Greetings, fellow traders! Ross Cameron here, returning with another day trading debrief, and today’s session offered a rollercoaster ride of emotions. The month had been cruising in the positive zone, but today threw a curveball. Early trades dipped into the dreaded red, raising a caution flag. But here’s the thing: sometimes, stepping back is the smartest move. By 10:30, I heeded the market signals and called it a morning wrap. A two out of ten for today’s performance, maybe, but that’s okay.
Market Whispers and Calculated Choices
The S&P 500, yesterday’s champion, was holding back, giving back half of its previous gains. Not panic-worthy, but it set a less bullish backdrop. My top gap scan highlighted $SNTG, a tempting gapper. But its recent history – a surge followed by a complete retracement – screamed caution. It’s like a honey trap for traders; they hold on, creating resistance as it spikes. Pass.
$BTBD caught my eye next, fueled by an early jump, but the volume was whisper-thin. I took a couple of trades within its range, but ended up in the negative. Shorting? Risky business with its infinite loss potential. Besides, long trades offer sweet tax advantages in my retirement account, and that’s where my comfort zone and expertise lie. So, no shorts, even if they seem tempting.
Market Gems and Strategic Retreats
$MCRB, $SSY, $CUTR, and $NEXI were other intriguing stocks today. Some fizzled out like failed fireworks, while others hinted at promising setups. $NEXI, a recent big mover, rocketed 85%, tempting me with memories of its previous action. But I felt uncertain about it, and knowing when to walk away is trader wisdom. Risk tolerance and opportunity don’t always align, so sometimes, you take a raincheck.
Balancing Risk and Green Gains
A juicy Chinese IPO tempted me to linger, but risk management is my mantra. These first-day beasts are unpredictable, and preserving capital trumps potential windfalls. So, I locked in a modest green, not for bragging rights, but for the bigger picture. Fewer red days mean a higher daily average, and that’s my true victory.
Strategies for Peak Performance and Beyond
Disconnecting is my secret weapon. Shutting down charts and platforms severs the market’s emotional tug-of-war. No FOMO, just mental freedom to focus on other things. I thrive within my peak trading window (7:00-11:00 AM), grabbing hot opportunities during those golden hours. Tomorrow’s a fresh canvas, and I’ll be back with laser focus to conquer that window again.
Remember, folks, trading is a risk-filled journey. My results are unique, not your blueprint. Manage your risk, simulate before going live, and learn from every bump on the road. This blog is just a snapshot of my evolving strategies, wins, and lessons. Whether you’re flying solo or joining a community like Warrior Trading, remember: success isn’t guaranteed. Make informed decisions, embrace calculated risks, and constantly adapt to the ever-changing market dance.
Happy trading!
Stay Social
Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
Check out Ross’s newest book, How To Day Trade: The Plain Truth.
Learn more about penny stocks here.
Stay connected with us on our social media pages below: