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good point lol
let's see what he says in another 15 years when Benny asks for keys to the Camaro...hehehehe
I don't think you need US to feel great about that little cutie!
lol well for what ever reason thxs....
that's cause it's so rare to see a proud AND sober grandpappy...lol
HMMM that me be a great idea... for sure Family values seem to be getting worse in America, but then theres people like you and Chu that for no reason make me feel great about my grandson.... lol...
Maybe you should!
That would be the best strategy of all! Show a picture of your grandson so that people see family is most important of all and people shouldn't plunk down money on pennies that should be used for their family's future.
Or something like that.
I didn't show then on this board rotf...
EFFECTIVE TRADE MANAGEMENT
Managing open positions is the most difficult task the swing trader faces. Danger can rear its ugly head at any time and turn a healthy profit into a nasty loss. Too often, we jump into a good setup, only to watch it fail because of poor trade management. This is especially true with newer traders who think the markets are little more than a pick-and-play game.
Experienced players take the time to master the intricacies of the trading day. This is a broad-ranging task that requires considerable devotion. But the payoff is worth the effort because it keeps them out of danger and protects their bottom lines. To get you started on the long road to effective trade management, here are 20 ways to turn that great idea into cold, hard cash.
1. Decide in advance how actively you should manage open positions. The pros watch every tick and act on short-term swings. Part-timers read the morning paper and learn everything they need to know. Your own efforts need to fall somewhere in between.
2. Choose your playing field wisely. Track the weekly price bars if you invest; the daily bars if you're a swing trader; and the 60-minute bars if you play hard in the intraday markets.
3. Outline a specific strategy to deal with overnight positions. Learn when to stay put and when to jump ship ahead of key reports and news.
4. Set aside time and capital for unexpected opportunities. Fresh ideas show up all the time and demand your attention. Build a routine that filters these prospects quickly and efficiently.
5. Align your positions to current market conditions. Overall sentiment, external shocks and volatility affect the success or failure of your trades.
6. Trade with the buy- or sell-swing within the market. Most of the time this tracks a three-day cycle for swing traders and a 21-day cycle for position traders. Find your place in the swing and take advantage of those who execute against nature.
7. Have a proactive plan for the first and last hours of the trading day. Newer traders should sit on their hands during this time, but the pros can use it for most of their decisions.
8. Become a student of time-of-day tendencies. Markets tend to trend within narrow time windows, while fake-outs take control for the rest of the day.
9. Choose a set of averages and indicators you're comfortable with, and then leave them alone. Learn to interpret conflicting information rather than searching for the perfect indicator.
10. Track the Tick indicator closely and watch its short-term cycles. The Tick has a life of its own, and it will save your neck if you let it.
11. Keep one eye on your positions and the other on the indices. When a stock moves more sharply than an underlying index, it should continue to do so. This becomes very important when the index starts to move.
12. Follow round numbers on everything in the market. Watch how your positions react to 10, 20 and 30. Round-number support and resistance can be greater than old highs or lows.
13. Look for breakouts and breakdowns of the two-day range. This will tell you if your stock is trending, or running in place.
14. Become a student of price gaps and categorize each one. Then tell yourself what you'll do the next time your trade hits one.
15. Recognize when you're wrong and need to get out. Find the price that ruins the trade, and don't outthink the market when it gets hit. The move could be a fake-out or the start of something big.
16. Don't overanalyze your positions. Let each one speak for itself. If it has little to say, get out and move on to the next trade.
17. Become a tape reader. Look for early warning signs of a move against your position or confirmation you did the right thing.
18. Trade small if you're new at the game. This will teach you important lessons at a very low price when you make a mistake. Neophytes should concentrate on learning how to trade and not worry about making money.
19. Increase position size during winning streaks because your performance suggests reduced risk. Reduce position size during drawdowns and wait for the clouds to pass.
20. Build a contrary relationship with the crowd. Your profit rarely follows the direction of the herd, so stand against it whenever possible.
