Welcome back everyone to THEFREEDOMGRIND blog, all about stock trading and day trading!!! Todays trades where very few! I made two trades on QHC both of which were small short positions! I missed the morning session, and so, was unable to catch any of the long side momentum out of the gate. Once I got to the computer I noticed a couple of low float stocks on the scanner, one of which happened to be QHC.
This was a textbook trade! The first position was a 300 share short at $1.79 cents with a stop at $1.82. I added 100 more shares at the tip of that pullback for an overall position of 400 shares. I was able to cover my position around $.1.66 cents. This gave me an overall trading profit of over $.10 cents per share
The only issue I had with this trade was that I tried originally to short 1500 shares and due to the margin requirement by my broker (Capital Markets Elite Group) I was only able to short 400 shares. Nonetheless this was a textbook short and am happy to report the small profit I earned! My total profit from this trade was about $46 dollars added to the small account!
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