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!

Sunday, June 26, 2016

Penny Farmer’s Friday Harvest -$265 $ZAIS, $NADL, $NGD, $SGY, $EXAS, $GBPUSD, $GBPCAD

Penny Farmer’s Friday Harvest -$265 $ZAIS, $NADL, $NGD, $SGY, $EXAS, $GBPUSD, $GBPCAD

I wanted to post this Friday night but I got busy getting the family ready for our first camping trip of the summer. The first trip always takes longer to get ready because we have to de-winterize the trailer, restock items, and get everything packed. It’s all worth it though. This year our first trip will take us to 8 mile camp ground just outside of Leavenworth WA… our favorite place to haunt

So as I’m sure you saw, Friday was a crazy day in the markets with the Brexit vote causing markets to tumble worldwide. I think that may have played a role in my overnight trade dumping on me. Luckily I had a tailing stop in place which reduced my overall loss because it fell way past my stop. The total loss on the trade in $ZAIS was a $1,035 hit.

I’m still not a huge fan of overnight trades. I’ve had a few go in my favor but for the most part I tend to loose on them. I also dislike the feeling of giving up control on the trade, seeing a stock climb in A/H and then tank in P/M and gap down in the open.

The loss in ZAIS set me to be over $1k in the hole for the day and I was looking to make that up, all though I really wanted to be careful and avoid revenge trading. So I stuck to me patterns and looked for entries that I knew had the odds in my favor.

I found that in forex first. Normally I wouldn’t trade FX unless I’m doing so just to practice chart patterns, but the Brexit vote had the markets going wild. I looked at the pairs GBPUSD and GBPCAD a saw that they appeared to have bottomed and were in the process of a bounce. I found the breakout levels and watching the MAC-D and AO. Once in both I set trailing stops and let them move up. By the time I was stopped out my gains were GBPUSD $510 and GBPCAD $185. I re-entered both trades a short time later and I’m planning on holding them longer for bigger gains.

 As I moved into stocks I found a breakout pattern forming in $NADL and saw that the MAC-D and AO were nearing their zero lines and placed an entry at 7.16. I had walked my S/L up with the price action and at one point had the S/L at 7.30 but for some reason it blew past it so I adjusted it and managed to get out at 7.22 for a gain of $90

My next trade was in $SGY to catch a breakout with MAC-D and AO nearing zero lines. I walked up the S/L and was knocked out a short time later with a gain of $135.

I then attempted a trade in $NGD for a breakout at the 4.49 level with MAC-D and AO levels nearing zero lines and was able to get in at 4.47. It seemed to have too much resistance at the 4.49 and looked like it was going to form a triple top vs breakout so I cut losses early and left with a small gain of $38.

I then retraded $SGY with the goal of catching a breakout of 8.11 and set a tailing stop with a .10 tail. I was knocked out in a dip and locked in a small gain of $22.

At this point I was pretty much breakeven on the day and decided to trade more to see if I could push harder and actually go green on the day.

That’s when I got into a trade with $EXAS for the breakout of 11.55. I had a decent entry but unfortunately was slow on setting up my S/L and got caught in a dip. I cut losses quickly however with a loss less than 2% at -$210.

I then took another trade in $SGY as a momo play while I was picking up prescriptions for my wife. I was trading on my mobile which I’m not a huge fan of because I’m not able to use the MAC-D or the AO. As soon as the trade was filled I also entered a trailing stop of .10 and I was stopped out roughly 10 minutes later for a gain of $105.

My last trade was also in $SGY based on the MAC-D and AO. I was looking to catch a fade into the close. It had other plans though and I ended up cutting losses with a loss of $105.

Trades P/L, total -$265

ZAIS, -$1,035

GBPUSD, $510

GBPCAD, $185

NADL, $90

SGY, $135

NGD, $38

SGY, $22

EXAS, -$210

SGY, $105

SGY, -$105

So overall I’m very happy with the way the day played out. Yes, I ended in the red but on a day with the markets going crazy worldwide I nearly made up over $1k in losses. In fact, had I not done that trade in ZAIS I would have ended the day in the green at $770 on the day… but shoulda woulda coulda doesn’t put funds in the account.

I wish everyone a green week starting Monday. Remember, Plant the Seeds of Education and Grow Your Pennies.

Follow me:
Twitter @MateoHellion
Instagram @MateoHellion @PaperAccount & @PennyFamer

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