Small Account Challenge, Day 7
Monday first trading day and also first red day. Actually, technically speaking I broke even. But after fees of $2.12, it’s a small loss.
And it’s actually a case of me not following two of my rules for these trades.
- Sell in the first five minutes of open, especially if volume is low
- Be happy with a measly 3% or even 2% profit
I got caught up in thinking $LTBR was going to pop today and it didn’t. I bought in Friday at $1.48 and because of the aftermarket/premarket activity, I had my sights set on a $1.60+ sell. The 20-day EMA was sitting at 1.65 as was a few other resistance levels, so I thought I was “safe” with $1.60. In the first five minutes of open, I had a sell order in at $1.60 when I should have had it at $1.525 which would have been 3%… and it would have gotten filled. Instead, I wasted precious time and sold as it was going down for a wash.
So instead of getting $30, I broke even and actually lost $33 in my other account so I missed an opportunity to break even in all my accounts for the day.
None the less, sell quickly and live to trade another day.
That puts my small account balance at $1,120.20 after essentially a week’s worth of trading. Which is 12% profit in a week. Most people won’t see 12% on their savings/401k/IRA etc in an entire year or two! So I’m very happy with the week, as it still puts me averaging my target of 3% (per trading day) so I am still on target. Until tomorrow!