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Anyone know why a ticker would change from letters to numbers in my brokerage account? The company had gone out of business a few years ago
DSGT - Did not pan out off my watchlist for now :)
MNGG - Quick Double up today - Dropping stock from watch list :)
6/27/18 Well what can I say another down day 5.84% but, on the bright side I am still in the trades. I did put limit orders in on FUAPF for .1926, DPWW for .0156 and AEXE for .0006 these would be my break even - commissions and will free up the money for trades that I feel are better as I learn.
Okay strait up move change - As you all know I am comfortable with my technical trading as I have study for years with options and Forex and the ABWN Trade is something that I feel I cannot pass up - The plan I have is frankly crap at the moment. Tomorrow I plan to free up my trades that I am in setting limits on all of them for what I paid to get in. If they sell It will free up funds for ABWN which I will still only trade with the limit of $100. As I noted before major changes in the overall plan this weekend.
LIBE - Part of changes to the plan is instead of scanning I will be looking at the breakout board (Hot!) and looking at stocks that are under .01 and have over 1Mil in volume. LIBE fits that bill. Looking for consolidation before getting into this trade. (I am not trading this live as the funds are still locked up)
6/26/18 - Trading Update For today my account took a downturn as FUAPF, DPWW, AEXE did not make any gains for today :(
6/25/18 - Trading update. Today my account saw a 3.37% increase as FUAPF and AEXE both moved up. DPWW sadly did not. Well, not to beat around the bush tonight my account is fairly small at this point so there is no other trades that I can add so to save time tonight I will be skipping my scan as even if I find one or two stocks I cannot trade them. I am going to keep my eyes open on the Hot section of this forum and see if there might be some merit to those stocks or see if it is to late to get into them.
VMGI does seem to have potential the question really is if the move is over. My current plan there is 2 issues with getting into the trade right now first is the volume not being higher then the past month and second is the RSI being over 50 - I will keep it on my watchlist though as I am trying to learn. Thrashing21 Why do you like this stock? What is your reasoning? Thanks Again for the lead. Here is my chart on it VMGI
VMGI = huge week ahead. Check it out!
CWIR - Another Gem, Really like this one but, sadly the funds where not there for the trade CWIR
ERUC - Did it stop trading? - Here was my setup, did not get into the trade
ERUC
WDRP - Entry would have been red arrow. I did not have the funds based on my account to get in the trade but, WDRPhere was the setup.
FUAPF-First Real Penny stock trade. Really this one I was looking more at cash flow and not using the plan I have set up. Just looking to get out here soon. FUAPH
AEXE - Got in on red arrow - Bottom red line is limit order, Top Red line is target, vertical line is sell date. Do you think 10 days is enough for the trade? AEXE Chart
Money Management
I place a limit order for stocks I am looking to trade based on charting. The buy limit is the 10EMA.
Amount I spend on each trade.
I look at my available cash. If my available cash is over $1000 then I divide it by 10% and that is what I spend on my top prospect for the day. Lower the RSI the stronger the prospect. Next stock for the day is the same except I subtract the first prospect, and this continues.
Example of this concept. Available cash in the account for the day is $5000. Stock 1 is 10% of that so I invest $500 into it. Stock 2 has available cash of $4500 for the day so 10% is $450 for that one. Stock 3 has $4050 available cash so $405 for that one. Stock 4 has $3645 so 10% is 364 and so on. Note usually after my scan of the daily stocks I only find 2 or 3 to trade in for that day.
If available cash is under $1000 then each trade gets $100 till there is no available cash left the rest of the trades for that day do not get traded.
I feel for best results I need to keep the money flowing in the account. Trades are only active for 10 days at which point I close it if it did not hit the target to make funds available.
Once in a trade the target is 3X the limit order. So, if the limit is .0006, then the target is inputted the night of the trade for .0018.
Also, when the accounts available cash is under $1000 at the start of the month I add $100 to the pool each month for more trading action.
Cashing out. Stocks that hit targets the profit is split 50/50. 50% is left in the account, 50% is moved to my personal finances where 30% of that 50% is set aside for taxes. Example – Let’s say the profit for a trade is $400 dollars. $200 gets transferred to my personal checking account. From there $60 is put into savings for a tax hold and $140 is personal use.
Charting and Fundamentals
There are 4 things I look at…
1. Is the volume from a bullish day? – Shows buying interest
2. Is the price under the 10EMA? – Gives me a limit price
3. Is the stock in a BB squeeze range? – Shows the stock is about to move
4. Is the RSI under 50? – Shows the stock is oversold
If all of these are yes, I move the stock to trading, if not I drop it from my watch list.
I currently do not look at fundamentals.
Example - TradingView
Finding Penny Stocks to Trade.
I currently use TD Ameritrade as my broker and Tradingview as my charting software. I set up a screener on TD Ameritrade with the following settings “Today’s Volume vs. Average = Heavy”, “Current Price = Less than or equal to $.05”. These settings are limited to only working after trading hours during the week. Next, I take and change the views from Screener Criteria to Volume. Then sort the volume column so the highest volume for the day is on top. Then go through the list looking at the chart for stocks with volume that is higher than the past few months. I stop my checking when the daily volume is under 1 million.
Here is an example TradingView
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |