Greetings All.
I'm a newbie/student to this trading adventure... taking it all in... this is my first post, and now RBTI seems to be iconic of active-trading experience/phenomena.
Beyond the P&D... I like RBTI as a company; DD demonstrates tremendous potentiality for long-term growth. In the short, like others, I got shalaqued initially at .185, averaged down at .085, and then again at .035. Right now I'm averaging at .06... and expect with some patience... the "bad apples" have cleared out... and now folks are tuned into the short and longer-term/upward potential this company (knowing vultures still wait in store... I'm not quite sure what I think about the systemic/overall value of shorting... interested in a synergistic practices where everyone has chance to gain...).
I use Scottrade, with ScottradeElite- which gives me Level II quotes and great/real-time diagnostics. Beyond observing/learning (company fundamentals, find particular use in MACD, RSI, Ultimate Oscillator, volume)- I'm doing some "actual" trading with funds within my 401K (very meager, because I've been self-employed, and as you might deduce from my alias, I'm a "fatherofseven").
Inviting feedback here, but my emerging strategy/what I've learned thus far:
(1) Only stocks that have a solid business plan/product, minimal market cap, etc. (may be more than day/swing... but investing);
(2) For short-term gain, go for stocks POST P&D... get in at bottom;
(3) Volitile;
(4) High volume;
(5) WAIT for confirmed, upward momentum;
(6) Wait at least 30 minutes at beginning of session- invariably after initial enthusiasm/spike, they drop down... and/or prove to be going further south;
(7) Patience... recognizing your low can always go further south, but in supply/demand... if you hit near the bottom there are far fewer folks who can sell for gain... it will rise again...;
(8) Diversify... measuring risk... enabling cost-averaging down, and/or shared risk across securities. Any practical ideas on this?
(9) Earlier "dupes" -- I took some big losses, and they've become "ghost ships"... nothing worse than inactive money with little indication of rising... no volume... better to sell and get the money on a train that's moving....
QUESTIONS:
1) How might I find support/resistance levels? (I understand the concept... but is it quantifiable? Is there a diagnostic tool in settings that might provide this?);
2) How can you find out how much people are in for... historically?
3) I've subscribed to a number of "hot stock" (etc.) sites... many of these pumped RBTI. In particular, I appreciate Hypergrowthstock.com - Francis provides daily market videos, free DVD... really makes it professional/personal. Any proven leaders?
Thanks all!
