$ACB Misses Earnings But We Entered Either Way | $500 Account Challenge Day 18

Level up your trading game with this heart-pounding $500 account challenge story! We dive into the emotional rollercoaster of earnings season, where a well-timed trade on $ACB gets rattled by unexpected news. But fear not, this ain't your mama's trading! We explore the crucial skill of sticking to your plan, even when the market throws curveballs. Learn how to avoid panic selling and develop the discipline to become a smarter, more confident trader. Buckle up, this ain't just about $ACB, it's about taking control of your trading journey!

June 20, 2024
Meta Matt

Day 1 : Building a Watchlist and explaining the strategy
Day 2 : $PLTR Trade Idea 
Day 3: Buying $HOOD
Day 4: Up 5% on $HOOD
Day 5: Entered $UA Trade
Day 6: Trading In Puerto Rico
Day 7: Introducing Beacon
Day 8: S&P 500 Record Highs

Day 9: Robinhood Makes Moves Into Crypto
Day 10: Roaring Kitty Meows
Day 11: $GME Trade Idea
Day 12: $NIO Trade Entry
Day 13: Taking Profits In $HOOD
Day 14: Stopping Out Of $UA
Day 15: Stopping Out Of Everything
Day 16: No FOMO
Day 17: 6 New Trade Ideas

Aurora Cannabis Earnings

Aurora Cannabis reported earnings for their fiscal fourth quarter 2024 this morning, exceeding revenue expectations but falling short on EPS. The company brought in $67.4 million, a 5% year-over-year increase, with their high-margin global medical cannabis segment leading the charge with a 20% sales jump. This translated to net revenue of $45.6 million. However, the company's earnings per share (EPS) landed at -$0.18, missing analyst forecasts of -$0.13.

This mixed bag of results comes amidst continued challenges in the cannabis industry. While Aurora Cannabis is showing positive movement in its medical marijuana segment, profitability remains elusive. Investors will be watching closely to see if the company's efforts to streamline operations and focus on high-growth areas translate into future quarters.

Our $ACB Trade

Today was a nail-biter for my $500 account challenge! I entered $ACB according to my trading plan, but then freaked out a little when I remembered earnings were being reported today. My trading coach, Jay (the trading coach whose analysis/strategy we are trading off of), had mentioned the earnings date, and that had he known about it we might not have entered this play, but thought it wouldn't be a major factor even so. Now, with the news swirling, doubt crept in – I thought it myself, should I jump ship and exit the trade?

Luckily, Jay emphasized the importance of sticking to the plan, especially for smaller accounts. We're only risking 1% per trade, an amount we can afford to lose while we learn. Panicking over every news event or earnings report can lead to rash decisions and missed opportunities. We don’t want to fall victim to over-analyzing every trade, that’s stressful. By following the plan and trusting the analysis, we can take the emotion out of trading and focus on building long-term discipline. This might mean holding $ACB through the earnings dust-up, or it might mean exiting based on pre-determined stop-loss parameters. Either way, sticking to the plan is key! So far we are up on this trade! Let’s see if we burn (puff puff) the shorts!

$SWBI Trade

We are looking for the price to break below $13.77 and then have a 4H candle close back above $13.77 for entry.

Stop Loss at the low that was formed before the price broke back above $13.77.

Targets are $15.81 and $20.45.

$CCL, $UA, $GME and $SYM Near Our Entry Levels

$UA is getting close to entry. Once we get a 4H candle close above $7.00, then I’m setting a limit order buy at $7.00.

$CCL is getting close to $16.24. Once we get a 4H candle close during regular trading hours above $16.24, I’m setting a limit order (allocating $113) at $16.24. Stop Loss: $15.53. Targets: $17.68, $19.74.

$SYM and $GME are getting close to entry too!!

TraderSync Update For $ACB

I am also using TraderSync to update my trades. You can check out my past blog going over how I am using TraderSync for these plays.

As you can see we are only risking $5 on this trade, meaning that if we stop out we are only losing $5, which is 1% of our total portfolio.

I used the 1H strategy (check out our coaching program to learn how that works). I am also writing down that we entered right after earnings, so we can see if there will be patterns regarding earning plays for our trades.

Interested In Having Jay As A Trading Coach So That He Can Teach You The Strategy He Uses To Find These Setups? Click Here!!

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