Hey everyone, Ross Cameron here! Well, we’ve reached the end of a short holiday week, and it was quite the slow one for day trading. Despite the slower pace, I’m pleased with how it wrapped up. Let’s break it all down in today’s recap.
This Week’s Performance
This week was naturally slower because of the Memorial Day holiday on Monday. These holiday weeks often see reduced liquidity and volume as many big players take time off. It’s typically traders like us who stay in the trenches daily that feel the pinch.
It wasn’t an exciting week, but I managed to lock up $1,457 today. Averaging about $1,500 a day over the week, I’m ending up around $4,500. Not a home run, but it pushes the month up a bit. Overall, I’m looking at just over $40,000 in gross profit for May.
When I sat down this morning, I saw some interesting moves. SMMT was one of them. After a slow start, it suddenly squeezed from $8 to $10. I managed to get in on a micro pullback and made a small profit, though it wasn’t a big position.
Another stock I traded was NVOS. It broke over a dollar, and I took a long position. However, it was choppy and hard to trade, leaving me with a small loss. Despite that, I’m overall happy with the performance given the slow market conditions.
Unusual Movers: LPA and SMMT
LPA was another story. It kept halting with no liquidity, making it risky. The spread was crazy, and even small trades felt like lotto tickets. I saw a big move yesterday and decided against trading it due to the risks.
SMMT, on the other hand, was a bit more predictable. It squeezed up, and I traded it with caution. Although I was up $128 net, it wasn’t enough to make a significant impact.
End of Week Thoughts
As the week closes, I’m up $50 on the day, which isn’t much. The momentum was slow, and the overall market is pulling back a bit. I wasn’t expecting a strong Friday, given it’s the end of a holiday week. There’s always a chance for a wild card stock move, but it’s unpredictable.
I’m not sticking around for any potential late-day surprises today. It’s better to enjoy the rest of the day and be ready for Monday morning.
Wrapping Up
Day trading is always risky, and results aren’t typical. It’s essential to manage your risk and take it slow. Hope you enjoyed the recap and learned something new. If you want to stay updated with my day trading journey and tips, stay tuned for more posts. Have a fantastic weekend and happy trading!
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