Analyzing Today’s Trading
Hey there, it’s Ross Cameron back again for another recap of my day trading! This Monday morning has started off on a high note as I’ve locked in some fantastic profits on a couple of stocks. Let’s dive into the day’s action and explore the strategies and trades that led to these results.
Starting the Week Strong
As I reviewed the market this morning, I noticed a strong gapper in the form of a penny stock. There were a couple of lower-priced stocks that made significant moves, with one of them ($PALI) making a notable 160% jump. However, today, I’ll focus my attention on the trades I made, particularly on the stock $REVB, which is currently up about 100%.
Trading RB: Analyzing the Chart
$REVB presented an intriguing chart, particularly with its recent reverse split. The stock exhibited significant volatility, with pre-market movements from $10 to $23.14, only to retrace shortly after. Despite the initial volatility, I identified an opportunity as the stock broke over VWAP, leading to a solid trade with a move up to $20 a share.
Managing Risk Amidst Volatility
Amidst the surges, halts, and wild movements, I managed to secure profits, albeit with smaller share sizes due to the stock’s liquidity and large spreads. While I was tempted by the potential gains with larger positions, I prioritized risk management and opted for smaller sizes to navigate the volatility.
Exploring Additional Trading Opportunities
In addition to $REVB, I also delved into trading $RVSN. Despite the lack of news and lower relative volume, I identified trading opportunities on $RVSN and managed to secure profits, leveraging strategies to capitalize on the stock’s movements.
Reflecting on Trading Decisions
As I navigated through the day’s trading opportunities, I reflected on the emotional and psychological aspects of trading, particularly during the start of a new year. I shared insights into my approach to managing the psychological pressure that often accompanies the quest to achieve certain profit milestones.
In conclusion, this Monday has been a fruitful day of trading, with solid profits locked in through strategic and disciplined trading. Despite the challenges posed by volatile stocks and market conditions, the day presented opportunities for profitable trades. As I continue on this trading journey, I aim to maintain a disciplined and risk-aware approach to capitalize on future trading opportunities while managing the emotional aspects that come with the territory. Thanks for reading, and happy trading!
Check out Ross’s newest book, How To Day Trade: The Plain Truth.
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