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Lil....you forgot to add the urinals and porta-potties. Hell, even Depends...ya never know when your butt is gonna be stuck to the computer chair. And if you are really lucky, you can hire a cook, maid, chauffeur and nanny. And if the newbies want some good laughs, there was a thread called "CONFESSIONS OF A DAYTRADER". I'll see if I can't dig that one up. Cheers and good luck to us all!! Robin
Posts: 455 | Registered: Feb 2004
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Wasn't it Clyde Crashcup who suggested we just strap used Walmart bags on the kiddos to save on diapers???? Wonder how he's doing these days...hopefully great! Posts: 3727 | Registered: Jul 2004
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Lil, Good Info have a related question finding a stock with all the pennies out there is there a site that lists all under .01 or a way to filter to display only those under .01. That would help me cut down the amount to pick through to look at. Also do you have a trigger other that volunme to look at a particular stock. Ive found a few runners but usually after the most growth has already happened.
p.s. pay no attention to stars, am a complete novice and some joker thought it would be funny to give an old swabbie five stars. (note: only one vote)
"Once you get saltwater in your veins, ya can't get it out"
-------------------- CG-48 "Victory is our tradition" Posts: 233 | From: Gautier, MS | Registered: Feb 2006
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Thank you Lil and all who helped. An Excellent source of information for those of us trying to get up to speed. Thank for taking the time.
Posts: 17 | From: Dekalb IL | Registered: Feb 2006
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quote:Originally posted by Magic: Lil I've been hear for over a year But am still a Newbie...How do you know which way a stock will go the Bid/Ask Size looks like this.
B/A Size: 5000 X 5000
I see a few interesting stocks like MMAM and SEVI with this bid and ask size. Please help.
posted
Lil, thank you for putting that together. I wish I had read it a couple of months ago because I made many of the mistakes written in those fine pieces of writting. I've learned by jumping in and sinking and now dogpaddling a little.
One important thing I've learned is to find expirenced traders like yourself, Jelly, BuyTex and a few others and to look for your posts. I'm not saying that I do it to play what you or anyone else is playing but I end up gleaning a lot of information.
Because of BuyTex's help I now have an inkling of how to spot and avoid group plays. The nice thing is I got out cheap. I spend anywhere from 6-10 hours a day researching stocks I'm interested in, reading news and of course schooling myself in chart school and reading message boards. I read more than one to gain a bit of a perspective. Some boards are pure pumps and others just bash. It's very similar to what I learned in Poly Sci classes: " Don't rely on one news source read many". There are people out there that have agendas and if you are not careful their agenda can affect your bank book.
I appreciate all the individuals that try to help us newbies. I have bookmark this thread so I can comeback on a daily basis.
Thanks once again. Thers's a new radio program called subpenny radio that I have found very helpful. It only deals with stocks under a dollar and is on every market day.
subpennyradio.com
Give it try or not. It's up to the individual. It's a non sponsored sometimes hokey show.
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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Hello, I have purchased PAIM stock, They have announced (for every 1 share they will pay 1000 preferred stock) so I will have a lot of preferred stock at a small worth, But my question is. can I trade the preferred stock on the open market or do i have to hold it?
Posts: 19 | From: NY | Registered: Mar 2006
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WoW! Seeing as I have come here to learn about investing, to take the info from the wise about what to do and not to do. Thanx penny, Imma print this out and read over and over.....and over and over. I gotta learn as much as I can get my hands on around here.
Posts: 14 | Registered: May 2006
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wow, do I have a lot to learn, seems a bit more complicated, but hell what else do i have to do besides dodge bullets and beat the heat here in the sand. I know you sent some links, do you have any hardbook reads? Either way thanks for the help, love the self inspirational must read for the next 30 days! "HELL NO I WILL NOT BE A WHINY *****!"
Posts: 317 | From: Iraq | Registered: May 2006
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quote:Originally posted by ArmySGT: wow, do I have a lot to learn, seems a bit more complicated, but hell what else do i have to do besides dodge bullets and beat the heat here in the sand. I know you sent some links, do you have any hardbook reads? Either way thanks for the help, love the self inspirational must read for the next 30 days! "HELL NO I WILL NOT BE A WHINY *****!"
Here you go Sarge...
Machiavelli Member
Member Rated: posted 17-05-2006 13:59 -------------------------------------------------------------------------------- Read these books:
A Beginner's Guide to Short Term Trading by Toni Turner www.toniturner.com
posted
Wanted to bring this to the Top (or would it be bottom?)...for the Newbies...
quote:Originally posted by lilpennypincher: I have gotten some PM's from some great new newbies.....(you know who you are)....Asking lots of questions. I will continue to help as much as I can but, wanted to post this to get out some info. Posting it here as this seems to be where they are looking.
This is going to be very long but the best read you'll find on this board!
These are Post's on how to make money in this market by three of the greatest people I have had the pleasure of trading with!
Learn ALL(LOL) of the tips and you'll do fine. And.........Yes, I do make money.
Make money and sell....If it goes up more, Good for the other guy holding it, You've made money. MOVE ON!
First great info from Ric...(((HUGS)))
I updated my dd for all so here it is. I am writing a more detailed things you need to know section and will post when I finish.
Things you need to know
Best two pieces of advice for pennies. 1) Don't let people convince you that a penny is a long hold. You will get burnt. Buy low, sell high, and never look back. 2) Due Diligence.
There is two ways to lose money in the penny market that a lot refuse to listen to.
1) Never hold a penny stock after a run. Sell it and if it does run again you can still buy it back but 90% of the time it will fall back to where it was and sometimes lower. Penny's are manipulated on too many levels and holding long will only lose you money and give you a ulcer. Take profits and walk away. If anyone tells you to hold a penny long they are holding that stock at a lose.
2) Don't play group plays and if you can't help yourself take profit as quickly as possible. When the group leaves the stock will drop faster then you can leave.
Worry about a stock that people refuse to hear negative comment on. They are hiding valuable information from you. You can't make a honest choice without all the facts. And all penny's have bad news or they wouldn't be here. If a stock is being pumped to hard then there is a reason for that. Its losing them money.
There is some excitement in runs too that may conflict with what I just said but it's still risky. Because of the manipulation in this market either through groups, boards, MM's or the company a uptrend can turn on you quickly. Find your risk level and move on when it is met. Never look back on profit and wonder if I stayed longer that I could have made more because the next one will burn you if you don't obey your own rules. If you really think it can move further, sell enough to get your money back and ride the rest. A whole lot less risk.
Two things that you must learn about charts immediately is RSI and Bollinger Bands. They are so important. Now there is so much you can learn in charts that will help you make choices but I consider the above the most important things to learn for any investors. RSI will let you know if there is buying pressure or selling pressure. It will also confirm a run. Bollinger Bands also show price pressures and are used to support other indicators. There are links below under TA for education on understanding charts.
Relative Strength Index
Definition:
Relative Strength Index (RSI), an oscillator introduced by J. Welles Wilder, Jr., could be more appropriately called the internal strength index, for it compares the price of a security relative to itself. The RSI is based upon the difference between the average of the closing price on up days vs. the average closing price on the down days over a given period, and is plotted on a vertical scale of 0 to 100. An oscillator refers to a momentum or rate-of-change indicator that is usually valued from -1 to +1 or 0% to %100.
Wilder advocated a 14-day RSI, although shorter and longer periods have gained popularity when the market exhibits certain characteristics. Generally, RSI is measured in a period between 5 and 25.
Interpretation:
There are several possible interpretations for the Relative Strength Index, any of which can be very powerful depending on the market conditions and trading/investment approach: One interpretation is that buy signals are triggered when RSI is in oversold (20-30) area, potentially meaning that the stock is about to reach its low for this trend, and sell signals are triggered when RSI is in overbought (70-80) area, potentially signaling a market top.
A second mode of interpretation is to look for support and resistance lines or common chart formations such as head and shoulders in the RSI itself, indicating potential reversals that the stock chart may not.
A third mode of interpretation is to recognize divergences in the RSI, such as when the price is moving up when the RSI is moving down or vice versa. This can mean that the price is going to "correct" and move in the direction of the RSI.
A fourth mode of interpretation for the RSI is to view it as a bullish or bearish signal when it crosses 50. When the RSI crosses above 50 it can be considered bullish, and when it crosses below 50 it can be considered bearish.
Bollinger Bands
Definition:
Investors use trading bands, lines drawn above and below the moving average, to isolate a range of prices for a given security, based on the concept that a stock generally trades within a predictable range on either side of the moving average. When a stock is near the upper or lower limits of the trading bands is when an investor should pay closest attention, according to conventional wisdom.
Bollinger Bands are considered some of the most useful bands in technical analysis, for they vary in distance from the moving average of a security's price based on the security's volatility. During periods of increased fluctuation, the bands widen to take this into account, and when the fluctuation decreases, the bands are tapered for a narrower focus to the price range. The upper band is the standard deviation multiplied by a given factor above the simple moving average, and the lower band is the standard deviation multiplied by the same given factor below the simple moving average.
Interpretation:
The standard interpretation is that Bollinger Bands do not give absolute buy and sell signals, but instead indicate whether the price is relatively high or low, allowing for more informed confirmation with other technical indicators.
Bollinger Bands are typically drawn two standard deviations from a twenty day simple moving average for intermediate-term analysis, ten day for short term with 1.5 standard deviations, and fifty for long-term studies with 2.5 standard deviations. According to John Bollinger, for the most accurate average "choose one that provides support to the correction of the first move up off a bottom. If the average is penetrated by the correction, then the average is too short. If, in turn, the correction falls short of the average, then the average is too long. An average that is correctly chosen will provide support far more often than it is broken."
Mr. Bollinger also contends that:
Sharp moves tend to occur after the bands tighten to the average, when a stock is less volatile. The greater the period of less volatility, the higher the propensity for a price breakout.
When the price hits the upper or lower bands, it is suggested to confirm with other indicators whether that price movement shows strength or weakness, respectively, which could indicate a continuation. If indicators do not confirm this movement, it can suggest a reversal.
Tops or bottoms made outside the bands, followed by the same inside the bands, indicate a trend reversal.
A move originating at one band tends to go to the other band.
"Resource from IQCharts"
DD for otcbb and pinksheets
Try these two DD tools to be quick and good with your facts. At pinksheets in a matter of seconds under Company Info I can give you o/s, any r/s, company name changes, or planned changes and more. Quotetracker is a program you install on your computer. I wouldn't survive without it in a quick paced market. Tons of TA and FA with dd. Shoot pinksheets is my homepage on Firefox browser for quick reference. This is the first two places I go for fast due diligence.
www.pinksheets.com {Company Info tab is loaded with information} {SEC Filing Tab - wow} {News Tab - Pr's at your finger tips}
www.quotetracker.com - after you set it up add a symbol quickly then charts, news, research, and raw data at your finger tips. Great charts.
DD is mainly knowing where to go.
FA Fundamental Analysis
www.pinksheets.com - first place to look!!!! Go to Company info for o/s. r/s, name changes, and many other facts. Go to SEC tab to look for filings. News tabs for latest news that may not show up through normal wire service.
www2.barchart.com - after you enter stock symbol select opinion to see trend spotter
www.otcbbtrader.com otcbb loser/winner by volume, price, shares, transaction, and more
Timing your entry and exit from the market is critical to making money and controlling losses.
These are MM signals. 100 > I need shares 200 > I need shares badly but dont take it down to get them. 300 > Take the price down to get shares.... 400 > Trade it sideways based on Supply and Demand 500 > Gap one way or the other, usually to the direction of the 500 trade. Sometimes -if in the middle -keep the price right where it is.
Pennies are all about volatility and trends. The only reason to look at a 6 month chart or longer is to see the overall trend of the stock. Is it going up, down, or staying the same with little bumps in the road. Look for peaks and valleys and do they happen on a regular basis. If so then look for a bottom and buy then sell at the top and wait for the next valley.
Never let people tell you after a run that it will run again. That rarely happens. Usually after a run it slowly drops back down. Never average down. Sell and buy back at bottom. Holding until bottom never makes you money, it only makes your loses harder to bare.
Longs in a penny stock want you in so they give you the pretty picture. They hope they can get enough new investors to make their stock move and it won't until the stock is ready. Learn to follow trends and how to find the bottom plays. Usually if a stock has more then a couple pages then the stocks has already done something and hope is what keeps the thread going of it moving again.
Be smart, think, learn, and research.
Next our wonderful and lovely Queen of daytrading...Diana! I miss you girl!!!!!and Hello Sunny, If you are still reading!
