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  • Writer's pictureTrader Stewie

How AoT Traded $RIOT for +15%!!!

Hi Folks,

The Art of Trading strategy has been working quite well for us this year! I just wanted to do another quick blog post on how Art of Trading traded $RIOT for +15% in 1 trading day last week (08/10/22 - 08/11/22)

At the end of the review I'd like to update everyone on the 2022 YTD performance which now sits at +36%~! We achieved this through a series of base hit, tactical trades which I've been stepping everyone though with our recent series of blog posts found here!

Ok, so how did Art of Trading trade $RIOT for +15% in 1 trading day?

$RIOT is a stock that we’ve been keeping our eye on for a while. I originally tweeted it on my @traderstewie twitter feed with these thoughts here. It’s a quick mover and quite volatile so I wanted to wait for a small ranged day that we could tactically get long against with a reasonable stop loss. On August 10th we were given that opportunity and went long @$8.56!

The coiling pattern I mentioned in the alert tweet was the series of small ranged candles that slowly built from days prior. Contraction leads to expansion. These types of small ranged multi-day moves can oftentimes produce EXPLOSIVE results!!!

Here was the alert tweet here:

$RIOT wasted no time at all that day and quickly made big move which essentially gave us a technical breakout!

“The best trades work right away!!!”

It continued to show strength through out the day and broke out above $9. This set us up nicely for the next day!

The very next morning $RIOT exploded higher pre market! Basically, touching our first $10 target. I tweeted my intentions quickly to Art of Trading members and my plan moving forward:

We quickly took advantage of the gap up open that morning and sold half of the position!

“The best trades work right away!!!”

Here was the alert tweet here:

Later that day we sold the second half of $RIOT. It started to close weak and formed a Gravestone Doji type candle. These types of candles can signal a potential short-term top and I wanted to make sure we took FULL ADVANTAGE of a quick 15% gain. So, we closed the trade out for big profits over the span of just one day!

So how have all these short term trades been adding up throughout the year?

The 2022 YTD performance of the Art of Trading short term trading portfolio sits at +36%~!! This is how we achieved it:

I hope this review has been helpful!

Cheers and Happy Trading!

Art of Trading

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