First Week Penny Stock Trading
Week of May 15th
This week was my first week on my thinkorswim.com paper account. It was pretty successful for the first 3 days of trading with only one major mistake because I didn’t understand the interface as much as I thought. I mistakenly bought 2000 shares when I wanted to sell 2000 shares increasing my position from 5000 shares to 7000 shares.
My first day I made $500 but could have made $700 if I held onto the stock longer into the day, but everything that I have read says to get in and out in the first 2 hours of the trading day to bring risk down.
During day 2 there wasn’t really anything that I was super excited about but I felt like I needed to trade something so I bought 3000 shares of NLST. The stock fell a little and I sold quick nothing really changed with this stock the rest of the day so I didn’t feel too bad. I wouldn’t have bought the stock with my money but I was trying to see if this opening run up method works.
During day 3 could have been a great day GLYC gave me a $330 day of profit but the stock continued to rally up another $4 dollars after I sold. I could have made $4000 today if I would have held out for the second push of the day. The other stock of the day I lost on but it was only a $156 dollar lose so it wasn’t too bad, I didn’t feel that good about the stock before hand but I wanted to see if I could watch 2 stocks and be patient enough to let them both run up or cut off if losing.
So this week was a positive experience, but I am definitely not ready for live trading I will need to continue with the paper money for the next 2 weeks minimum.
|DATE||SYMBOL||FEELING BEFORE||SHARE PRICE||SHARES BOUGHT||SHARES SOLD||FEELING AFTER||OVERALL DAY|