC @ $18.00
Profit +$1700
10/21/21 – Buy 1000 Shares DWAC @ $18.50
10/21/21 – Sell 1000 Shares DWAC @ $19.00
Profit +$500
10/21/21 – Buy 1000 Shares DWAC @ $18.50
10/21/21 – Sell 1000 Shares DWAC @ $19.00
Profit +$500
This is the only trade I was stopped out at, at a loss. This is what the Stop Loss is for!
10/21/21 – Buy 1000 Shares DWAC @ $18.90
10/21/21 – Sell 1000 Shares DWAC @ $18.50
Loss -400
10/21/21 – Buy 1000 Shares DWAC @ $19.10
10/21/21 – Sell 1000 Shares DWAC @ $23.00
Profit +$3900
10/21/21 – Buy 1000 Shares DWAC @ $23.50
10/21/21 – Sell 1000 Shares DWAC @ $25.50
Profit +$2000
10/21/21 – Buy 1000 Shares DWAC @ $25.50
10/21/21 – Sell 1000 Shares DWAC @ $30.00
Profit +$4500
10/21/21 – Buy 1000 Shares DWAC @ $29.40
10/21/21 – Sell 1000 Shares DWAC @ $36.50
Profit +$7100
10/21/21 – Buy 1000 Shares DWAC @ $39.00
10/21/21 – Sell 1000 Shares DWAC @ $43.00
Profit +$4000
10/21/21 – Buy 1000 Shares DWAC @ $46.50
10/21/21 – Sell 1000 Shares DWAC @ $48.50
Profit +$2000
10/21/21 – Buy 1000 Shares DWAC @ $45.75
10/21/21 – Sell 1000 Shares DWAC @ $48.75
Profit +$3000
The stock is pulling back so I decided to stop and write. As I write the market has 15 minutes to close. DWAC is at $42 but it’s high was $52. With this stock alone I made $29,150. Is that not the craziest thing ever? While the stock was going wild the trading was halted 4 times.
Now let’s get to CROX. The CROX trades would have been a great day on their own! With all of these trades I Shorted the stock then bought back the shares to end the trade. This is a much higher stock so I only traded 200 shares. You must understand Shorting if you Day Trade.
10/21/21 – Short 200 Shares CROX @ $151.50
10/21/21 – Buy 200 Shares CROX @ $147.50
Profit +$800
10/21/21 – Short 200 Shares CROX @ $145.80
10/21/21 – Buy 200 Shares CROX @ $144.80
Profit +$200
10/21/21 – Short 300 Shares CROX @ $145.50
10/21/21 – Buy 300 Shares CROX @ $144.50
Profit +$300
With CROX I made 3 trades for a total gain of $1300.
I’m not done. I made 2 other trades today. On Tuesday when I was Day Trading AEHR I held 1000 shares because I felt the stock would move up. I sold these shares today.
10/19/21 – Buy 1000 Shares AEHR @ $20.00
10/21/21 – Sell 1000 Shares AEHR @ $21.50
Profit +$1500
Also, I got out of a 5 contract Call I bought when MCHP split. After the split I ended with 10 contracts.
10/12/21 – Buy to Open 5 MCHP 6/17/22 $145.00 C @ $14.40
10/21/21 – Sell to Close 10 MCHP 6/17/22 C @ $9.20
Profit +$2000
It cost me $7200 to buy these 5 contracts and I sold 10 contracts for $9200. This is a return of 27.7% in 9 days.
If you have any questions on the split and how it works send me an email.
All of these trades were being made simultaneously. My fingers are sore! lol. Wild, wild day!
The craziest day EVER! Today I had a gain of $33,950
Successful trading,
Steve
The Options Coach