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Excellent post!
Congrats, Clay for hitting the 6K member mark!
With all of the hard work you do with your technical analysis, videos, chat rooms and such, you earned that following and more.
God bless you man for opening my eyes through various videos. Skill Sharpening is off the freaking charts (no pun intended). I am on Skill Sharpening Candlesticks now and I must say I am blown away by your level of clarity.
I watch each one at least 2 times in a row (and print two copies of each guide) so I can let you hammer the points into my head.
Best to you, brother, and keep up the hard but rewarding work. You are changing lives. Your level of helpfulness and humility is rare in this field.
That would be off-topic. No, thanks.
I meant for your perception that I don't look motivated. I am not motivated to jump into EWSI because it is heading down. The only thing that could possibly make it recover for a temporary spike is if some trading groups come in and run it up fast.
Other than that, gravity is running its course.
I have played EWSI in the past when the Kool-Aide was flowing strong for some losses and some nice gains. Been there, done that.
If you want to blame anyone, blame this guy:
http://investorshub.advfn.com/boards/profilea.aspx?user=89929
He is going around educating people through his videos on how the penny game really works. If it wasn't for him, I would probably still be playing EWSI and losing, hoping that it would recover.
This is a sight to behold on Level 2 and the charts:
Level 2:
Before the push from .0029 to .0032 earlier today, someone had sold 12 shares at .0029. You read that right. Then, there were buys that knocked out the .0032s. Then, we know what happened from there.
The chart:
SMA 200 is heading down (long term trend)
SMA 50 is heading down (medium term trend)
SMA 10 is heading down (short term trend) and sitting right on top of EWSI as resistance since July 15th.
Very sad for those who believed, indeed.
EDIT: VNDM moved up to .0029. This confirms dilution and that this thing is heading south fast. Eleniak, your prediction of trips looks better daily.
VNDM is on the BID at .003 and someone is hitting the .0029s quite a bit. EWSI is going down further. As ClayTrader says, "a diluting company cannot hide from the charts or Level 2".
Duly noted. Thanks Gary. Much appreciated.
So, me being a relatively green trader (starting to factor in more fundamentals instead of just relying on technicals), what would you suggest for me to watch?
The majority of my trades will be in big boards.
I am just watching the markets today and notice that the Dow Jones Industrial Average and the S&P 500 run almost exactly the same (patterns). Does anyone know why they move so strongly together?
Your screen name is appropriate.
Wow! You made my bi-weekly after tax salary in one trade. Impressive.
Member marked. I could learn a thing a two from you.
Nice profit!
In a nutshell, moving would be way more expensive. Today, I start on my journey to self employment. I picked up the remaining Skill Sharpening videos and will immersing myself in learning, paper trading and improving. I have more than enough videos and resources to prepare me.
Oh yes. The company is giving me a pretty nice sev package if I decide that I cannot move. I am excited and ready to soak up knowledge either way.
In my current situation, it's very unlikely I will be able to relocate. The cost of living difference is huge from where I am now to where the new location will be.
I just lost my job today!
Long story short, I got a call today that my position is being relocated in about 2 weeks. However, I am EXCITED! Why? Because I am going to pursue my dream of working for myself and becoming a full time trader and investor if I decide not to relocate with the company. I have talked about working for myself for a long time and now the opportunity may have come for me to do so. I know easy isn't an option but if it is going to be hard, then I will do it hard.
I am not going to lie and say that the call wasn't shocking but there was a strange calm as I was being told about that changes....like life was speaking to me and saying "This is your opportunity! I handed you lemons. Get some sugar and water, squeeze the juice out of those lemons, get some cups and go sell it!"
So, what is one to do who will soon be on the unemployment line? What should I do??
Option #1: I will go to the nearest bar, drink until I can't see straight and come home to my wife a hot mess.
Option #2: I could double-down on my investing / trading education, pick up the remaining 3 videos from ClayTrader's Robotic Trading Skill Sharpening course, make YouTube my b*tch and watch various educational videos to fill in any gaps, stay in StockCharts' Chart School until I get a Ph.D , study, practice, improve, repeat and just be an active sponge for knowledge until investing and trading become second nature.
Option #2 sounds like it will be the best choice.
This is a win-win situation for me either way I decide. On one hand, I get to keep my job and relocate to another state (I won't be able to trade if I work in the new office). On the other hand, I will begin working for myself and changing the destiny of my family for generations to come. I can envision the day I get so good at trading, I can trade from a my hotel suite while on vacation if I choose to.
