Hey everyone, Ross Cameron here! Today was one of those tricky days in the world of day trading where things just didn’t feel quite right. I woke up Wednesday morning feeling optimistic—after all, the market seemed to have several stocks with significant movement. But, sometimes, it’s the gut that leads better than the indicators on the screen. I had to remind myself that it’s crucial to walk away before doing something I might regret—especially in a market like we’ve been facing recently.
Let’s dive into how today’s session went and what I learned from it. Spoiler: I hit my daily goal, but it wasn’t without a few near misses.
A Challenging Market: When “Grinders” Dominate
The market was full of movers today: TVGN, LRHC, and VRAX, all up over 100% at different points. It sounds exciting, right? But here’s the problem—these stocks weren’t going parabolic. They were “Grinders.” What’s a Grinder? It’s when stocks push higher but not in those sharp, exciting, parabolic waves we love to see. Instead, they pull away, look promising, hit resistance, dip back down, and then repeat. It’s frustrating because you might find yourself glued to the screen, waiting for a breakout that just won’t come.
Trying to trade breakouts in a choppy market like this will drive you nuts, so I’ve learned to avoid overtrading. That’s why there’s value in having a game plan, even when the stock doesn’t behave the way you want. It’s all about staying patient and waiting for moves that fit your strategy.
Adjusting My Strategy This Week
Last week’s market conditions were different. I was super aggressive, hitting those parabolic moves right out of the gate. But today, the action was cool in comparison. I had to dial it back and be less aggressive. There’s no use forcing trades that just aren’t there.
I reached my daily profit goal—around $6,000—so the smart thing was to quit while I was ahead. Sure, it wasn’t the most spectacular day, but the key to day trading is knowing when to push forward and when to step back. You can’t win every day, but you can always avoid big losses.
Breaking Down TVGN
Let’s start with TVGN. This ticker had a good opening, but it didn’t hit all the marks in my five criteria for a quality setup. For anyone who’s curious, I’ve shared my five criteria for stock selection, and you can find them here.
TVGN fit the price range I like—between $2 and $10—but its float was a little higher than I’d prefer, sitting around 14 million shares. That’s not super ideal because it can make the stock tougher to move with momentum. Also, the daily chart showed the stock had already made a big move recently, meaning today’s volume wasn’t as high as you’d expect for this kind of rise.
I took a trade on TVGN, but it was more of a break-even effort. I walked away with a tiny $54 profit on a 12,500-share position. It was clear that today wasn’t the day to be riding TVGN to big wins.
WINT and Profits Left on the Table
Next up, WINT. This stock popped on the scanner this morning and had some news around 8 a.m. I jumped in at $1 a share, expecting it to get to at least $1.15 or $1.20. It hit $1.10, and I hesitated to take profits. My indecision cost me because it quickly dropped, leaving me with nothing much to show for it.
This is a classic example where greed creeps into trading. I was hoping for a home run, but sometimes you’ve got to be happy with a base hit.
VRAX: The One That Worked—Sort Of
Now, VRAX was the one stock that worked out best for me today. I had a good feeling when it popped up at around 7:15 a.m., given that I recognized the name from a move during the monkeypox outbreak. The stock was trading around $2.75, and it had a tiny float of about 2 million shares, so I felt confident enough to give it a shot.
The stock had a clean micro pullback around $2, which is my bread and butter for an entry point. I started with shares around $2, adding on the way up, and it climbed to about $2.90. I took some profits and ended the initial trade feeling pretty good. That first trade alone put me up about $4,000 for the day.
But things didn’t stay rosy for long. I took another trade at around $2.90, hoping for a break through $3. The stock hit a high of $2.95, then flushed down to $2.85, and I had to stop out, losing about $2,000 on that move. That stung a bit.
Still, I stuck with it, took a few more trades, and ended up making back what I lost, leaving me up around $6,000 on the day. But VRAX definitely got more volatile and difficult to trade as the morning went on.
LRHC and the Halt-Hopping Nightmare
Finally, let’s talk about LRHC. When this stock first hit my scanner, I wasn’t too interested in it at $0.70. It reminded me of those stocks that make these massive moves only to retrace the whole thing, and I wasn’t wrong.
LRHC spiked from $0.70 to $1.10 but gave it all back before market open. Then, out of nowhere, the stock started halting up, then down, then back up again. I had to sit on my hands because, at that point, the stock felt too risky to touch. When you’re dealing with 15-cent halt bands, you don’t have much room to make money without exposing yourself to huge risks. It’s like playing a dangerous game of hot potato, and I wasn’t about to get burned.
Wrapping Up and Avoiding FOMO
Today’s market had action, but it wasn’t smooth. While it’s tempting to stay glued to the computer and keep trading, I knew the smart move was to stop. Hitting my daily goal felt good, and that’s the point where it’s easy to shift into overtrading mode and give it all back. I decided to record this recap and shut things down for the day.
If you ever feel like you’re chasing trades or letting fear of missing out (FOMO) control your decisions, just stop, take a break, and come back tomorrow. One of my favorite strategies to fight FOMO is to literally shut down my screens and walk away. It works wonders!
For those who want to learn more about how I choose stocks, definitely check out my five criteria for stock selection. They’re simple but help me stay consistent.
That’s a wrap for today. I’ll see our members tomorrow at 7 a.m. for the live stream. And remember, manage your risk, take it slow, and always keep the bigger picture in mind.
Happy trading!
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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.