Hey everyone, Ross Cameron here! It’s Thursday morning, and I’m making my way toward the end of what has been a pretty slow week. Today wasn’t a big trading day for me, but I wanted to walk you through what happened and why sometimes it’s okay to take a step back. Even on days like this, there are valuable lessons to be learned.
When I opened my scan this morning at around 7 a.m., I saw nothing that caught my eye. It was a slow start, and I quickly realized it might be one of those days when I don’t trade much. There were a bunch of low-priced stocks, mostly below $2, and based on my metrics, I knew they weren’t worth the risk. See, I’ve learned that it’s tough for me to make decent money on stocks under $2. But sometimes, if there’s a great catalyst or the float is super low, I’ll take a stab at it. Today, though, nothing fit the bill.
Why I Didn’t Jump In Early
When I look at stocks under $2, I know that even if I buy a large number of shares, like 10,000 or 15,000, the potential slippage and the fees and commissions make it less attractive. What I mean by slippage is that you might get charged a couple of cents more than the price you wanted to enter or exit at. If a stock only moves 10 or 15 cents, losing a few cents to slippage eats right into those profits.
So, by 9 a.m., I still hadn’t made a single trade, and I was committed to staying patient. Patience is a big deal in day trading. The temptation to take any trade just to feel active is overwhelming, but that’s where most people go wrong. My gut was telling me, “Maybe you should walk away today.” But I sat tight and waited for the bell to ring at 9:30.
The One Trade I Took Today
At 9:45, we finally saw some action. DTSS released breaking news, and it shot up about 15%. I jumped in on the move and made $605.50. Not the biggest win of my career, but it was my only trade of the day. Sometimes, that’s all it takes—a single trade to make a little extra money. I’ve always said, “Any green day is a good day.”
Knowing when NOT to trade is half the battle in day trading. There’s always that risk of pushing a bad trade and losing money. My gut told me to walk away today, and maybe I should have. But this time, the risk was small, and making $605.50 wasn’t a bad call in the grand scheme of things—especially compared to losing $500 or more if a trade backfired.
Managing Risk on Risky Stocks
Today, I also looked at a stock called WHLR that hit my scanner. But it was risky business. The spread was jumping around, and it wasn’t trading at high volume. The problem with stocks like this is that a big order can easily whip the price around. If someone drops a 5,000 or 10,000-share order, the stock could move 30 cents in a flash, and that’s not good for anyone on the wrong side of that move.
This kind of educated intuition is why being part of a trading community is crucial. Having other traders around to bounce ideas off of in real time gives you a broader perspective. I had already made up my mind that I wouldn’t touch WHLR today, especially with its unpredictable behavior, but it was still worth observing for learning.
My Approach to Sizing and Profit
A big part of today’s decision-making came down to share size and discipline. I wasn’t planning to exceed 5,000 shares, and I never expected to make more than $1,000. With my DTSS trade, I bought 5,000 shares after seeing its news pop at 9:45. The company had just posted a juicy headline, and since DTSS is known for making big moves, it fit the criteria. I saw a good setup at $2.58, but I still had slippage. My buy-in ended up filling at $2.65. So right off the bat, I was down $0.06 on 5,000 shares.
When I saw a seller at $2.80 with a 10,000-share block, I took my profit at $2.77. It wasn’t the cleanest trade, but it was safe. The stock might have had room to run up to $4 or more, but I didn’t stick around to find out, and I’m glad I didn’t.
Reflecting on Today’s Trading
Looking back, I could’ve easily sat this one out altogether. After making $10,000 yesterday, a $600 day isn’t going to change the game for me. But at the same time, it’s better than ending the day red. Had I lost $1,000 today, I’d be frustrated. Losing money because I broke my own rules is the worst feeling. That’s why I stuck to small share size and took profits quickly.
I saw a few other stocks that looked interesting today, like CRKN and SRFM, but neither of them had a catalyst to support a trade. Stocks without catalysts are like cars with empty gas tanks—they might look good, but they aren’t going anywhere.
Learning From Slow Days
Today feels like a “might as well have been a no-trade day,” but you know what? You’re going to have days like that in day trading. The key is not to get frustrated. A solid day yesterday means I can take it easy today, and that’s one nice benefit of sticking to base hits. I always remind myself that day trading isn’t about swinging for home runs every day. It’s about consistency.
My plan moving forward is simple: keep my head down, focus on discipline, and continue aiming for base hits. I’ve got my eyes on Friday, and next Monday is a regular trading day because the stock market will be open, even though the bond market is closed for Columbus Day.
Managing Risk in Trading
And before I wrap up, I just want to remind you: day trading is risky. You have to manage your risk every single day. It’s important to take it slow, follow your rules, and not get caught up in chasing the wrong stocks. My results aren’t typical, so don’t mirror them. Learn how to develop your own strategy and manage your risk.
That’s it for me today! I locked in one small winner, didn’t overtrade, and stayed disciplined. Some days are just like that. Thanks for reading, and 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.
