Happy July! What a way to begin the Month. The Market handed me a gift today. As you may know, I explained in the past post I was obsessively watching $BEAG. Primarily because it's up due to campaign mailers which is not lasting. How do I know that it's a Paid Promotion? Well firstly the Chart is a dead giveaway, and secondly, refer to this great blog post here by Michael Goode. Know I am not going to over what a Paid Promotion is, because if you have been following my blog there is simply no need. Unless you are new, I would recommend watching this video by Tim Sykes here to give you a basic background.
So today I had two trades. Once a loss and one a win. Of course, as I have said in the past your goal as a Trader is Risk Management. Maximize your profits and minimize your losses is the way to longevity. As a trader, your goal is to stay in the game, stick to rule number one which is cutting losses quickly. As my loss, today was in my risk threshold. Everyone will have there own unique risk, that is what makes trading unique. I strongly encourage you to find your own risk threshold. I will explain this in a further post.
So $BEAG as you know is a paid promotion. I have been keeping my eye on this as a sniper. I did not act unless my target point was hit. This is what me different from a lot of traders. I DON'T LOOK FOR TRADES. I LET THE TRADES COME TO ME. YES, I am a trader. Seems counter-intuitive, but hear me out. I don't trade randomly. I come to the realization that if you trade random results you are bound to get random results. The Market handed me a gift with $BEAG. For the past 15 days, this stock has been topping out. It was not a question of IF this was going to crack, but WHEN and If I was going to be prepared. Thanks to many of the great video lesson I've watched I was fucking prepared. Today I just made roughly $1600 in one hour. That's more than I make at my summer job in an entire fucking month. or maybe two. Yes, Money is nice, but I must enjoy the process. Onto the Next one as Roland Wolf would say. I am net short 3,125 Shares @ 1.07 AVG in anticipation of a Morning Panic. If I get lucky this will get smacked with the Skulling crossbones, but I don't play by luck. I PLAY BY THE ODDS and PROBABILITIES. I will report back tomorrow for a full trade recap.
Have a Great Night!