My Trading Rules:
These rules are strictly for me. Keep in mind I have to be in all cash before close every day so the days of holding o/n are over for me for now! Once I get my account to $25K I'll switch to a traditional broker so I can hold o/n again. Until then putting keystroke to internet (as opposed to pen to paper!). I'm putting my 4 simple pennystocking rules in writing. 4 rules that had I followed would have avoided trading mistakes like the 3 I had the last couple days with GVDI, GHBAW, & PHIG.
1) Only play stocks with plenty of liquidity so I can get in and out quickly.
2) Stay away from plays with a wide bid/ask spread (only exception is if volume is heavy).
3) No chasing! Only exception is a very high volume ultra fast mover like EXBX a couple weeks ago.
4) Set a quota. Say $500/ a day. I would have called it a day today after SSPTD which was a nice $550 profit in minutes. Instead I blew all my gains and another $600 on top of that with GHBAW & PHIG.
Bottom line is clear. These simple rules should save me a lot of $$$$$. Now I need to make sure I stick to them all the time!
Lastly regarding my new broker. If anyone has any questions. Mark Baratto, the Director is very professional and courteous and will be happy to assist.
Please tell him I sent you if don't mind. Just give him my e-mail: vtcpa04@yahoo.com.
Mark Baratto
Director
50 Broad St | 16th Floor
New York, New York 10004
877.484.6614 ext. 1| f: 646.356.6907
SKYPE: thetradersroom
Broad Street Securities Group, LLC
www.BSSGtrading.com
www.TheTradersRoom.com