Realityinc21.
IT'S CONTROLED BY THE PSYCHOLOGICAL TRAPPINGS OF THE MARKET.
Stage 1 - Accumulation. Stock is quiet, trading sideways and without a lot of volatility. Most everyone ignores the stock because it has no sizzle. Insiders hold large blocks of stock and quietly gear up for the distribution. Stage 2 - Breakout. Volume jumps up, psychological barriers are broken. Insiders begin to tell their friends of upcoming significant fundamental change. Pros take notice and buy the stock on the coat tails of the well informed. The public ignores it because they have not read about the company in the paper yet. It must be a scam. Stage 3 - Uptrend. As a larger audience learns of the company and its promise, more buying comes in to the stock and it begins to climb. Pros begin to sell, but slowly. Average investor begins to buy. Stage 4 - Pullback. The stock has gone up too fast, and some profit taking arrives. The jumpy investor who got the entry timing right but lacks confidence in his or her decision sells the stock with a small profit, and smiles in the mirror. The Pro holds on, Average Investor looks through the newspaper to find justification for ownership of the shares. Stage 5 - Resumption of the Uptrend. The pull back is short lived, and the stock bounces and continues higher. The wannabe regrets the sell, but provides self counsel on the merit of making a profit, albeit a small one. The Pro might sell a little bit more, but still holds the majority of the original position. The Average Investor is getting excited now, and thinks about what could have been if only he had bought when he first noticed the stock. Stage 6 - Exhaustion of the Uptrend. The media takes notice, and communicates the company's merits to the masses. The masses buy the stock, and it goes up sharply with strong volume. The Pros sell with enthusiasm. The Average Investor owns it now, and is telling everyone who will listen. The wannabe Pro jumps back on, after all, he was smart enough to buy it when the trend started, so he knows the stock well. Will hope make it go higher? Stage 7 - Gravity Works. Pro selling begins to weigh on the uptrend, and the stock fails to go higher despite high volumes. The stock starts to go down instead of up, and the Pro is almost sold out. The Average Investor continues to cheer lead, hoping to rally support. The wannabe ignores what the market is telling him, taking a loss is too painful to consider. The company is featured on the cover of a magazine. Stage 8 - The Second Guess. The stock bounces and starts to go back up. The wannabe Pro averages down while the Average Investor gets back to advising friends of his stock picking acumen. Pros sell their remaining holdings and begin to look for another deal to play, or perhaps start short selling the stock. Stage 9 - Out of Gas. The bounce is a fake out, and the stock moves lower again. The public own this stock, and they have no more power to buy. The Pro are making money on the short sales now, but are despised by the masses. Calls for short selling to be made illegal are made by the Average Investor, after all, the short sellers are the demons causing the sell off. Stage 10 - Dead Cat Bounce. The Average Investor and the wannabe Pro have no pain tolerance left, and finally sell for a big loss. The short selling Pros are the only buyers to take the share off their hands, and provide the needed liquidity. The stock bounces, and some short term traders make a quick profit. The Average Investor either swears to never buy a stock again, or tells lively stories over drinks about the one that could have been. Stage 11 - Post Mortem. Pros have forgot about the stock and are considering carpet samples for their new home in Florida. Average Investor continues to follow the company and buys loads of cheap stock to try and overcome the regrettable loss.
The stock market is mean. You can be a good analyst, but if you can't overcome the psychological traps of trading, you will do what the crowd does. To be successful, you have be one step ahead of the crowd, and trade with unemotional discipline. There are strategies to take advantage of each stage of the market cycle that can be applied just by looking at a stock chart. They just require a bit of knowledge.
