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Hey everyone, Ross Cameron here! Today marked a pivotal shift in my week — an exhilarating green day after a series of challenging trading sessions. Trading five stocks, I managed to finish green on four of them — a stark contrast to my earlier trades in the week. This post is a deep dive into today’s trades, the strategies that led to success, and the lessons learned from the day’s activities.
A Breakthrough with REBN: My Main Score
REBN, surging 102% on remarkable news, was by far my standout stock. The trading day kicked off with breaking news released at 8:30 am, which triggered my first investment close to $1.90. I was cautious, starting with smaller amounts given the volatility of the past days.
As REBN’s stock price accelerated, peaking over the $2 mark, I seized the opportunity to glean profits. I maintained a strategy of adding to my position on pullbacks, still keeping my size modest. But as the market’s excitement began to ebb, so did REBN’s predictability. The appearance of topping tails and large red candles were my cues to exit. Despite the choppy end, REBN was a valuable player, contributing significantly to my portfolio today.
Technical indicators also favored my decisions. With REBN breaking the 200-day moving average and facing no substantial resistance ahead, the setup was almost textbook — until the market dynamics shifted, reminding me that no trend is entirely predictable.
Other Noteworthy Trades of the Day
SLNH provided a robust start to my trading at 8:00 am. With news breaking right at the hour, I entered at approximately $3.14. SLNH’s price action was clean and offered a seamless climb to around $3.80. My exits ranged from $3.40 to $3.80, allowing me to bank $1,400 early in the session.
Following the trend set by earlier trades, TIVC came into the limelight with fresh news at 9:00 am. The price movement from around $1.80 to $2.60 was swift, and I managed to capture gains efficiently, adding another $1,586 to my tally. However, TC couldn’t sustain its peak levels, a common theme in such volatile settings.
Unfortunately, not all was smooth. IVP, which reported a reverse split, initially spiked from $3.60 to highs near $4.93. I entered at $4.50, but the stock quickly reversed these gains. This trade ended in the red, costing me $1,500 — a stark reminder of the market’s volatility.
Reflecting on the Differences from Monday and Tuesday
The beginning of the week was lackluster, with no compelling stocks to trade in the pre-market sessions. This lack highlighted today’s success, driven by clearly strong leaders like REBN, SLNH, and TIVC, which were evident from the get-go. Unlike the previous days, I adhered strictly to my discipline, avoiding the temptation to overtrade.
Lessons from This Week: The Importance of Discipline and Obvious Setups
This week was a mixed bag, but it emphasized several crucial points:
- Target obvious setups: Always look for stocks that every trader has their eyes on. The more obvious the play, the higher the chance of a successful trade.
- Capitalize, but conserve: Knowing when to walk away is as important as knowing when to enter. Tuesday’s decision to stop trading was vital, despite the market’s slow pace.
- Handle drawdowns wisely: After a prosperous April, this week’s initial losses were disheartening. However, employing strategies like meditation helped maintain focus and avoid a downward spiral.
Stepping Forward: Metrics, Mindset, and Mastery
Today’s trades will boost my metrics significantly, but it’s just a start. My trading journey is about consistent application of learned lessons and measured risk-taking. I’ll continue to refine my strategies, ensuring each trade aligns well with both market conditions and my personal trading philosophy.
As the week progresses, my aim is to build on today’s success, staying alert to both opportunities and pitfalls. Remaining disciplined, patient, and focused on quality setups will be my guiding principles.
Recapturing the essence of what made today a success will be crucial for future sessions. Each trading day offers lessons, and today was a testament to the resilience and adaptability needed in the fast-paced world of day trading. Thanks for reading, and happy trading!
Shares of Reborn Coffee ($REBN) went up over 100% in 60 Minutes!
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
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Hey everyone, Ross Cameron here! Today marks the first day of May, and I’m thrilled to share that we’re kicking things off in the green! It feels great to start a new month with profitable trades right off the bat, especially following a setup similar to yesterday’s. As a day trader, timing and strategy are everything, so let’s dive into the details of today’s day trading session and explore some lessons learned and opportunities spotted.
Early Morning Strategy: The Importance of Timing
My day started early, as I positioned myself to catch the breaking news that often hits the wires at the top and bottom of each hour — 7:00 AM, 7:30 AM, 8:00 AM, and importantly, 8:30 AM. These are prime times for companies to release press statements pre-market, providing potential trading opportunities. Today was no exception, as I patiently waited and struck gold at precisely 8:30 AM.
