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!

Tuesday, August 19, 2014

Trade #7: IFON and the 200ema Bounce

I've been watching this ticker for a while now because I noticed that the price shows a pattern of bouncing off of the 200ema and then topping roughly at a $0.50 gain. The pattern was very regular with 5 full bounces before I placed my order on the 6th dip to the 200ema. The fact that it has bounced off of the ema so well leads me to think that I can either catch a nice 10% gain or their may be a breakout on the horizon with a much larger upside.

Small position of 220 shares with a limit buy order of $2.05.

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