Week 2

I had no time yesterday to do any trading and today looks bleak as well. This gives me time to reflect on advice I have heard traders talk about.... do not trade for trading's sake. In other words, don't force a trade because you are bored but wait for the correct opportunity. I am hoping later this week I will get that opportunity.

One Week Later

Well, it's been a week since this exercise started. Due to work commitments I could not follow the market at all yesterday. This represents some of the challenges faced during this exercise. As I am not a fulltime trader there will be days I cannot follow the news or make trades. We will just have to make the best of it.

Holding Through Earnings

PCLN (Priceline)reported earnings yesterday after market close and did not disappoint. The stock shot over $226 after-hours. This is a good example of the risk/ reward of holding a stock through its earnings announcement. Stocks announcing after market close can trade in huge swings after-hours. Had I not sold PCLN chances are I'd be looking at an extra $ 1500.00 dollars in the portfolio this morning. However, for this exercise it was not realistic to do so. Had PCLN reported earnings not meeting expectations the stock could have seen $190 this morning. This is a bonafide attempt on my part to see if I can generate enough income trading from a beginning base of $ 50K. At this point, such risky, but at times rewarding moves, are not part of the plan. When and if the portflio reaches $250-300,000 we can make those choices.....hence the saying, it takes money to make (serious) money.

Getting Started

Made a few trades as noted last week. Holding RIG still. I will trade and post as my time allows.

Day 1. Setting Up Shop.

I am just an average guy with an average career. While I already have a career I have always been curious about trading stocks for a living. Possible? Who knows. The allure of having no boss. The freedom to live anywhere and still be able to provide for my family. The excitment of waking up every morning to do some I love.

This blog will be an exercise to test that possibility. Using a hypothetical account of $50,000, I will post my trades here, good, bad, or ugly. How long will it go on? Until I answer the question.