PennyFarmer.com ~ Planting the Seeds of Education and Growing My Pennies: What Does a $5,500.00 Win in $EBIO Mean to You?

Friday, June 3, 2016

What Does a $5,500.00 Win in $EBIO Mean to You?

Yesterday I entered a position in $EBIO to catch an afternoon breakout and hopefully a run into the close. I nailed the entry and was in right at the $1.85 breakout level and watch it rise to the $1.90 to $1.95 ranges. I started to lose some strength and I decided to exit... but the limit order didn't fill by the EOD and as the price faded I was stuck with an overnight trade.

I was prepared to exit as soon as the market opened and just take the loss.

But then the overnight issue became a blessing in disguise and it gaped up in the morning. I then started moving my hard stop loss line as the price moved the stock higher.

I was eventually stopped out at $2.40 but that left me with 29.73% gains and $5,500.00 profits on one trade.

Of course, we're talking paper trading here so I'm not actually $5k richer.

But with that said, this trade does hold a lot of value for me because it confirms that having financial freedom is truly possible.

I attempted another trade today looking to catch an afternoon breakout in $CLF at $1.65. I was able to get a good entry and it appeared that the breakout was going to take shape. It did pop to $1.69 briefly but then quickly fell and triggered my stop loss. In all, the trade was well executed and I cut losses with about a -1% loss.