REMINDER - DON'T get greedy! I jumped into NECA today at $0.0017 on the run up and exited a portioin at $0.0019 when it stalled. I just sold the rest at $0.0025 for a very nice profit.
It might go higher like OLIE did as well. I missed a lot of profit on OLIE, but the fact is: I MADE a profit on both!!!!
You will NEVER hit the bottom and the top all the time, the key is to take a piece out of the middle and then sit on CASH!!!!
No one ever went broke by taking profits.
And if you are on a small loss and it seems to be going south. Maybe sell a portion or all to protect your cash. If you at least sell a portion and it keeps heading lower, you saved loosing some money.
Just think, if you booked an average of 4% profit per trade, and traded 3 times a week, your money doubles in 6 weeks. So, if you only average 2%, it doubles in a quarter. Or if you average 3% and only trade 2 times a week, then it doubles in 4 1/2 months. (That's still over twice a year!!!) On the big gainers, take some off the table.
DO NOT GET GREEDY and if you are up a lot, sell a portiion to protect some profits. Those pennny's that seem like they are screeming higher, remember, there's lots of people out there happy with a smaller gain and getting ready to SELL.
Learn some basic technicals and use them, even on penny's. To know when a stock is getting really over bought. And always watch the buybing and selling volume.
Finally, when a multi-dollar stock goes up big time (5% to 15%) and you are still holding at the end of the day; be ready to sell some at the very open (first 5 minutes) of premarket the next morning. (Between 8 AM and 8:05 AM, maybe 8:10 AM) More than 70% of the time, a stock opens a lot higher in pre-market and then falls from there.
In closing, when you miss a run, don't worrry, a new one will come along soon. Better to miss a run and preserve profits rather than buy at the top. (It took me some years to learn that one too!)
Good Luck to all.
