March 5, 2014

I try to keep up with the stocks that are on my watchlist the best I can, but sometimes it can be hard due to the fact that I have classes in the mornings! After my 9am class, I usually go to the library with couple friends. We all play around with stocks with the MarketWatch game, but I am the only one who is really serious about trading. Today we were in the library and I was doing some scans. I came across this one stock, $XGTI. This stock was trading great volume and was about to break the resistance line and go for a breakout. I went straight to my ThinkorSwim paper trading account and drew the ABCD pattern, which I learned with the dvd. This was a Textbook Pattern!

The picture may be hard to see but I took it on my phone, sorry about the quality! Anyways, the pattern that Nathan teaches you is the gearing/perking action as you can see above. You can see I drew a line from the last top which was @3.14. You can also see the higher lows and that is when you know that this stock is going to breakout. I immediately get my order ready @3.15 for 1000 shares. Right when it breaks the resistance line I pull the trigger and buy the stock. This stock shot up right when it passed the resistance line. I was so excited because this was the first stock that I found by myself and I really wished I would have put real money on to this one. But like I said this is a learning experience. I decided to ride the stock for a while and then finally I thought the stock was at the top and I sold @3.92 for a $770 profit! Of course the stock didn't stop there, but I took my profits and ran. The stock ended up closing @4.98. I wish I would have rode that stock until 4.98! But just to be safe I still locked in some solid profits! Today I really felt that I can do this and can actually succeed at this journey! Anyways guys, hope you enjoyed this blog and more content to come soon!