Maybe it's because today is Friday the 13th and a full moon, but something was aligned just right because I was able to absolutely nail a short play on $CAS for my best trade of the week. But before I go into the details of the trade I must give thanks to those who deserve it. I was alerted to the setup by a tweet from Hebrew Hammer @HammerTTrading and checked the chart to find that it was on a major downward trend. I saw that it was bottoming and was able to short into the bounce, which is a pattern right out of Tim's How to Make Millions dvd... So once again, thank you Tim :)
Trading in general is challenging and trading pennies is even more so... but when things start to click it feels amazing. Not just because you're like "yeah, fuck you market, now what???" but because you realized that true financial freedom is possible.
And for those doubters out there, yes this trade is only on paper, but very realistic. It was roughly a $1200 investment that netted 29% gains in about 2 hours. That's more than I currently make in an 8 hour shift at $22.75 an hour!
The fact that this is possible and the fact that my position size will increase over time means that a trade like this could easily go from a $360 gain in 2hrs to $3,600 gain in 2hrs and that repeated again and again is life changing. Period.
My other winning trade today was the last half of my position in $CCXI which I was able to close out for a gain of $56 @ 8.75%. Again, a small trade in position size but a respectable percent gainer.
Today wasn't all winners though. I had a small loss in $TROV this morning when I attempted to catch the uptrending momentum. I topped and faded so I cut losses quickly and got out. I was trading from my mobile at the time and don't have access to the MAC-D or AO indicators that I like to use, but when I checked the chart later I noticed that I cut losses before the MAC-D crossover and that makes me happy. Learning to cut losses quickly is key to being successful as a trader.