Traders of the IRP

[Durkkdiggler]

GM, holy down!

[Durkkdiggler]

GM, Holy SHEEET

[buyittradeit]

Good move!

[Durkkdiggler]

yup that explains the bounce off a buck after earnings. lol

[Durkkdiggler]

i grabbed today @ 1.15. yippeeee

[buyittradeit]

btw those guys are listed on the Amex right? Well, in order for them to stay listed they must trade above a buck.

[buyittradeit]

WEL annotated. I would put a stop in at a buck but it looks pretty darn good for a bottom play imo.

[Durkkdiggler]

buyitt,

Ticker: WEL (boots and coots) does .98-1.00 look like a entry point to you considering its history of trading?

[Durkkdiggler]

I looked into it for a bit. Simplgreen's board had me interested in it, but I never dove in. I would certainly try it in the near future.

[buyittradeit]

Ever trade the forex market? Can be rewarding however the leverage can go against your trade in a worse way then a otc lol. This is why I try to scalp. Mind you I have held for long time frames but resist averaging in because of the the leverage.

[buyittradeit]

Glad you enjoyed it:) Depends on the fibernacci retracement. But some that I hold like SCG or WIN have a d.r.i.p. So I tend not to add to these while they dip until a bottom is confirmed.


For example WIN broke support last year so I got out and waited for a re-entery point. Took a loss of 20% from a 10% holding in my long position. That 15% would have been worse if I didn't have the divy going back into the stock and if I had waited.


When I started to re-enter it was a slow process because it had no prior support. So I added with bids until I had the 10% holding back. In all I saved money more by stopping out of the long at 20% then adding. That is a low beta stock and low beta doesn't tend to act like that in fair markets. Then again we are not in a fair market lol.

[Durkkdiggler]

very cool. I also watched one of you chart evaluations.

You mentioned stop loss. I use stop losses across the board. my number is 20%.

My question is should a stop loss be adjusted differently for a long term stock, compared to a short term hold? for instance long term 50% stop loss, short term 20%. I have had many instances where I get stomped out only to see the stock return back up to normal levels the next day.

Also, Would using the 20% and buying back in be a better practice for long term?

[buyittradeit]

I made a video discussing risk management. Tell me what you think.


http://tinyurl.com/q9848h


I think this applies to all really. Tell me what you think :)

[buyittradeit]

cool.

[Durkkdiggler]

Thanks buyit. I usually give a OTC/pinks 3 months to move or 20-30% stop loss percent. I don't gamble too much money in pinks. Most of the time I get stomped out of my trades. I look for stocks with up and down trends like BQI to make money between .70-1.20.

I take gambles on earnings. Took profit with ICO, and lost (stomped out) of WEL (Boots and coots).

Got to run to work. Talk to you later.

[buyittradeit]

lol nothing sneaky just RoR

You will sometimes come across the concept of Risk of Ruin (RoR) in discussions of risk management and trading system evaluation. Simply stated, the RoR is the chance of blowing out your account. Each of us has a different idea of what exactly that means, so the RoR will vary from trader to trader.
For example, assuming two traders use the same trading system in the exact same manner, the trader who considers “ruin” to be losing 50% of the account or portfolio value, would have a higher RoR than the one who views “ruin” as meaning a 75% loss. After all, it is less likely that you will lose 75% than 50%.
The RoR is mostly discussed when evaluating trading methods, but is tied very closely to risk and money management strategy. The more you are putting at risk on a per trade basis, the higher your RoR is going to be, all other things being equal. Other factors which contribute to the RoR determination are win rates and average win vs. average loss figures.

1)The starting point for any good part-time trader is to form a strategy. The first step to forming a winning strategy is to pick a timeframe that will be most suitable to trade within. Select a timeframe that you can work in productively.
2)Successful trading, as with any other meaningful activity, requires the proper mindset. ((((((((((((((Remember gamblers 2nd biggest thrill is to lose so try not to gamble))))))))))))))
Research is the key to success. Find out why a stock or currency has went up then understand why. Some of it maybe from a t/a or f/a point.
3)Any discussion of trading must include the topic of risk. It is risk, or rather the misunderstanding and misapplication of it, that most often trips up new traders, preventing them from ever becoming old traders.>>>>>>>>>>>>>In other words would you let someone blindfold you and led you into a building without ever knowing where the exit is? Hope not. People buy currencies and stocks because they think they will go up. If you don't understand compounding gains or stoping a loss then it should be understood. With otc's and forex being more risky it is some time better to use a wider loss. But always lock in gains. You like the currency or stock? Cool take profits and add to the support. You think your down to much to take a loss? See first paragraph.<<<<<<<<<<<<<<<<<<<<<<<<
4)Before you can properly outline a meaningful risk or money management strategy you first have to understand and define your personal risk tolerance. Some people are naturally risk-averse. They will tend to only feel comfortable exposing small amounts of their portfolio to the potential for loss.

[Durkkdiggler]

ahh, you sneaky trader you. I need to take lessons..

[buyittradeit]

Risk vs reward. Never play more then you can lose and you will never go under. A easier way to play something like that is by a stock that channels near that one like AAPL or the etf (XLK) that is cheaper but doesn't have the high beta like those two.

[Durkkdiggler]

that is a LARGE cap. 50% loss would put me in chapter 11. LOL

[buyittradeit]

btw I did that chart a few days ago. Almost got stopped out today (check post on GOOG board)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37611489

[buyittradeit]

lol I just like the pic in the ibox. In order for it to be good you gotta throw some good large cap stock plays like this one.


If it breaks below the support then I will consider going short.

[Durkkdiggler]

it might get good? lol

[buyittradeit]

DUDE I had to bookmark this.

:)

[Durkkdiggler]

Thanks!!

[Durkkdiggler]

I feel the need to make public what I own personally before the rats come out of hiding. Any IRPS want to be part of this board, PM Me.

[SFGiants]

added to the favorites....although i'm not IRP, i do enjoy stalking some of them

[Durkkdiggler]

Hey Geezy welcome!

[SFGiants]

LOL cool board...

[Durkkdiggler]

looking at ONNN - semi conductors

[Durkkdiggler]

Durkk Owns MCIO, AIG, and Flipping BQI