PocketPAT

The saga continues.... I've realized that ALLY and all slow-movers are better for swing trading. I've redabbled with trading the fast-moving penny stocks from Tim's watchlists and discovered that ThinkorSwim is actually really dope when you customize it. The biggest thing there was realizing that WeBull's "real-time quotes" are actually delayed by about five seconds when compared to ETrade and ThinkorSwim. SMH. I thought of resubscribing to StocksToTrade for charting, but looking through the chat history over the past month, I see that MANY people have been having technical issues (specifically at market open). It's a shame, because I love STT, but no one can really justify $180/month with all the glitches. I'll still use it for finding new tickers to watchlist, but TOS seems best for fast-movers on 1-minute charts. ETrade's charts were laggy AF, but maybe it's my installation. I also gave TradingView a try and while it's actually really nice, WeBull (even with it's slight delay) is perfect for SLOW-movers (especially with swing trading). Giving fast-movers another go with just a few days left of my Profit.ly subscription, I can see that slow-movers REALLY are my preference. With the chat buzzing and Tim's alerts filling up my inbox at 20+ per day and his commentary spazzing out my desktop notifications and trade alert sirens screaming non-stop lol... I'm better with the silence. I've been trying to figure out the best way to swing ALLY for multi-day runs. Should I take two days? Maybe three or four? How should I size in? How wide of a stop should I use? I've been putting many things into practice and success has been super spotty; but something recently clicked. First, I'd decided to swing ALLY for no more than three days, sizing in on higher lows or lower highs by 1/4 entries. Pretty solid plan and it was beginning to work until today when ALLY RIPPED unexpectedly; instead of crashing down to predictable support. That's when I (frustrated) decided to look around for some reminders on how to successfully swing trade. I had my own methods, but I was desperately open for new ideas. I'd remembered this guy on YouTube (J Bravo) who primarily swing trades and makes funny videos about coronavirus and news hype. I watched one of his videos today on swing trading TSLA and was reminded that using the RSI indicator can help guide you on ideal entries and exits for swing trades. I'd never found much use for it before, but it made perfect sense to test the theory out now (I'd first been introduced to RSI by ZipTrader). Looking over ALLY from the initial bounce after the crash in March, I adjusted the RSI settings to capture each ideal bounce (that I'd already been playing) and quickly realized that perfect entries and exits were extremely clear. Each run would have been about 3-4 days, usually providing roughly $2400 in profits each way. Going forward, I'll make entries over the 5-period SMA, using the 15-minute chart at clear support or resistance, with a 30-cent stop, sizing in by 1/4 on each 50 cent price cross and only exiting after the first red candle on the 2-hour chart. I'll map out the overall trading path with the 4-hour chart and incorporate the weekly chart to see long-term key levels (which are now needed since ALLY has ripped into higher ground). I'd known that ALLY would eventually break the trend either higher or lower, but my main concern has always been on whether or not it will continue to provide volatile swings after regaining a price above $20-25. I have six other solid tickers to swing in the case that ALLY no longer moves enough, but I'll be resubscribing to STT this weekend (for just one month) to run scans for building the watchlist (specifically for tickers between $5-20 for plenty of volatility). My goal was $2k/month, then $4k, then $6k as I refined and built consistency with my strategy; but it seems that $8k and beyond is definitely within reach now. Still, I'll take it one trade at a time =) . Never give up, never surrender.

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