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Today, I will be announcing my frivolous lawsuit against Goff Corp later today. My press release should dip the stock and cause panic selling.
Everyone panic at that time.
I need to jump back into this stock because I got burned yesterday when the stop loss kicked in.
$$GOFF
"what is a good exit strategy if it goes down?...10%...30%..40%..when is a good time to cut a loss?"
For me, I first used 20-25% loss before I sold a stock. I quickly learned that after a couple of bad plays that it took forever to "win" back my money.
I later moved my loss percentage to 10-15%, which seemed a little better, but the still had me questioning if that number was too high. I later then said to myself, set the losses at 10% because I don't get hurt too much.
Since I was having trouble discovering an acceptable loss, I googled to see what others were saying. I was surprised to read that some "good" portfolio managers were claiming 2% loss is when they cut bait. 2%??
Of coarse, these loss percentages are based upon "good value" stocks, not these pennies. A 2% loss on a penny is nothing.
Now, my strategy is on a "good value" stock, my acceptable loss is 10%. On a penny stock... That would depend. If I think it will go up and stop losses aren't being triggered, I'll accept about a 20% loss, but I'm looking to dump in a couple of days. If stop losses are being triggered, I'm protecting gains, but if I've misjudged it, I accept a 10% loss.
A strategy I've come up with "fixing" a loss was to average down. Now, I've averaged down on a stock and rode it to the ground as paid insiders told me to buy buy buy. So, I didn't want to fall in that trap again.
I figured out, and it works well with pennies, is to accept a 10% loss, but at that point, instead of accepting the loss, I average down by buying more shares and cutting my losses to 5%. The bad part about this idea is that the stock could further go down and you have a 10% loss on more money.
I've been successful in this averaging down theory. I learned not to tie up all my cash on the stocks. Have some money on the side to support the average down to cut losses.
Now, to further add to this strategy... I questioned to myself, why should I wait until I'm profitable to sell this stock once I averaged down? Seemed like that I would see a trading pattern that the stock would trade in a certain range, but not to a point of my break even.
I realized that the money I used to average down the falling stock had a gain. Profits is profits. If I sold that portion of the stock, I have a gain, even though I have a total loss, but now it's a smaller loss. I could then take my gain and reinvest in the stock once I see it dip back into the stock performing range. If I keep flipping this stock with my gains, I eventually reduce my average cost were I can be in profit mode.
Reinvesting gains really worked for me. The key to this is to write down on a piece of paper your buys and sells with the stock and determine your average cost of the stock. Don't depend on the percentage number given on your broker account, because its easily misleading. Put pen to paper.
Now, I put pen to paper on all my stocks to see how well I'm doing. I don't get disappointed in accepting a loss on a stock. I can take that money and find a better stock.
Instead of focusing on my stock loss, I look at my portfolio value. As long as my stock account goes up, I'm happy. Every time the account goes up, that's my new bench marked.
Hope these strategies work for some. Sorry it's so long.
MrPics
Who's dumping to pay bills investors or company/associates?
Why not let it run then hit them with the one two?
$$GOFF
Oh boy, glad I wasn't using a Stop Loss Limit on these pennies. You could look up and your stock is down 90% and you are still holding the bag if BID support wasn't there.
I guess one would use stop loss limit if they think the stock will go back up if it fell lower than your order.
Seems way more riskier and not worth the reward.
Rather just pull the plug on a falling stock.
Anyone questioning the little dumps throughout the day? Seems to me that these little dumps to the BID is holding the stock flat. I'd understand the stock goes up, then a few dumps.
Was this the case with the other APS plays?
Just seems rather odd to me.
$$GOFF
Stop Loss on Quote
vs
Stop Loss Limit
Etrade changed the stop loss function some time ago.
Stop Loss on Quote is sell the stock to the BID price when the stock price reaches the set price. Bad thing about SLOQ is if there isn't a good BID support you may take a huge loss from what you set your price at as the computer works its way down the BID side selling your stock off.
That's my understanding of SLOQ.
Ok, what about Stop Loss Limit?
Please explain.
I use limits when selling a stock that I want to sell at a certain higher price higher than the current price. My limit would be displayed on the ASK and would be sold when a investor buys on the ASK.
Not certain how limits are used with stop losses.
Thanks
Might want to take a look at the stock charts of Ironridge portfolio.
http://www.ironridgeglobal.com/portfolio/
I currently have a meager gain in AXLX. Normally, I'd just bail at this point. However, seeing this portfolio, I'm going to stay for the future gains.
$$AXLX
A week dating any penny stock is like a marriage.
A week with GOFF isn't a marriage, it's more like having a suga momma.
When the money gets cut off, we'll find another one.
$$GOFF
Can you provide any evidence of this claim?
I find it highly unbelievable.
$$GOFF
Interesting, very interesting...
Wasn't it rather odd that the "lawsuit" post which brought down the stock was mainly reported by.....
Looks like a "Supreme" takedown.
Was this the dip you were hoping for yesterday?