The PALI Trade: Spotting and Executing a Perfect Opportunity
Right at 8:30, PALI hit my scanners, and it looked like it had a lot of potential. It made a nice technical breakout around $7, which was an immediate trigger for me. Here’s how I approached and managed the trade.
PALI stood out for several reasons:
- The float was under a million shares: generally, a low float can mean more volatility and faster moves.
- The price was between $5 and $10: historically, this range has been my sweet spot, yielding the best returns.
With these factors lining up with the volatility, I knew PALI was the right stock to target. Without hesitation, I pulled up the chart and the level two data, getting ready to make my move. The stock initially surged to around $7.80, where I placed my first buy at $7.50 with 2,500 shares. Observing a slight dip, I grabbed an additional 2,000 shares at $7.80, totaling a 4,500 share position.
The stock then hit a high of $8, encountering some resistance. After a brief consolidation, it pushed through, reaching up to $8.80. At this point, I made a strategic exit, capitalizing on the gains. A subsequent dip presented another buying opportunity, which propelled the stock even further, eventually peaking near $10.
Although PALI didn’t break the $10 mark, this trade alone netted me a substantial profit, setting a positive tone for the month.
Trading Discipline and Risk Management
Reflecting on today’s trading, the importance of discipline and risk management cannot be overstated. Day trading can offer significant rewards, but it’s equally fraught with potential risks. My strategy has always revolved around consistent, calculated moves rather than erratic trading based on impulses.
Here are a few key takeaways on maintaining discipline:
- Be Present: Successful trading isn’t just about strategy but also about being present at the right time.
- Stick to Your Setup: Know what works for you and do not deviate from these conditions unless you have a very good reason.
- Trade Conservatively Until You Build a Cushion: Especially early in the month, it’s wise to trade conservatively to build up a safety net for potentially tougher days ahead.
Looking Back at April
April was a fruitful month, marking it as one of my best this year with a gain of over $45,000. The disciplined approach paid off, allowing me to end the month significantly in the green. These results are motivating but also a reminder of the importance of consistency in this high-stakes game.
Moving Forward
As we progress through May, my goal is to continue the disciplined streak, focusing on achieving consistent daily goals while carefully managing risks. While today was a win, day trading is an ongoing journey of learning and adapting.
Thank you all for joining me in this recap. Here’s to a fruitful May filled with wise decisions and profitable trades! Be sure to tune in for more updates and remember, trading is risky — manage your investments wisely and stay educated on the markets. Happy trading everyone!
https://www.youtube.com/watch?v=riWXALg6sKY
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
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How I Turned $583 into $10 Million by Day Trading
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Hey everyone, Ross Cameron here! When I first started day trading, I exclusively focused on breakout trades for nearly a decade. My day trading strategy was straightforward and based on immediate results: I would either cash in on a breakout or cut losses quickly if it failed. This quick decision-making process was appealing because it seemed efficient and reduced the time I spent in uncertainty.
However, I always struggled with buying dips or pullbacks. Every time I attempted it, the market seemed to move against me, pushing the prices even lower and leading to consistent losses. As a result, I conditioned myself to steer clear of this approach altogether. But all this changed in 2020 when I discovered a simple yet effective strategy that transformed my day trading approach and significantly boosted my profits.
The Shift to Successful Dip Buying
The turning point came when I learned to distinguish between a mere price dip and a true market reversal. This newfound knowledge enabled me to capitalize on buying dips effectively, expanding my arsenal of day trading strategies beyond just breakout trades. Here’s a detailed look at how I approach buying dips, which has markedly improved my day trading outcomes.
1. Analyzing the Volume Profile
The first step in identifying a promising dip-buying opportunity is to examine the volume profile. It’s crucial for the trade volume to increase as the price ascends. This indicates strong buying interest and supports the price movement. Conversely, if the volume declines as the price rises, it serves as a red flag, suggesting the uptrend may not be sustainable.
2. Price Relative to the 9 EMA
I always check that the price is at or above the 9 EMA on a 1-minute chart. This moving average acts as a dynamic support level. If the price stays above the 9 EMA, it’s generally a positive sign that the trend might continue upwards.
3. MACD
Next, I look at the MACD (Moving Average Convergence Divergence). I specifically check to ensure the MACD line is above the signal line, which indicates that the momentum could be shifting in favor of buying.
4. Check for Big Sellers on Level 2
This is more of a bonus tip, but it’s incredibly helpful. Before making a move, I scan the Level 2 data to check if there are large sellers present. This helps avoid entering a position just before a potential sell-off driven by major players.
