Replies to post #118009 on Plastic2Oil Inc (PTOI)

[Fishin' Canuck]

FWIW, I managed to get back in

Smart move imo

[XenaLives]

In order to get in at the day's low you would have had to have your bid in place at 12:57:28 and be hit by a sale at that exact millisecond.

I will leave it to you to consider the odds of doing that successfully as a novice retail trader.

You need to calculate the risk versus the reward of such a trade.

You also need to study the day trading rules. If your account is under $25,000 and you make too many intraday round trip trades your account could be locked.



07/07/11 12:57:02 3.00 3.00 3.05 2350
07/07/11 12:57:02 3.00 3.00 3.05 1500
07/07/11 12:57:16 3.00 3.00 3.05 447
07/07/11 12:57:21 3.00 2.99 3.05 0
07/07/11 12:57:28 3.00 2.94 3.05 0
07/07/11 12:57:28 2.94 2.94 3.05 2950
07/07/11 12:57:28 2.94 2.94 3.05 1300
07/07/11 12:57:37 2.94 2.94 3.00 0
07/07/11 12:57:40 2.94 2.94 2.98 0
07/07/11 12:57:43 2.94 2.93 2.98 0
07/07/11 12:57:55 2.94 2.94 2.94 0
07/07/11 12:58:13 2.94 2.93 2.95 0
07/07/11 12:58:16 2.94 2.94 2.95 0
07/07/11 12:58:36 2.95 3.00 3.05 500
07/07/11 12:58:40 2.95 2.95 2.95 -125
07/07/11 12:58:55 2.95 2.95 2.95 125
07/07/11 12:59:04 2.95 3.00 3.05 0
07/07/11 13:00:05 3.00 3.00 3.00 375
07/07/11 13:00:20 3.00 3.00 3.00 375
07/07/11 13:00:40 3.00 3.00 3.00 375
07/07/11 13:00:52 3.00 3.00 3.05 675
07/07/11 13:00:55 3.00 3.00 3.00 -300

[XenaLives]

Another problem with such a trade - supposing you traded 5,000 shares (the approximate size of the trade at the low of day), you sold for $3.16 (grabbing the highest possible price of the day) your profit was $1100 if executed perfectly against all odds. If the stock had rebounded by 10% from when you sold (something that is much more probable) you would have lost 500 shares and the future prospects of those shares.

You are also be liable for short term capital gains on your intra day trade.