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, October 27, 2015

Sometimes the Best Trade is No Trade: $GIG

One good thing about limiting myself to 1 trade a week until my account is bigger, is that I must be picky about my picks. I had planned on trading $GIG today if the pattern held and was aiming for an 8% to 10% gains target.

I decided to wait for the morning bounce in hopes of getting a better entry price to increase the chances for a better % gain.

But the opening was ugly and the trend changed directions so I stayed out and will look for a stock to play tomorrow.

I can't remember where I heard it... possibly from one of Tim's YouTube videos, but it basically stated that sometimes the best trade is no trade. Since every time you put your money into the market you are taking on risks, you might as well wait until the trade is in your favor or at the very least the risk is at the lowest possible.

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