Friday, October 30, 2009

How to Make 20% on One Trade

Yesterday I had the pump and dump NXTH on my short watchlist.  Luckily Interactive Brokers had borrows this morning, so I grabbed some at the open.  The borrows were gone not too long after that.

I shorted at 2.40.  It hung around 2.42 - 2.43 for a while, then the dump came.  I covered half at 2, and waited to see if it would fall further.  When it didn't, I covered the rest at 2.05 for a nearly 19% profit.


4 comments:

Anonymous said...

Are you using Cygroup? Do they allow using IB? Or do they want you to use their own platform?

James Krieger, M.S., M.S., no B.S. said...

Yes, I use Cy Group, but I also have a separate IB account. I used my IB account for this trade. I can't trade OTCBB stocks with Cy anyway.

bluecollartrader said...

nice trade, James.

James Krieger, M.S., M.S., no B.S. said...

Thanks, BC!