Looks like 9:45 rip on that one but pulling back.
@FrankieJr Appreciate it! Good trading!
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Thanks for sharing this. What we aim to do is hard. I am in the exact same position as you, I tried to re-start my trading around February and have taken a fairly nasty string of losses myself. What I have been doing is looking at my past few months and trying to see everything I have done right win or lose. Hope it helps, this can be hard. Keep your head up, one day you will look back and be surprised how far you have come.
Also I re-read this post, you have a line where you say "all I am good at is cutting losses". Based on your post you displayed a couple skills: 1.isolating plays that fit your strategy 2. picking the spot to buy that fits your strengths 3. Continuing to try after taking losses
@Chevon Thanks for the kind comment made me smile in a pretty dark time of my trading career. I've taken sooo many losses in a row at this point that It's messing with my judgement on what's good and bad. Was too afraid to enter on $ADHC at .0146 and $KNOS at .10 this morning due to the massive string of losses. Just to afraid to take more losses. Best of luck to you and i'll be keeping a keen eye on your journey. We will both get this! Patience is key.
What I have been doing is isolating key mistakes and working to fix one mistake at a time. For example for me when I go long I like to look for pullbacks, but I started losing money when I got away from that. So now I am taking this whole week to focus on just one skill and its worked wonders.
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Hey man, I won't tell you if you are right or wrong as there are many ways to trade stocks.. For me I think this is not an ideal trade because of the rangy candles. The 1m candles in the morning have a range of 20 to 30 cents.. even 40 cents range in some cases. That's difficult cos its too hard to size up and manage risk so I wouldn't go long unless I was totally convinced this would run multiple days. I was more short biased on this but later learned about 'endocannabinoid' research it is doin
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if you find yourself chasing, you're likely struggling with fear of missing out. some things that have worked for me are to watch mark crooks videos on buying only off of proven support levels, try to avoid buying right at the open, wait for things to pop, settle, consolidate, buy at support and cut if it breaks support. try to be patient, breathe. give a good lesson to the free audio book on youtube titled "trading in the zone". size down and DON"T run out of money. good luck.
Pretty spot on topic for issues I'm fighting right now. I'm getting the hang of identifying panics, seeing past support lines where it'll bounce now just working on entries. Having a hell of a time distinguishing what a chase is. I see a stock spike but I don't wanna buy at the topic then, 15 minutes later it's up 2, or 3x as much as it was, I still never buy in at that point.
PXS was an example. Scanner picked it up at $3.00, when it got to the $4 area I thought that is a huge chase, then it went to $9.00 I guess that is just part of trading you never know forsure.
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I have that same problem brother. When you find that set make sure you grab an extra for me thanks lol.
It's all about risk management. If you are risking off of key technical levels and risking an amount you are comfortable losing then you shouldn't be afraid to enter a trade. Like Tim says, he trades scared so he isn't scared to trade.
The more you do IT The easier IT gets. I had alot of really big And bad losses but this can’t Get in The way of taking The trade. Buy of key support levels And correct risk management then this shouldnt be an issue either way :) GL And study hard
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You never really know if it is going to breakdown or breakout, it's strictly a guess on the price action. That's why cut loses quickly is so highly empasized, if it breaks out you sell into strength, if not you get out.
@FrankieJr With a breakout, am I looking for it to go above the resistance level and for breakdown, am I looking for it breakthrough the support level? If so, am I looking at each level for that same day or looking back 1-day+?
Lets say we're trading a stock intraday. Intraday support is at 1.00, it's trading at 1.10 now, and resistance is at 1.20. You're looking for it to ideally break through 1.20 and push to say 1.30, where it runs out of steam and then you buy the pullback at ideally 1.20(only if 1.20 holds, this where that educated guess comes in). If it holds the 1.20 you go long with the goal of it testing the highs of 1.30 and possibly breaking out to new highs(if you're correct on the play from 1.20 and it bre
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Good Idea. Thank you for this.
Thank you.
I'm about to make a giant poster of this for sure
I'm printing this is posting 1 on my forehead and 1 on my wall infront of computer. Thanks for being very generous!
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Since I have never traded a single stock ever I just bought one share to get my feet a little damp and see what happens. I trade with a company called Robinhood that doesn't do shorts yet but gives free trades so I'm only risking my 5 dollars seeing if I'm holding what I learn or need to go back a bunch.
I would advise staying away from robinhood there executions are terrible once you really get into the actual trading.
Just a newbie but Sykes has warned against shorting earnings winners: bad risk/reward.
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Buy How to Make Millions dvd. And watch all of Tims video lessons on youtube. If you bought pennystocking silver you can watch them all on this site.
Invest your time in studying and start with the basics.
Thanks man, getting ready to start on the videos today
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interesting, i'll keep an eye on your updates to the spreadsheet.
Hi Lance, just wondering if you have continued tracking this and what the findings are so far?
@cmc34 I have not kept up with it this week. I will get it updated in the next day or so. Here is the info through he 14th.https://docs.google.com/spreadsheets/d/11hih9odbxpABqCvaAf089BPAW4LSjsrwtINkOEezEic/edit?usp=sharing
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invest in stockstotrade, you'll need nothing else after that.
@FrankieJr I can't afford that right now haha. I was hoping something free like a website
check out top % gainers on sites like Yahoo Finance, StockTwits, or OTCmarkets.com, you might find some useful information on those sites
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Please let me know when you get the answer to that question because I took a pretty nasty loss on BIOC today as well. Can't figure out the best time to enter/exit in this current market.
I also had a bad trade on BIOC this morning. The diference between a 50 dollar loss and a 10 dollar gain is irrelevant. If you feel uncomfortable or iffy about something, you should always get out. Like Tim always says "When in doubt, get out."
Ok, so I shouldn't feel so bad that I was a bit impatient and mis-timed it. Ok, then! :) ...but it's not really "irrelevant" when one has a puny little account to begin with... lol.. I'm trying!
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FIN FIZ http://finviz.com/
invest in stockstotrade, I promise it will change the whole game
I like to look at TheLion.com
Stockcharts
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@FrankieJr no m nation of 100 trades a week...let's not over generalize here. This rule can and does keep you from joining some great plays; that, along with the psychological deterrent of cutting loses quickly...pdt rule is indeed awful.
Mention*
@WealthArchitect Yes, absolutely! That's what I have to do, but for now, I'm only one my first account until I build...
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@timothysykes I will definitely do that! Thanks Tim!
Dux is right, PULM is an overextended momentum play with shorts getting driven over in the mess. I wouldn't be buying it now, considering chart and price action.
IMO Wolf whistles only cheapen ProfitLY @WolfOfProfitLy The lady is asking for help.
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There's nothing much there , going by just the chart only could be a good dipbuy. But to be worth your time you would need to size up.
No News, No contract, Nothing to give it movement? Volume also a no go. Why you interested in this ticker ?
@minibubble 10/10 lol
Great job man!
@FrankieJr Thank you!
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