5. Entry Points: Half and Whole Dollars
Another useful tip is to target entry points at or around half and whole dollar levels. These price points often act as psychological barriers and can significantly impact price action.
Real-World Application
Let’s discuss a specific example with these strategies in play. Imagine a stock reacting to a potent news catalyst, causing the price to spike impressively. Here’s what happened:
- Initial Surge: After the news hits, the stock price jumps from $9 to over $24. This dramatic rise is where many traders might consider buying on any dips.
- First Pullback: The price starts to retrace, dipping to around $15. It’s tempting to jump in, but without the right indicators, it’s risky.
- Volume Check: During the pullback, the volume decreases mildly but remains higher than when the price was much lower, indicating sustained buying interest.
- Recovery and Addition: As the price stabilizes above the 9 EMA and the MACD remains favorable, I start buying. If the stock continues to hold strong above the 9 EMA without significant selling volume, I consider adding to my position.
The Importance of Obvious Setups
In day trading, clarity is king. I always look for trades with clear catalysts and solid volume. This approach helps avoid the choppy markets where directional movements are less predictable and more susceptible to sharp reversals or flat trading ranges.
Successful day trading isn’t just about executing trades; it’s also about managing your approach and mindset consistently. I start each day with smaller positions until I’ve secured initial gains. This conservative approach helps mitigate the risk of significant losses from the outset.
Trade Management
I employ a strict rule not to escalate my trading size until I’ve made sufficient profit to cushion any potential losses. Moreover, I set profit-taking plans with trailing stops to protect from giving back a substantial portion of my gains during a trading session.
Metrics and Review
Keeping a close eye on my trading metrics like accuracy, profit/loss ratio, and average trade duration helps me adjust strategies and improve over time. Achieving a balance where my average winners are at least equal to my average losers helps maintain profitability even with a modest win rate.
Final Thoughts
Transitioning from breakout-only strategies to successfully buying dips has allowed me to tap into new opportunities and increase my trading profits substantially. By focusing on volume indicators, price movements relative to moving averages, and other key metrics, I have not only enhanced my trading outcomes but also my confidence and consistency as a trader. For anyone aspiring to thrive in day trading, remember that understanding market signals and managing your trades wisely is as crucial as the initial strategy selection. Thanks for reading, and happy trading!
Dip Trading was HARD Until I Learned These 3 Simple Tricks
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
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Hey everyone, it’s Ross Cameron, and I’m back with another recap! As a day trader, every trading day brings its unique set of challenges and opportunities. Today’s trading session demonstrated the importance of patience and strategic thinking, which is part of what defines a successful trader. Although the gains were modest, the lessons drawn from today’s market activities were thought provoking. Let’s dive into the recap and learn from those lessons!
A Slow Start to the Trading Day
My day kicked off in New York, where I am spending the week. Trading in the pre-market session, which ends at 9:30 AM when the regular trading hours commence, was not particularly eventful. Typically, this is the time when stocks react to overnight news, providing lucrative opportunities for traders. However, today was different — there was hardly any significant news affecting stock prices, making it difficult to find stocks worth trading.
My primary focus today was on INDO, an Indonesian energy stock that is known to be volatile. Last Friday, it made a decent upswing, which didn’t quite hold, and I anticipated potential movement if it broke past the previous day’s high. My experience with INDO today was a rollercoaster. My first entry was at $5.37, hoping to catch a rise, but the stock dipped to $5.19, leading to a $500 loss. Not long after, it rebounded to $5.46, and I managed to sell at $5.70, recovering my initial loss and pulling a slight profit. Despite these trades, INDO remained choppy throughout the session, and I decided not to push my luck further.
Evaluating Other Stocks
There were a few other stocks that hit my scanners, but these stocks were known for being high float and “thickly traded,” meaning they have heavy volumes of buyers and sellers that essentially make them move at a snail’s pace — not ideal for day trading. The cost of trading these stocks can quickly eat into profits, especially considering the routing fees charged by some brokers.
RENT had shown promise in previous sessions but sold off sharply today from $22.50 to $16. LGVN was a lower float stock that hit the scanners with a potential to grind higher despite facing resistance around the $3-$4 range due to previous high volume sell-offs. I chose to avoid trading both of those names.
Optimizing Trading Strategies and Timing
My trading window typically spans from 7 AM to 11 AM EST. The goal is to cross $1,000 in profit, which then allows me to trade more aggressively. However, today was about practicing patience and restraint — essential qualities in the unpredictable world of day trading. By 10 AM, I was up a measly $30.36. Without clear opportunities, I chose to prioritize discipline over action by calling it a day, a decision that often distinguishes profitable days from losing ones.
