Banner

Banner
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!

Thursday, February 25, 2016

Can Losers be Winners? $BPTH $EYES $VRNG

So I went into today's trading day with three tickers on my paper trading watch list, $BPTH, $EYES, and $VRNG.


It took me a little bit to update my Thinkorswim platform (had to reinstall it) so I watched from my mobile app and noted that all three were starting in the red. I waited and did not enter a trade.


But then I saw that $EYES appeared to be bouncing and noted that the candles looked like it was going to recover. So I placed a trade and was in @ $5.98 for 100 shares.


Of course a short time later when the platform was up and running I saw that the indicators didn't support my entry and I exited the trade for a loss of -5.18% and a loss of $31.


I to the platform and checked $VRNG and saw that it was a no go, and moved on.


$BPTH however had an entry trigger and appeared to have potential to run up towards the EOD. I placed a trade and was in at $1.77 for 600 shares. Unfortunately the run never materialized, but I used my indicators perfectly and exited at $1.75 for a loss of only -1.13% at $12.


Comparing these three tickers and the two trades was a great lesson on risk management and using indicators.


$VRNG did run around noon but I was getting ready for work when I saw it and I'm not chasing.


Screenshots and Notes:






 

No comments:

Post a Comment