Welcome to my blog. A lot has changed since I started this thing. I'm now trading live after about a year of paper trading and studying. Originally I had planned on starting part time and slowly growing my account but life has a funny way of changing your plans. I found myself at a crossroads of sorts and quickly realized that I was being given a once in a lifetime opportunity to pursue my goals. I took the leap and I'm not looking back. Follow me here and see the triumphs and the losses.

Updated (08-10-16)

I tend to look for momentum trades that I can hold for anywhere from a few hours to a few days. I usually take positions of $5k to $10k in size to allow larger gains on smaller percentages (it's easier to hit a 1% to 5% gain vs a 10% to 20%+ gainer) and I like to use a trailing stop.

This blog is a way for me to log my progress and to aid me in learning, I hope that you find it useful. Financial freedom isn't given, it is earned. So plant the seeds of education and grow your pennies!

Wednesday, June 25, 2014

End of Day Update 06-24-14

Entered a few new trades and holding them for a day or two as swings. The FOUS patterns are there but on the three day charts so holding for now. It did cause a dip in the SW account though. PS1000 saw a small gain today on the short I'm holding.

But the big thing for today is that I created a new paper trading game through Market Watch 

I wanted a simulator to mimic what it will be like when I begin trading real money. SW is a great mobile app and has helped with learning, but it just isn't realistic enough for me. I've found that there is a big difference in trading with an account around $100,000 and $1,000. The averages are different, the risk/reward ratios are different, and the effects of the fees are different. With the PS1000 game you have to deal with a $20 fee off the top just in the entry and exit of the position. It may not seem like a lot, but when you consider the number of shares... or lack there of with $1,000 or less you basically have to deal with stock picks under $1.00 or hit percentages over 30% before you make decent gains.

Has the same trade fee as SureTrader ($4.95) per trade and you start with the $500 minimum to open an account with SureTrader. The only rule to the game is that you must trade stocks with a minimum price of $0.50 and a maximum price of $10.00.

Anyone trading stocks over the $10 rule will be removed (some wiggle-room as I'm not an ass) but no buy a $100 stock and thinking that you're still trading pennies!!!

Good luck and have fun.

End of Day Update:

Stock Wars: $99,071.25 -0.93% for a loss of $1,265.00

Penny Stocks 1000: $530.94 -46.91% for a gain of $14.56

Growing the Lincolns the Game: $495.45 -0.91% for a loss of $4.55

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