Diversifying Income
One significant piece of advice for fellow traders is the importance of diversifying income streams. Having multiple sources of income can alleviate the financial pressure from trading, allowing you to make more calculated and less desperate trading decisions. Whether it’s a side hustle or another form of passive income, the key is to ensure you’re not wholly dependent on the profits from day trading.
https://medium.com/media/a0f2ee5526c6d470080e33489fcc0fca/hrefFinal Thoughts
Today was indeed more about the lessons learned than the profits made. The trading landscape was challenging, with few stocks offering the momentum needed for significant gains. However, navigating through these slower days with strategic thinking and disciplined decision-making is what builds a successful trading career.
As we look toward tomorrow, the focus will remain on identifying stocks with solid news or catalysts likely to drive price action within the early hours. Remember, trading is inherently risky, and managing that risk is key. I hope you found this to be a helpful recap, and happy trading!
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
Check out my newest book, How To Day Trade: The Plain Truth
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Make sure to follow my YouTube Channel
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What’s up everyone, it’s Ross Cameron! As you may know, I’ve been participating in a small account challenge to test my skills with growing a small account, something that is much more relatable to a majority of traders. Day trading, even with a small account, can be a rollercoaster of highs and lows. And sure enough, I found myself smack dab in the middle of a scenario I’d rather not be in — I blew up my small trading account. But hey, it’s not all doom and gloom. Stick with me, and I’ll walk you through the good and the bad of this daunting experience.
The Bad News — A Small Account Gone Bust
The journey started with a small account challenge, something I’ve done multiple times in the past. For those not in the know, I’ve previously turned an account with less than $600 into more than $10 million in verified and independently audited trading profits. Yes, you heard that right! But this time around, things didn’t go as planned, thanks to a good old technical hiccup.
What went wrong, you ask? Well, I switched to a new computer setup, and amidst the excitement and transitions, my trading platform did not correctly transfer my hotkey settings. For traders, hotkeys are like the bread and butter of executing trades swiftly. Instead of having my usual setup, I inadvertently made a trade with 95% of my buying power on a stock I wasn’t prepared to dive into. The result? A deer-in-headlights moment, followed by a significant loss when I had to exit the trade as the stock plummeted.
The initial reaction was frustration and a hint of anger. However, day trading has taught me the art of perspective — acknowledging the setback but not letting it define the journey. It’s about the bigger picture because trading is a marathon, not a sprint.
The Good News — A Chance to Rebuild
Now, onto the better part. Every trader knows that the market is a teacher, offering lessons in disguise. This “blow-up” turned into a newfound opportunity to rebuild my account from the ground up, sharing every step of the recovery process with you. Because let’s face it, setbacks in day trading are part of the course, and rising above them is where the real challenge lies.
First things first, regaining emotional balance was crucial. Recognizing the stress and applying temporary trading restrictions helped prevent further spirals. But, the real game-changer was incorporating mindfulness and meditation into my routine, helping realign focus and discipline. Surprisingly, these practices provided a fresh perspective, allowing me to navigate the emotional turbulence with a tad bit more grace.
Now, for the juicy part — the strategy to rebuild my small account. Setting a realistic goal of achieving one week of green trades was step one. Sounds simple, right? But it’s about getting back to the basics and building momentum from there.
A pivotal aspect of my strategy centers around meticulous stock selection, focusing on:
- Relative Volume Thresholds: I aim for stocks with significant volume relative to their average, indicating heightened interest.
- Minimum Price Criteria and Catalysts: Trading stocks up by at least 10% with a solid news catalyst — like earnings or FDA approvals — signals potential.
- Preference for Low-Float Stocks: These stocks offer volatility, which, when played right, can lead to impressive gains due to the supply-demand dynamics.
Identifying the right moment to enter a trade is crucial. Whether it’s leveraging whole/half dollar levels or spotting a bull flag pattern, the entry point can significantly impact the outcome. Equally important is position sizing, ensuring that each trade aligns with the current account size and volatility tolerance.
Continued Progress and Growth
A core component of sustaining the rebuild was managing risk effectively, striving for a 2:1 profit-to-loss ratio helped in keeping losses in check while maximizing gains, and implementing a max loss per trade further safeguarded the account from significant drawdowns.
The journey didn’t stop at recovering the initial loss. As the account grew, I gradually increased position sizes while cautiously lifting the initial trading restrictions. This balanced approach toward scaling ensured the sustainability of gains without falling back into the pit of significant losses.
