Hey everyone, Ross Cameron here, back to share my journey navigating the stock market on the second trading day of 2024. In these blog posts where I recap my day trading, I aim to provide insights and experiences that shed light on the world of day trading. Today, I’ll talk more about my trades on $NEXI, $SIDU, and $SASI, which helped me secure over $4000 in profits, and how I navigated the trading day.
Seizing Opportunities with NEXI’s Surge
The day kicked off with a major highlight – $NEXI popping up over 200% on my gap scanner during premarket activity without any groundbreaking news. This stock had previously seen a staggering rise from $2 to $12 per share in December. Keenly observing its movements, I was able to capitalize using my scalp trading strategy, bagging gains totaling around $2400.
Alongside $NEXI, I also traded $SIDU and $SASI, where I encountered moments of substantial gains followed by slight pullbacks. Despite these fluctuations, I managed to pocket approximately $1800 in combined gains from these stocks. My trading on those three stocks contributed to my overall profit of over $4000 for the day.
Strategic Exits and Prudent Decisions
As the day progressed, the afternoon market lacked the momentum I sought. Recognizing the limited potential for further gains, I made the conscious choice to close my positions on the earlier stocks. Understanding when to step back rather than risking unnecessary losses is a crucial aspect of my trading philosophy.
Embracing Informed Trading
While enticing opportunities surfaced during the day, I prioritized sticking to my established trading criteria. By resisting the urge to chase trades that didn’t align perfectly with my strategy, I avoided the trap of FOMO. Upholding discipline and refraining from impulsive decisions is a fundamental principle that guides my trading journey.
Parting Wisdom
Concluding the day with over $4000 in profit from trades involving $NEXI, $SIDU, and $SASI, I acknowledge that not every trading day is a blockbuster. It’s crucial to remember that trading is a continuous learning curve, where some days offer small wins and missed opportunities. The key lies in maintaining discipline, adhering to a trading plan, and learning from each experience.
Closing Thoughts
Trading is akin to a marathon, not a sprint. Consistency, discipline, and a mindful approach are paramount. As always, I recommend practicing in a simulator before engaging with real money and adopting a cautious yet informed trading strategy. Take your time, keep learning, and remember, the market will always be here. Here’s to embracing the journey and evolving as traders. Happy trading, everyone!
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