SlavicV

The secret is in shorting. Just evaluate dux's past trades and you'll see it for yourself. Other than that it's simple resistance and momentum trading. The hardest part is finding a broker that has shares to short on the daily running stock that's up 100%. @dux where do you find most of your shares to short? I'm using Interactive Brokers and they never have shorts available on the daily running penny stock.

Dzrock9
1
Dzrock9 Jul 29, 6:59 PM

Its not all about shorting. Its just what dux is most comfortable with

olli400
1
olli400 Aug 18, 12:04 PM

There is no secret - the longer you think there is a secret the longer you'll implode your account

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PocketPAT

lol I love calling ETrade. They’re fast-talking customer service guys are straight to the point. They sound like cocky wallstreet bros. “Congratulations, you’re the first person to ever ask me that question.” I was trying to see where I could get a “Day Trades Left” count on ETrade Pro a week or so ago. It was maybe the third time I’ve called them and I love it, feels like I’m talking to a regular person. We found the solution a minute or so later and he even chatted afterwards about my trading strategy and PDT. Maybe it’s just the “Elite Member Support” guys. Interactive Brokers’ people sound stressed and annoyed. Starting to really enjoy ThinkorSwim as well.

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PocketPAT

I've been averaging trading only three days per week for a month or so (given my schedule and quite simply there not being perfect setups every single day). This seems to confirm that six day trades should be enough, even for *potentially* sizing-in (blegh). Interactive Brokers seems cool and there are certain aspects that I've come to like in my limited time using Trader Workstation; but ThinkorSwim has grown on me and I am IN LOVE with ETrade Pro... I'll stick to just two accounts and after getting over PDT, I will GLADLY combine everything under ETrade =) =) =) --- Round of applause for StocksToTrade, as it hasn't crashed in nearly two months (it definitely crashed multiple times per day before that). Could be the updates, but I largely suspect that it just isn't ready for broker integration. As soon as I removed my brokerage accounts (and you have to click remove AGAIN after they disappear to remove them from the background), it began to move at lightning speed, with not even one error message, started loading much faster and yeah; it's not crashed even once. So I'm pleased =) ... My trading tools are fitting like a glove!!!

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PocketPAT

VTVT double-bottomed just now and is attempting to break above resistance at 1.70; but honestly it's broken too many levels to regain my trust today. I only have one trade left this week under TDAmeritrade, as Interactive Brokers will not be done processing funds until about Tuesday; so I'll save my last trade for a potential play tomorrow morning =)

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PocketPAT

OBLN is setting up a nice #2 Mid-Day Perk Pattern =) =) =) ... Now we just need an hour or so of consolidation to form the solid support level. --- I just got in once it broke out over 1.49, but it was a fakeout breakout so I cut for a break-even *sigh*... Higher highs though, so now I'll look to enter only at 1.58 over the main HOD. Only one trade left for TD Ameritrade and Interactive Brokers isn't funded yet, so this last one has to count until ETrade frees up some trades in a couple of days. --- On second thought, even if OBLN breaks out, resistance is just a couple of cents away from last Thursday. I'll save my last trade for a better setup. Two trades is more than enough for one day =) ...

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PocketPAT

Got in OTLK on the next level up from my ideal entry at 2.50, but got shaken out for a break-even. Honestly, I don't like how far it is off of the HOD. 2.50 was the only comfortable level I saw, but it bounced legitimately from 2.60, so I got in once it broke minor resistance at 2.70 (to use that as support). It's now consolidating at the same level, but my issue with this setup is that there's way too many consolidated resistance levels that it's created on the dips after the open. That's why it's predictably having so much trouble bouncing back; but on the good side, I am getting super comfortable with ThinkorSwim =) ... Building and saving orders, editing saved orders, submitting them, confirming fills, seeing P/L in real-time and exiting trades; all feels REALLY good. Two more practice trades here and then I'll be getting cozy with Trader Workstation at Interactive Brokers. --- 10:23AM: It's failing that bounce now. Good call to exit quickly =) ... There's just too much resistance. Even if it breaks out, I don't have faith that it won't fail. I'm scrapping this one. Better to save the day trades for cleaner charts only.

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PocketPAT

You know what! ThinkorSwim ain't so bad =).... I'm out of day trades over at ETrade, so I'll be using TDAmeritrade and switching to Interactive Brokers later this week (if I can get them funded in time). I need to get comfortable using all three platforms. Watchers This Morning: SBOT, OTLK. ----- After qualifying both, SBOT isn't REEAALLLY a strong FGD (it's choppy with the up and downs) and it's down off of it's highs. It could breakout again and that's what I was looking for. It IS technically breaking out right now, but there's no news and volume is atrocious, so I'll be scrapping this ticker today. OTLK is looking super promising in premarket.

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PocketPAT

It actually feels like a really great idea to use all three of my accounts. ETrade and TDAmeritrade for Multi-Dip Recurls (6 Day Trades) and Interactive Brokers for Overnight OTC FGDs (3 Day Trades). This way, I don't have to worry about losing day trades from failed Overnight OTC FGDs in the afternoon because 1) I won't be trading them too many times per week and 2) if I need to exit the position, it won't take away day trades from my primary accounts.

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PocketPAT

Got my overall equity up to $12,000. Need to sell a few more things to get completely funded at $15,000. Decided to swap Interactive Brokers for TDAmeritrade. I like TD's trader app and I've gotten used to to for managing my real-time alerts. Plus, ThinkorSwim feels easily to navigate than IB's Trader Workstation =) ... Now I've gotta suffer through 7-10 days of transferring funds around to get my TD account replenished *sigh*.... Patience, patience, patience.

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PocketPAT

Wow lol... I'm personalizing Trader Workstation for trading with Interactive Brokers tomorrow and Tim's commentary keeps buzzing about CRSM. I go to see what all the fuss is about and it definitely ripped a $2,100 equivalent move on full-size (30k shares). 60k shares would have been ideal, but it doesn't look like it would have been a safe position size due to liquidity. 30k was easily executable though, based on Time and Sales history. Very nice. I'm not considering these super low-priced tickers, because it's too hard to trade on Level 2; but it's definitely a learning experience.

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