MATRIX Penny Stocks

[skatchmo]

Turning Down Markets into Up Portfolios.

In bearish markets my overall strategy recently has been to take quick scalp plays, and its worked well for me thus far.

These have been some of my sell criteria to avoid getting stuck in a bad play that may only be compounded by current market conditions.


1. Sell half at first sign of weakness in level 2 above a 5% gain.(I lock in a profit this way, which puts you ahead of the game in these conditions)

2. Hold nothing overnight that doesn't have a very strong last hour. (there are still gappers right now, in stocks with momo, but if your stock loses momo late in the day, you're more likely to open below your close)

3. Break even stop loss put in place once trade is profitable.

4. Sell any stock that false broke and fell back below resistance before I could implement my break even stop loss, at the end of the first day.(again to protect against the gap down.)

5. Any multi-day profitable trades to be stopped out on breaks of previous days lows, breaks below 5DMA, or sold when it feels like an unpenetrable resistance has been met.

Let me know what you guys think. Things like this are not concrete, and are different for every trader, and change as the market changes. Just something that has been working for me as of late.