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 10, 2015

Sometimes a "No Play" is the "Best Play"

With all of the markets seeing red today the trading waters were not ideal for jumping in. On top of all the red in the markets I also failed to see a decent entry for any of my picks on the list I'd made the night before. 

So, rather than find myself chasing a stock I opted for sitting today out and watching. Sure I didn't make gains today, and I missed out on a crazy OTC runner today (500% to 800%)... but I didn't lose capital either.

I'm doing my best to follow a rule that Timothy Sykes has said multiple times throughout his videos on YouTube. Trade like you're retired.  Trade like you're a sniper. It's okay to not trade.

Bottom line, don't risk your money! Trade the set ups with the most potential to see gains.

As for tomorrow I have a few that I'm watching. Two that are leftover promotions from last night's watch list and the other is the 500% - 800% gainer from today. Not going to trade the $PPCH gainer, but I'm curios to see how, or if, it falls apart tomorrow.

A/H trading with $MELA suggests that this promoted stock with move tomorrow, but we will see.

**UPDATE 03-11-15**

$MELA gapped up huge in the opening and didn't let up, I wasn't able to make a good entry without it being me chasing and I didn't think I'd see enough gains to make a 10% move... I was right too as it didn't go much higher than the gap up and what would have been my entry. A nice pump for sure.

No comments:

Post a Comment