bmp003
1
bmp003 Mar 22, 17 3:38 PM

Quick question on VRAY....I've been watching it the past two days and for today I am curious on how you created your support level at 7. Did you you go from the previous day lows? And for your resistance area did you go from the previous day highs?

NickE
NickE Mar 23, 17 7:49 AM

I usually use the days previous support and resistance levels as long as they are clearly established. I've also found that the whole dollar and half dollar, in a lot of cases, is an area to keep an eye on. This is always after I check the longer term support and resistance levels.

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bmp003
bmp003 Mar 22, 17 3:41 PM

I have been watching VRAY the past two days and had created the same resistance level at 7.30 but did not trust my gut to go through with the trade. So I just watched it climb to new highs today...rookie move on my part

Turbobob
Turbobob Mar 22, 17 3:53 PM

Happens... especially in these curren tmarkets as break outs have been getting stuffed as soon as they go. I buy the break out and if it fails, sell immediately.

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Xero
Xero Mar 22, 17 5:46 PM

Also, as I was watching the price fall while setting up the order, I decided to go with a market sell to get out fast. After that and seeing the price try to move up and get smacked down and try to move up again, I decided not to do anything with it until it calmed down.

Xero
Xero Mar 22, 17 5:48 PM

I had one potential buy point a couple minutes before 2, but once again, because I was at work, I missed out. I could have made 13cents per share, which would have been a profit of 19.50 had I bought 150 shares again. But, since I kinda felt that was my only chance, I didn't buy back in at all. Based on the price action during the day, I figured the stock would also go down at market end.

Xero
Xero Mar 22, 17 5:50 PM

Tomorrow will be a dip buy only. My guess is there will be a tiny morning spike followed by another gradual fall. I'm thinking the price will settle around 3.50-3.75 per share. Now, that's just a guestimate and by no means should you follow this advice (per Tim Sykes), but that is my prediction.

Xero
Xero Mar 22, 17 5:55 PM

More about the pre-market... Remember when I said that it's the people investing in a penny stock that decide it's value? What was the value set at yesterday? What did the pre-market do? Given those two things, what would you think the stock price would do following market open? These are the types of questions you need to ask yourself and the type of situations you need to learn to see.

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Rockhound727
Rockhound727 Mar 01, 17 2:30 PM

It's hard to find a balance between patience and trading scared, but you must always remember the number one rule: cut losses quickly!

Rockhound727
Rockhound727 Mar 01, 17 2:31 PM

And don't have a fear of missing out, there's always another play

bmp003
bmp003 Mar 22, 17 4:18 PM

It really is! I gonna make a big poster that says CUT LOSSES QUICKLY so I can get out when I have too!

bmp003
bmp003 Mar 22, 17 4:18 PM

That's very true! Another play, another dollar!

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bmp003
bmp003 Aug 11, 16 5:46 PM

How do you usually do your research on some stocks? Is there a particular website you look at? Or do you just google top earnings, low floats, high floats, etc.?

ERtrader12
ERtrader12 Aug 12, 16 3:16 AM

microcapsearch.com is very useful for pulling up stats quickly. It basically links it to yahoo finance but still some other useful stuff in there. Also, I use IB so they have custom scanners you can use to pull up tickers that meet my criteria. finviz.com is useful if your broker doesn't offer a screener

ERtrader12
ERtrader12 Aug 12, 16 3:18 AM

@Doncematic has definitely been working for me lately. Also I never hold big size over night. Nothing over $1k.. I feel like the risk of it gapping against me is too great to hold any kind of size for a swing trade

bmp003
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bmp003 Aug 15, 16 12:11 PM

Awesome! I really appreciate your tips! I have been looking at those websites you have mentioned already and they have been very helpful! And I agree with you as well, I never hold a big size overnight. Thanks again!!

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