The last couple of days have been hectic with taking my wife to the doctors for more ish, kids that need attention, and the never ending list of things that need to be done. The one major upset I had this week was my paper trading account with SureTrader. I had some gains and some pretty bad losses, but then the account expired and is no more. I didn't realize that their demo account had a short time limit on it. Bummer too because it was nice trading with the platform Ill likely be using when I make the move to real money.
For week four I will be focusing on the FOUS 4 pattern and really try to limit my trades with good research. I'm still finding my self trying to make last minute momentum trades during the trading day... especially after a loss. I need to put that emotional knee jerking reaction in check.
One of the main reasons for looking towards the FOUS pattern is that I"m limited on short trades. Currently PS1000 is the only account I paper trade with that can short. SW doesn't allow them.
But enough of the typing and let me get to the numbers.
End of Day Update:
Stock Wars: $100,244.25 +0.24% for a loss of $380.00
Penny Stocks 1000: $543.94 -45.61% for a loss of $27.89
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.
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!