Final Thoughts
In the world of day trading, setbacks like blowing up a small account can indeed be daunting. Yet, they also open doors to invaluable learning experiences and growth opportunities. My recent stumble, followed by a detailed rebuild process, serves as a testament to my resilience in the face of adversity. Remember, each trade, win or loss, is a stepping stone towards refining your trading prowess. Keep pushing forward, stay disciplined, and happy trading!
https://medium.com/media/be59d6028d178061d0821d7339d3aa66/hrefI Blew Up My Small Account… | Small Account Challenge Ep 9
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Hey everyone, Ross Cameron here. As day traders, we all have our good and bad days, but it’s the tough ones that really test our mettle. Today was one of those challenging days for me, and I want to share the journey, the decisions I made, the results, and the lessons learned. Hopefully, my experience can help you navigate your own day trading journey with a bit more insight. Let’s dive in!
The Early Bird and GCTS
My day started with spotting GCTS on the top gainers scanner. It was doing okay but nothing too exciting until 8:00 a.m. hit. Suddenly, there was breaking news that GCTS was accelerating the development of the 4G and 5G ecosystem in Saudi Arabia. This news caused a spike in interest, and volume started pouring in.
Despite my reservations due to some early morning volatility, the news swayed me to take a position. I went in at $6.9, aiming to fill 5,000 shares but ended up with 1,936 shares on my first go. The stock made a lovely jump, and I managed to take some profit at $7.19 and $7.26. Then, it dipped, and that’s where the rollercoaster began.
The stock made a slight comeback, so I added 1,500 shares at $7.75, hoping it would break the $8 mark. The price hovered heavy around there, throwing in a bit of a curveball. I knew GCTS was sitting just below a crucial moving average, which added to my hesitance. Despite these doubts, I had moments of success, managing to squeeze in profits before the stock took a surprising turn, blasting past $8 and climbing higher.
As it reached around $8.80, I took my biggest position of the day, only for the stock to flush down soon after. This moment was nerve-wracking. I managed to exit at break-even, avoiding a loss, but that decision was a tough call. Following this, I made a couple of smaller trades as the stock fluctuated, adding a bit of profit to my day but also contributing to my growing frustration. All said and done, I finished trading the stock with a net gain of $2600.
Reflecting on Strategy and Emotion
I’ve been testing a new strategy focusing on share size restrictions. The plan was to start conservatively until I hit my first profit milestone, then gradually increase my share size. This approach worked up to a point but was also a source of stress, especially as the market remained unpredictable.
The emotional rollercoaster was real today. I found myself oscillating between satisfaction at smart moves and frustration over missed opportunities or unexpected market turns. It’s days like these that really test your discipline and ability to stay level-headed.
Despite the turmoil, I ended the day in green, which is always a win in the day trading world. My total profit on GCTS was $2,619, thanks to several trades throughout the morning. I also dabbled in another stock, TARA, for a small gain and faced a minor loss with ZOOZ. The hardest hit came from MDIA, where my worst trade of the week occurred. This stock showed early promise but quickly turned south after the open. I took a stab at it, hoping for a rebound that never came, leading to my biggest loss of the whole week of $1800. All said and done, I finished the day with a net profit of $850, well below my daily goal of $5000.
Lessons and Growth
Today reminded me of the importance of staying disciplined, especially on days that test your limits. I’ve been incorporating meditation and self-care into my routine to improve my trading mindset. These practices are crucial for maintaining composure during the highs and lows of day trading.
One of the hardest but most important lessons from today is recognizing when to step back. Despite the urge to keep trading and try to reclaim lost profits, knowing when to call it quits is vital. It’s all about managing risk and staying true to your strategies, even when emotions run high.
Moving Forward
As I wrap up this tumultuous week, I’m focusing on the positives. I managed to stay green, learned valuable lessons, and reinforced the importance of discipline in trading. It’s these challenging days that ultimately make us better traders. Looking ahead, I’m committed to refining my strategy, honing my emotional resilience, and approaching each trading day with a focused mindset.
For my fellow day traders, remember: every day is a new opportunity. We’ll face losses and frustrations, but it’s our reaction to these challenges that defines our success. Stay disciplined, manage your risk wisely, and keep pushing forward. Here’s to a great week ahead — happy trading, and see you on Monday!
https://medium.com/media/bdd908013420bf3c280a60d2854e402c/hrefhttps://www.youtube.com/watch?v=AXVF_dWEZTo
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
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What’s up everyone, it’s Ross Cameron! Have you ever wondered if you can make money by buying and selling stocks within the same day? Yep, that’s what day trading is all about. But, let’s be real, diving into day trading without a plan is like trying to surf without a board. You’re going to get wiped out. If you are new to day trading, I’m here to give you a rundown on how to kickstart your journey. Let’s dive in!
