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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!

Monday, June 13, 2016

Penny Farmer's Monday Harvest


PennyFarmer’s Monday Harvest
I’m pretty happy with how the trading went today. I ended up only trading one of the stocks on the Main Crop list and made two trades from the Side Crop list. By the EOD I am up $292 in realized gains with a position in $GEVO holding overnight.
My first trade was in $UVXY and was honestly meant to be a short play with an entry of $14.25 because the MAC-D and AO were quickly approaching their zero lines and I thought it was going to begin an afternoon fade. It started to head back up as I was entering my hard stop loss at $14.30 to risk $0.05… that’s when my limit filled and it ended up taking a $40 profit. I was really confused at first because the profit didn’t make sense. That is when I realized that when I had manually entered the number of shares into my order I neglected to include (-) before the number of shares which changed the position from a short to a long. I’ll take the luck as a small price to pay for a lesson on paying attention to the details.
My second trade was in $TVIX with an entry of $3.28, right at the breakout level for a small pullback on upward momentum. It then popped up to $3.36 range and I set a hard stop loss at $3.34. It pulled back slightly and knocked me out with a nice little gain of $192 for a 15 minute hold.  Eventually it closed at about $3.52 so I ended up leaving a good amount on the table.

I made one last trade in $GEVO as we neared the EOD because the MAC-D and AO were approaching the zero lines. I think I jumped the gun on this one and entered a little too early. My entry is .49 and it did pop to .50 but then started to fade into the close. I think this may pop to the .52 resistance or maybe retest the .55 HOD from today. I’m going to hold it overnight and I have a tight stop loss set at .47 risking 0.02. Like I mentioned in the Main Crops list yesterday, there is still a few catalysts out there circulating and the company has been getting some screen time in the local news outlets so I feel this is worth the risk.

Thank you again for those of you who send messages and words of wisdom. Please feel free to contact me with comments or questions.
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