Hey everyone, Ross Cameron here! Today was another very interesting day in the world of day trading. The market proved to be a bit rocky, and if you’re like me, those days can feel almost like a roller coaster. With highs, lows, and a few unexpected turns, it was a reminder of why I love day trading but also why I approach it with caution. Let’s dive into today’s recap!
The Morning Grind
I kicked off today bright and early at 6:30 a.m., eyeing the leading gainer, BNRG, an energy stock with a low float of 1.6 million shares. Despite its strong volume, trading roughly 80 million shares, its cheap price made it tricky for day traders like me. Using my broker, LightSpeed, I find that cheaper stocks come with a high cost in fees, making penny stocks less appealing. That’s why I passed on BNRG, aiming to avoid unnecessary fees and keep my focus on more predictable stocks.
Finding My Groove
It wasn’t until around 8:00 a.m. that BCDA caught my attention. The stock was on the rise, and although offerings usually aren’t my cup of tea, this one seemed different. The price was set at $3, and curiosity got the best of me. I took the plunge, and that first positive trade brought in $1,127, breaking the ice for the day.
Another scanner hit was QNTM, a familiar stock. It had news and a smaller float, which made it interesting. I jumped in, secured a quick $576, and then managed a close call with ATPC that ended up in a $47 gain. After some losses and gains, I was back to fighting my way through the rough patches, ending up with a modest gain of $1,751 by the end of the day.
Balancing Risk and Reward
The lesson of the day was to play it safe, especially with the long weekend ahead. Days like today remind us that not every day calls for aggressive trades. It’s about finding the right balance and knowing when to ease up. Today was one of those small win days, which help build up over time through consistent, mindful trading.
The Bigger Picture
Reflecting on my progress, I’m thrilled to close out August on a positive note. Over the last 90 days, my trading streak has grown, and I’m thankful for the consistency the market has offered. My current goal is to hit at least $1,000 a day, which sets me up for a potentially strong finish to the year (Results not typical).
Looking Forward
As we approach the end of the year, I believe the market holds more opportunities. While my results are not typical, staying disciplined and patient can help any trader make the most of what the market presents. As always, my journey as a day trader continues, and I look forward to sharing more updates with you all. Thanks for tuning in, and 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.