Tuesday, July 31, 2012

How I made $550 on $ARNA in 60 minutes!!

It has been a while since I've updated my blog. Haven't made it a priority really between trading and school especially since I share most of what's important via twitter any ways. Twitter is much more convenient in any case and forces you to get straight to the point which is better for all in question.

However, it doesn't hurt to do an occasional blog post especially since today marks a special day for me as my account has hit new all time highs for the first time since inception. Will post a more detailed update under the performance tab above as well as on profit.ly here by the end of the day. I really should be studying as I have exams starting in two days!

But basically, I nailed $ARNA short today which I had been stalking for days. I shorted 1000 shares at $9.24 at 9:45am as it was breaking down from a head and shoulders pattern on the daily chart which I had been tweeting about for days now!! Then I covered 500 shares at $8.70ish and then the other 500 at $8.68ish both at 10:45am for a decent $550ish gain or a nearly 3% gain on my account in about 1 hour to put my account up 0.5% since inception and into new all time high territory. My plan now is to continue trying to make one good trade after one good trade and that should be good enough to take my account well past the PDT rule aka 25K by the end of the year!

Cheers...good luck and good trading!

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