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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!

Wednesday, March 18, 2015

Small Position with $NTN... Here's Why

I honestly first looked into this ticker after hearing Timothy Sykes mention it in a recent video were he talked about potential earnings winners. He's since sold out of the position with a small gain...


"Entry comments: Bought this maker of restaurant entertainment/ordering tablets that has a big deal with Buffalo Wild Wings...I've been watching it for months, but only in the past few days has it broken out and price action suggests some good news coming, ideally another restaurant franchise contract. Goal is to make 30-50% on this one and sell into a big spike

Exit comments: Sold into the Business Insider article-related runup, normally I would hold for bigger gains, but with uncertain earnings coming in the next week I like taking safe 10%+ profits on a speculative stock pick. If they announce some meaningful news or #s I might re-buy but this company has usually excelled at hype and underperformed at actual business so I sell into this media hype!" ~ Timothy Sykes


My position of 100 shares is small enough that I am okay holding with the plan of using any positive catalysts to sell into near March 26th when the earnings report is due.

But I didn't enter the swing solely off of Sykes' comments. Here is was I saw in their charts and some of the reasoning on why I'm playing it.

Also, please note that the nearest support/resistance points are April 2014 and June 2014 between the .70's and .80's ranges. I didn't pull another chart picture to show that, but feel free to look while doing your own DD.

 



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