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, March 24, 2016

$SKY Took Profits @ 68.82% Gains! Epic Inspiration!

I was pleasantly surprised to see a huge spike in my position with $SKY this morning when I glanced at my ThinkorSwim platform. I originally entered the trade as a multi-day swing to test out which type of trading I prefer... I'm still not sure by the way...

I used the daily chart to find a trade setup that looked promising and entered $SKY on 03-08 at a price of $4.49 per share with a small position of just 200 shares. This was because I was trying to limit myself to simulate about a $1000 investment for a small account.

The daily chart still shows the same pattern to hold but after such a large spike it felt like it was a smart time to exit and take profits, especially since I was way past the initial 10-20% target.

Now that I'm out of the position I kind of wish I had left a few share in to follow the chart pattern all the way to the sell trigger. But I'll continue to watch from the sidelines and once that trigger is shown I'll do a "what if" comparison.

I also closed another multi-day swing trade this morning $FIG as a short, though not because of spectacular gains or anything. I just lost confidence in the trade and wasn't crazy about the chart patterns. It's a small gain, but a gain is a gain, so I'm not complaining.

Update on swing trades:

$AVP -13.26%, short with a target of $3 to $3.50.
$GRPN +3.21%, short with a target of $3 to $3.20.
$NADL -28.50%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again.
$SDRL -19.46%, long goal of 10-20%.
$TRIL -12.08%, Long goal of 10-20% 

Overall total on investment: -11.19%

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