MASTERING REWARD/RISK
Most traders ignore reward/risk ratios, hoping that luck will save them when things start to go bad.
This is probably the main reason so many of them are destined to fail. It's really dumb when you think about it, because reward/risk is the easiest way to get a definable edge on the market house.
The reward/risk equation builds a safety net around your open positions. It's designed to tell you how much can be won, or lost, on each trade you take. The secondary purpose is to remove emotion so you can focus squarely on the cold, hard numbers.
Let's look at 15 ways that reward/risk will improve your trading performance.
1. Every setup carries a directional probability that reflects a specific pattern. Always execute positions in the highest-odds direction. Exit your trades when a price fails to respond according to your expectations.
2. Every setup has a price level that violates the pattern. Only take trades where price needs to move a short distance to hit this "risk target." Look the other way and find the "reward target" at the next support or resistance level. Trade positions with the highest reward target to risk target ratios.
3. Markets move in trend and countertrend waves. Many traders panic during countertrends and exit good positions out of fear. After every trend in your favor, decide how much you're willing to give back when things turn against you.
4. What you don't see will hurt you. Back up and look for past highs and lows your trade must pass through to get to the reward target. Each price level will present an obstacle that must be overcome.
5. Time impacts reward/risk as efficiently as price. Choose a holding period based on the distance from your entry to the reward target. Then use price and time for stop-loss management. Also use time to exit trades even when price stops haven't been hit.
6. Forgo marginal positions and wait for the best opportunities. Prepare to experience long periods of boredom between frantic surges of concentration. Expect to stand aside, wait and watch when the markets have nothing to offer.
7. Good setups come in various shades of gray. Analyze conflicting information and jump in when enough ducks line up in a row. Often the best thing to do is calculate how much you'll lose if you're wrong, and then take the trade.
8. Careful stock selection controls risk better than any stop-loss system. Realize that standing aside requires as much deliberation as an entry or an exit, and must be considered on every setup.
9. Every trader has a different risk tolerance. Follow your natural tendencies rather than chasing the crowd. If you can't sleep at night, you're trading over your head and need to cut your risk.
10. Never enter a position without knowing the exit. Trading is never a buy-and-hold exercise. Define your exit price in advance, and then stick to it when the stock gets there.
11. Information doesn't equal profit. Charts evolve slowly from one setup to the next. In between, they emit noise in which elements of risk and reward conflict with each other.
12. Don't be fooled by beginner's luck. Trading longevity requires strict self-discipline. It's easy to make money for short periods of time. The markets will take back every penny until you develop a sound risk-management plan.
13. Enter positions at low risk and exit them at high risk. This often parallels to buying at support and selling at resistance, but it can also be used to trade momentum with safety and precision.
14. Look to exit in wild times in order to increase your reward. Wait for price acceleration and feed your position into the hungry hands of other traders just as the price pushes into a high-risk zone.
15. Manage risk on both sides of the trade. Focus on optimizing entry and exit points and specialize in single, direct price waves. Remember that the execution of low-risk entries into bad positions allows more flexibility than high-risk entries into good positions
not me...it was GDOG and those pix of benny
i see churak shut the traffic down on diz here board >> just ban him suuuuuuuuuuuuu j/k hehe enjoy all
lol no way i could buy and leave l2, its a sickness i have,
ROTF...easy...buy a stock and immediately go to the kitchen and bake a cake...
If anyone can give some help figuring out how to hold a stock for more than 3-4 minutes please come to the bounce thread and explain tia
Gdog.....http://www.investorshub.com/boards/board.asp?board_id=2346
Yup...Vive la France!!! Guilty until proven innocent!!!
Those were Wayne's words, I just copy and pasted....but I do live by them until a stock proves it's not a POS.
