I sold off the rest of our Citi holdings at $3.48. I am looking into other stocks at the moment. I have been busy but will update again this week with my picks.
Our Forex account is doing very well. I shorted at EUR/USD at 1.42 and it is currently 1.387. That is a nice profit, but I think it will go lower. I adjusted our stop loss to 1.40.
WIWS
Tuesday, June 16, 2009
Monday, June 1, 2009
Flood Gates
I sold a third of our position at $3.70 after Citi began to decline some more. Since we bought in at $2.78, we didn't take a hit, we simply did not get all of the profits we wanted to. After selling out of that position, we are left with $387 that we are waiting to completely settle. We still have $187 in Citi that I am going to watch closely.
In the mean time, I am going to look for more stocks to put the $387 to work. One stock I have been watching is KOG. It is an oil company and I was thinking of buying in at around $0.98. It currently went up to $1.28, so we may have missed the train. However, I see a correction coming soon to about $1.06 and we may buy in around then.
On the Forex account, I shorted the Euro at 1.4187. I had another short order at 1.4236 but it only went up to around 1.4224. Close, but it did not trigger. I have two short orders in already, 500 each, at the 1.4187. I am thinking that the Euro will weaken to about 1.364. This would give us a nice 400+pip profit.
Some goals I have written up for our Forex account are:
1.) Make and keep profits
2.) Trade every week, preferably 3 times a week.
3.) Try and make at least 10 pips of profit when I trade.
That is it for now. I will keep this updated about the Forex trade.
WIWS
In the mean time, I am going to look for more stocks to put the $387 to work. One stock I have been watching is KOG. It is an oil company and I was thinking of buying in at around $0.98. It currently went up to $1.28, so we may have missed the train. However, I see a correction coming soon to about $1.06 and we may buy in around then.
On the Forex account, I shorted the Euro at 1.4187. I had another short order at 1.4236 but it only went up to around 1.4224. Close, but it did not trigger. I have two short orders in already, 500 each, at the 1.4187. I am thinking that the Euro will weaken to about 1.364. This would give us a nice 400+pip profit.
Some goals I have written up for our Forex account are:
1.) Make and keep profits
2.) Trade every week, preferably 3 times a week.
3.) Try and make at least 10 pips of profit when I trade.
That is it for now. I will keep this updated about the Forex trade.
WIWS
Saturday, May 30, 2009
Canal
Our position in Citi has been trading sideways. That is both good and bad. The good news is that with the market's moves downwards, Citi is not hurt too much. It seems as though Citi has found a base at around $3.65. The bad news is that Citi has found a roof at $3.80. Our position is already positive, so this range trading is not devastating.
I originally wanted to sell our position above $4. I did sell 1/3 of our position at $3.90 when Citi began to fall. I will look at the prices of Citi come Monday and may sell another 1/3 of our position. This will leave us with roughly $400 to trade with. I may open one or two positions looking for some small $50 gains.
I have been monitoring other stocks and by waiting, I believe we are not utilizing our potential to its best extent. I will leave the final 1/3 of our position until it gets closer to $4. I will continually trade the the rest of our account and plan on making some decent gains. We are over halfway to $1,000. The thousand dollar mark is the first major hurdle, but not the last. This summer I hope to make some major progress on our stock market account.
WIWS
I originally wanted to sell our position above $4. I did sell 1/3 of our position at $3.90 when Citi began to fall. I will look at the prices of Citi come Monday and may sell another 1/3 of our position. This will leave us with roughly $400 to trade with. I may open one or two positions looking for some small $50 gains.
I have been monitoring other stocks and by waiting, I believe we are not utilizing our potential to its best extent. I will leave the final 1/3 of our position until it gets closer to $4. I will continually trade the the rest of our account and plan on making some decent gains. We are over halfway to $1,000. The thousand dollar mark is the first major hurdle, but not the last. This summer I hope to make some major progress on our stock market account.
WIWS
Thursday, May 7, 2009
Partly-Cloudy
The $4 floor gave out so I put in a sell order at $3.90 to close out part of our position. I brought in a profit of $47 after commissions. This now gives us a buffer if things take a turn for the worse. I have $200 in the account that is not in any stock and 100 shares of Citi still. Looks like it will most likely be a red day today. The coming days will be full of bumps. I am very tempted to close out the rest of our trade it the stock reaches $3.50 and take the rest of our profits.
The profits wont be as much as if we had sold at $5 but there is a plus side. With the profits we do get, we could buy back in at a cheaper price or go after another stock. I am leaning towards this now because we could pick up Citi on bad news, or simply move onto a different stock.
Better to take some profits and be in the green then get greedy and be red.
WIWS
The profits wont be as much as if we had sold at $5 but there is a plus side. With the profits we do get, we could buy back in at a cheaper price or go after another stock. I am leaning towards this now because we could pick up Citi on bad news, or simply move onto a different stock.
