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.
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.
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!
Check out Ross’s newest book, How To Day Trade: The Plain Truth.
Stay connected with us on our social media pages below: