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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, March 17, 2015

1 EPIC fail and 1 GREAT WIN!

I guess I'm a bit of a Ying and Yang trader this week... my position and modified plan with $TPAC failed me epically -$88.00 with -52.38%. I have no one to blame but myself and it did some serious damages to my E-trade account. That said, it did not go wasted. I am learning and will take that loss and take a long hard look at what went wrong.

#1: Not enough DD on the stock or the promoters
#2: As soon as the trade deviated from my plan I should have cut losses and walked, especially with no trailing stops available.
#3: Modifying a plan just because it appears a promotion is starting isn't okay... Always verify and look at the risk / reward.

One small blessing is that it was my E-Trade account with minimized the overall losses somewhat. Not sure if I should deal with the loss and look at building it up from the now balance of $98 or add a little funds to get it back to $200. 

On the other side of the penny however I had an awesome momentum trade with $AXXE.


Yep, entered the trade with 4,500 shares at 0.12 ea. gained 29.17% and took profits with 3,500 shares. Since I had originally planned on this being a swing I decided to leave 1,000 shares on the table over night to see if it gaps up or spikes with morning momentum. ShareBuilder isn't allowing a trailing stop so I'm watching this one closely. I AM NOT REPEATING $TPAC!!!

Seems to be heavy promotions neat the EOD and after market. I'm leery since that is the same thing I saw with $TPAC. If it's the promoters looking to get a pre-market spike and sell of in the AM I'll be ready to pull out with profits. Only one more trade this week so I'm out tomorrow regardless.


 

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