Since my eye opening losses, amounting to ($1,006.83), which is about 2/3rd's of my real account, I have stuck to paper trading. Until I am executing knowledgeable and tactical trades, I will be sticking to paper trading. 

 

I was in the red about $500 on my paper account. I was not cutting losses enough and not grabbing gains enough. Also, not using limit's and only using market prices to sell. 

 

I decided to use a large portion of my paper account to invest in Facebook, a company I solidly believe in. 

 

- Most of my paper trades are within a reasonable investment: $500-$2000, to better practice and relate to my real trading account. This investment in Facebook is an effort to simulate having a large account. The result has raised my spirits.-

 

+++My paper trading account is up $6,302.55 due to a $40,000 investment in $FB @ $82.41. $FB as of 11:42 a.m. on 6/24/15 is $88.96

My P/L on the day is $1,103.76, since open $6,694.54.+++

 

Paper shorted $CPRX as follows:

("Short 200 shares @ 4.45 on CPRX 10:21

Covered @ 4.30 10:56

Net: $30 / Investment: $860 / Fee : $4 / Revenue: $26} 06/24/15")

 

Paper traded $MEET and netted $14, thought I was taking a loss, but used a sell limit which put me in the green. $14 - $4 - $4 = $6 profit after fees (simulated) This trade helped me understand how to use limit's more appropriately. I need to research more on how to sell with limit's as opposed to market prices. 

I am realizing now that I could have kept a lot of my account safe by using limit's when selling. I am learning more and more each day. I should probably research the basics XD