Hey everyone, Ross Cameron here! Today, I’m feeling about 85% recovered from being under the weather, and honestly, I’m glad it wasn’t a super busy day in the market. There weren’t too many opportunities, so I wasn’t forced to be on my absolute A-game. I operated my usual accounts: my retirement account and my ThinkorSwim small account challenge. Both came out green today (Results not typical), which I’ll break down in this recap.
GLMD Takes the Lead
I walked into the session with not a lot of high expectations. But, if you’re an aspiring day trader, you probably noticed something interesting. My biggest winner yesterday was NCNA, which happened to be the top percentage gainer that day. Today, my biggest trade winner was on GLMD, and, guess what? It was again today’s top percentage gainer. It’s all about locking in on those stocks early!
As traders, our goal is to spot the top gainer before everyone else does. That’s how we can jump in early on the momentum. My tip here is to make sure you look for the leading gappers in the morning and find a way to position yourself on pullbacks or key levels for entry. For beginners, this can feel tricky since it involves understanding how to decide when a stock has already moved too much to jump in safely.
My Trades Today
Let’s kick off with my trades. I sat down at 7 a.m. but didn’t love what I was seeing at first. GLMD was stair-stepping down, but there was a support level around $5.80. I got in there, hoping for a pop. I took $900 profit on that first trade, but gave back $600 in the next. Managed another $150 later, leaving me up around $450 to start.
After that, I jumped into VVPR, a stock I already didn’t like when it first hit the scanner. And sure enough, I gave back $590 on that loss. Lesson here: trust your gut! After that loss, I was back down to break-even on the day.
Keeping Small Size Until the Open
The market wasn’t giving me strong signals, so I kept entering smaller positions and staying cautious. At one point, I was down $350 after a couple of trades, but stocks like WHLR gave me the chance to bounce back. Some smaller gains pushed me from red back to around $600 green.
At the market open, I almost considered walking away. When I’m only up $600 before the bell, it’s a sign that the market might stay slow. On bigger days, I’d usually be above $1,000 or even $2,000 by then. I didn’t expect much.
Then, GLMD exploded. At first, it popped to $6.40, then $7, halted up at $7.08, and even went as high as $8.80. My best exit was at $8.57, which netted me another $2k profit in total (Results not typical). I played it safe, taking smaller blocks of 1,500 shares per trade and getting in and out quickly.
Wrapping it Up with Caution
At the end of the day, I’m happy with my gains, closing at over $2,000 in profit. It’s a good day in the books, maintaining consistency. I’ve been grinding on these smaller numbers lately until we get that next solid breakout day.
Overall, while day trading can have its extreme highs and lows, the trick is staying patient, managing risk, and not overstaying in positions when things feel shaky. You need to avoid letting emotions guide your trades!
As always, trading is risky, and my results aren’t typical. You should always manage your risk and take it slow. Thanks for reading, and 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.
