I can't contain my excitement this morning as I've just hit my first $100 trade milestone! I've never shorted before and today, I tried my luck with $SLS as it's been crazy the past few days. I shorted 200 shares at $8.10 and held my breath as it reached nearly $8.40..I would've bought more, but because I have such a small account, I already had nearly half of my money from this particular account in this one and I wasn't willing to take a bigger risk. My goal was to make $.50/share, but I was able to hold until about $7.50 and I sold (making a profit of $106 after commissions). It immediately went down further and I could've made double, but I'm not going to sweat it. Tim says in his Pennystocking DVD to take your profits as you get them and then come back for more. I'm out of day trades in this account for the week, so I will just stand by for another good play.
congrats. But don't let $100 or $1000 derail you from making a lot more. by that I mean don't think in a tunnel. play long if you know the payload is there.
congrats
Congratulations!
Thank you all, I appreciate it!
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