The Day Begins
Hello traders, Ross Cameron here! This morning was quite remarkable as I stumbled upon a low-priced stock, $NXTP, that I wouldn’t typically give much attention. However, it was at the top of my scanners, which prompted my curiosity. It displayed an impressive 200% squeeze, which was definitely enough to capture my attention. My entry into $NXTP was at around $1.26, right as the momentum was building. The buy signal I noticed on this penny stock was a big buyer on the level 2, giving me enough conviction to take a position.
The Setup Unfolds
When trading such stocks, my routine kicks in almost instinctively. I click on the ticker as it pops up on my scanner, cross-reference the news, check the chart, and dive into the level two data where the depth of market tells its own story. In this case, the level 2 buy signals were clear – a 15,000 share buyer signaled potential, and without hesitation, I secured a decently sized position, albeit with some slippage around $1.30.
The Trading Strategy
Every good trade starts and ends with a plan. My exit strategy was as clear-cut as my entrance – aiming for incremental profits at $1.40, $1.50, and beyond. Thankfully, $NXTP’s price move exceeded my initial targets, providing a compelling opportunity to capitalize further during pullbacks. It’s a thrilling ride, to be honest, as you watch your profits grow with each uptick on the chart.
Overcoming Early Setbacks
Earlier in the day, I faced a series of frustrating trades with $RMCO, chipping away at my confidence and my account by about $800. It’s never easy to start the day on the backfoot, grappling with small losses and missed opportunities. The trade took shape, albeit with a little less finesse than I would have liked, but these early struggles only made the success of $NXTP sweeter.
The Big Picture
Trading is not just about one stock; it’s about the confluence of opportunities that present themselves. Aside from $NXTP, there were notable moves in $MSAI and $POL, which revealed the day’s volatile nature. I missed some, capitalized on others, but the primary takeaway is always to remain on your toes in this game of peaks and troughs.
The journey of a trader is riddled with unpredictability and swift decisions, exemplified by the $NXTP trade today. All said and done, I finished the day with a net gain of around $5000. Ending the session with a win is gratifying, especially when rebounding from a less than stellar start. Every trade tells its own story, and today, $NXTP’s narrative was one of triumph against the odds. 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.
You can learn more about Ross Cameron on his websites, RossCameron.com and Tirekickers.com
Check out Ross’s Guide to Penny Stocks — From a Day Trader’s Perspective on Entrepreneur.
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