Thought I'd do another practice play and have a pretend pick for tomorrow.
$ARO in @ 0.69 target is 10% gains.
I like the chart's steady upward trend (5 day chart).
In keeping with my rules I'll pretend that I have an 8% trailing stop in place and if the ticker reaches a 6% to 8% gain during the trading day I will pretend that I'm putting a hard stop loss at the 5% gains marker. Being that it is Friday I would likely close out the position and not hold over the weekend, so I'll pretend that I close at the EOD.
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.
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!