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, February 23, 2016

Trading Blind in a Red Market = Duh... A Loss!

Yeah, the title says it all. My paper trades for today were pretty epic losses even though I stuck to my trading plans and got out before the EOD. Both $MXPT and $ICAD crumbled under the red markets today. That combined with trading blind due to no internet at home caused some larger losses than I'd like to see.

But as with the other losing paper trades I've seen lately, it is a great lesson and confidence boost to see how well the MACD and AO indicators on the 15min chart are going to work for risk management. There will be meat left on the table most of the time because the indicators seem to trigger an exit before the tickers really dive, but I'm okay with taking medium to small gains vs big losses because I'm swinging for the fence.

Timothy Sykes has said before that you're better off making singles and doubles consistently rather than always going for homeruns and striking out.

I'm quickly seeing how important it is for risk management and not taking unnecessary losses because of holding too long.

Screenshots and Notes:

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