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, February 24, 2015

My Big Fat Greek Trade: NBG

Sorry, I couldn't resist poking a little fun with the title for this post :)

Last Friday's trading session for NBG was an impressive gainer and it looks like many who held over the weekend took some profits when Greece's reform wasn't submitted in time... This was actually a good thing in my opinion because a healthy pull back before further gains is a good thing. Also, it gave me a chance to buy in at a lower placement while waiting long enough for my last trade to settle.

From the charts I've been looking at NBG still looks great for a reversal... in fact, if you watch the video by ClayTrader in the last post you'll see that the stock stayed well above the $1.76 level of resistance/support and attempted to break past the $2.05 level he mentioned. ClayTrader does a great job illustrating how this has created a nice uptrend line!

StockTwits has also been buzzing since Friday and it appears that the majority of traders there are seeing this gain soon, and by a decent amount.

So,with all that said, NBG will be my next trade and I'll be using $345 of capital with a trailing stop of 5% and a position size of 177 shares.

If she treats me well I'll owe Vin_Trader a big fat thank you for placing it on his watch list last week.

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