Getting Started with Day Trading
First things first, let’s clear up a common confusion — day trading isn’t the same as long-term investing. While the end goal of making money remains consistent, the strategies differ big time. Day trading is all about making quick decisions, sometimes within minutes, whereas investing is more about playing the long game, holding onto stocks for years, or even decades.
Choosing the Right Stocks
Not every stock is suited for day trading. You wanna look for stocks that are, let’s say, more lively. These are the stocks that provide enough volatility to make meaningful gains. How do you find them? Well, there’s this nifty tool called Day Trade Dash Scanners, which is what I use every day to filter stocks based on specific criteria like volatility, performance, and price. Trust me, it’s a game-changer for creating a watchlist.
Knowing Your Setups
Here’s a pro tip: stick to what you know. If you’re familiar with certain setups and how they operate, you’re more likely to make informed decisions. It’s tempting to jump on the bandwagon with speculative stocks using a strategy that you are not very familiar with. Without an edge, you are leaving things to chance, and in day trading, unpredictability can be your worst enemy.
Analyzing the Charts
This is where it gets a bit technical, but don’t worry, you don’t need to be a math whiz. You just need to understand the basics of daily charts and look for patterns. Things like support lines, which indicate a stock price that it rarely falls below, and finding the right entry and exit points, are crucial. It’s not about predicting the future; it’s more about recognizing opportunities based on past trends.
The Importance of Technical Analysis
To succeed in day trading, getting comfortable with technical analysis is key. It’s all about examining price movements and trading volumes to forecast future price movements. Sounds complex, but it’s essentially looking for patterns in charts to guide your buy and sell decisions.
Risks and Rewards of Trading Options
Day trading comes with its share of risks and rewards, especially when you dive into trading options. Options can be a powerful tool as they allow you to invest a smaller amount of money with the potential for high returns. However, they’re not for the faint-hearted; the risk of losing your investment is equally high.
Managing Risks and Overtrading
Now, the golden rule of day trading — manage your risks. It’s easy to get caught up in the thrill and trade more than you should. Setting clear limits on how much you’re willing to risk on each trade is essential. Remember, it’s about smart moves, not gambling.
Conclusion
Day trading is not about making a quick buck; it’s about strategy, patience, and a bit of nerve. Use tools like Day Trade Dash Scanners to pick the right stocks, pay attention to technical analysis, manage your risks, and most importantly, never stop learning. Day trading is dynamic, and staying on top of your game is key to trading success. Happy trading!
How to Start Investing (with ZERO experience)
https://medium.com/media/8dc0417e847c4881aeeb49bee3e39e8e/hrefStay Connected
Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
Check out my newest book, How To Day Trade: The Plain Truth.
You can find me on Apple Podcasts.
Make sure to follow my YouTube Channel
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Hey everyone, Ross Cameron here, and I’m back with another trading recap for you. Today, we’re diving into a case study on APM, a stock that recently caught my attention and ultimately crowned my day with great success. I found this trading day to be very introspective and instructive, and I’d like to share some of those valuable insights into day trading with you here today. Let’s dive in!
The Early Bird Catches the Worm
My day started bright and early, with pre-market scans at the crack of dawn. Initially, the prospects seemed slim, as the leading gappers were only up by 25–30%, hinting at what appeared to be a slow day ahead. However, APM’s sudden squeeze changed the game, catapulting it to the top of my Gap scan list with a 38% increase. Despite the absence of fresh news to justify its surge, APM’s past performance and positioning above the 200 moving average made it a candidate worth considering. This scenario underscores a common day trading mantra: be prepared to pivot as market conditions evolve.
Navigating the Waters of APM with Strategy and Caution
My early skepticism about APM’s potential without a fresh catalyst was momentarily set aside as I decided to dip my toes in with my small account. This initial foray paid off with a modest but encouraging win, which then motivated me to consider APM for my main account. The transition wasn’t seamless, though. My first big-account trade on APM resulted in a minor loss, reminding me of the risky nature of day trading and the importance of continuous adjustment and resilience. I was fortunately able to regain my footing though, as subsequent trades on APM’s breakout helped me make up for the losses and much more. I was able to finish up with a handsome $4050 in profits on the stock.
