Banner

Banner
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!

Thursday, March 5, 2015

Closed Trades: One Loss One Gainer

I closed out both positions today with $ARCP and $XXII. One was a small loss and the other was a large percent gainer (but admittedly a small $$$ gainer).

I decided to close the ARCP position after another day of it not doing much. It appears to me like the potential breakout failed and I'm not willing to wait longer to find out either way. Cut my losses short with under 3% and a loss of only $8... not counting the commissions of course. Another losing trade on the record but I feel that I learned from it.

My position in XXII closed with a very nice gain of 36.35%. It was a very small lot and I only gained $30 out of it... but it honestly is my best executed trade thus far. I had a great entry after the alert from BP_Rising and went in with an 8% trailing stop. I had a set target in my mind of 10% to 12% unless momentum was still there, then I planned on letting it ride. That was possible and I ran into through today and took profits today at the EOD. It may continue to climb tomorrow but holding it for a third day running seemed like a risk.


I send out the details of the trade on Twitter and StockTwits, mostly to say thanks to BP_Rising for the free alert and Tim Sykes for the free lessons and inspiration. Both send responses or favorites/likes.... it was kind of like getting a 100% on a school test and having your teacher slap a smiley face sticker in the corner :) 

Trades settle next week on Wednesday. Will be looking for another trade in the meantime.



No comments:

Post a Comment