It was an interesting day and my main take away is that I need to remember to focus. I was all over the place and had mixed results. I’m trying to become well rounded and learn about different types of markets and strategies; but the risk is to become a hobbyist of many and a pro in none.
So my priority right now is paper trading and practicing intraday momo trades of micro stocks. If at the end of a day, a great swing trading set up looks interesting, I may enter a small real position but never mid-day. As you can see below, I’ve been also goofing around a bit with Forex. That is strictly for afterhours or weekends, and or maybe on Fed days again, but not during the middle of the day for now. Last, I have my bottom-fishing portfolio, but I just need to check that maybe at lunch and EOD.
Paper Trading -.51 with commissions
I waited 10 minutes between trades, but since I was so scattered it didn’t have my attention. So my goal tomorrow is just to focus on sim day trading, and to get more clear about why I am entering trades – continuations, breakouts or reversals based on the market direction, structure and momentum. I will write up each individual trade tonight or tomorrow, but for example, I was short HIG at $5.99 and it moved a half buck I could of easily gained if I had just followed my exit rules.
Swing Trading -$75 with commissions
Tried to pick a bottom, didn’t have a good reason to enter this trade at $35 other than it looked to be at support, was overbought and ready for a bounce. WRONG! It was only 10 shares and I stuck with my stop order under $30. Will be more cautious. Lesson learned.
Forex +$17 with commissions (+22 YTD)
I opened a promotional account that gave me $25 for free to trade with. I’ve almost doubled it in two days! Today, I rode EUR/USD up after the Fed announcement and shorted it during the PM swan.
Bottom Feeders Portfolio +$580 unrealized gains
The week and half up has been very nice to it so far…..
Overview: Down a total of -$383 right now in my trading career if you count my unrealized gains.