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_nowrealtrader
Scott_nowrealtrader 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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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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YawnAlot
1
YawnAlot Mar 25, 17 12:57 AM

It went through 4 for a second and didnt close over it along with a nice big upper wick which is a sign of weakness, I dont think it was a bad entry,, it was a 4 dollar fake out possibly a mini short squeeze, and anyone who jumped in early long got screwed, ur dip buy plan was a bit better but stocks that gap up this much usually end red

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

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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friesian
friesian Mar 15, 17 6:03 PM

I am just papertrading, but holding it over night too. It is a stair stepper pattern that Tim S. mentioned in his penny stock 101. With the news mentioned by bryan3121 it might be spiking tomorrow morning. No saints involved. ;o)

petwyt1218
petwyt1218 Mar 15, 17 6:26 PM

Ah ok. As of right now, after hours are looking great. But watch tomorrow morning because oftentimes stocks that have made their move aftermarket have a rather boring next day, both premarket and then regular trading.

friesian
friesian Mar 16, 17 7:34 AM

Took a look at this trade. I think I'll have to cover my PAPER as soon as the market opens since it is running into resistance. But it was good to keep it over night. We'll see. Good luck.

Bryan3121
Bryan3121 Mar 17, 17 10:05 PM

I got greedy and didn't stick to the plan. Lesson learned

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petwyt1218
1
petwyt1218 Mar 11, 17 2:03 PM

You don't have to do that if you dont want. I input all my trades manually. You go to 'my trades' and then 'post a closed trade' on the left side and u can input all the data yourself

RBI
1
RBI Mar 11, 17 2:19 PM

I input my trades manually too, and then later I "verify" them...just know that you have to re-type your comments when you import them.

huperauxano
1
huperauxano Mar 11, 17 6:00 PM

I am using manual entry because I can't get Interactive Brokers to link up. The profit.ly trade record, no matter how you end up entering it, is very motivating. It is nice to have track record of wins and losses with profit chart to see how you are doing. I am still at an overall loss but my chart is turning around which gives me some motivation to press on....

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Zaleucus
1
Zaleucus Mar 10, 17 9:59 PM

keep watching all the videos and you will start to get it, then the fear will subside. Take it slow but stud till you see the best setups and only trade the best setup. Volume is key like CATB it had nowhere to go but up with that parabolic volume.

AngelTrades
AngelTrades Mar 10, 17 10:52 PM

@FirstRedDay I'm very dedicated :) and You're right! I need to "Aim Small, Miss Small" Thanks :)

AngelTrades
AngelTrades Mar 10, 17 10:55 PM

@viticoinf87 Haha true FOMO is a baaad thing and even if I am wrong when I'm in a trade I shouldn't get angry because, "To be angry at the market because it unexpectedly or even illogically goes against you is like getting mad at your lungs because you have pnuemonia." - Larry Livingson. Thank you! :)

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petwyt1218
1
petwyt1218 Mar 09, 17 11:09 PM

I still do and Im sure I will till the day I die. December 31st 2015, CEI spiked from 2 to 10 and back to 7 in 1 day. That was my first profit and the moment I got addicted. Congrats on your first profit!

huperauxano
huperauxano Mar 10, 17 5:20 PM

Awesome! Glad to see you made the jump into trading! Now post on profit.ly - the good, the bad and the ugly....

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petwyt1218

@Turbobob Hi bob, coming back to what we were talking about; you mentioned how the 5ema was good support for the stock the whole day but from what I see on my screen it broke through it quite a few times so I am unsure I'm using the same ema you are. Same with the 15ema. Watching your videos it seems like your emas react much slower than mine, even though mine is set to 5 and 15 or so it says on Think or Swim. Can you just confirm that the ema's on my screen are following at the same speed that yours are? Thanks

Turbobob
1
Turbobob Mar 06, 17 8:07 PM

Your chart looks like mine. I don't use the 5 ema as a stop level. I look more at level two, how it is trading and support and resistanc elevels on the chart. 5 ema and 15 mostly to give me direction. But, on yor chart the 5 ema generally was a good support for the stock. The 15 for sure.

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petwyt1218
1
petwyt1218 Mar 04, 17 11:28 AM

I see. Alright I'll keep that in mind next time. Trying to think of what "everyone" is going to do and then being 1 step ahead of them. Thanks a lot Palmer

Palmer
Palmer Mar 04, 17 12:02 PM

The other side of that is the more times that resistance or support is hit and holds and then finally breaks through, the stronger the move through that area can be...as long as there is volume with the move.

petwyt1218
petwyt1218 Mar 04, 17 3:39 PM

Yes that I know that too so it comes down to managing risk. I just didn't know how quickly I should react to this type of price action. I didn't think a stock can dip 10% in 1 minute and that I have to be constantly watching the stock. Thought there was some more warning.

Palmer
1
Palmer Mar 06, 17 6:35 PM

These low priced low float stocks are some of the most volatile things to trade...gotta keep an eye on them.

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Turbobob
2
Turbobob Mar 01, 17 9:57 PM

It only represents a guide to follow. You take the reported short interest and divide that by the 100 day average volume. The resulting number is the number of days it would take if only shorts were covering and they all covered. A number less than 5 probably doesn't have much effect. 5 - 10 and a good catalyst and it probably adds momentum to the trade. Over 10 and a catalyst, let the fireworks begin,,,

NickE
NickE Mar 02, 17 6:32 AM

Good morning, Bob. CRBP just announced an offering at 7 dollars a share. Do you think that will have any downward pressure on this stock? Thanks very much!

speeddemon
speeddemon Mar 02, 17 6:55 AM

Thanks Bob, I'm still learning and your explanations are awesome!

Turbobob
Turbobob Mar 02, 17 7:57 AM

Nick - Generally it does.

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ksmedic
ksmedic Mar 08, 17 8:08 PM

Great video - Can you give any advice on locating good stocks to trade to someone that right now can't afford a high monthly subscription to a service such as STT?

Turbobob
1
Turbobob Mar 08, 17 8:57 PM

Finviz.com is very good. Even Yahoo finance. I also use the scanners that come with my trading platform at Sure Trader and Interactive Brokers

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Bryan3121
Bryan3121 Feb 24, 17 3:17 PM

0.20 cents a share doesn't pay for the commission.

ftmanglona
ftmanglona Feb 24, 17 7:52 PM

with an account being $500. You can make money on it. I wrote a blog about my $SINO trade, i spent $260 for 100 shares and turned those 100 shares into $100. With a $500 account, you HAVE to wait for the PERFECT setup. Wait for an earnings report/contract winner to come out and overnight it if it holds intraday/multiday support.

ftmanglona
ftmanglona Feb 24, 17 7:54 PM

I also made another $100 off 100 shares of $TOPS. With the exact same setup. So it is possible to grow a $500 account.

petwyt1218
petwyt1218 Feb 26, 17 4:10 PM

I use just 500 dollars per trade because I'm still new but I use Robinhood because commisions would kill me. My average trade winning trade is a little over 8% so over 40 dollars, but still. I'd recommend you use Robinhood for now.

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