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, April 28, 2016

$PRGN the Supernova Pennie: Going to Short it Like a Boss

It's the talk of the town. $PRGN went supernova today after strong catalysts of contract wins and shot up from $0.28 a share to a crazy HOD of $2.66 and ended the day at a gain of 573.37%.

I didn't enter long today, mostly because I was mobile and didn't want to chase without seeing indicators to warn of the soon to come dump...

Yes, I said SOON TO COME DUMP, even if this runs for another day or two it will crash and crash hard. This ticker has a history of doing this on similar type of news and each time we see this supernova type of day there is an even larger drop in price.

Which is why I decided to try my hand at shorting this. My initial entries of $1.08 and $1.14 were not the best placed... I was a little surprised to see it climb about 400% on the day, but I scaled in and think I may have placed my last short as close to the top as possible for the day.

Time will tell if I'm right or wrong here, but my gut tells me I'll get to cash in nicely tomorrow or Monday when the panic sets in.

I also closed out $GLF for a gain of 5.63% and $LRN for a small loss of -1.15%

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