ajtherens72
ajtherens72 Aug 01, 16 9:54 PM

Tim made his first million on buying breakouts

Aromo
Aromo Aug 02, 16 6:46 PM

with long term you mean 1 day, 2 days, 3 months, 1 year?

communist_owl
communist_owl Aug 02, 16 10:27 PM

on avg, 1 week..sometimes 2 or 3 weeks

Gibran
Gibran Sep 22, 16 10:47 AM

@communist_owl Pennystocks have limited volatility , watch out for that , so swing trading them is a whole lot different concept.

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communist_owl
1
communist_owl Jun 02, 16 1:52 AM

All points agreed, except the last. You must try and be comfortable. Being used to being uncomfortable leads to taking bigger risks because it feels "normal" to be uneasy.

mikejones1217
mikejones1217 Jun 02, 16 3:24 AM

So I'm very new to this and kinda understand a little of what you are saying. So instead of bombarding you with a ton of question I'll just ask one. What is level 2?

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TechnicalTicker
TechnicalTicker Jun 01, 16 11:23 PM

@communist_owl you can find success either way, it really comes down to your dedication and perseverance to learn the right techniques and strategies that best suit you as an individual. You can make the same amount of money whether you become a day or swing trader, but that is on you to decide how skilled you want to become on the subject. I hope this helps! If I can help you further, please feel free to reach out to me and I will help you in every way possible.

communist_owl
communist_owl Jun 01, 16 11:29 PM

Thanks! I considered swing trading, but I just really began to mold my day trading strategy... I suppose learning a different strategy is the only key.

SRobertF
SRobertF Jun 01, 16 11:35 PM

its tougher. i work through all market hours. you really have to know your PLAN and STICK to it. Learn your alerts system learn your stop limits and i'm just learning trailing stops to take profits and still have stops for when im not watching. Good Luck.

TechnicalTicker
TechnicalTicker Jun 01, 16 11:39 PM

@communist_owl nothing wrong with a day trading approach, you just need to be more focus and stick to your plan from start to finish. Trial and error is your best way to gain experience, just start with small position size as long as you are comfortable and use hard stops as I am guessing you might not be able to always close them yourself due to your working hours.

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osirustwits
osirustwits Jun 01, 16 8:54 PM

Yes if the @Palmer if the stock is making new highs I look at the the chart for a daily then I look for a catalyst and how many shares are short to see if it will squeeze. I used to be short everything so i would use this to find over extended stocks but lately everything has been running so if I see it first I have lower risk to ride it up before I look for a short entry.

Palmer
1
Palmer Jun 02, 16 8:11 AM

Got it thanks. I think going with the prevailing trend (daily) is always the smartest thing to do. Why fight against the flow or money and instead try to ride along with it. I've leanred that penny stocks ( < 10$) can and do trend so there will be opportunities to get in and make some bank. Good stuff.

osirustwits
1
osirustwits Jun 02, 16 10:18 AM

Done for the day total time trading today was 3mins18s

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