4godnwv:
1. That was not me spouting; that was an excellent (IMHO) post made by LANCE on his DAYTRADING board
2. It was WAYNE RUMBALL, not JIM, that coined the phrase...ALL STOCKS ARE SHIT...
Churak - I'm a swing-trader myself [whatever THAT is] but agree with the essence of what you just spouted -
Personally, I ride the indicators - they go up, they go down - the sooner you catch them in the up cycle, the more potential reward and potential risk as well - the longer you wait the less reward and risk you face - buying them on the down trend should only be done by people who are on huge quantities of medication.
When folk start talking about the lastest momo being a sign that we've struck GOLD - it's usually time to bail -
On the other hand, when they are cussing the CEO, CFO, COO, each other, every chartists that ever posted on the board, Jim Cramer, and MM's in general - I take another look at the indicators, cause the bottom is often [not always] near -
The dog-track is fine, just don't kiss the dogs!
I like Jim Bishops take - all stocks are junk - if you lose money on one, don't be surprised, sell it, it's junk! If you made money on one, be thankful you made money on it, it's junk, sell it!
GT's
4God
I don't understand how you guys find these garbage stocks early? What the heck are you all looking at? I'm not a day trader, but I guess if I had the ability to find these pennies before everyone else, I'd sure be more motivated.
Posted by: lancebps
In reply to: None Date:12/7/2005 10:17:41 AM
Post #103145 of 103145
daytrading means you dont marry a stock...
you buy on the move and sell when it slows down..
i see traders posting about walkdowns on stocks that are red and hitting bottoms and turning back up,you can have one and if lucky two bounces on the first day of the downtick,but no daytrader should care right now about stockpiling a gzfx on the bottom and continue to care until there is news and a strong push..
stop marrying crap that are being diluted,ride the wave and than fall or swim back out and find another freaking stock...
LVEL - Cooking yet again....... Buys coming in at .055!
Too funny...seems I wasn't the only one bored on Friday and figuring what the hell, hatemm's has horseshoes LOL
Wow Jim....nice play on SYCI...more money..more money...more money!
nice double from Friday
Excellent post, got it kept. Very good advice, now if I can only make myself follow it!
Welcome sub!
I look forward to seeing you post here!
awesome board, susie! i look forward to learning here...thanks, sub
Thank you harbs..... great post
a few notes from over the years that i have down on my "memo to self" pages, i write them in a positive way to condition myself to be what i read:
General Rules:
-I protect my account
-I follow the gappers, if the volume stays, I enter on pullback
-I play the bounces large, I nibble first to test and get in, then add…when it gets real ugly, I add bigtime..(speaking of intraday bounce only) Averaging down is not good trading - and I'm not an investor..
-I only play sub-dime stocks w/ lots of volume and lots of MM’s and lots of shares - otherwise throw chump change at the small low floaters
-I don’t make boredom trades
-I don’t chase, I wait for the inevitable dip – I am a pull-back specialist
-I don’t get stuck watching a stock all day on low volume that trapped me earlier at it's highs
-I learn from bad trades, every single one of them. I don't however complain and get negative and whine about it, that is not "learning" - that is getting out of focus and brings about an attitude of failure ( always working on this one )
-I abort bad trades immediately. Pride has no place in trading...
-I make most of my profits in the first and last hours of the day..I don't give back profits mid-day..
-I check my emotions at the door of the office..This is how I earn my living, it's business...Spend time making money rather than talking about making money...
-I am flexible...The market is always changing, the easy money of the "bubble" is not there, but every day presents possibilities, whether it's a .0001 stock, a $400 stock, a short, a long, options, etc etc...
-I'm thankful for the blessing of trading
Next Week!!!
Congrats on the new board doing so well, Susie.
Was off for a few weeks to have knee surgery.
Made about $800 for 2 weeks. That ain't gonna cut it.
Back to the real job this AM
Dave
lol...well, stop it! hopefully if you're an otc trader it will pick up soon...i'm 95% naz flipping all day because of slow volume on the pennies..
I resemble that remark
in case it can help some poor trader
hey susie, congrats on board...good idea..
will post a few of the tips i use daily for myself in case it can help some poor trader lol...
LOLOL!
