Banner

Banner
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!

Wednesday, August 17, 2016

Live Trading (Day 3): $STEM $CYCC $114 in gains


Day three of live trading was almost a red day for me. I went with the "gap and go" plays like last time and found that $STEM was showing potential for another run... it had a huge run the prior day. I had a nice entry of $1.79 and saw my position quickly run to $2.00. I thought it would run more so I set a loose trailing stop even though I was sitting on about $800 in gains. Of course the stock market gremlins had other plans and it faded on me and zapped my gains into about a $280 loss.

I almost placed a trade with $THLD which seemed to be a sympathy play on $STEM but ended up with a momentum trade in $CYCC shortly before a HOD breakout. My entry was $7.73 with the HOD breakout at $7.79. I ran with a trailing stop and locked in $350 profit on a dip. Left about a $1 on the table but I wasn't willing to set a stop that was too loose.

I could have had a $1k day... but there is no point in beating myself up. Losses and trades flipping on you are part of the game. $STEM could have just as easily continued to run and my loose stop could have kept me in longer and allowed me to capture more of the move. I managed my risk, stuck to my stops, ended the day green... not to mention I had the opportunity to trade with a view :)

Next trading day will be Monday the 22nd providing I'm not camping.






No comments:

Post a Comment