AlchemyTrader:
Monday, March 18, 2013 4:12:41 PM
Re: MR.T. post# 8053
Post # of 8205
I sold way too early. Really hoping for a dip tomorrow on GOFF.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85820948
AlchemyTrader:
Tuesday, March 19, 2013 2:50:17 PM
Re: Mrpics1750 post# 818
Post # of 1017
News of the lawsuit is spreading out to the market. This play is doomed once that damn PR comes out. I hate that guy!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85861291
AlchemyTrader:
Tuesday, March 19, 2013 2:33:53 PM
Re: None
Post # of 1017
George Sharp is filing a lawsuit against GOFF.
Holy moly, when NEWS gets out, this is going to crumble...that bastards done this in the past to promotions because hes shorting.
How are they letting him do this?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85860323
AlchemyTrader:
Tuesday, March 19, 2013 3:58:13 PM
Re: None
Post # of 1027
2 minutes to sell...no one looking to hold overnight on this with the George sharp lawsuit coming!!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85865869
I really like how "George Sharp is filing a lawsuit against GOFF. " was put in BOLD for that panic selling effect.
I find other comments rather interesting as well.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85800194
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85802457
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85803043
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=85808759
UNBELIEVABLE!
$$GOFF
No trades today.
Flippers are gone.
$$PTAH
Good call in riding out the storm and calling out the BS. It's all about credibility when playing these plays.
Interesting how scam artists will point and say look over there and take your pocketbook when you turn away.
Interesting little fake we had today. Scammers are on notice.
Re-entry sometime tomorrow!
$$GOFF
Don't be greedy.
Have shares to feed the needy.
$$GOFF
Lets see 18 print!
$$AXLX
Giftcarding, hope you aren't in class.
The real lesson is unfolding before us.
Hope you didn't use that Student Loan for an investment vehicle.
She's going down....
$$GOFF
Two more pennies and a whole slew of people will be taking losses.
$$GOFF
Who is George Sharp?
Like I care at this point, I'm out.
Really, what's the beef?
$$GOFF
I'm out.
Here comes the sell off.
$$GOFF
Birds aren't chirping on twitter either about GOFF.
About to be out.
$$GOFF
Buying dips on APS plays is a good idea...
This one, I'm going to have to say is questionable. I'd have to watch the chart to get back in, if I'm out.
This isn't playing like the other plays.
$$GOFF
I guess that's the obvious I failed to look at.
Your right. No news.
Where are the fake PR's to get this moving?
$$GOFF
How about a green close?
Anyone??
$$AXLX
I'm getting the opinion of some...
I don't like the way this has been trading.
Thankful for my profits, but disappointed.
$$GOFF
Reverse in which direction?
I'm about to be out. Stop loss set to protect profits.
$$GOFF
Trading like a bouncy ball today. Up down up down.
Need a good super bounce for close.
$$GOFF
I've been questioning to myself if a smarter move wouldn't be take reasonable profits and stay away from the stop losses? Seems to me I've made more money without the stop losses.
However, with a APS play, I just want my money to ride without having to buy back in. Had to buy back in several times on the other play.
Trying the strategy, let it ride with GOFF. If someone has a different strategy, I'd like to hear it.
$$GOFF
Didn't see anyone say anything about Stop Losses.
Be sure to set them to protect profits.
I have a MBA in Finance. Most of what I've learned wasn't taught in school. Your experience will be your best education. Be prepared to lose money your first year.
Playing APS is a smart move. Just be prepared for the huge dips coming. Really reconsider buying back again when everyone is claiming they are buying. They just might need you to buy their shares.
Check out:
http://promobuyer.net/awesome/
Might help you to come up with a game plan.
$$GOFF
Dang, I had this stock a few days ago.
$$FLPC
I like slow and steady.
Keep rising.
$$GOFF
I really don't know what to do with this stock.
Still holding.
$$AXLX
All's quiet with PTAH.
Like planting a seed.
Watch it grow!
$$PTAH
I don't understand. In order to sell, someone has to buy.
Who's buying?
Anyone who knows any history of FBC Holdings would not touch this stock.
$$FBCD
I would think this is a rather disappointing day for most investors of GOFF. Seems to me that majority of the "normal" investors bought a couple pennies above or below today's closing.
The stock graph is flat after mid morning.
Hope we see a 20-45 degree graph line tomorrow.
$$GOFF
Monster pick of the Month.
http://www.awesomepennystocks.com/
Doesn't read Monster pick of the DAY.
$$GOFF
Interesting, no news yet.
It's coming though.
$$GOFF
Train just left the tracks again.
$$SWVI
Bookmark and study this website:
http://promobuyer.net/awesome/
This will help you learn how to play an APS play.
$$GOFF
Sharp increase right now.
Good luck to those who are still in.
$$SWVI
Previous close was 13 cents opened at 20 today.
Hmmm....
Who got the jump on the GOFF play if it weren't the Premium APS Members?
$$GOFF