So, a few weeks ago I was a bit conflicted in my trading. I posted on February 19th 2021 that I was long $HQGE and $LTNC, knowing that they are being promoted. I didn't know what to expect, but I knew that I was down on both positions. I couldn't ignore how much attention $LTNC was getting on twitter, and how it was continually being hyped like it was going out of style. I decided to continue holding, thinking, "Maybe these promoters are right...maybe it is going to the moon (and I'll get out when it does)." I got sucked into the hype on the possibility of massively increasing my account size with a single trade....a 'home run.' Thank God that Tim repeatedly mentioned $LTNC throughout the weekend and how it was a pump & dump, and it wasn't until Sunday evening it finally clicked that I was getting sucked in. I watched "How To Trade OTCs Safely Now That The SEC Is Halting Plays Galore - https://profit.ly/content/premium/21821" and read these tweets from his commentary: "https://profit.ly/user/timothysykes?id=2888795 ."; After these, the light bulb just came on and I realized something super important. Even "IF" these promoted stocks were to go to the moon, or just one of them, that is NOT sustainable gains. So what, you hit it big ONE TIME and you profit big. When those gains are gone, what do you have to show for it? Nothing. What we are learning here is how to make consistent gains that will sustain us continuously. A one-time home run (if you're lucky) will last you for a short while, but not forever. So forget the hype, try to catch the promotion early, and sell when they hype it up. I was very fortunate to get into $LTNC before the height of the pump. In fact, I was watching Level 2 this morning when it kept climbing and climbing. I noticed a LOT of big sellers..millions and millions and millions of shares being sold...Why? The stock was trending upward at pretty steady pace. It just didn't make sense to me. Then I saw a few million on the buy, and I started to think, "Maybe this is a shadow game they're playing to help mask the selloff." It dropped from .045 down to .04, and I decided that was my risk. I had 200k shares several weeks ago when I initially posted about $LTNC, and I sold 100k, which covered my entry price. I sold the 100k shares I had left in the .040-.041 range this morning, and it was history after that. $LTNC had a huge red day closing at .0172, down from the high of .045 today. I'm very happy that I was watching Level 2 this morning and noticed all the shares being sold off, otherwise I would be sitting at a MASSIVE loss instead of the nice gains I picked up during the promotion. In retrospect, it's much more worth taking singles and making small gains over time. It's nerve racking at times having your hard earned capital being controlled by sneaky promoters and crooked companies that do everything they can to make themselves look legit...even going as far as getting NFL players and other media-worthy individuals to take a photo with them, or make a single tweet about their company, or anything that would otherwise cause thousands of people to fall for their scheme. They are very good at what they do, but it's really not worth the risk unless you absolutely know without a doubt where they are in the promotion, but then you have to worry about SEC halting them! Just take singles and sell into strength. Cut losses quickly, its safer, and the reward is much greater in the long run.
As for $HQGE, I still have shares here. I was thinking it might be running along with $LTNC because they seem to be promoted together. $HQGE is getting nowhere near the amount of attention that $LTNC was getting. I've already made enough with $LTNC to cover my losses on $HQGE, so I'm going to hold just a little longer to see if the focus gets shifted to $HQGE, but I've had a Good Till Cancelled order in on it for quite some time at .03 just to exit if it spikes again. Doesn't look to be spiking at all right now. Tim made a comment earlier that leads me to believe the pump on that one is already over, so I'm going to look into it a little more and may just take the big loss on it instead of holding.. To be determined.. BUT, the lesson here is that these companies will never go "TO THE MOON" or mars, or wherever their CEO and promoters keep saying it's going. Watch the video lesson and read the tweets I linked to above as Tim so elegantly explains this. I'll be posting my LTNC trades tomorrow when I can verify it and upload from TD. I'll also include a chart showing my entry and exits.