Hey everyone, Ross Cameron here! Hope you all had a solid week. For me, this week was a total turnaround compared to last week, and I wanted to share what went down. Stick around if you want to know how I turned a chaotic red streak into a +$3,700 Friday and what changes I made to get there.
The Rollercoaster of Last Week
Last week felt like a train wreck. It started with a max loss red day on Thursday—one of those days that just eats at you. Then Friday was just as bad, and the rest of the week, I found myself spiraling into overtrading. I’d have these moments where I’d dig myself a hole but somehow pull out a green day by the end. Still, it was sloppy. I wasn’t proud of how I traded.
When I spiral emotionally, I tend to take dumb risks, get aggressive, and that always leads to losses. I was getting reckless, and it all peaked last Thursday and Friday. Luckily, the losses weren’t massive, but I knew I couldn’t keep trading like that. So, by the time Friday ended, I made a plan to lock myself down for the new week. I needed some solid rules to keep me in check.
Setting Myself Straight
To get myself back on track, I decided to add some real guardrails. Here’s what I did:
- Max share size: 5,000 shares. I wasn’t going to take on more than that until I had a green day locked in. After all, I didn’t want to dig a deeper hole.
- Done by the open. Last week, I kept giving back gains at the open, which would lead to revenge trading. So, for 4 out of 5 days this week, I was done trading right when the opening bell rang, and it made a world of difference.
The first goal was simple but clear: just close green on Day 1. Once I had one green day under my belt, I knew I’d break the streak and breathe easier. A long streak of red days can mess with your emotions and your decision-making.
Monday’s Turnaround: One Step At A Time
Monday rolled in, and it felt like a clean slate. I stuck to my new rules and managed to close green. Nothing crazy, but that wasn’t the point—the point was breaking the red streak. It felt good to walk away in the green for a day after a brutal week. I knew this wasn’t about making a lot of money yet; it was about resetting my confidence and discipline.
I’ve learned that breaking even one red streak helps me trade smarter. I had to avoid the emotional traps that led me into spirals, so this was the first big win of the week.
Trading ONCO Like a Pro
ONCO came up on my scans early, right around 6:45 a.m. At first, I wasn’t sure. The float had me hesitant, but once I did some digging and saw it had a reverse split, I knew it was worth a shot. My first trade? A solid buy at $5.30 with 5,000 shares. It ran up to about $5.44, and bam, I grabbed $200 on the first trade. It was a small win, but a win’s a win, right?
I hit my next trade when the stock dipped to $5.27. I saw a strong bidder and jumped in, sending it up to $5.50. After a few more trades, I found myself up $900—not bad for not even 30 minutes of work. Soon after, I bumped that up to $2,800 as ONCO kept pushing up toward $6.47.
Sometimes, when a stock runs like that, you have to know when to let off the gas. I’d already made some good money, but I wasn’t looking to go too deep, especially considering Friday’s lack of solid pre-market opportunities.
Reading Level 2 Like a Boss
What really helped me nail these trades was being able to read the Level 2 quotes. Right at the open, ONCO hit a wall of sellers, and I could see that it wasn’t going any higher. That’s where Level 2 shines. If I hadn’t been paying attention, I might’ve tried to push one more trade through, but it was clear that there were too many people trying to sell. I skipped any additional trades and preserved my gains for the day.
If you’re not familiar with Level 2, I highly recommend learning how to read it. I talk about it a lot in my small-account challenge, which has been another key part of my trading strategy this year.
Mastering Friday Trades and Staying Picky
Over in the small account, Fridays can be extra tricky. The chances of good headlines are lower, and frankly, they’re just not my top-performing days. That means I’m even more selective with my trades.
ONCO had some morning action, but by the time I finished with those first few trades, I decided to leave the small account alone for the day. Watching for the right setups in the small account is key, and I aimed to avoid unnecessary losses. In fact, my current accuracy with the small account challenge is at 90%, and there’s no way I’m going to ruin that by taking a sketchy trade.
Looking Ahead: The Market & Next Week’s Goals
Zooming out a bit, the S&P 500 is sitting near all-time highs right now. We’re definitely at an interesting point where the market could be overdue for a pullback. But hey, volatility is what keeps trading exciting. With the upcoming U.S. election right around the corner, I expect we’re going to see even more volatility, which should bring us tons of day trading opportunities.
My plan is to capitalize on those moments without getting greedy. Volatility has always been a gold mine for active traders like us.
Final Thoughts
This week was all about discipline, following my rules, and getting myself back on track. We all want to hit big numbers, but sometimes you just need to take it slow, know when to stay out, and stack those smaller wins. That’s what helped me pull a $3.7k day on Friday—no overnight miracles, just sticking to the basics.
Remember, trading is risky, and my results aren’t typical, so be smart with your strategies and always manage your risk. I’ll see you bright and early on Monday morning for another round of day trading. Happy trading!
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Warrior Trading was founded by Ross Cameron in 2012. Today Warrior Trading is a thriving community of thousands of day traders learning to trade under the curriculum designed by Ross
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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.