JK21's Record

[jk21]

I know the board has been very quiet the last few weeks or so. I want to try something new. Something very low risk and relatively low reward. but it seems easy and i want to track it for the next month before i go on my trip to see how it works out. september will be a decent month to give it a whirl.

Given that these pinky plays are extremely high risk and we have to deal with dilution, shorts, ceo liars, promoter liars, deep-pocketed sellers, "mm manipulation," etc., etc. I'm about ready to move away from the pinky plays. I'm not saying i'll abandon them, but i think i can make money easier and less stressful in the manner i'm about to describe.

Here's the plan: Buy 5K to 15K shares of stocks that are over .50 and below 5.00 AND that can move anywhere from a dime to about 3.5 cents. The goal is to make only $500 dollars per trade. one thing i've realized over time is that you can't just put in a huge dollar amount and be able to get trades executed for any share/dollar amount i want when i want it. So i go with this low number which will be nearly guaranteed to get executed. in and out, simple. book gains. no trade should last more than a week. absolutely no need.

How many times per week would i need to do this? at least twice, which also seems pretty easy. One reason the number of times per week is so low is that I'll need to let the money settle on the trades before i just keep using it and recycling it. So, this is going to give me rent/mortgage money, plus leisure time. i won't be tied to a screen reading the latest ceo rumors or checking with Ta's to see if the o/s has gone up this week. Sounds like a good, simple plan. Remember K.I.S.S..

of course if the stock is moving nicely, it's not like i'm going to force myself to cash out at $500; i anticipate that many times i'll be able to make more than a nickel or dime. for instance, BCON ran from 1.05 to 2-something if i remember right. not looking for that everytime, but i'm sure sometimes it'll happen. and those will be nice bonuses.

So this is the new idea and I will have to make up some scans to try to find these kinds of plays. The only thing i'm sure will be in the scan is that i'll look for stocks trading above their 200ma and 50ma. everything else, i'll just tweak as i go along.