My plan for riding the 200ema bounce on IFON work... but not as well as it could have. My 8% trailing stop did its job and netted me a nice 10%+ gain, but unfortunately the ticker began a really nice climb that I missed out on.
In fact, between yesterday's gain and today's gain IFON climbed to $3.21 at the EOD and all the way to $3.50 A/H!!! Man, that would have been a great win to claim.
I'm going to continue to watch this stock and look for a re-entry at the 200ema. If it drops there again I think it's likely to continue with its bounce pattern.
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!