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Nice strong close on NTEK after sitting flat most of the day.
Hell yeah! It's gonna be a fun ride!
Nah i sold yesterday at 0.076, as I expected a dip today. I did not think that power hour would have that affect on NTEK haha. Its nuts! Tomorrow my funds open up again, I will looking for a entry point again.
Are you still in NTEK? I hope so. It's still going up!
Wow! That one is definitely not done yet and good opportunities exist on the retracements. Way too much momentum there.
NTEK just ran up hard! Holy smokes!
Yes you will get the losses back! Keep at it and stay positive. It can be done. If I can help in any way let me know.
I will continue to armor my self with more knowledge, and I shall revenge my lost funds! haha
I would agree in that most Pennies do move on hype and momentum but many times it is a 10Q which gets the momentum started.
Thanks. Though filings do rarely affect OTC stocks, I truly believe that penny stocks solely move based on momentum haha.
I just checked a few companies 10-Qs, and they are definitely trading way over their book value .
Good post. Nice easy to read article/Link on earnings.
I highly encourage my fellow friends here to all read this article, and learn how to read and decipher a companies filings properly. That's if you don't know already.
http://www.investopedia.com/articles/fundamental-analysis/10/decoding-earnings-reports.asp
most of those plays were profitable, my favorites TUNG and EWRL went up 100%!
Well then, we shall watch it closely! Haha also thanks for the tip
I've been told it is. No news yet so I don't know the basis of of the rumor.
So its about to run?
I like trading them because when they start up, it takes little volume to gain a nice profit.
I'm afraid to trade pennies with no volume, even it may be at the very bottom.
Take a look at HIDC. Seems to have bottomed from a HOY of .20, trading @.0029 at the moment.
Good list of Picks to watch. I'll check a few of them out that I'm not familiar with. Lets hope for a good week this week with the plays you and others are in.
This is my watch list for July:
SPCBF @ 0.52
EAHC @ 0.4
SRBL @ 0.51
TUNG @ 0.37
EWRL @ 0.01
GLGI @ 0.45
KVPHQ @ 0.04
PCXCQ @ 0.19
SCRC @ 0.45
TCPS @ 0.013
WPNV @ 0.88
A FEW FLAT LINERS, POSSIBILITIES?
TDCP @ 0.2
DCTH @ 0.37
LSTS @ 0.42
MACE @ 0.43
I picked these simply by chart, I have not done further DD on them. This is for us to discuss as a group. Let me know what ya think boys.
yep its me! haha
It took me a bit to figure out who the heck KingKong was when I was scrolling thru a few Boards :)
The Mentality of the Successful Trader
Successful traders thrive on instinct honed within a framework of trading rules. On occasion, a trader who fancies himself a writer will publish a list of his rules for public perusal. Such discourses, which typically postulate generic guidelines such as "Know yourself" and "Limit your losses," are useless to the novice reader because there is no way to truly appreciate the meaning of the rules except through experience. They are likewise useless to the experienced trader who already has an innate understanding of such things. Therefore, these self-help articles are just that: they only help the author himself.
What this trader turned writer hopes to accomplish is to help other traders develop a foundation for building their own sets of rules. Successful trading starts with a proper mentality, not a list of ambiguous guidelines. To begin, we must understand why most people are unsuccessful at the trading game. The short answer is that unsuccessful players are too emotionally involved. They personalize every decision and have egos which are easily offended by unprofitable trades. Many such market participants simply cannot cope with the loss of even small amounts of money.
These emotions, when roused, dominate the thought processes of the weak trader, causing mental distress. The trader beats himself up from the inside out, and all the energy consumed with regret and disdain reduces his capacity to make rational decisions on future trades.
Those that personalize the results of their decisions often practice the following poor behavioral patterns:
They sit on losing positions with hopes of breaking even.
They consciously or unconsciously enter trades in an effort to make up for previous losses rather than on the merits of the new trade.
Despite a compelling setup, they do not open a new trade at a worse price than that which their last trade on the same asset was exited.
And perhaps most perversely, they fail to execute well (or at all) on trading opportunities in which they have the highest levels of confidence. After all, they have the most to lose, egoistically speaking, in these situations!
Successful traders, on the other hand, tend to be those who are most capable of handling the stress associated with a losing trade. They do not personalize the results of their decisions, and are therefore able to trade in a manner that protects their capital rather than their egos. Successful traders realize that there is no such thing as right and wrong in trading because the outcome is always uncertain. To the professional, there is only trading well or not trading well, and trading well means avoiding patterns of behavior that offer low probabilities of success.
To the dismay of individual traders the probability of success for each trade or trading system is not quantifiable. Granted, there are computerized trading systems that make fortunes via the algorithmic use of statistical analysis, but even for these systems, the success rate of each algorithm is dynamic and therefore never precisely known at any given point in time. Therefore, to trade well, one must develop a methodology of subjective judgment, and this methodology can only come from experience. Understanding the technical and fundamental forms of objective analysis are essential, but will not work well without a honed instinct. Subjective traders have a keen intuition, developed from years of experience, the desire to read voraciously, and the ability to utilize subconscious reasoning. (George Soros once revealed that he would close a trade if his preoccupation with the position made his back ache.)
Trading subjectively without personalizing results is perhaps the great quandary with which all traders struggle. After all, we all want to enjoy being right. We want to feel smart when a trade works out as hoped. But in reality, we must train ourselves to enjoy being successful while maintaining enough discipline to avoid judging ourselves by the profitability of each trade. The disciplined professional will not be unhappy with an unprofitable trade which he feels was well-executed, nor will he commend himself for the profitable, but poorly executed trade.
A well-executed trade is one implemented within the framework of one's own set of rules. Every set of trading rules must incorporate two essential components. First, they must contain strategies that reflect the nature of the trader. Markets are characteristically complex, reflecting the psyches of millions of players, and each trader must discover which approach to trading best suits him. In other words, which subset of market psychology can one profitably attack?
Second, all rule sets must contain an element of risk control. Risk is controlled both in objective terms, by not overexposing oneself to the potential for unbearably large losses, and in subjective terms, by trading within the purview of one's mental strengths so as to best choose entry and exit points (see Alexander Elder's Entries & Exits). By devising rules based on one's own strengths, a trader is able to approach the game with confidence rather than doubt. Doubt leads to duress, and it is under this circumstance that rules are abandoned, trades are executed from weakness rather than strength, and big losses are recorded.
Browse through the boards, alot of decent picks on them. Just make sure you double check with your dd and decide
Check out NXHZ. It's doing very well.
I sure hope so too. Thanks Gary
Believe it or not; sometimes in the Penny World patience actually does pay off. I entered NXHZ back the 1st week of June at 008. It fell to the 005/6's for some weeks thereafter but almost 3 months later it is now at 021 today. Lets hope yours too can make you some good $$$$$$.
Yep. I mean the stock is insanely under valued, its just a waiting game now. It will exploder sometime, I just hope it would be sooner than later haha. I've invested alot of money and patience into it
There are still enough venues that do allow Chilled stocks to trade though so hopefully it can continue to rise back on up.
Last time that happened, it rallied all the way back up to 0.26.
But the thing is Scottrade and TD Ameritrade both has it on no buy-sell only restriction. I wish I could buy some at this level, I would make a killing by doing so!
Also thanks for posting on my board just for fun haha
Hi Leftyi. Looks like LWCTF might have seen its bottom last week around the 03 level. Trending back on up the last couple days.
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