Hey everyone, Ross Cameron here! Let’s dive into today’s blog where I’ll recap the trades I made, break down my entries and exits, and discuss how I selected the stocks to focus on. It was a solid day with $7,235 in profit (results not typical), and I’ll give you an update on my 100K goal for July. Let’s discuss the details!

Monthly Goal Progress

For those wondering about my $100K profit goal for July, the good news is I have surpassed it (results not typical). With just four trading days left this month, including a wildcard Friday, I’m setting new targets. I’m optimistic about continuing this momentum into August.

Overview of Market Sentiment

My day started early with a market scan around 6:30-6:45 AM. PBM caught my eye, but despite its fast movement, I decided it wasn’t worth the risk. MEA, however, showed potential and became my first trade of the day.

Trade 1: MIRA

The initial move on MIRA looked promising. I entered at $2.95 for a breakthrough 3 and managed to squeeze up to $3.80. My profit was $470. I kept my position size at a max of 5,000 shares until I hit $1,000 in profit, ensuring I stayed within my risk parameters.

Trade 2: POAI

POAI was tricky. It initially popped right as it broke $1.50 and I added at $1.58, $1.60, and $1.63. I made a small profit of around $100 initially, but with continued entries and exits, I ended up with $4,400 profit (results not typical). However, due to larger share sizes, the fees and commissions were significant.

Trade 3: ZVSA

ZVSA looked good initially, but I entered at $4.50 and had to stop out at $4.20, resulting in a $589 loss. Losses are part of day trading, and it’s crucial to cut them short to protect the overall profit.

Trade 4: CMAX

CMAX gave me an opportunity to recoup. I entered at $4.70 and took profit at $4.85 and $4.90. Another entry at $5 helped me make $1,675. This trade increased my confidence after the loss on ZVSA.

Trade 5: SLRX

SLRX was a good performer today. I entered early and enjoyed a squeeze move making $1,230. It was a smart move given the previous day’s performance of the stock, showing a pattern I could exploit.

Trade 6: BLMZ and 7: BBLG

BLMZ and BBLG were not as smooth. Both were choppy with quick movements leading to fragmented trading patterns. BLMZ was a $355 gain and BBLG was a $357 loss, so I was pretty much breakeven between the two.

Detailed Trade Analysis

POAI was a tough one with multiple entries and exits. It stalled out often, creating a challenging trading environment. Similarly, ZVSA had to be exited quickly to prevent larger losses. CMAX’s strategy during squeeze moves helped recover from red sessions. SLRX showed small profits but in a volatile market.

Market Continuation Patterns

Continuation setups like MIRA and SLRX can be promising for me. These stocks saw good volume spikes and trend reversals, making them worth watching. However, it’s essential to be cautious and watch for misleading headlines or spurious news.

Avoiding Common Trading Pitfalls

Overtrading can be tempting, but it’s vital to manage daily goals and recognize when to stop. Identifying and reacting quickly to “jack knife” reversals can prevent significant losses.

Best Practices for Trading

Each day should start with a clean slate. Adapt to market sentiment and focus on stocks with strong continuation potential. Gradually increase position sizes upon achieving the daily profit threshold, and always manage risk wisely.

Conclusion and Final Thoughts

In conclusion, today was a successful day with a diverse set of trades and a solid profit of $7235 (results not typical). The key takeaway is to stay disciplined, use scanners effectively, and manage risk. Always remember that trading is risky, and practice in a simulator before putting real money on the line.

(Results not typical. Trading is risky, and it’s crucial to practice in a simulator before using real money.)

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 RossCameron.com and Tirekickers.com

Check out my articles on Business Insider and Entrepreneur

Make sure to follow my YouTube Channel

Check me out on Facebook

Watch behind the scenes on Instagram

Stay connected with me on X

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.