A Decent Momentum Play: $VALE

I had originally gone into the trading day with plans to paper trade $BPSR, $XLIT, and $PVHO with short positions but found that the Thinkorswim platform couldn't fill the orders due to a lack of shares to short. I'm guessing it takes data from the "real" money world to simulate that if you can't short the ticker with real money neither can you with paper.


That had me switch to plan B and look for a long position within my watch list. I found that play with $VALE which had moved nicely in the morning and appeared set up to continue into the afternoon.


I was able to catch a decent chunk out of the momentum and netted a 5.28% gain with $180 profit.


I did have one small mishap during the morning. I was attempting to place a short trade with $PVHO and trying different position sizes thinking that maybe a smaller order would go through, and accidentally placed a buy order. I quickly exited the trade before it turned into a big loss as the ticker was just about to collapse. In the end I walked away with a whopping 0.68% gain and $6.75 in profits lol.


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