Hey everyone, Ross Cameron here! Today was one of those days in the day trading world where the market seemed less active than usual. Remember how yesterday we saw a lot of stocks that surged and then retraced? Well, I was cautious this morning because of that. Stocks like BPTH and MMPR gave us a roller-coaster ride, and some penny stocks did the same. Let’s dive into today’s recap!
Early Morning Scans and Promising Volatility
I started my day early, checking scans around 4:30 a.m. and then again at 5:30 a.m. Nothing stood out except for a spike in STAF at 400 a.m. But as expected, it faded. Despite a slow start, volatility kicked in, with STAF leading the pack, up by 175%. The second lead gainer shot up by 113%, and we had four more stocks each jumping over 50%.
Daily Trading Performance and Strategy
Today’s performance was good, but not the kind that gets you dancing. I finished the day with a +$6,372.84 profit (Results not typical) and traded green on four out of four stocks I ventured into. My approach focused on consistent smaller wins rather than waiting for a home run. This way, August is shaping up to be my second-best month this year.
In-Depth Stock Analysis
STAF
Initially, I was focused on STAF. It spiked early in the morning and again around 7 a.m. However, I hesitated due to lighter volume and tricky trades. I held back because it seemed a bit thickly traded. Though tempting, I decided it was better to skip. This cautious approach saved me some potential losses.
GDC
GDC was a challenge. This small-cap Chinese stock, known for its choppy behavior, had me in and out of trades. I started with a loss but gradually clawed back to green through careful share management and adjustments. Initially, I went red then green, faced more swings but ended up $3,600 in profit (Results not typical). It tested my patience and strategies, but adapting made the difference.
AIRI and AMS
AIRI was easier to manage despite this surge to $9. Its “easy to borrow” status suggested a lower risk of short squeezes. AMS, on the other hand, had everyone scratching their heads with a mid-morning surprise jump. I managed to grab a quick small profit from buying a dip but remained puzzled by the lack of clear reasons behind the spike.
Reflecting on Strategies and Lessons
Engaging in day trading successfully requires building a positive feedback loop. Focus on high-quality setups to sharpen accuracy and improve the profit-loss ratio. Avoid over-trading and adjust aggressiveness wisely. Today exemplified this with varying trade frequencies and share sizes, balancing risk while aiming for high returns.
Preparing for Future Market Days
As we look ahead to Friday, I expect more uncertainty. Fridays can be a mixed bag in the trading world, with the potential for unpredictable jumps in stocks with no apparent news. I’m ready to adapt and will be live streaming bright and early. For those interested, I invite you to join the Warrior Trading community. Remember, trading is risky, and my results are not typical. Stay cautious, practice, and happy trading!
Stay Connected
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.