Hey everyone, Ross Cameron here! Today, I want to share the details of my day trading session, breaking down each trade, my strategy, and how I managed to achieve a nice profit of $7,235 (Results not typical). We’ll cover everything from my entries and exits to how I chose the stocks to trade. We’ll also discuss market sentiment and risk management. Let’s dive in!
Morning Routine
I started my morning review around 6:30 AM, checking which stocks were moving. There wasn’t much at first, but I did notice PBM and MIRA showing some activity. PBM was already a penny stock from the previous day, so I was cautious. MIRA, however, started to look promising.
Trades Overview
Here’s a quick summary of today’s trades:
- MIRA: +470.56
- POAI: +4450.50
- ZVSA: -$589.89
- CMAX: +$1,675.33
- SLRX: +$1230.78
- BLMZ: +$355.66
- BBLG: -$357.70
Trade Entries and Exits
MIRA
I took my first trade with MIRA at around 7 AM. I entered at $2.95 and exited at $3.80, making $470. I chose MIRA because it was showing a strong upward trend and had news that looked promising. It was a cautious start since it’s always important to manage risk carefully on new trades.
POAI
Next, POAI hit my radar. It showed potential with an initial high of $1.68. I entered at $1.50 and made several quick trades, netting a total of $4,000. POAI had a headline that excited the market, but it was a bumpy ride with some stalling and pulling back.
ZVSA
Unfortunately, not all trades were winners. I went in on ZVSA at $4.50, but it quickly reversed, and I exited at $4.20, taking a $589 loss. It had the right setup initially but didn’t follow through as expected.
CMAX
CMAX gave me a good run. I entered at $4.70 and took profits as it moved up to $4.90. I added back at $5 and made $1,600. CMAX had a clean setup with a strong upward movement.
Stock Selection Criteria
Finding the right stocks is crucial. I usually start my scans early in the morning, around 6:30 AM. Stocks that show a high volume and significant price movement usually catch my eye. I look for stocks with news, but the volume and liquidity need to be there to make a trade worthwhile.
Daily Goal Achievement
Today, I exceeded my daily goal which is a success (Results not typical). Setting a daily goal helps in maintaining discipline and managing risk. It also allows for a structured approach to trading and sticking to a plan.
Conclusion
Overall, today was a solid day with multiple successful trades and some lessons learned from not-so-great ones. It’s all part of the journey in day trading. Remember, trading is risky, and results are not typical. Always manage your risk and practice in a simulator before using real money. Thanks for tuning in, and I’ll see you again tomorrow!
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