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!

Friday, October 16, 2015

Getting Back into the Swing of Things

I know that the whole idea behind a blog is to make consistent posts... I have not done that. But to be fair, life has been unusually crazy the last few years and even more so recently. I won't bore you with details, but trust me when I say that making trades has not been on my mind.

That said, things are starting to return to a normalcy or at least something close to it.

I still had two positions open all this time and both I hate to say have turned into bags.

$IBIO is sitting at an ugly 31.45% loss and gouging my TD Ameritrade balance. I haven't decided if I should cut the damn thing out and lick my wounds or continue to hold and hope that the market Gods smile upon me and at least give me a nicer exit point.

$BRWC is the worst bag at the moment and not just because the move is still in the red. The numbers aren't actually that bad when I look at my entry of $0.0015 and it is still hovering in the $0.0011 and $0.0013 ranges. As a swing it could still pop to $0.0016 or higher. The issue is that I made the rookie mistake of using my Sharebuilder account to buy the stock. The commissions on the penny are ridiculous... $42 in commission fees for the buy and another $42 for the sell when that comes! When taking the commissions into account I'm currently sitting on a -42.71% loser and for me to see green the price would have to climb to $0.002! It can be done but the wait may not be worth it. I have an auto sell set to $0.0025 a share... so we will see.

Now for the new.

I decided to get back into it and wanted to go for something that has worked for me in the past. I chose to find a nice momentum play and see if I can ride it with a trailing stop.

I found $VTL to be enticing after seeing the 5 day chart with a nice steady climb.

I was able to enter at $6.43 a share and ride the momo to $6.77 a share at the EOD. With my 8% trailing stop in place I'm going to swing this and see if I can continue to ride the momo tomorrow.

No comments:

Post a Comment