You don't have to do it on a daily basis. You can do it for a span of 6 months all the way down to a 2 to 3 day hold. It just depends on how nimble you are. I have made moves too early when I thought a reversal (short-term) was coming and the stock kept going up for two more days before it reversed. So I ended up being early. Then other times I think the trend might at least last two or three days and I end up holding a bag. I'm getting a lot better with each trade as i get experience.
But these pennies are the ones I have a harder time judging. I got into CPNLQ thinking it was going to move up, it did go up for one day and then returned. I held it for a month, finally got out before it crashed through its 50 day and took a minor loss.
I haven't traded these long but I already see patterns that they follow similar to any other listed or big board stock. It's just harder to see because of the micro penny charts and indicators are also skewed because the thin trading.
It's fun, though.
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