How to maximize your success with a Trip-Zero?
To pull off a successful trip-zero trade,
here are some tips and rules to consider following:
Don't go and buy a dormant 0.0001 stock with no bid,
unless you plan on holding it for a long time
as a lotto ticket type play.
> You want to find a stock that has interest,
or that you know will be getting interest shortly.
> This could be due to news, a promotion, a stock alert,
or plain old hype,
generated by big players on a message board.
Don't chase a trip-zero very far.
> Every tick you chase,
represents a big gain for the guy who is selling you shares,
and much less of a potential gain for you,
if the stock continues to run at all.
> If a stock has been based at a 0.0003 Ask for a long time
and all the sudden gets hot,
try to get shares at .0003.
> Depending on how big the hype is,
and how easily the stock moves,
maybe go for .0004's.
> Any higher than that and you're setting yourself up for a guaranteed loss if the hype subsides.
Try to buy at the last minute.
> Trip-zeros almost always follow the same routine.
> Nobody wants to buy the Ask until it starts to fall.
> You never know how many shares are left on the Ask,
but when it goes from 8 market makers down to 3,
you can probably assume there are a lot less.
> You want to be buying those last shares
as there is a much greater chance of the stock up-ticking
soon after you buy.
> This is not a secret technique,
and you will see that others are waiting to pounce as well.
> Watch some trip-zero's trade
and you will see that as the Ask begins to fall,
buying volume will pour in like there's no tomorrow.
> If you miss it and don't get shares, don't worry about it.
> Either wait on the Bid,
or simply move on to find the next play.
Once your buy order fills, set your sell order immediately.
> If the stock is moving slow, get in line one tick higher.
> If it's going fast maybe 2 or 3 ticks.
> You can always modify your order,
but you want to get your order in "the line" as soon as possible.
> If the stock doesn't seem to be gaining momentum,
hopefully there will be enough buying to clear out your shares, even if the asking price doesn't totally clear out.
> Getting ahead in the line can make a big difference.
> Again, if the stock starts getting big buys,
you'll likely be able to modify your order to a higher price before your shares sell.
Be ready to pull the trigger to get out even.
> If you were one of the lucky guys to get shares
at the Ask right before it up-ticked,
you are now in pretty good shape.
> If you have to you, can sell your shares at the Bid
and get out even (minus commission of course).
> Trip-zeros will very often sit idle for a while
after an uptick,
because nobody wants to jump up
and hit the new Asking price right away.
> It's a big percentage increase,
and nobody wants to be the only one to pay it.
> You will likely see "paint jobs",
a few small orders hit the Ask.
> These are used to paint the ticker and chart,
and get people motivated to follow along and hit the Ask.
> Most buyers will wait to see some bigger orders come in,
or for market makers to fall off the Ask,
before they'll buy as well.
> If the stock sits for some time with little buying
and the Bid starts getting pounded,
you might consider getting out even.
> You might be selling early,
and the stock may very well bounce back and continue,
but just know you may be passing up your only chance
of getting out without a loss.
> This is always a tough call
and should be made on a case by case basis.
> Just remember, nobody ever lost money
(at least much of it) by selling even.
If you do find yourself in the fortunate position
of holding cheap shares of a trip-zero mega runner,
(Say you bought at 0.0002 and the stock is at .0005)
you should strongly consider taking profits if you haven't already.
> A lot of traders like to sell half their shares at a 100% gain. > This locks in profits equal to the original buying capital.
> The rest of your shares (referred to as "free shares") represent pure profit no matter what price you sell them at.
> This technique is definitely safe,
and sometimes you will have the stock continue to run,
increasing your profits.
> Other times you will be better off selling all of your shares, but it is up to you to determine what the longevity of the play might be.
> Just like the last tip, nobody ever went broke taking profits!
If you are fortunate to have a win with a trip-zero,
and you've sold your shares, don't look back.
> You've made your money and it's time to move on to the next play.
> Traders will often try to trade the same stock again.
> They think, "It was good to me once, maybe one more try.."
> This is an addictive, and dangerous thought process.
> You may make out twice or three times occasionally,
by playing the same stock again,
but more often than not,
you will be playing the stock on its downtrend,
and you'll lose money.
> Take your money off the table and go find another one!
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