Hey everyone, Ross Cameron here! In today’s blog, I’m breaking down my trades to give you a better understanding of my strategies. I’m really impressed with the price action on MLGO, RGS, and VLCN today. Each had some huge moves off their lows. Let’s dive into how my day went and what I learned from trading these stocks.
Overview of Today’s Trades
I traded MLGO, RGS, and VLCN today. MLGO hit a low of about $11 and climbed to $19.90. VLCN moved from $6 to over $12, and RGS went almost 300% up before pulling back a bit. While none of these trades were my biggest winners, I ended the day green across all three.
MLGO Trade Analysis
MLGO continued its climb past $11, reaching nearly $20. I initially jumped in as it broke over $12.50, entered at $13, and my first trade yielded $2,000 by 7:15 AM (Results not typical). I did not participate in the latter leg of MLGO’s move due to high spreads, which made it risky. For instance, buying and instantly being down 7 cents a share can result in $1,400 losses with just 2,000 shares.
RGS Trade Analysis
RGS was exciting but also challenging. It peaked at nearly 300%, which was impressive. The stock being easy to borrow meant lots of short sellers could hit it quickly. I watched for topping tails and resistance around $10. Once it broke above $10, I stepped in but remained cautious due to its volatility. I made $2,300 on RGS by trading through its dips and spikes (Results not typical).
VLCN Trade Analysis
VLCN doubled in value today, climbing from $6 to over $12. While I didn’t trade it as aggressively as the others, its quick move was noteworthy. It’s a good example of how fast stocks can move in volatile markets. This reinforced the importance of watching for early signals and managing risk carefully.
Traveling Trading Setup
I’m on my traveling trading station today. My setup includes a laptop and two skinny USB monitors by Aus. They’re portable, fitting right into my carry-on. Though they cost $200 each and are fragile, they offer a compact and convenient way to trade while on the go. This setup makes it easy to stay connected and manage trades from anywhere.
Trading Challenges
Today’s volatility posed a big question: how hard do I push? Balancing aggression and caution is key. I saw some traders hitting max loss today, while others said they had their best day in months or even years. Extended moves can trigger FOMO (fear of missing out) and frustration. It’s essential to manage these emotions and stick to your trading plan.
Managing Risk and Emotions
I managed to stay green today with a P&L of $4,542.97, close to my $5,000 daily goal (Results not typical). My biggest loss was around $500, and I never went red. Keeping risk in check is crucial. High-spread stocks, like MLGO, can turn a small mistake into a big loss quickly. It’s important to know when to step back and reassess your strategy.
Conclusion
Today was a solid day, and I’m grateful for the gains. Trading is risky, and my results are not typical. Always manage your risk and practice in a simulator before using real money. I’ll be back in my office tomorrow, and if you’re interested, join me for a 14-day trial.
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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.