The Emotional Rollercoaster of Trading
Day trading is as much a psychological challenge as it is a strategic one. After the initial hiccup, managing to finish green on APM demonstrated the value of emotional management. Each decision, from cutting losses to capitalizing on momentum, was a delicate balancing act between greed and fear. As I navigated through the day’s ups and downs, protecting my profits while still being open to opportunities required a disciplined approach, especially during those moments when the market tested my resolve.
Adjusting Tactics in Real-Time
One significant aspect of this trading day was the strategic adjustment of my share size as APM made its move. This tactical change, made with careful consideration of both market conditions and my own trading rehab journey, exemplifies the nature of day trading. Each move was calculated to balance risk with potential reward, which highlights the importance of flexibility and adaptability in a trader’s strategy.
Reflections on a Productive Trading Day
As the trading day wrapped up, APM stood out as my biggest winner, contributing significantly to my day’s total of +$4399.99. This outcome served not only as a testament to the day’s strategic maneuvers but also as a step forward in my trading rehab journey. Reflecting on the day’s events, my experiences reaffirmed several truths about day trading. Firstly, the market is unpredictable, and success requires both preparation and the agility to adapt. Secondly, emotional control is just as crucial as technical analysis. Lastly, each day offers a new set of lessons, and the journey of improvement never truly ends. As we navigate the volatile waters of day trading, let’s remember these principles, manage our risks wisely, and always stay committed to learning and growing. Always approach the market with caution, knowledge, and a clear strategy. Happy trading!
Today’s Leading Gainer in the Market
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
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What’s up everyone, Ross Cameron here, and I’m back with another trading recap! Just this past session, I faced SGD, which astonishingly soared over 275%. You might think I’d be celebrating, but here’s the kicker — I ended up red on it. How is that even possible, you wonder? It’s simpler than you might think and boils down to the volatile nature of day trading coupled with the mechanics of stock halt bands. So, let’s dive in and figure out what went wrong!
Understanding Halts Bands
The concept of halt bands might not be familiar to everyone, so let’s start there. In essence, these are thresholds set to temporarily halt trading on a stock if its price moves too aggressively in a short period — think of it as a circuit breaker to cool off overheated trading activity.
- Under $0.75: If the stock’s previous close was below 75 cents, it would halt for every 15% move up or down. This tight range can lead to frequent halts, especially in lower-priced stocks.
- Between $0.75 and $3: In this range, the halt bands widen a bit, triggering a halt every 20% movement.
These thresholds are recalculated in a rolling 5-minute window, continually adjusting based on the stock’s average price over this period. This dynamic process can significantly impact trading strategies, especially for day traders like me who thrive on volatility.
Challenges of Trading Stocks That Halt Frequently
Let’s circle back to SGD. This stock became my Achilles’ heel, not because it lacked potential but due to its frequent halts. Starting the day with a price close under 75 cents, SGD was in the tightest halt band, halting for every 15% movement. The stock halted more than a dozen times during the session, complicating my attempts to capture gains or cut losses quickly.
In my battle with SGD, I initially caught a green wave as it began its ascent. However, my victory was short-lived. Caught in a downward halt, I found myself unable to exit before accumulating a loss. I doubled down, hoping for a rebound that didn’t materialize to the extent needed.
Reflecting on SGD
Reflecting on my trades, it’s evident that timing and halt band awareness are crucial. My initial position in SGD was taken with optimism, looking to capitalize on an upward trend. However, the sequence of halts and my subsequent attempts to average down only compounded the issue. The sudden halts, a hallmark of lower-priced stocks, left little room to navigate, demonstrating the challenge of managing risk in such volatile conditions. I ended up finishing -$2700 on SGD.
Review of Other Trading Opportunities
Despite the setback with SGD, my day was fortunately still green. Early profits came from a quick trade on SPRC, netting a solid $2300 gain. Following that, PBM’s breakout provided another opportunity, and I was able to lock in a $2400 gain on the name. These experiences underscore day trading’s unpredictable nature, where prices can shift in moments, and the importance of adaptability and risk management is paramount. Such days serve as potent reminders of the fine line between profit and loss in day trading and the vital importance of discipline. Walking away with gains, albeit smaller than anticipated, beats succumbing to the whipsaw of the market and ending in the red.
