On Friday, I made zero trades as planned. $SGI did look very good though and trended higher all day...would have been an easy long. By the end of this week, I will be adding some more savings to my trading account. Due to unanticipated expenses, I will not be adding the $900 that I had planned to but I will be adding about $600 instead. Its a good deal less than the $900 planned but when added to the $1600ish currently in my account it will take me over the $2,000 hurdle. Hurrayyyy!!!!
This is great for me for several reasons: 1) I will be able to trade on margin; 2) I will be able to short stocks; 3) I will be able to reuse funds intra-day and 4) I now have enough funds to open a speedtrader account! All in all these changes should lower my costs ($0.39 minimum per trade from $5.00 minimum @ Thinkorswim!!!), give me access to excellent tools (like DAS Trade Pro's customizable HOD list...so I would not need to subscribe to FINVIZ elite, Hot Key order entry...can you say better entries and exits!!!, better quality data feed, market depth, and alerts; ability to select from over 30 routes including routes for OTC's !!!) This should enhance my performance dramatically and make it a lot easier for me to achieve my monthly goal of 20% capital appreciation.
Here are my watches for tomorrow:
I'm beginning to get more comfortable with holding swings as it seems the markets want higher! What a surpeise after the carnage we saw a few weeks ago....eh? So I will definitely be looking to play $MNTX but not so much $FTK as this is more of a day trading setup. I also prefer the $MNTX trade because although my target on $MNTX is $6.50 ish, if it breaks this level on volume; it could land me 5x my risk or more in profits! Looking forward to tomorrow!!!
Good luck and good trading!