Hey everyone, Ross Cameron here! Today was an interesting day in the world of day trading. It started out a bit rough, with my first two trades putting me in the red. I was a bit nervous going into today’s session because yesterday’s momentum was slow. In fact, yesterday was the first day in over a week where I didn’t break $10,000 (Results not typical). Despite that, it was still a green day with over $3,000 in profit (Results not typical), so I approached today with caution. Unfortunately, my fears were realized early on, but I managed to rally back and finish the day in the green.

Yesterday’s Context

Yesterday’s slower momentum was a heads-up for me. While I did end the day with a $3,000 profit (Results not typical), it wasn’t as hot as the previous days. This led me to approach today cautiously, knowing that the market might not be as forgiving. I didn’t break the $10,000 mark like I had been doing, which made me wary of today’s trading session.

Today’s Trading Strategy

Given the slower momentum yesterday, I decided to approach today with extra caution. My goal was to not go too deep into the red and maintain my composure. Unfortunately, my first two trades put me in the red, making me nervous about digging a deeper hole. However, I stuck to my plan and made smart moves to recover and end the day in the green.

Morning Trades Overview

I started my day at 7:00 AM, earlier than usual, hoping to catch some good early trades. However, I noticed that we didn’t have any strong gappers, which made me a bit apprehensive. Despite this, I went ahead with my first trade on SHIM.

Key Trades

SHIM

I jumped into SHIM at $3.18 with 5,000 shares. The trade didn’t go as planned, and I quickly lost $86. Including commissions, I ended up down $117 right off the bat. Not the best way to start the day, especially with no strong gappers to boost my confidence.

ADTX

The next trade was on ADTX, which I entered at $3.26. This one hit me harder, resulting in a $547 loss. My accuracy was actually 50% on ADTX, with one winning and one losing trade, but it certainly didn’t feel that way at the moment.

After these initial losses, I had to keep my cool. There was a real risk of going deeper into the red, but I knew I had to stay focused. The key was not to panic and to stick to my strategy. It’s crucial in day trading to maintain composure and keep emotions in check.

LCFY

LCFY was a familiar stock from last week that had shown some good movement. I took a starter position but only managed to fill 268 shares. Despite the small size, the trade went well initially, and I peaked at about $2750 in profit on LCFY (Results not typical). However, the stock didn’t hold up as well as I had hoped, leading to rejections and a dip in my gains.

ZAPP

The ZAPP trade was based on a daily setup strategy. I was looking for the first candle to break out. Unfortunately, this trade didn’t go as planned either. I lost $1,900 on the first trade and $300 on the second, making it my biggest loser of the day.

GDTC

GDTC came out of nowhere and made a significant move from $2.50 to $5. I got in on the action quickly and managed a few profitable dip trades. However, the stock didn’t hold its gains and retraced almost the entire move, making it a tricky one to trade. I still managed to lock in +1735 on the name, though.

By mid-morning, my P&L was a roller coaster. I went from being down $800 to up $2,300, and then back down to $1,100. At this point, I considered walking away for the day. I knew that commissions were eating into my profits, and the market wasn’t showing strong momentum. All said and done, I finished the day +1154.

Closing Summary of Trades

Overall, I finished the day green on four stocks and red on five stocks. My accuracy might not look great at first glance, but the fact that my average winners were larger than my average losers helped me stay in the green. It’s a reminder that in day trading, it’s not just about the number of winning trades but also about managing the size of your wins and losses.

Reflecting on Today’s Market

Today’s market was slow, and momentum was lacking. While I did manage to end the day in the green, it wasn’t without its challenges. The key takeaway is that maintaining composure and sticking to your strategy can help you recover from early losses and still finish strong.

Conclusion

Wrapping up today’s trading recap, it’s clear that day trading can be a roller coaster. My results are not typical, and it’s crucial to manage risk and stay disciplined. Remember to manage your emotions, stick to your strategy, and always be mindful of the risks involved.

Thanks for tuning in, and I’ll see you back here for tomorrow’s recap.

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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.