Hey everyone, Ross Cameron here, and I’m back again to give you another recap of my day trading. As an experienced day trader, I always strive to share my insights and experiences to help readers understand how I tackle the stock markets on a daily basis. In today’s recap, I want to take you through my experience on the second trading day of 2024. From big moves on stocks like $NEXI, $SIDU, and $SASI, it was an eventful day in the market that helped me finish the day with over $4000 in profits. Let’s dive in!
NEXI Moves Over 200%
I spotted $NEXI on my gap scanner, as it was surging up over 200% in the premarket despite no significant news. The stock had previously seen a massive jump from $2 to about $12 per share in December. With such significant movements, I closely monitored the stock’s behavior, hoping to capitalize on the opportunities it presented. Fortunately, I was able to lock in about $2400 in gains on the name, thanks to the help of my scalp trading strategy. I also traded some other stocks, including $SIDU and $SASI. At times, I found myself up by significant amounts, only to give back a portion of the gains. Ultimately, I was able to generate about $1800 in total gains between those two stocks. That helped me bring in over $4000 of profit on the day.
Trading Maneuvers
The afternoon was spotty and not the best, and I made the decision to close up shop over my trades on the earlier stocks. I believe it’s important to recognize when a day doesn’t have the potential for further gains and the need to walk away rather than risking unnecessary losses. I emphasized the need to be cautious and to avoid overtrading, as I have learned when to hold and when to fold in trading through my years of trading experience.
Making Informed Decisions
Although I did see some tempting opportunities pop up, the setups didn’t meet all of my criteria. Rather then taking the risk and pushing it further, I acknowledged the importance of sticking to my trading strategy and not succumbing to FOMO, or fear of missing out. I emphasized the need to trade cautiously and avoid acting on impulse or succumbing to the pressure of making quick decisions. Although that might lead to missing certain opportunities, I know that maintaining discipline and sticking to my trading strategy will pay off for me in the long run.
Closing Thoughts
All said and done, I was able to finish the day with over $4000 of profit between my trades on $NEXI, $SIDU, and $SASI. Although it wasn’t the most spectacular day relative to some of my past gains, it’s important to remember that trading is a marathon, not a sprint. Every day won’t be a home run, and some days will be filled with small wins and missed opportunities. The key is to maintain discipline, stick to your trading plan, and learn from your experiences. As I always say, practice in a simulator before risking real money, and be cautious in your approach. The market will always be here, so take your time, pay your dues, and keep learning.
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