EVERYDAY FOR THE 30 DAYS READ THIS 10 TIMES A DAY. ASK YOURSELF 10 TIMES A DAY "WHAT KIND OF TRADER AM I GOING TO BE??" AM I GOING TO BE A CRYING WHINNING LITTLE ***** OR AM I GOING TO SHAKE IT OFF?? AM I GOING TO BUY TO HIGH BECAUSE I DO NOT KNOW HOW TO READ A CHART OR AM I GOING TO F-ING LEARN HOW TO READ A CHART?? AM I GOING TO BE THE ENTERTAINMENT FOR THIS BOARD OR AM I GOING TO GO THE LIBRARY AND CHECK OUT ALL THE BOOKS THAT I CAN READ ON DAY TRADING AND INVESTING AND STOCK CHARTING. AM I GOING TO LEARN HOW TO DO MY OWN DUE DILLIGENCE OR AM I GOING TO BUY ON THE RECOMENDATION OF PEOPLE FROM THIS BOARD??(IT IS PRETTY OBVIOUS THAT IS WHAT HAPPENED )THEY WERE GREAT RECOMENDATIONS BUT YOU WERE ABOUT 5 STEPS BEHIND. IT LOOKS LIKE BY THE TIME YOU WERE BUYING EVERYONE ELSE WAS SELLING. AM I GOING TO TAKE THIS LAYING DOWN OR AM I GOING TO GET MY G--D D--M MONEY BACK. NO ONE HERE CAN MAKE THOSE CHOICES FOR YOU!! MAY SEEM LIKE I AM BEING A COLD HEARTED ***** BUT THIS THE REAL WORLD BABY. THE QUESTION YOU HAVE TO ADDRESS RIGHT THIS MINUTE IS..AM I GOING LEARN ON THE FLY OR AM I GOING TO BACK IT UP AND LEARN ABOUT WHAT THE F--K I AM DOING?? YOU DOVE IN HEAD FIRST NOW YOU HAVE TO LEARN HOW TO SWIM. IF YOU ARE NOT WILLING TO LEARN HOW TO SWIM--BAIL AND TAKE YOUR LOSS. DAY TRADING IS TIME CONSUMING. I WOULD VENTURE TO SAY THAT MOST OF THE PEOPLE ON THIS BOARD SPEND 5 TO 10 HOURS A DAY RESEARCHING-CHARTING-READING SEC FILINGS-GOING OVER FINANCIALS--READING NEWS RELEASES--COMMUNICATING WITH OTHER TRADERS ON STRATAGIES--THEN FINALLY BUYING--THEN THE SAME PROCESS BEGINS FOR THE EXIT. IT MAY NOT SEEM LIKE IT RIGHT NOW BUT I AM TRYING TO HELP YOU. AS WILL OTHERS ON THE BOARD. SUGAR COATING THE FACTS WILL NOT HELP YOU. YOU NEED A GOOD DOSE OF REALITY AND I JUST GAVE IT TO YOU!! IE REALITY INCORPORATED.... THE ONLY CONSOLATION THAT I CAN GIVE YOU IS: I HAVE BEEN IN YOUR SHOES. AFTER OVER 20 YEARS OF DEALING WITH THE MARKET I STILL WAS NOT PREPARED FOR THE DEPTH OF DAY TRADING. I LEARN NEW THINGS EVERYDAY AND MAKE MISTAKES EVERYDAY. AFTER 4 YEARS OF MAKING AT LEAST 5 TRADES A DAY I AM A NEWBIE JUST LIKE YOU. IT IS A PROCESS. WELCOME TO DAY TRADING AND GOOD LUCK WITH YOUR CHOICES.
REALITY INCORPORATED
ESTABLISH A SET OF TRADING RULES THAT WORK FOR YOU. THESE ARE MY RULES. YOU HAVE A ADAPT YOUR OWN. MAYBE THIS WILL GIVE YOU SOME GUIDELINES TO GO BY.
