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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PocketPAT

Sadly, I've had nothing but problems executing orders through StocksToTrade. It WORKS, but 1) it makes STT super laggy, 2) there's an extra delay between STT and the broker for both execution fills (DANGEROUS) and registering green/red chart arrows for visual order reference, 3) the API could be having issues, because ETrade doesn't let you use more than one instance on your account at a time (for example: I can't use Power ETrade AND ETrade Pro at the same time, it logs me out of one when I start the other) which is an issue because STT just freezes up completely when I launch any ETrade platform (TERRIBLY DANGEROUS MID-TRADE) (it's not STT's fault, but it doesn't handle it well by completely freezing or crashing). STT Support told me to reach out to ETrade, I decided to just skip broker integration on STT altogether. All kinds of API errors were popping up on STT from ETrade AND Interactive Brokers... And I really didn't like how STT Support just left it at, "talk to your broker".... Like I said, it'll work, but STT is MUCH MUCH MUUUCH smoother without brokerage accounts linked to it. It loads at least 2-3x faster as well. My biggest question is WHY does it crash/freeze when there's an API or connection issue? Why doesn't it just say "disconnected" like other platforms, but still run perfectly fine? Either way, it's worth more in the long-run to get acquainted with individual brokerage software platforms, as I really don't want to be tied down to using only STT for everything. So I'm very pleased with today's progress =) ... Other than broker integration, STT is phenomenal.... so far. (albeit it still won't save chart markers after closing the software but whatever, that started with this latest update so I'll be waiting for the next one). For anyone wondering, STT is still very much worth the monthly price; and for anyone who would say that I "shouldn't have to deal with these things for the amount that it costs", that's unfortunately a loser entitled mentality that would get me nowhere. I am more than willing to figure out how to make it work to do what it needs to do for me to make MONEY. That's all that matters in the end here.

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PocketPAT

After consistently confirming TWO solid setups this week, which both have long-run potential (2DR + #2 Breakout); I've decided that six day trades per week SHOULD be enough, instead of nine. I'm splitting my TD Ameritrade funds between ETrade($8.5k) and Interactive Brokers($8.5k), to start with $17,000 between just two accounts instead of three, for six day trades.

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PocketPAT

After calculating Friday's clear $1960 profit potential, I'm wondering if I should skip practice-trading with micro-positions and get right into it; but I think I'll do at least two to four weeks of practice trades while still completely funding all three accounts. Tomorrow I will split $7,100 between ETrade, TDAmeritrade and Interactive Brokers (2.5k, 2.5k, 2.1k) until I gather the remaining $8k to fully fund $15k in total (likely in the next four weeks).

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PocketPAT

That actually makes SO much sense.... ETrade, Interactive Brokers and TDAmeritrade... I can bring back the 2DR setup and even if I have a bad entry, I can cut losses at like (-$50) and still have 8 trades left. Reenter at the true bottom after a confirmed bounce, ride the move and take a 10% win of $500, grossing +$450 on the day... Still 7 trades left and already over weekly profit goals to hit PDT by January.... Feels like I NEED to do this... It’s decided.... Bedtime =)

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PocketPAT

Best play this morning was FCSC. Dipped down to my designated support level t 2.70, but decided to just watch. Profit Potential: $440-700 (2200 shares). 2DR entry was expected at the same buy level of 2.70. Playing initial dips only, but studying the 2DRs for after PDT. Testing out StocksToTrade execution speed with my ETrade account =) .. Feels good. Reconsidering Interactive Brokers for the second account instead of TDAmeritrade, just for StocksToTrade compatibility.

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joeylowe

Hi! I saw your question in the chatroom about CMEG. I've been using them since last August. Here's my review: Takes a little longer than a week to get setup with them. They are state certified in Trinidad and considered a partner of Interactive Brokers. They abide by NASDAQ rules and are in my opinion doing everything right. They have two platforms. I use DAS Pro Trader. It's more versatile than Trade Station. They are dirt cheap when it comes to commissions. $5.90 for a complete trade plus ECN fees of a few pennies. Trades are instantaneous. Customer Service used to be spot on. I mean I could call or text and get an immediate response. That now lags to more than a day. This is because they've grown exponentially. Of course, if you need trade help, the desk will pick up on first ring. You do have unlimited trades (No PDT rule) and they offer staggered margins up to 6:1. Use of margin trading is up to you. Just remember it's risky. The downside is they only accept wires for funding. That means your first couple of funding wires will take 2-3 business days before your account reflects it. Once you build history with them (no margin calls, pay your fees, etc.) they will auto-credit your account within an hour of you notifying them of the wire with proof. Send them a copy of the wire receipt for instance. Bottom-line is I use them every day and have no troubles. Not to mention, the Turks and Caicos make a great vacation...errrrr...business destination to check on your trading activities.

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Van

The Interactive Brokers is not supported to verify trades any more on the profit.ly website and Its been over 5 months this issue has been remaining. So i decided to upload all my trades on https://www.tradervue.com/.

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