Don't cry for me! Get excited and stay motivated because I, sure as hell, am motivated to take life on, take this opportunity by the collar and squeeze it until it gives up my dream of working for myself and enjoying life boss-free.
Sponge time!
I just lost my job today!
Long story short, I got a call today that my position is being relocated in about 2 weeks. However, I am EXCITED! Why? Because I am going to pursue my dream of working for myself and becoming a full time trader and investor if I decide not to relocate with the company. I have talked about working for myself for a long time and now the opportunity may have come for me to do so. I know easy isn't an option but if it is going to be hard, then I will do it hard.
I am not going to lie and say that the call wasn't shocking but there was a strange calm as I was being told about that changes....like life was speaking to me and saying "This is your opportunity! I handed you lemons. Get some sugar and water, squeeze the juice out of those lemons, get some cups and go sell it!"
So, what is one to do who will soon be on the unemployment line? What should I do??
Option #1: I will go to the nearest bar, drink until I can't see straight and come home to my wife a hot mess.
Option #2: I could double-down on my investing / trading education, pick up the remaining 3 videos from ClayTrader's Robotic Trading Skill Sharpening course, make YouTube my b*tch and watch various educational videos to fill in any gaps, stay in StockCharts' Chart School until I get a Ph.D , study, practice, improve, repeat and just be an active sponge for knowledge until investing and trading become second nature.
Option #2 sounds like it will be the best choice.
This is a win-win situation for me either way I decide. On one hand, I get to keep my job and relocate to another state (I won't be able to trade if I work in the new office). On the other hand, I will begin working for myself and changing the destiny of my family for generations to come. I can envision the day I get so good at trading, I can trade from a my hotel suite while on vacation if I choose to.
Don't cry for me! Get excited and stay motivated because I, sure as hell, am motivated to take life on, take this opportunity by the collar and squeeze it until it gives up my dream of working for myself and enjoying life boss-free.
Sponge time!
...had this first-hand experience today with $ISR. Kept the loss to less than 5% as the chart and level 2 showed it wasn't going my way. It's better to live and fight another day.
A few lessons learned today but they didn't cost me my whole account like they did in the past. I paid a little under 5% for today's lesson. Still up overall.
I like these posts - Gapper & Tanker picks. Good job!
Great redesign of the website, Clay. Best of luck to you.
When opportunity calls, most people don't answer because Caller ID says 'Hard Work'. -The Motivated Trader
Great board. Marked!
AMM is a stock trading werewolf. He told me he sunk his teeth into you and now you are a beast. Good job on Twitter.
Challenge accepted, sir.
AMM, what did you do to Starbuxsucks? That guy is a beast with his investing / trading. How can I enroll?
Awesome, Starbux. Do you trade full time?
Sorry, but I don't recall.
While the whole statement below is true, the words in bold should be written in one's mind with permanent ink.
Having stops in place - mental or preferably, ones set when you enter a stock - is a necessity. The lesson of not using them can be a costly one. I have a draw full of receipts from the tuition I paid.
Marilyn, at least you had a stop so all of your invested funds wouldn't be evaporated. I applaud you for this.
Don't give up.
You can't save 'em all!
I had a conversation today with a buddy that I hadn't spoken to in a while. He was telling me that he invested in an OTC penny stock with real products. He started naming all of the reasons he purchased shares (real products, fundamentals, etc). He said he is holding on to see if his stock will go up to 25 cents a share from one penny where he recently purchased it. The stock is a little over a penny but still not at 2 cents per share.
I politely told him that I have lost thousands of dollars believing in these penny companies in the past and that, for the most part, penny stock companies are generally garbage with the rare occasion that one is actually the real deal. I explained to him that spending that much time researching penny stocks may be better used by doing a few things; scanning for stocks, watching price and volume movement as well as learning technical analysis and locating Kool-Aide catalysts that may make it run i.e pumps/rumors/PRs.
I immediately advised him to pick up ClayTrader's "Penny Stock Survival Guide" course as he was downing the Kool-Aide of this penny stock in big gulps. I am sad to see my buddy appear to pretty much repeating what I did in spite of fair warning about the land of penny stocks. However, in my own case, I didn't know and had no one to help me out when I first started. While it is possible he may not lose his investment and actually make a decent gain, it's not probable because my buddy didn't know about the following:
* What Level 2 is and how to use it (he was only using Level 1).
* Having a stop loss in place on his order to minimize damage from the stock going against him (he knows what stop losses are but doesn't have one in place on this trade).
* Penny stocks are generally garbage and there is a reason they are so volatile (his stock was listed on the OTC Markets at 1 cent).
* Not knowing that the stock will more than likely move on Kool-Aide catalysts (and eventually drop back down) more than fundamentals (products, filings, etc).
* Believing that the lowest a stock can go is .01. He was shocked when I explained that it can go as low as .0001. The truth of the matter is that it can eventually go to 0 if the ticker is shut down.
In the end, he seemed geared towards wanting to stick it out based on his research, which is fine. If he feels like he knows enough to where he wants to stay in to ride it to 25 cents without a stop loss in place and not taking profits along the way, that's cool with me.
Before we disconnected, I pointed him to various free resources such as StockCharts.com's Chart School and various videos on YouTube that at least can give him more info on investing in Penny Stocks if he didn't want to plunk down $99 for a more organized video series on Penny Stock trading by ClayTrader.
I was THISCLOSE to buying the ClayTrader video for him as a "cautionary" gift but thought better of it as he has to see the value in it himself to make his own investment in his education.
The Bottom Line?! Everyone is not going to take your experience as a cautionary tale. We all have to let people we care about find their own path even if we may know of some of the dangers ahead.
Happy Trading!
You can't save 'em all!
I had a conversation today with a buddy that I hadn't spoken to in a while. He was telling me that he invested in an OTC penny stock with real products. He started naming all of the reasons he purchased shares (real products, fundamentals, etc). He said he is holding on to see if his stock will go up to 25 cents a share from one penny where he recently purchased it. The stock is a little over a penny but still not at 2 cents per share.
I politely told him that I have lost thousands of dollars believing in these penny companies in the past and that, for the most part, penny stock companies are generally garbage with the rare occasion that one is actually the real deal. I explained to him that spending that much time researching penny stocks may be better used by doing a few things; scanning for stocks, watching price and volume movement as well as learning technical analysis and locating Kool-Aide catalysts that may make it run i.e pumps/rumors/PRs.
I immediately advised him to pick up ClayTrader's "Penny Stock Survival Guide" course as he was downing the Kool-Aide of this penny stock in big gulps. I am sad to see my buddy appear to pretty much repeating what I did in spite of fair warning about the land of penny stocks. However, in my own case, I didn't know and had no one to help me out when I first started. While it is possible he may not lose his investment and actually make a decent gain, it's not probable because my buddy didn't know about the following:
* What Level 2 is and how to use it (he was only using Level 1).
* Having a stop loss in place on his order to minimize damage from the stock going against him (he knows what stop losses are but doesn't have one in place on this trade).
* Penny stocks are generally garbage and there is a reason they are so volatile (his stock was listed on the OTC Markets at 1 cent).
* Not knowing that the stock will more than likely move on Kool-Aide catalysts (and eventually drop back down) more than fundamentals (products, filings, etc).
* Believing that the lowest a stock can go is .01. He was shocked when I explained that it can go as low as .0001. The truth of the matter is that it can eventually go to 0 if the ticker is shut down.
In the end, he seemed geared towards wanting to stick it out based on his research, which is fine. If he feels like he knows enough to where he wants to stay in to ride it to 25 cents without a stop loss in place and not taking profits along the way, that's cool with me.
Before we disconnected, I pointed him to various free resources such as StockCharts.com's Chart School and various videos on YouTube that at least can give him more info on investing in Penny Stocks if he didn't want to plunk down $99 for a more organized video series on Penny Stock trading by ClayTrader.
I was THISCLOSE to buying the ClayTrader video for him as a "cautionary" gift but thought better of it as he has to see the value in it himself to make his own investment in his education.
The Bottom Line?! Everyone is not going to take your experience as a cautionary tale. We all have to let people we care about find their own path even if we may know of some of the dangers ahead.
Happy Trading!
Eleniak, can you further expand on this? Am I understanding correctly that EWSI management issues shares to themselves and lenders or other interested parties at huge discounts i.e. .00005 a share and then can turn right around and sell those same shares at a later date for .005X or whatever the current price is?
If I am understanding this correctly, that appears to be one heck of a massive loophole that continually attracts fraudsters to list on the OTC, no?
Read post #295309 (7/26/14) a few posts back and watch ClayTrader explain why there is a delay in the release of penny picks.
His explanation seems spot on to me.
I like how you are posting around on various boards to educate folks on trading. You have earned a follow from me. Keep up the great work.
Thanks!
Thanks, CT. Thoroughly enjoyed this video. It's right on time as I begin paper trading next week for a minimum of a month and will include penny stocks in my paper trading.
Keep up the great work, brother.