Navigating a Volatile Market Week
Hey everyone, Ross Cameron here! We’ve reached the end of an exciting trading week, and let me tell you, the market action did not disappoint. From large caps to penny stocks, there have been thrilling movements across the board. Let’s dive into the recap!
Key Stock Highlight: CING
One of the standout performers this week was CING. When I checked my morning scans, CING was already up 80%, which was a shocker. Over the last two days, it soared by a staggering 971%. Yesterday, it was my top trade, and while I dived into trading it again today, the experience was a bit more challenging. As the share price rose, the spreads widened, and the volume thinned out, making it tricky to navigate.
Trading Challenges with CING
Today brought its fair share of challenges with CING. The liquidity wasn’t as favorable, which led to larger spreads and more volatile price swings. At times, it felt like navigating through a minefield with sudden drops that could wipe out positions quickly. I know some traders found themselves frustrated, getting caught in these traps and taking losses.
Daily Trade Routine
Each morning, I start by pulling up my scans bright and early. Today, CING was a surprise appearance due to its pre-market action, likely triggered by European traders reacting to news. My first trades kicked off at 7 a.m., where I managed to secure a $900 profit on the initial bounce (Results not typical).
Mid-Trade Challenges
Just when I was in the groove, my internet decided to throw a curveball. A brief disconnect happened right as CING was making a pivotal move. By the time I reconnected, I had missed a key trade. Despite these hiccups, I persevered and continued to adapt.
Performance Reflection and Strategy
Today’s profit totaled +$2,534 (Results not typical), which may not be a monumental win, but I’m grateful for every green day. August is shaping up well, with a current total of $61,000 for the month (Results not typical). My goal is to stay focused and consistent, striving for that $100k milestone this month. It’s important to repeat a solid process that can be relied upon regardless of market ups and downs.
Conclusion on Current Market Insights
As I reflect on this week, I’m reminded that consistency is key. Every day may bring different challenges, but sticking to a disciplined approach pays off in the long run. Remember, my results are not typical, and trading carries risks. So keep learning, stay cautious, and enjoy the process. Have a great weekend!
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Disclaimer: The results shared are based on my personal trading experiences and are not typical. Trading involves significant risk, and past performance is not indicative of future results. Always practice in a simulator before trading with real money.