Or
"It's a blessing to be on the pinks"!
"We have already won"
The list is endless!!
LOL could be, we might add a few others as well.
Here's one. When you hear "ALL IS WELL"...it probably isn't.
That may be the best strategy on this board so far!
Now that is a good strategy.
"stop following willy wizard"
ROTF so did I...what's with Friday afternoons?
Oh well it's nicely up from my buy, or at least it was at Friday's close.
Thanks for finding that lady!
I think I remember reading that somewhere!
Susie won't be deleting anything
I'm sorry Mary......pweeze forgive me.
Found this on another board, and thought it would suit the strategies here...
BEFORE YOU BUY AN OTC PENNY STOCK
There are several key areas to look at when doing DD on an Over-the-counter pennystock. And it doesn't even include looking at the financial information.. . that is the least important thing to look at.
Share structure and distribution is the FIRST place our eyes should go when looking at an OTC stock. Don't even READ the news until you know whether or not 5 million shares were sold at .005 to a company in the Cayman Islands.
If so, you can rest assured that there will be heavy selling on any run up, as each new buy is met with an insider sell. And the stock will probably then get heavily shorted near the top. . and driven down to nothing. . and I do mean NOTHING.
And if the company does not report their financials to the SEC. . .RUN AWAY. Don't even consider them, because they will surely rip you off any way that they can. And if they SAY that they will soon be reporting their "audited" financials. . .run even faster. . .this means they have NO INTENTION of filing with the SEC. And even if they say "we will be filing with the SEC" or even "we HAVE submitted our financials to the SEC." DON'T BELIEVE THEM.
MDCE put out a half dozen press releases telling shareholders that they filed their financials with the SEC. . .but somehow. . .as if by magic. . .they have never appeared on the Edgars.
This stuff is the BASICS of penny trading.
SECOND, look at the HISTORY of the stock. . .was there a reverse split or reverse merger in its past? If so, there will probably be more problems or more reverse splits in the future. How long has the company been in business? It is one thing for a company to come up with an idea. . .it is CLEARLY another for same company to figure out a way to successfully market that product or service. . . and it is another thing yet, for the company to properly manage their money.
Take down the names of the officers of the companies, the investor relations people or firm and any other important parties. . .and do a "entire website" search at the SEC. This is not an Edgar search. . and can be found on the main page of the SEC, which EVERY penny trader should know very well. If your party comes up in the search, you can know their history. . if not, it does not mean they are "clear". . .they still could be under investigation or have played a smaller role in other scams, etc. . . .or just have never been caught. Be UN-trusting as a defense to loss and you will increase your chance at gains.
The easy way to do searches on SEC is to use "adj" between names like
John Smith. . ."john adj smith" . . if it is an odd last name, it should be fine by itself. . "stephanapolous" or "gianapolitana" or "santodominguez" etc. . .otherwise use adj on firm names like "La Jolla adj Capital" or "La adj Jolla adj Capital" . . this will keep the thousands of uses of "capital" or the city "La Jolla" from coming up in the search. It means literally adjacent" words.
THIRD, read the press releases with a cynical eye. . . if they say that the industry is reported to generate 14 billion in revenues each year and we estimate that our revenues in the coming year will be between 40 million and 60 million dollars. . .. RUN away.
If there is no LOGICAL and detailed explanation of HOW the company plans to make ANY money. . .then they don't. . . they just plan to sell shares. . to you? . . hopefully NO. . to the suckers that don't have a clue what they are doing. ANY reports of "projected" revenues should be based on PRIOR performance. . .if not, it is just a pie-in-the-sky arbitrary number picked out to make them look good to prospective penny traders.
If the company headquarters is in Vancouver, Boca Raton, La Jolla, Denver or Las Vegas. . . . RUN AWAY. There is an old saying in the record biz, where thousands of demo tapes are sent every week. . . "if we reject 100 percent of those wanting a record deal, we will be correct in our decision 99 percent of the time. . .and that ain't bad"
By catagorically denying ANY company hailing from these cities, thus rejecting 100 percent of them. . .we will be correct in our decision 99 percent of the time. And that is not bad.
