Red Day Recap
Ross Cameron - Warrior Trading
1,783 views • 17 hours ago Save 6 min 4 min read
Video Summary
Day 33 of the small account challenge ended in a loss, subtracting $800 from charitable donations. Despite a tough trading day, the total donations have reached $446,000, with $15,000 contributed today to 45 children's hospitals across Indiana, Iowa, and Kentucky. The trader plans to donate to five more hospitals, aiming to reach $450,000.
The day's trading was marked by volatility and questionable stock choices. The leading gainer, WETO, a Chinese stock with no news, surged over 200% and met four out of five stock selection pillars. The trader entered WETO at $10.35, securing a profit of $2,195.26. However, a subsequent trade on STKH resulted in a loss of $3,930.12 due to a false breakout. A final profitable trade on ONFO netted $855. The overall loss for the day was $879.73, a relatively small figure compared to significant gains made earlier in the week in a larger account.
Short Highlights
- Charitable Donations Impacted: A net loss of $800 on day 33 reduced the total amount available for charity.
- Total Donations Reached: $446,000 has been raised, with $15,000 donated today to 45 children's hospitals.
- Leading Gainer WETO: This Chinese stock, up over 200% with no news, met four of five stock selection criteria.
- WETO Trade: The trader entered WETO at $10.35, profiting $2,195.26.
- STKH Loss: A trade on STKH resulted in a $3,930.12 loss due to a false breakout.
- ONFO Profit: A final trade on ONFO yielded an $855 profit.
- Overall Loss: The trader finished day 33 down $879.73 in the small account.
Key Details
Small Account Challenge Day 33 Recap [0:00]
- The trader experienced a red day, marking the third such day in the small account challenge.
- Profits from the challenge are donated to charity, but losses reduce the donation amount.
- The community's engagement, through "thumbs up," adds to the donation total.
"Well, it was bound to happen. Today's day 33 of the small account challenge, and it's another red day recap."
Charitable Donation Update [0:51]
- The challenge has raised $446,000, with $15,000 donated today.
- Donations have now reached 45 children's hospitals in Indiana, Iowa, and Kentucky.
- Five more hospitals are slated to receive donations as part of the challenge.
"So, I donated $15,000 today to bring our total donations to $450,000 to children's hospitals in Indiana, Iowa, and Kentucky."
Trading WETO [2:33]
- WETO, a Chinese stock with no news, was the leading gainer, up over 200%.
- It met four out of five stock selection pillars: price over $10%, relative volume 5x higher, price between $2-$20, and float under 20 million shares.
- The trader entered WETO at $10.35, aiming for a squeeze through $10.50 and a breakthrough of the $11 high, ultimately making $2,195.26.
"So, WETO, number one, is up more than 10% on the day. That's the first pillar. And this was, yes, up over 200%."
Trading STKH and ONFO [6:54]
- STKH, up 127%, met some but not all stock selection pillars, leading to a $3,930.12 loss due to a false breakout.
- The trader then took a trade on ONFO, a US company without specific news, for an $855 profit.
- The trader notes that the STKH trade was particularly difficult due to its chart patterns and volume profile.
"And I got caught in that false breakout right there. Now, this is tough because you've got a nice volume pattern, nice volume profile, light volume pullback."
Day's Conclusion and Big Picture [10:06]
- The trader finished the day down $879.73 in the small account, a manageable loss.
- Significant losses in the larger account last week prompted a focus on rebuilding it, which was largely successful.
- The trader emphasizes the importance of trading both accounts when possible and the overall success of the charity challenge.
"So, as I sit today, I'm down $879.73, which is a negligibly small red day. I mean, really, it's tolerable."