MY PENNY STOCK RULES:
1. I never buy on impulse or get emotionally attached to a penny stock--think LOGIC--I buy it, I sell it, I make money and I rarely look back. 2. I never buy a stock JUST because I like it or worse someone else likes it. 3. I rarely buy a micro penny stock trading under a volume of 50,000 mil--80 to 100 mil is better (always remember there has to be buyer for every stock you buy).. 4. I rarely hold a micro penny stock over night...My definition of micro penny is under .10 cents ..Rarely over a weekend..NOTICE I SAID RARELY. THERE ARE SOME STOCKS THAT HAVE A BUILD UP AND IF THE VOLUME IS GOOD AND I FEEL CONFIDENT ABOUT MY DD I WILL HOLD IT FOR THE RUN. At $7.00 to $10.00 a trade I can buy and sell it every day on news or hype or earning whatever. .(THAT'S WHY IT'S CALLED DAYTRADING) 5. I never buy a penny stock on the way up. IE CHASING I watch the pre market trading and set a buy price and a sell price and stick to it (missed out on NEOM by sticking to my rules--I noticed it at .11 and refused to buy to high) UPSIDE IS I DO NOT HOLD 500,000 SHARES OF NEOM AT.43 CENTS---DOWNSIDE I DID NOT MAKE 50,000 DOLLARS. I DID MAKE A COUPLE OF GRAND BY PLAYING THE GAP AFTER THE RUN. IF YOU MISS THE RUN PLAY THE GAP. LIKE THE MAN SAID--THERE IS ANOTHER STOCK JUST WAITING TO BE BOUGHT. 6. I never think about GETTING RICH OR RETIRING on penny stocks..My goal is to make $200.00 a day and not lose my original investment. Most often I exceed my goal. (When I lose money it is usually because I have not followed my own rules) 7. I never ride a stock down--I will sell it and re-buy it. EXAMPLE: BOUGHT CTKH AT .002 AND .0022. SOLD HALF AT .0046. SOLD HALF OF THAT HALF AT .0069. IT STARTED GOING DOWN AND I BAILED OUT AT .006. BOUGHT AGAIN TODAY AT .0032. LOGIC-DO YOU ACTUALLY BELIEVE MUTUAL FUND MANAGERS WOULD HAVE HELD ONTO IBM IF IT DROPPED 50%?????--(WELL SOME WOULD) LOL I THINK NOT..RIDING A STOCK DOWN IS LIKE THROWING 50% OF YOUR MONEY OUT OF A CAR WINDOW AT 75 MILES AN HOUR AND HOPING IT FLIES BACK TO YOU. OR BETTER YET "IF YOU LOVE IT LET IT GO--IF IT LOVES YOU IT WILL COME BACK TO YOU". THATS BULL****--IF IT LOVED YOU IN THE FIRST PLACE IT NEVER WOULD HAVE LEFT.....I have actually bought and sold the same stock 3 times in one day. ATNG WAS A RECENT 3 TIME BUY AND SELL. BOUGHT AND SOLD IBZT 3 TIMES ONE DAY. (not usually but it does happen). 8. I never insult or bash another fellow trader..I respect other people's trading methods. I LEARN FROM THEM. What the hell--It's not my money.....( It's not like they are setting on third base at a black jack table and take a hit on 15 and the dealer has a 6 showing and I have $500.00 dollars riding on that hand). I DO LISTEN AND LEARN AND BENIFIT FROM THEM. 9. I never trade with MONEY that I am not willing to lose. 10. I follow the market and market trends (not just the stocks) 11. I never buy a stock without reviewing, analyzing and understanding the charts. I learned how to read charts and believe in them...They do not lie..I MAY NOT KNOW WHAT THEY MAKE OR PRODUCE OR SELL WHEN I BUY IT BUT I DO REVIEW THE CHARTS ON THE FLY AND PUT IN A BUY ORDER FOR SMALL AMOUNT TO GET IN THE DOOR. MOST TRADERS KNOW WHEN A RUN IS COMING AND HAVE ALREADY DONE THE DUE. 12. I never get gambling and investing confused. I INVEST IN REAL ESTATE...MY BUSINESS...SMALL,MEDIUM AND LARGE CAP STOCKS WITH A HISTORY-MANAGEMENT TEAM-FINANCIALS--ASSETS--CASH--ETC..30YEARS+ GROWTH AND INCOME MUTUAL FUNDS WITH 12% OVERALL GAIN IN GOOD AND BAD TIMES (THEY ARE PROFESSIONALS AND THAT IS THEIR JOB). I GAMBLE WITH PENNIES.. MY DEFINITION OF PENNIES IS ANYTHING UNDER $5.00. 13. I always take 50% of earning from each week and e-transfer into INTEREST BEARING TAX account. THEN I LEARNED HOW TO INVEST THAT MONEY IN REAL ESTATE TO MINIMIZE TAXES. INCORPORATE, PROTECT AND SHELTER. 14. I ALWAYS TAKE MY ORIGINAL INVESTMENT OUT OF THE EQUATION WHEN IT IS FEASIBLE TO MAKE ENOUGH MONEY ON THE TRADE TO MAKE IT WORTHWHILE .IE..WHEN THE STOCK IS ON A RUN UP SELL PORTIONS AT AT TIME TO RECOUP ORIGINAL INVESTMENT. IF IT IS A STOCK I PLAN TO KEEP LIKE TFSM--I BOUGHT AT 1.06. AT 2.12 I WILL SELL HALF AND RECOUP INVESTMENT AND KEEP 5000 SHARES FOR FREE. HOPEFULLY THAT WILL BE THIS WEEK. 15. I ALWAYS HAVE FUN......ACTUALLY I HAVE A BLAST.... 