Chaddo
1
Chaddo Sep 08, 17 4:20 PM

Don't feel bad about it buddy, good lesson learned. I did almost the same trade as you, then tried again on the second minor spike - and squeezed again. We were in the right ball park, at the right game, just a bit off on the timing ;-) Multiday resistance around there, with a bad sushi type chart = long term bag holders, making it difficult to spike too much, also, markets were down. We'll do better next time :-)

Skiwi
1
Skiwi Sep 08, 17 6:51 PM

It's okay no worries, my advice is short the higher low - best case you win, worst case - you lose a little, not a happy case - you miss out and a higher low never happens, it just keeps crashing, but you don't lose anything

karubin1224
karubin1224 Sep 08, 17 11:48 PM

@Chaddo hey there, thanks for your reply. i did see the bull flag formation and still got in so thats all my fault, but it is really nice to have a plan that would have played out if my timing was better. i was too emotionally shook to try to short again at the $6.50 retest/failure so i need to try not to let my emotions get in the way of trading. really bad sushi chart and massive short squeeze yesterday made me short-biased today so i am proud that i would have been correct. we will do better

karubin1224
karubin1224 Sep 08, 17 11:57 PM

@Skiwi hey skiwi, thank you for reading/replying. after the spike to $4.45, I was thinking that $4.39 would be the shorter high which was why i shorted there. i overlooked the importance of the bull flag formation as i was so short biased, which was why i got in at that bull flag formation and squeezed out. had i shorted at the second $6.50 retest, the risk would have been way less and i did see that but i was too emotionally drained to pull the trigger. need to watch for next time.

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petwyt1218
2
petwyt1218 Apr 29, 17 5:28 PM

It had an offering. That's never good news. This stock will trade at about 75 cents which is what the offering amount was

Dadbod1
Dadbod1 Apr 29, 17 8:04 PM

Really ..i must of not seen that but at 75...that double what it is ..good looking man..im hina say 1.50 or 3.00 by the end of year if fda gives the ok

Scott_PaperTrader_legit
Scott_PaperTrader_legit Apr 30, 17 12:18 AM

trying to buy a bounce here is more of a scalp with the offering so a BAD trade

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Received 1 Karma
scipion
scipion Apr 27, 17 4:24 PM

Stock breaks out either way because of the volume, shorting or good news. Consolidation in penny stocks is not consistent activity but yes, I heared somewhere that when the stock is being sold this counts as a volume and also, drives the stock up. Newbies are not that active in stocks but chasers sure. Once u hv a stock and you are losing you want to buy another batch as it lowers and then decrease your overall salling price. This is why Tim teaches to sale into strenght and don't take chances.

scipion
scipion Apr 27, 17 4:27 PM

As the beginner I chase stocks but then I don't rush to sale. This is why you should always leave money aside to be able to chase the stock. I actually did quite well, on 60 trades I have made few hundred dollars. I yet hv to form my startegy...

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Bryan3121
1
Bryan3121 Apr 15, 17 3:14 PM

The value of the dollar changes with inflation. It's like comparing the price of a loaf of bread in the 1930's to today's price of a loaf of bread. True bead was 15 cents back then but people made like a $100 a month. So a dollar stock in 1930's probably wasn't thought to be cheap by that economic standard. So with inflation what we perceive to be expensive compared to our value for dollar will equal one another. I wouldn't stress it to much. Worry more about become a consistently profitable tra

petwyt1218
petwyt1218 Apr 15, 17 3:59 PM

Bread was 15 cents and people made 100 bucks a month, but salaries have increased. Bread costs way more than 15 cents now, but people make way more than 100 bucks a month too. We, on the other hand, are not going to have our wages increased as time goes by and everything becomes more expensive. The only way to make more seems to be bigger % gains or bigger position size.

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jeff081874
2
jeff081874 Mar 25, 17 1:57 AM

long turn chart shows that it doesn't hold when making new high's....your risk reward for the dip even at 3.36 was around .70 at best

YawnAlot
1
YawnAlot Mar 25, 17 2:08 AM

@jeff081874 True that, i seen that right after that everytime it gets to 4 it gets sold off

cottage242
cottage242 Mar 25, 17 6:53 AM

I bought premarket at 3.15 thinking to take 50-75 cents a share. Did not expect it to go higher than 4 and if it did, knew it would be extremely quick from past history in viewing the wicks on those candles..

petwyt1218
petwyt1218 Mar 25, 17 2:13 PM

I took the exact same trade as you. You didn't make a mistake, there was nothing you could have done better. You had a good entry point, above the whole dollar mark and above premarket highs. These were good signs to buy. Just sometimes stocks don't spike and there's nothing u can do except get out quickly. Rest assured that if you continue taking trades with these proper entries, more often than not you will have a winning trade. No one gets it right 100% of the time.

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petwyt1218
petwyt1218 Mar 21, 17 4:18 PM

The 9ema on the 5m chart is a very popular moving average that many people use which is why it acts as support a lot, especially the first few minutes of the day during a morning spike when there are no pullbacks/support levels to judge from. During a morning spike I use the 9ema to judge if a stock is overextended and if it is I usually wait for a pullback to the 9ema before getting in. This is the logic most people use. However, horizontal lines for support and resistance are always better. In

petwyt1218
petwyt1218 Mar 21, 17 4:20 PM

Lieu of these when they're not available then yes the 9ema also serves as an effective stop. However I like to set my stop as the first candle to make a new low on the 5 min chart. Take a look at PULM this morning. The first red candle made a new low compared to the candle before it and I would have stopped out there. If I had waited for the 9ema then I wouldve lost out on a little bit of profit

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Jacob_925
Jacob_925 Mar 16, 17 8:07 PM

@Learnthings 300 in total so im not out of the game. still hurt me cuz i know better

Exile
Exile Mar 16, 17 9:26 PM

Hey I bought that at the exact same time for the r/g move and possible retest of the highs. Didn't work out so did Rule #1.

petwyt1218
petwyt1218 Mar 16, 17 10:15 PM

You had a good entry. That's where I would have bought too, especially when trading with larger size you need to anticipate the breakout because if you wait till it's confirmed, by the time you get in with a large position you get slippage. It's just if I saw that breakout reject, i wouldve been out of that trade a minute after I entered. No way I would've held. Early morning plays are very very quick.

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