Hey everyone, Ross Cameron here! As we wrap up the month of April, today was a refreshing return to form with a successful trading day that not only helped me recoup yesterday’s losses but also added a nice splash of green to my monthly tally. Let’s dive into the intricacies of today’s market, examine my trades, and discuss how strategic decisions in day trading are akin to knowing when to steer or step back.

Climbing Back to Green

Today marked a significant recovery from yesterday’s slump, where I faced a modest loss of $483. However, bouncing back, I netted an encouraging profit of $1,832, contributing to an April total that’s close to $44,000! This makes April the second most lucrative month of this year, just behind February, where I hit a record $131,000.

Analyzing the year so far:

• January initiated a strong start with $36,000.
• February soared to great heights with $131,000 due to some phenomenal trades.
• March, although cooler with $20,000, had its own set of challenges and lessons.

Despite a couple of rough patches in March, the overall performance was robust, showcasing the volatile yet rewarding nature of day trading. Yesterday’s loss was just a minor setback in what has been a generally prosperous journey. As always, you can find my verified broker statements here.

Reflecting on Today’s Market Conditions

Today’s market didn’t present the big movers I thrive on; the leading gappers were somewhat low, peaking at just 47%. This absence of high-performing stocks initially dampened my spirits a bit, as I yearn for those big, momentum-filled moves. However, adapting to what the market offers is part of the day trading journey.

Why I Stepped Back from Several Potentials:

• CYCC: This stock showcased a dubious rise in after-hours, and history has taught me that such patterns often reverse harshly. Avoiding trades that begin after-hours is a rule I stick to, as they tend to lose steam by the time the market opens.
• AGBA: Repeated headlines about a merger didn’t tempt me enough to trade. It showed some promise pre-market but soon extended beyond my comfort zone in terms of risk, especially with its erratic pullbacks and extensions.
• GMM and WGS: Both were skipped due to unfavorable day trading conditions like low price and volume.
• ELYM: Didn’t show much activity in pre-market, which led me to pass on it.
• MYLN: The potential baggage of past heavy trading days made it less appealing. It seemed like a risky move that could end up trapping new traders.

However, AUUD was the stock that caught my eye today. News broke out around 8:00 AM, and with swift action, I bought the dip with an initial position of 2,500 shares, promptly doubling down as it appeared promising. The stock surged to a high of $2.77, and I exited around $2.35, securing a tidy profit of $1,800. This was a classic example of striking when the iron’s hot and made up for the initial gloom from the market’s slow momentum.

Strategic Trading Insights

Day trading isn’t just about aggressive moves; it’s equally about knowing when to hold back. Inspired by Annie Duke’s “The Power of Knowing When to Walk Away,” I find the comparison to New York City taxi drivers particularly relatable. On bountiful days, they hit their targets quickly and wrap up early, much like how I prefer to operate on high-profit days.

Given the scattered volume and less than clear market signals, pulling out with profits was the wise choice. Tomorrow opens a new month, and my goal is to focus intensely on high-quality setups to maintain accuracy and improve my profit/loss ratio.

Closing April with a Flourish and Prepping for May

As April folds with a strong finish, tomorrow’s fresh start for May promises new opportunities. My plan is to harness this momentum, optimizing trades that offer the best setups to ensure consistency and confidence. In conclusion, always remember: day trading carries inherent risks and rewards. It’s crucial to manage your risks well and move cautiously, especially on less predictable days. See you all bright and early tomorrow, ready to tackle whatever the market throws our way in May!

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.

You can learn more about me on his websites, RossCameron.com and Tirekickers.com

Check out my articles on Business Insider and Entrepreneur

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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.