Penny Farmer’s Wednesday Harvest $823, $VMEM $MGT, $VCH
Today was an important day for me and not just because I had another green day. It’s important because I finally took an account on Profit.ly to 50% winnings. I still have a long ways to go before I’m in the 60% to 70% winning circle like Tim and his other successful traders are, but considering that I’ve spent all my profit.ly time in both my @paperaccount and my money profile @pennyfarmer in the 40% range… hitting that 50% has me pumped!
I don’t want to down play the gains today though, because I netted about the same as Monday and Tuesday combined. I’m sitting on a little over $1,600 in profits in 3 days (at the school district I was making roughly $2k a month 40+ hrs a week) So this week is a huge boost in confidence to me and I hope for those who choose to read my post it holds some inspiration.
I feel like things are clicking and that I’ve found my niche in trading. I know that not every day will be green and that I’ll make mistakes along the way, but I truly believe that supporting my family and reaching financial freedom is not only possible but going to happen.
This brings me to the big switch from paper trading to money trading, at the moment it looks like things are lining up to having me trading fulltime in August. I’ll be paper trading until then.
Here is a recap on my trades today:
$VCH $16, This was on my Side Crops list and I made an entry at $6.34 when I saw that the chart was setting up to run and test the HOD of $6.40. I accidently set the stop limit too tight and got knocked out at $6.35 for a small profit of $16. After getting stopped out I felt that an entry wasn’t looking good anymore and decided to look for a trade elsewhere. It did hit $6.46 a short time later before fading the rest of the day. So I’m happy that I was on the right track here.
$VMEM $762, This wasn’t on my watch list but I spotted it as a mid-day percent gainer and liked the chart. I placed an entry at $0.79 as the price was making NHODs and liked how the MAC-D and AO looked strong on the upside. I walked a stop loss up with price until I need to leave the house and step away from my PC. When I returned to the market I saw that it stopped out at $0.85 for a win of $762 on 7.59% gains. It later had another push and ripped up to $0.94 before closing at $0.90.
$MGT $55, This is another one that popped up on the mid-day scanner. I debated not trading it because I was already up over $700 and was a little worried that I’d be giving some of that gain back. I liked the chart though because it was basically the same chart as $VMEM and got a position at $3.15 but was quickly stopped out at $3.16 for a small win of $25. I waited for another decent entry and got one at $3.22 and was able to hold it to $3.24 and took a small gain during a dip. I need to adjust how tight I’m leaving my stops because this trade is the second trade that would have been much better if held from point to point vs in and out. Instead of $55 net, a entry of $3.15 to $3.24 would have been a $225 gain. But I came out green and that is what matters.
Again, thank you to everyone who has taken the time to read my posts and watch lists.
I’d love to have you follow me:
Profit.ly @paperaccount & @pennyfarmer
Remember, Plant the Seeds of Education and Grow Your Pennies!