HTBX Bought at $1.12 According to a GAP N GO strategy I should have bought at 1.08 and sold at 1.12 or higher, but I'm not a scalper. Morning spikes always fail. My best strategy is to get it on the radar the day before or buy it at the market price right out of the gate and sell it as soon as it gaps up a little because I'm using Robinhood.
$PTN Bought at .47 in the lower shadow (stem or wick) of 52 week lows. Sold for small profits, waiting on 500 shares to see if it can break above resistance at .537 & .556 and then to possibly .625 etc.
XCO Bottoms: .95, .90, Resistance at 1.07, 1.10, 1.15 10:32 am robert k: How did you identiy the XCO bottoms (support) at .90 and .95? 10:33 am Jeff Williams: previous lows, have you watched the video lesson on that yet? I can send you link if you need 10:34 am Jeff Williams: http://www.pennypro.com/chart-reading-support-and-resistance-made-easy/ and http://www.pennypro.com/webinar-1-supportresistance-and-moving-average-lines/
Thank you for this post. Good reminder to trade scared. In the context of trading scared I always remember Tim saying: "If a trade isn't doing EXACTLY what you think it will, just get out, whether it's up or down."
Thats why we have risk levels, whether previous day higj or low, premarket high and low and for some they use fibonacci levels based on those same levels either way you have to trade scared and trade smart. This is why Trading Tickers is such a great DVD in my opinion because it shows Grittani and his entries and exits and shows a fair amount of his psychological hurdles.
Amazing post! I am brand new trading real money. For the past eight months I have been studying like crazy, almost obsessed like. Starting in December I will make the leap to trading real money with a small account. Your post inspired me even more to keep studying harder, and to get in the right mindset that I do not need to start with a big account. I am excited for your next blog post to come out.
Thank you for the post - it is truly inspirational - I started with losses but then built up and reached a 50-50 win-loss percentage and did the unthinkable - traded too big, became greedy even though I was making a profit and did not sell when the profit turned to loss and now my money is stuck - now all I do is study
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Rules: Take $100 Profits. Period. If a stock ticks down more than 2 ticks, take profits. Period. Chase 1X No More. Once chase is past immediately cancel order and wait for pullback. GAP N' GO for trades between 9:30-10AM 1) Scan for all gappers more 4% 2) Hunt for Catalyst for the gap (earnings, news, PR, etc) 3) Mark out pre-market highs and high of any pre-market flags 4) Prepare order to buy the pre-market highs once the market opens 5) At 9:30am as soon as the bell rings I buy the high of the first 1min candle (1min opening range breakout) with a stop at the low of that candle or buy the Pre-Market highs.
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