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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!

Wednesday, March 16, 2016

Testing Another Multi-day Swing (short) on $FIG


As part of learning how to find multi-day swings and entry points I’m going to see if I can short $FIG with an entry tomorrow if it continues to fall.

There is some potential good news but good news doesn’t always translate to upward movement. The weekly chart shows a strong downward trend with a small pop after earnings (good news) but it appears that the trend may be setting up to continue downward. The MACD and AO on the weekly do show some positive  movement though, so I'm interested to see how those indicators react on the weekly chart.

On the daily chart the MACD and AO indicators both show triggers to go short if entering a trade with a crossover of the MACD and red bars on the AO. A pretty clear curving reversal is on the MACD as well.

I have a GTC limit order to short 1000 shares @ $4.01 and I'm shooting for a cover around the $3.85 range were there appears to be a double bottom support.

Not sure if it will work out the way I think it will, there does appear to be quite a bit of positive chatter on some of the social media sites but I've learned to take that with a grain of salt.


 

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