Other suspect cities, which would require EXTENSIVE DD to justify,include New York City, Dallas, Houston, Palm Springs or other cities of the Coachella Valley, Ft. Lauderdale or other cities in South Florida, any city in Nevada, ANY city in Canada where everyone can short-sell penny stocks, any other "resort" city. . .
If Gucci has a store there. . .then chances are your company does not operate a 50,000 square foot building in the same town. . but rather is just one of many operations out of a small office there.
FOURTH. .INVESTIGATE. . . A good way to find out about the company? CALL THEM. NO, I don't mean to call the number they provide you. . .I mean call the local area directory assistance and ask for the company name. . . I have even gone as far as asked for the numbers of each of the officers of suspect companies, only to find that NOBODY had a listed number. . not even the company.
If the company has an unlisted number. . .think about it. . their customers or clients will not be able to find them. . they are absolutely bogus. If the CEO or his wife answers. .or there is a baby crying in the background. . .guess what? The company is being run out of the kitchen table of a house, and they want your money. . .why?
There are bills that need paid, that's why.
Another good trick, is to offer to visit the company headquarters on
short notice. . .say something like I will be in town first thing in the morning and would like directions to the company headquarters, so you can report back to your thread on Silicon Investor. . .yes they all read our threads.
If they say the company is moving, under construction or give ANY reason whatsoever for not allowing you there. . . you have your answer. . they are bogus. .don't believe them. . .if they offer to meet you elsewhere or to guide you in. . . decline and say, you may be late and insist on getting precise directions to the company headquarters. You will be amazed at the number of companies that will refuse to tell you.
If you are still interested in the company at this point. . .then you must ask yourself how much you are willing to lose. . . if you are "investing" 2,000 or more dollars, then go to Southwest Airlines website on a Tuesday thru Thursday and book a 33 to 99 dollar "internet special" flight there and go and see them for yourself. For just a same day trip. . or overnight if you feel adventurous. . .for just a few hundred bucks. . you can get a first hand account of where your money is going.
If they sell goods. . .you want to see the warehouse, shipping, receiving department. . .it should be impressive. . even if it is tiny. . if they sell services. . you want to see the laborers performing these services. . .if the company is nothing more than a small office with no laborers, because they "farm out" or their workers work "out of their homes" . . .RUN away. That is a lie. . the company is in business just to sell shares. In which case, be sure to note the leather interior of the CEO's car. . because that is what your 2,000 bucks bought.
Note the name or names on the door. Instead of the company name, does it say "capital.. .equity. . .investor. . .relations. . .financial". . etc??? Do
you know why? Because they operate NUMEROUS companies from the same office. . . in which case, your presence is not only NOT WANTED. . .it is threatening to their livelyhood.
If that is the case, I would not bother to even enter, as it may be a potentially dangerous or threatening situation. . . I would turn around and never look back.
But here is the part of penny trading that is the most important of all.. .and what I expect from each of us here on the fishing thread. . . when you have information about these companies like that described above. . and someone else is getting suckered into the same company. . . have the decency to tell them.
You don't need to go on the thread and tell eveyone they are invested in a bogus company. . .chances are good that they have already figured that out. . . but in the course of daily discussion, when the name pops up. . and you can shed some light. . do not hold back.
If they were unlisted. . say so. . if they have convertible debentures from an offshore placement. . say so. . .if there was a 1 for 100 reverse split a year ago. . .say so . . etc etc etc.
Not every company on the OTC or the Nasdaq is bogus.. . . but as I said on the Scammy Awards:
Welcome to the Over-The-Counter market of Electronic Bulletin Board and Pink Sheet stocks.
Out of 100,000 issues,
90,000 are scammys
9,000 are clueless
900 are really trying
Leaving 100 that are worth buying.
mary has posted some good stuff here, why should Susie delete them?
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