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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!

Friday, June 24, 2016

Penny Farmer's Crops to Watch 6/24 $ZAIS $NADL $UVXY $GST


Penny Farmer’s Crops to Watch 6/24 $ZAIS

Good morning fellow penny farmers and a HUGE congrats to those from Great Britain on securing your independence. I love watching history take place and there is no doubt that what is going on in Europe is historic.

The global markets started going crazy as we led up to the vote and after. Japan halted trading for a while, the pound went into a freefall, and oil dropped significantly as well. As an investor this would be a very scary day, but as a trader this is a day full of opportunity.

I made a few paper trades in FX with GBP/CAD and GBP/USD after the pairs appeared to be bouncing off of their bottoms. My first two trades netted about $600 in profits and I still have two positions open.

Speaking of open positions, I did very little trading on Thursday and decided to place a long position in $ZAIS near the close. The stock had a huge run and was holding levels on a pullback into the EOD. My plan is to hold overnight and sell into continued momentum with a trailing S/L of .10 cents.

Crops to Watch

Main Crops:

ZAIS, 185.1% EOD. This had a huge run on Thursday. I entered within the last half hour of the day and took a position @ 3.97 when the pullback was holding support levels. My plan is to sell into continued momentum and I have a trailing stop in place.

Side Crops: UVXY, NADL, GST

Happy Trading and remember, Plant the Seeds of Education and Grow Your Pennies

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