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!

Saturday, August 23, 2014

GLUU & IFON: What's Going On?

Friday saw GLUU continue its drop in price and we're now sitting below $5... really sucks and highlights the reason of why you need to have a trailing stop in place. I'm now at a NEGATIVE 34% on the position which would be my larges loss if I closed the position. I am continuing to hold however, but not just because I don't want to take the hit, it's mostly because I still see the stock bouncing to the $7 to $10 range near or after Q3.

Here's a couple of recent articles on GLUU:

The new position this week on IFON ended the week in the green but only by a hair. We are still bobbing around on the 200ema and the pattern holds. Between June 10th through the 18th the ticker saw a similar bobbing action before rising to $2.27 and then dipping back to the 200ema for another bounce that shot up to $2.46.

I have the 8% trailing stop in place but I'm thinking I won't need it. If the stock hits the 10% mark I'll tighten the stop to 2% or 3%. With this pattern usually hitting a gain of 10% to 15% that should leave me with no less than 8% gains. I may manually take profits at the 15% though.

No comments:

Post a Comment