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

PennyFarmer's Crops to Watch 6/14

Hello fellow Penny Farmers

Monday went really well for me with a realized gain of $292 by the EOD. I am holding $GEVO overnight with an entry of .49 and a tight stop at .47. My goal is to cash in if it pops to .52 or tests the HOD of .55.

There didn’t seem to be as many big movers today as we saw last week but several I listed saw 10% or 20% moves green or red.

Please remember that the strategy I’m employing doesn’t rely on huge runs or morning spikes/panics. I’m looking at several stocks near the EOD and I’m looking to snag 2% to 6% gains as the stock either squeezes into the close or fades. I’m not a huge fan of holding overnight but will do it on occasion. Because of family obligations I often times don’t even look at the market until it is in the middle of the trading day. My goal is to be as consistent as possible with smaller gains that add up over time. I like to walk a stop loss up with the price action when I can to try and be in a good position if the stock decides to run past my targets.

So with that said, here is the crops to watch for tomorrow. Happy Trading

Main Crops:

GEVO,11.40% EOD. My reasoning behind this stock is the same as the last list. There are several bits of catalyst out there and this seems to get news exposure still. I’m holding this overnight with an entry of .49 and a tight stop of .47. My goal is to take profits around .52 to .55 but if it cracks that HOD I’ll walk my stop loss up and look at catching more gains.

DRAM, 5.09% EOD. I wish I had spotted this one today because its move was during my trading kill zone and ran from about a $1 to a HOD of $1.69. I’m definitely watching this closely to see if it repeats.

GBIM, 53.28% EOD. This ran nicely in the morning and then faded throughout the day with a few pops along the way. I might take a look at trading the pops but only if the chart supported it and I was uder carful with the entry and exit.

FES, 40.63% EOD. This had a nice upward move all day. I’d like to see this continue for another day or two and piggyback the momentum.

PWE, 36.97% EOD. This jumped after it released 1.1bil in asset sales to clear debt. Chart wise I’m not crazy about it. It gapped up in the pre-market and then basically was sideways all day or slightly fading. This could have a big move tomorrow now that it will show up on other trader’s scans.

RKDA, 28.99% EOD. This one ran to a HOD of $2.65 and then faded all day with a close of $2.18. For me, this would have been a good short during the last 10 minutes of the day when it cracked $2.30. Not sure if I’ll actually trade this, but it is worth watching just because of the percent gain alone.

TVIX, 28.85% EOD. I traded this for a nice gain of $192. Sure wish I would have held longer as it continued to climb and also had decent gains A/H. This is affected by some of the things going on in the EU so I’d maybe take a look at the news before trading if you are looking to enter in the AM. I’m just looking at the momentum and charts so the news isn’t as important to me.

Side Crops: EBIO, Also keeping the last watch list up for an extra day.

Make sure you are using your time wisely and absorbing as much about trading as you can. Plant the seeds of education and grow your pennies!

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