posted
We all once were newbs but its just a hump we all get over some time with the right help....you need to make good frends and pass ideas back and forth. it will help you become a better trader because u will build confidience and the smarts. I hate seeing new people make money on a play and then lose it because they think they know what to do....basically make a list of rules and follow them like the law....anyone that needs advice or any help may PM me or i rather you add dmxbr9 to yahoo messenger and ill help u out, and we can bounce a few ideas off. This market is brutal, u will need frends to help get u through....
Posts: 375 | From: New Jersey | Registered: Apr 2005
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posted
That's awesome and very kind of you dmxbr9! To ad things...here is a "long list" of links and info for some newbies...
Some simple and Basic questions:
What do these letters mean? DD=due diligence (Research) MM=Market Maker (definition http://www.sec.gov/answers/mktmaker.htm ) EOD=End Of Day EOW=End Of Week HOD=High of Day PPS=Price Per Share O/S=Outstanding Shares POS=Piece of "Poo Poo" IMHO=In My Humble(Honest) Opinion LMAO=laugh My A** off L2's=Level 2's
How is one "flagged" a daytrader? To avoid being flagged a daytrader, you can not sell and trade the same stock more than 3x's in a 5 day period. Buy "XYZ" and sell it the same day=not a day trader. Buy "XYZ" on Monday and sell it on Tuesday=not a daytrader. Buy AND sell "XYZ" more than 3x in a 5 day period= Day trader. You can buy and sell different stocks...just not the same one.
What are "free" shares? Many People will sell a stock once it has "reached" an increase where they can sell to "get back" their original investment and then continue to let the rest of the shares "ride", these are "free shares" (ones that the gain of the pps has "covered") All of these, once sold, would be complete profit.
I love this place ....see ..now you got me emotional .
May the penny gods spray us all with their wit and wisdom and not pee on us . And give us the mother of all mother loads . Posts: 365 | From: redlands | Registered: Mar 2006
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Follow your rules and if you do end up losing, u cant get made...these stocks have no rules...but we have to be disciplined or we will lose all our money!
Posts: 375 | From: New Jersey | Registered: Apr 2005
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posted
Rule #3...take small consistant profits....taking 15-20% on a consistant basis adds up quickly. Believe me. And don't look back...sure you may miss a big run, but in the long run....it is much better to take your money 75-100$ at a time
Posts: 781 | From: NE PA | Registered: Jan 2006
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posted
10of13 where were you a few months ago??????? Awesome info that I've been looking for. Still lost on L2's. I read the XKEM posts from today and now I want to be chart reader. Great work helping out the little ones. Thanks!
Posts: 217 | From: Tuscaloosa, Alabama | Registered: Jun 2006
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quote:Originally posted by CobyCo1: 10of13 where were you a few months ago??????? Awesome info that I've been looking for. Still lost on L2's. I read the XKEM posts from today and now I want to be chart reader. Great work helping out the little ones. Thanks!
A few months ago? Still learning..Today? Still learning...
check the General Investment topics for Newbies...lots of info there..even on L2's...
Best to start reading at the begining of all of those threads...that's where most of the info is..
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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10of13, actually the second page on XKEM is where I started investing. Holding long.
Posts: 217 | From: Tuscaloosa, Alabama | Registered: Jun 2006
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The problem is working a rotating shift. I can't be at my computer and make those split second, gut decisions based on my limited DD. (This is so addictive) I have to hold long in EQBM to try and gain back some of the 80% that I lost when I blinked my eyes. A similar pattern in FGFC, just not nearly as bad.
Posts: 217 | From: Tuscaloosa, Alabama | Registered: Jun 2006
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posted
I should clarify a bit I guess.. In my experience all OTCBB/Pinksheets companies are either horribly ran or all out share selling scams. Everyone trades differently.. I'm the kind of trader who holds trades for less than ten minutes up to a week. But I know a few guys who do scans for all the .0001 companies they can find and buy a million shares and hold for years.. untill one of them pops. Everyone is different and everyone trades differently... But the one thing that must be considered at all times.. is.. these companies are all scams or horribly run.. meaning.. they will fall... at some point they will fall... traders will find the next big thing... Don't hold long.. if it doesn't happen in two months max.. it won't
-------------------- Spend word for word with me and I shall make your wit bankrupt Posts: 977 | Registered: Jun 2006
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posted
Yeah long for me is when I make 30%, or lose 10%..I also agree with Will..don't play against the MM's..they NEVER lose money. Play with them, and you will limit your losses
Posts: 781 | From: NE PA | Registered: Jan 2006
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quote:Originally posted by Relentless Despot: more than a week... give or take a day or two.
The term "long" is misleading and sometimes adding the words "don't ever" can also be mis leading...I think that as a rule of thumb...agreed...do not PLAN on holding the stock "long"...but if the stock is in an over all upward trend...watching it every day...playing for longer time frames...possibly "flipping" as it rises...CAN be a $ making possibility...
Instead of using the wording of never hold a penny long...maybe...using the words "never invest in a penny stock" or "Only "play" a penny stock"
In this case of XKEM...it seems that a month of "holding" will have payed off...
But this would most defintely be IMO...
MY number one rule...PROTECT YOUR CAPITAL!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Originally posted by Relentless Despot: more than a week... give or take a day or two.
The term "long" is misleading and sometimes adding the words "don't ever" can also be mis leading...I think that as a rule of thumb...agreed...do not PLAN on holding the stock "long"...but if the stock is in an over all upward trend...watching it every day...playing for longer time frames...possibly "flipping" as it rises...CAN be a $ making possibility...
Instead of using the wording of never hold a penny long...maybe...using the words "never invest in a penny stock" or "Only "play" a penny stock"
In this case of XKEM...it seems that a month of "holding" will have payed off...
But this would most defintely be IMO...
MY number one rule...PROTECT YOUR CAPITAL!
good point... flexibility
-------------------- Spend word for word with me and I shall make your wit bankrupt Posts: 977 | Registered: Jun 2006
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posted
10...good point..I played RSHN for a month..but I was flipping. Taking profits, then looking for a dip...I got in at .0009, so I made some nice cash along the way
Posts: 781 | From: NE PA | Registered: Jan 2006
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posted
"Rule number 2: anyone says anything about a rocket or a moon or the stratosphere... sell quick" -RD
HAHA, true, be out of the stock after you've made a nice gain (15%-20) or a little before it hits next resistance. Make sure you are OUT of the stock when everyone else is making predictions of how it will jump again, if it does, great for them, 90% of the time it doesn't. When people start posting "3 months from now.." or "In december.." thats great for them, but 2 3/4 months from now Ill worry about that Good Luck, trial and error.
Posts: 121 | From: boston | Registered: Feb 2006
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posted
Good morning I am new at this " I have learn a lot from reading the board. My bigest problem is knowing when to let go. But, I will stick with buy low Sell High. good luck today.
Posts: 29 | Registered: Jun 2006
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posted
Ten, what I read over and over and over is people dumping their entire wad into sub-penny stocks on nothing more than whim, wish and a promise of wild profits.
I also read those people commenting,
"I would like to buy that stock but all of my money is in this stock. I have no more money."
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