Hey everyone, Ross Cameron here with a recap to close out the week, and what a Friday it was! The day turned out to be a wild card, full of unexpected moves and great trading opportunities. I didn’t see it coming, but that’s what makes day trading so exciting. Imagine a 400% squeeze in under 30 minutes! That’s what happened today, and I ended the day $6800 in the green.
Even though I made a good profit, I could have done better. Yesterday was a red day, and I was cautious. I actually started today in the red before things turned around. But then, one stock went bananas, and I managed to ride the wave, though not as well as I’d hoped. Let’s break it down in today’s recap!
Good Risk Management
I traded four different stocks today but was green on only one. But that’s what solid risk management is all about. Today was a textbook example of cutting losses early and letting winners run. I had three small losses and one solid winner. The net profit for the day? $6,800!
The First Trade: LGVN
LGVN was the first stock I traded today. This stock burned me yesterday, but it showed some action this morning, so I gave it another shot. I jumped in during a 10-second micro pullback at around $3.70. I bought 5,000 shares, my max position until I’m up over $1,000.
The stock went up to $3.90, and I was up $1,100. But then it dropped, and I had to sell at a small loss. It was frustrating, but that’s part of trading. LGVN ended up being my biggest loser of the day, down $344.
The Winning Trade: KAVL
Next up was KAVL. This stock hit my scanners at around $1.65. At first, I was cautious because there was no news driving the spike, and I had just lost money on LGVN. But then KAVL started to move.
I bought in during a micro pullback at $2.38 and made $400 as it popped to $2.60. I added more at $2.75 and $2.80, taking profits at $3 and then $3.25. It kept moving, and I caught another dip, riding it up to a high of $4. My best exit on this stock was $7.93. That was a +$7600 gain, and it felt great.
Failed Trades
Not all trades were winners today. I also traded VLCN and LIXT, which were small losses. I also had my eye on CNSP, which made a nice move from $5 to over $8, but I missed it. That’s day trading for you. You can’t catch them all!
Week Recap
This week wasn’t fantastic overall. Monday was a no-trade day because I didn’t see anything I liked. Tuesday was a small green day, and Wednesday was red. Thursday, I had a rough $10,000 loss.
June has been slow, but today was a wild card, giving me a good end to the week. I’ve been preoccupied with the upcoming GameStop shareholder meeting on Monday, which might create some volatility.
Closing Thoughts
To all my fellow day traders, manage your risk and stay focused. This week had its ups and downs, but today was a reminder of why we trade. The action is unpredictable, but that’s what makes it exciting. I’ll be back at it Monday morning, ready to catch the next wave.
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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.