Better to take some profits and be in the green then get greedy and be red.
WIWS
Holding the Floor
Citi is holding the floor at $4. It came down from $4.38. As long as it holds the $4 floor, it should be a good day. The account is up over $600 with this $4 floor. I am deciding whether or not to sell right now. Depending on the news tomorrow this could either go up a lot or plummet.
On good news, Citi could go up to $5 and we could reach our profit target.
On bad news, Citi could also go down to low $3, or even into the $2's. I am going to evaluate our selling point later in the day, around 1pm. I may just sell at around $4 and take in the profits we already have. I like to play it safe and news trading is risky.
I also shorted the EUR/USD this morning at 1.345 with 500 lots and it is currently at 1.3408. I have about a 50 pip profit right now. I hope to close half of the trade around 1.3375 to pic up an additional 20 pips. I will close the entire trade at around 1.334. Making a few dollars here and there.
With the Forex account we can make a lot more money, but it is going to take time for us to build up to that point. When we started trading stocks we took small profits and are now snow-balling into $100+ trades the same thing will happen with the Forex account. Once the Forex account reaches $1,000 we can start a broader trading pattern. Shorting EUR/USD while going long in the USD/CAD. For right now I am concentrating on one angle at a time.
I will keep this updated with our progress.
WIWS
On good news, Citi could go up to $5 and we could reach our profit target.
On bad news, Citi could also go down to low $3, or even into the $2's. I am going to evaluate our selling point later in the day, around 1pm. I may just sell at around $4 and take in the profits we already have. I like to play it safe and news trading is risky.
I also shorted the EUR/USD this morning at 1.345 with 500 lots and it is currently at 1.3408. I have about a 50 pip profit right now. I hope to close half of the trade around 1.3375 to pic up an additional 20 pips. I will close the entire trade at around 1.334. Making a few dollars here and there.
With the Forex account we can make a lot more money, but it is going to take time for us to build up to that point. When we started trading stocks we took small profits and are now snow-balling into $100+ trades the same thing will happen with the Forex account. Once the Forex account reaches $1,000 we can start a broader trading pattern. Shorting EUR/USD while going long in the USD/CAD. For right now I am concentrating on one angle at a time.
I will keep this updated with our progress.
WIWS
Wednesday, May 6, 2009
Money
Citi had a slight dip for about a week to around $3. Today it had a nice rally back up to $3.95. I still have my selling point set at $5 but looking at tomorrow's movements I am going to re-evaluate my position and change it closer to $4. As of right now, with Citi at $3.95, our account balance is up over $500. I tend to trade a lot more during the summer/start of semesters when I have more time. With Summer fast approaching, I am getting swamped with finals and papers. Now that our trade is already in, I only have to do management check-ups. The FOREX account though is going to suffer a little bit.
I have traded more on the FOREX account and have brought the total account value up to $243. Considering the initial $160, I am going to say that it isn't that bad. I plan on focusing more on the FOREX account during the summer.
Here is a brief outline of my possible trades.
Hold Citi until $5 or move the selling point a bit lower depending on tomorrow's price moves.
Sell the British pound. I am going to pick up a small lot of about 100 around 1.515. The pound has been meeting resistance around this level, but it has the potential to go up to 1.525 I am going to pick up a small lot at 1.515 and set more selling points higher, if the pound does make it up to the further resistance level. The major resistance is broken around 1.527 so that would cancel out the trade. Around 1.525 I am going to pick up about 1,000 lots. If you don't know what lots and pips are, I suggest going to http://www.babypips.com
The profit target is around 1.475. The risk/reward ratio is good. I am going to place the trades in tonight and see how those go. I hope to make over $100 profit on the Forex account. My bigger goal is to bring in a 100% gain in the Forex account and try and get the stock account up over $1,000.
WIWS
I have traded more on the FOREX account and have brought the total account value up to $243. Considering the initial $160, I am going to say that it isn't that bad. I plan on focusing more on the FOREX account during the summer.
Here is a brief outline of my possible trades.
Hold Citi until $5 or move the selling point a bit lower depending on tomorrow's price moves.
Sell the British pound. I am going to pick up a small lot of about 100 around 1.515. The pound has been meeting resistance around this level, but it has the potential to go up to 1.525 I am going to pick up a small lot at 1.515 and set more selling points higher, if the pound does make it up to the further resistance level. The major resistance is broken around 1.527 so that would cancel out the trade. Around 1.525 I am going to pick up about 1,000 lots. If you don't know what lots and pips are, I suggest going to http://www.babypips.com
The profit target is around 1.475. The risk/reward ratio is good. I am going to place the trades in tonight and see how those go. I hope to make over $100 profit on the Forex account. My bigger goal is to bring in a 100% gain in the Forex account and try and get the stock account up over $1,000.
WIWS
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