16. I LEARN SOMETHING NEW EVERYDAY... 17. I CAN'T SPELL, TYPE WELL OR USE PROPER GRAMMAR--AND I SWEAR LIKE A SAILOR..BUT IF YOU PUT A DOLLAR SIGN IN FRONT OF IT---I WILL FIGURE IT OUT.......THAT CERTAINLY DOES NOT MAKE ME STUPID..IT MAKES ME SMART BY RECOGNIZING MY LIMITATIONS. LEARN YOURS. 18. I ALWAYS MAKE MY OWN DECISIONS AND TAKE ALL RESPONSIBILITY FOR MY ACTIONS. 19. I LAUGH EVERYDAY..MOSTLY AT MYSELF AND SOMETIMES AT OTHERS... 20. LAST AND MOST IMPORTANT--THE MARKET HAS A RHYTHM--EACH STOCK HAS A RHYTHM--LIKE GREAT SEX--A RHYTHM..FIGURE OUT YOUR OWN RHYTHM WITH THE MARKET AND DUE YOUR OWN D.D.. LEARN THE RYTHEM OF THE CHARTS. IT IS CALLED "HARD WORK". THE REST WILL FOLLOW. TAKE THE TIME TO PASS ON YOUR GOOD FORTUNE TO OTHERS. WHAT GOES AROUND COMES AROUND AND YOU CAN TAKE THAT TO THE BANK.
And From dardadog! The master of getting it done FAST! WOOF dog!
There seems to be a large amount of "newer" inexperienced traders here on Allstocks these days. Glad to see so many new, and what appears to be, younger traders out there. I wish I had been smart enough in my late teens and early twenties to invest in my future. I don't consider myself "old" at 43, but when I was that age I considered my future to be next week rather than next decade. On to the point here. Many of the investors here follow my "flyin fast" leads and do in deed make good quick returns on their investments. But I want to bring attention to a very important rule that I'm afraid many may be overlooking. Particularly in the case of "QBID". The rule I am refering to is "Cover Thy Ass". It's fun (and profitable) to latch onto a microcap that takes off like a rocket. But gains on "paper" don't impress the finance officer, and they don't pay off or save for college tuitions. Microcaps are just that for a reason. Something in the companies past has dictated that they are worthless. When they stir, everyone aware becomes excited and begins accumulating shares with the "Beverly Hillbilly's" theme song stuck in their head. Dreamin' and making extravagant shopping lists, walking around with a stupid grin on their face, thinkin' EZ street is the next block up from here. "Danger Will Robinson - Danger"!!!!! Guys.....if it were really this easy, nobody on the planet would work!!! I make this point, and hope many take to heart, because paper gains are just that..."paper". You see how fast the portfolio can increase on one of these wild rides, but believe me, it can shrink faster. The smart investor always, and I mean ALWAYS, keeps this first and foremost in mind. Front And Center. While these microcaps are great to play, a smart investor will always "Play Free". Pick a price at which the stock reaches where you can sell partial holdings and keep a block of shares for free. You then have your initial capital back to re-invest in "new" up and comers, and if the free gem you are riding tanks, you can still get some use out of the shares you own for free. .0001 Certs can be used in place of Charmin next time you are at the grocery store. Chafes a bit, but not as much as it does if your ass is raw from the ol' back door screwin' you just took by having your whole wallet tied up on the dream. I want all to really think about this. More people in the penny game have had this experience become a realization, than have had the "Beverly Hillbilly's" dream come true, I assure you. Just remember, although this seems like a game, the only real game in life belongs to Milton Bradley. Good Luck out there. ------------------ DaDog
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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And if you are really lucky, you can hire a cook, maid, chauffeur and nanny. And if the newbies want some good laughs, there was a thread called "CONFESSIONS OF A DAYTRADER". I'll see if I can't dig that one up.
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