Hey everyone, Ross Cameron here! What a day it has been in the world of day trading. Today was a wild ride with several stocks making incredible moves. One stock even soared 500%–can you believe it? It’s been a fascinating journey navigating these momentum swings. Some stocks started as low as 20 cents, but those aren’t typically my bread and butter. Still, seeing them take off offers an exciting spectacle, and it’s hard not to feel a bit of FOMO, especially when they’re flying high. Let’s dive into today’s recap!
Current Market Momentum
Momentum continues to surprise many of us. This morning alone saw stocks squeezing up over 100%, with some incredible moves leading the charge. These crazy surges, while exhilarating, can be challenging to navigate. I’m used to trading in a slightly higher price range, so it was tricky deciding whether to jump into these explosive opportunities. While I did experience some FOMO, today’s market dynamics were nothing short of impressive.
Trading Strategies and Lessons Learned
Today’s excitement reinforced some key aspects of my trading strategy. Trading penny stocks, while potentially rewarding, comes with unique risks. They can offer refuge when markets are choppy because they often have fewer short sellers early in their moves. The trick is managing those risks and knowing when to be aggressive. I’ve learned that discipline and quick decision-making are vital, especially when stocks start reversing.
Today’s Trading Recap
Reflecting on today’s trades, I managed to stay in the green across the board. Starting with my first trade at 7 a.m. on AUUD, I navigated the spikes and dips that kept me on my toes. AUUD was a roller coaster, climbing from about $1.50 to touch nearly $3. The market’s unpredictability kept me cautious but also reminded me of the thrills that come with day trading. In total, I wrapped up today with $13,459.55 in gains, trading seven different stocks with a 100% accuracy rate on profitable trades! (Results not typical).
Historical Context and Performance
Looking back, this year has been phenomenally better than last year. My year-to-date gross profit sits at $653,000. Compare that to last year’s $389,000, and you can see the difference the market’s momentum has made. 2020 and 2021 were my peak years, with some extraordinary performances sparked by the pandemic. But this year’s market, while volatile, has brought back memories of those high-stakes days.
Reflections and Future Outlook
Every day brings a new lesson in the fast-paced world of day trading. The market’s unpredictability today was a reminder of why I love this. But it’s crucial to maintain focus on the process rather than the profits. As we look to tomorrow, I’ll keep my strategies sharp, anticipate potential new market movers, and aim for another productive day. Remember, while my results are not typical, consistency and learning are your best allies in day trading. Always practice with caution. Happy trading!
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Warrior Trading was founded by Ross Cameron in 2012. Today Warrior Trading is a thriving community of thousands of day traders learning to trade under the curriculum designed by Ross
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Disclaimer: The results shared are based on my personal trading experiences and are not typical. Trading involves significant risk, and past performance is not indicative of future results. Always practice in a simulator before trading with real money.