Month in Review and Future Goals
March has been a rollercoaster, showcasing the potential for both significant gains and sobering lessons. The journey of a day trader is never linear, and this month has been a testament to the resilience and relentless pursuit of excellence that defines this career. Looking ahead, I aim to refine my strategies, focusing on risk management and capitalizing on opportunities with a calculated approach, seeking to maintain and build upon this month’s successes.
Final Thoughts
Day trading, with its inherent volatility and rapid movements, presents a unique set of challenges and opportunities. My experience with SGD, while frustrating, offers valuable insights into the impact of halt bands on trading strategies and the importance of agility in decision-making. As we move into a new week, let’s remain vigilant, informed, and ready to adapt. Happy trading!
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Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
Check out my newest article on Entrepreneur
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Make sure to follow my YouTube Channel
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Hey, I’m Ross Cameron, and today we’re diving into the topic of the average day trader’s salary. If you’ve ever found yourself wondering just how much money a day trader can make in a year, you’re not alone. I’ll break down the details of where a day trader’s profits come from using my own experience and trading data as an example. So, let’s break it down, shall we?
The Big Question: Day Trading Salaries
I’ve scoured the internet to find out more about the salary of an average day trader, and here’s what I’ve found. According to Zipia, the average day trader in the United States hauls in about $116,000 yearly. Glassdoor turns the dial up, suggesting a heftier $178,000.
But, there’s a catch — this includes the pros trading at big firms and desks, not just the solo gunslingers like you and me. ZipRecruiter brings us back to earth, pinning the figure at $94,000 for the self-employed traders among us. Here’s the harsh reality though — these numbers don’t touch on the success rate of traders, which, let’s be real, isn’t very high.
https://medium.com/media/351865d330b4caf4c9183f9a2d6f46f5/hrefBreaking Down My Profits
Alright, so let’s break down the nitty-gritty of where these earnings could stem from. I’m pulling back the curtain on my own experiences here, which, by the way, are a bit above average but will give you a sense of the potential.
For me, the golden hours are between 8:00 and 10:00 in the morning. That’s my money-making window. Sure, some folks thrive during the last hour of trading, or even find pockets of opportunity throughout the day, but the early bird catches the worm in my book.
Interestingly, I tend to make more money Wednesdays and Thursdays. Mondays? Not so much. It’s all about pacing and psychology. Start slow, ramp up in the middle of the week when you sense the market’s ripe, and then ease off the gas as Friday rolls around.
Now, accuracy in trading might not mean what you think. I’m right about 68.9% of the time. Yes, that means I’m wrong more than 30% of the time. But being a successful trader isn’t about batting a thousand; it’s about knowing when to cut your losses. Think of a losing trade as taking a wise retreat so you can fight another day.
Picking the Right Stocks
Stocks priced between $5 and $10 per share are my sweet spot. It’s where I can afford a decent position size and tend to see significant movement. The more volume, the merrier. Stocks with high trade volumes mean I can jump in and out without much hassle. That’s really important to me because I don’t want to get stuck holding due to low liquidity.
The Strategy Playbook
We’re talking momentum trading here — riding the wave of a stock on the move. It’s about spotting a stock with a news catalyst and finding a good entry. Rather than try to call top and bottoms, I stick to trading with momentum because it’s where my statistics show I perform the best. For me, it’s not about guessing the turnaround but more about strapping in for the ride up or down.
Personal Scoreboard
Over thousands of trades, I’ve managed to rack up just shy of $12.5 million in gross profits — though, I gotta be clear, those are not typical trader numbers. By sharing my journey, I don’t mean to set sky-high expectations but rather to illuminate the potential of honing a strategy and sticking to it.
Here’s the kicker: confidence as a trader is earned, not given. It builds over time, with each trade you make, each move you analyze, and every decision you learn from. Keep at it, track your progress, tweak your strategy, and most importantly, persist.
Wrapping Up
Day trading isn’t a path paved for everyone who steps on it. In fact, most day trader’s lose money. It’s a mix of discipline, strategy, resilience, and even a bit of luck. The figures tossed around, from Zipia to Glassdoor to ZipRecruiter, paint a picture of potential — nothing more, nothing less. What truly matters is how you carve your own path as a day trader. Here’s to making every trade count. Happy trading!
Stay Connected
Warrior Trading was founded by Ross Cameron in 2012, and is now a thriving community of thousands of traders. You can learn more about joining the Warrior Trading community here.
Check out my newest book, How To Day Trade: The Plain Truth.
You can find me on Apple Podcasts.
Learn more about the bull flag strategy
Make sure to follow my YouTube Channel
Check me out of Facebook
Watch behind the scenes on Instagram
Stay connected with me on X