My paper trades this morning:
EFSH - Bought 1,000 shares at $3.20, it looked like it was stalling so I sold at $3.22 for a 2 cent/share profit ($20). Then I bought on what looked like a dip, in at $3.07 and out at $3.25 for a 18 cent/share profit ($180) when it looked like it was stalling again. About 1 1/2 hrs later it made a nice dip to $2.71 & bounced to $3.12. It then consolidated and faded into the close.
$SWN - Earnings. Screwed up and chased. In at $6.96 (617 shares) cut losses at $6.91 (-$30.85). I thought it dipped & got in at $6.87 (630 shares), then added another 630 shares at $6.83 thinking it would bounce. Cut losses at $6.80 for a loss of 5 cents per share (-$63).
I am getting better at cutting losses faster, but I shouldn't double down.
Another I was watching was $DAIO (earnings). I was watching for a breakout above $3.90, but something came up and I had to leave. It did breakout at 11am, touched back down at $3.90 at 11:25 then went to $4.11 noon and went as high at $4.14. Just before closing it dropped to $3.96 and closed at $4.03.
Another one I was watching was GETY, but I couldn't find anything on it so I decided to not trade it. It opened at $5.05, went as high as $7.55, and closed decent at $6.8471 and seems to be holding it's gains through after hours. Maybe it was a pump? I would have been better trading this one. I think I would have gotten executed about $5.25 and would have gotten out around $6.00.
Maybe I'm over thinking about the catalyst.
I am continuing to study DVD's & video lessons - particularly many I found on youtube.
Over the past few weeks I realized my mindset was wrong. It was more about replacing my income. Now it is more "keep my account alive."
Due to my schedule, it looks like it will be three weeks before I can trade again...so I'll be studying when I have a signal.
Overall gain today of $106.15 (paper trading). If I can continue being profitable paper trading, then I will begin trading with real money after the first of the year. I am using paper trading to develop my habits into better habits.
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