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!

Monday, March 16, 2015

Monday's Play a Rough Start... But Swing Hopeful

I spent a few hours on Sunday night putting together my watch list of promoted OTC stocks to move on. Most of them failed to take shape in the morning spike but $TPAC climbed quickly to the $0.0024 range and looked like the momentum would carry it through the first hour and beyond. That prompted me to go long with 80,000 shares at $0.0021 ea. Of course the momentum dipped and so did the ticker... Murphy's Law right?

It hit a low of $0.0012 and I should have likely pulled the trigger way before that and cut losses, but I had made a mental plan to hold to the EOD because the promotion / volume still seemed new and that there was more to the ticker. I held and road it to the EOD @ $0.0015 with my plan being a swing play into the morning spike to take profits if they came. No spike and I cut losses.

Needless to say I felt like a dumb ass for switching my trade plan "mid-plan" and I started to mentally prepare myself for the likely losses I was going to see to my "micro" account at E-Trade.

Then as I continued to monitor the $TPAC Twitter page for after market activity I noticed an uptick in posts. Then a post from OTC Dynamics Inc. came in mentioning that "Penny Busters" was starting a promotional campaign this evening. That was quickly followed by 6 tweets promoting the stock as well as OTC Dynamics posting a link with the promotion letter that PB had sent out.

Here's a chart that was posted along with the promotions and though I know this is a promotion I have  to admit the chart doesn't look too bad. Of course they mark the targets way up to the $0.015 range.

Bottom line is that my not so greatly executed trade my turn into a nice swing if their campaigning causes a gap up or morning run. I'm prepared to cut losses, but there is hope for greenage!

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