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!

Sunday, March 20, 2016

5 Tips for Small Account Traders: Well 4 Good Ones

Here is a nice post on from ConnorAlerts, one of Tim's students that has had a great deal of success. I agree with four out of five tips. #3 regarding a trading app called RobbinHood is not something I'd suggest going with.

I've heard of people having some major issues with that app not allowing traders to execute trades until they complete some survey. In the world of pennies time truly is money because it can move huge percentages in a very short period of time... sometimes within a minute you can see jumps of 10% or more.

Granted, commission slippage is a major thing to take into account with making your trades on a small account because your position size is so much smaller that often times that trade may only see a gain or loss of $20 to $60.

But accepting poor execution to save a little money isn't worth it in my opinion. When I chose to take profits or cut losses I want it to be when I hit the button.

No comments:

Post a Comment