Hey everyone, Ross Cameron here! Today’s trading session was a rollercoaster. I woke up on this Monday morning ready to trade, but it didn’t go as smoothly as I hoped. Early on, I thought it would be a red day. My first three trades were losses, and I found myself down about $1,900. However, I managed to turn it around and finish the day strong. Let me walk you through it!
Early Trading Struggles
The day started with some tough losses. My first trade at 7:00 a.m. was a loser, followed by two more, which left me deep in the red. What kept me from hitting my max loss was that my losses were controlled and kept getting smaller. That’s crucial. You don’t want one loss to spiral out of control, digging yourself deeper.
My early trades were on a stock called SERV. It was top of my watchlist after showing potential from Friday’s action. It had some resistance around $9.71, and I expected it to break through. Instead, it dipped, and my attempt to catch the bounce didn’t work out. Each trade resulted in losses, and at that point, I knew I had to recover smartly.
The Road to Recovery
Despite the rough start, I wasn’t ready to give up. I switched gears and focused on other stocks like MLGO, CYN, and HEPA. While not all trades were significant winners, small gains started to add up and reduced my losses.
Then came MIRA, the stock that made a big move. This one had a lot of potentials, and even though I don’t usually trade stocks below a dollar, it showed momentum. I lost about $600 on my first attempt but managed to turn it around with a second entry after it broke the $1 mark. By taking more calculated risks, I brought my account back from deep red to a manageable position.
Turning the Corner
As the session progressed, I caught a break. Another trade on SERV finally paid off, swinging me from a $1,500 loss to a $1,500 gain. At one point, my account was up over $6,000. (Results not typical) However, I took a big position on CMAX looking for a breakout, and it didn’t materialize, costing me about $3,000. Despite this, I finished the day with a $3,700 gain.
Key Lessons
Today taught a few important lessons. Risk management is key. Don’t let losses spiral; keep them controlled and small. Knowing when to walk away is also critical. I followed my rule of stepping back after giving back nearly 50% of my gains. Finally, always stay focused. Trading can quickly turn around, but only if you remain disciplined.
Conclusion
Wrapping up, today was a reminder that every day in trading is different. While turning a red day into a green one is possible, results like mine are not typical. Always approach trading with caution and a solid strategy. My goal of hitting $100,000 for the month of July remains intact. Remember, the ups and downs are part of the journey. Keep learning and stay disciplined. Thanks for reading and see you back tomorrow morning!
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