And good morning to all. New poster!!!!
Yep, that's me!
Thanks to a few posters here, I am off to play the ponies....Oops I meant pennies. Not all or nothing so the risk /reward ratio is better......ha ha!
You all have given me enough suggestions here that I am sure to pick a few winners this week. So far, from within the short time in my trading in SUB .02 I have only noticed one main problem. Fills! Buy or sell, I have noticed that the best thing to do is stand in thier way. Yep, either bid at the offer, or sell in to bid, accepting their spread usually gets you filled but to be on the safe side, it seems to be best to be just off from the best available.
Of course I have just started and do not wish to buck all you seasoned traders...LOLOL. Anyway, first real post here. Been very tired of trading the VSE with only .005 spreads. Seems like plenty of action here. It will keep me occuppied while my JVs chug along day after day...... up .01 down .005 and then, one day it breaks out. Falling asleep right in front of the tickers.
I am anxious to test my Candle reading skills. So far, most of these pennies seem very easy to read.
Just for the record,
WNMI-candle wise seems to be running out of steam short term. Long term, it may very well have a great run. Looking for sub .02 entry. Reduced volume could also signal support but here I am sticking my neck out once again and saying that friday's candle offers us no higher high to go along with the higher low. The trouble with going with that is the open was higher but the close was flat on increased volume. Off the record,on the same day they tapped .0019 they they also tapped .055 but that does not show on many charts but if you were there at the time, you saw it! Hanky Panky, so, what we do see now is that the lower shadow was kept and the upper, squashed. This one will be trading within the lower shadow creating a daily bottom trend in the short term. Hey I could be dead wrong, but I have yet to seer a chart that pulled this that did not retrace. Hey, only just my observations. Good luck, I traded this last week and am always ready to do it again........ :)
DRDF- I hate spinning tops! Thursday's was no different. The friday close Candle stunk! Bearish engulfing with a long lower shadow to boot! Usually spells more consolidation but the one saving factor was that volume was intentionally higher daily. I tried ot buy lower than .0071 but the pickings were slim as the MMs did their usual offer with filled coming in dribs and drabs. Then, the grand finnally, the last few minutes up they ran it to the open of the day before. Hmm...... this one still has a good chance. I like the storyline, as if that really matters, lol. Breaks .0060, we got serious trouble..... JMHO
One more to comment on, some one mentioned
UDCCF- No one responded to my question as to whether these guys are still seeking to be oil tycoons. I like this chart. Big potential but on the other hand, no sure sign of a bottom. How many times have we picked ( guessed ) the bottom to find we did not catch the falling knife at the right time. Well, this one offers no guarantee. Had plenty of trouble getting filled at .003 but still decided to only buy half. I have decided that no matter how good a SUB looks, I am only buying half and then, sitting on my hands to watch and wait. Half gets you a pivot point to buy and average up or down. Half keeps you in the running for a lower entry, half gives you a base on the run. We will see what UDCCF does today. I would sure like to see friday as the beginning of a morning star with confirmation today. Who knows. But again, the good thing is it was a bullish MARUBOZU which fortunately had a very small body.
Well, I could go on and on but I best first wait and see how you guys react to a poster that strictly lives, breathes, and believes by experinece only that candles never lie and you can extract anything neccessary if you hold the keys to reading them far far beyond TA readings by sites like American Bull and Stock TA , etc..... They really only give you then generic reading. Not really much help in picking buy and sell points. Been at this for 8 years studying candles. Coupled with volumes, you can figure the MMs games. Learn how to play and forget what they get away with. Focus on what they still must abide by.
Have a great day. I will be looking later to see if I am just wasting my time posting any TA from my perspective or not.
Found on stockhouse.com as well,
Fourwinns
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