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....
Posted by keithNJ on :
rule number 1: BUY LOW-SELL HIGH.
Posted by coalkickin on :
1. Don't chase 2. Always take profit...any green is better than red
Posted by Relentless Despot on :
Rule number 2: anyone says anything about a rocket or a moon or the stratosphere... sell quick
Posted by 10of13 on :
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.
very nice guys....good looking out
Posted by Intimatrader on :
That was very nice ......I like that ....
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 . Posted by dmxbr9 on :
haha ur funny....
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!
Posted by coalkickin on :
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
Posted by Stock_Feign on :
stfu = shut the fux up lmaootwttb = laughing my a$$ off on the way to the bank
oh and, this is a talk board, not garanteed picks, do ur own homework, buy when u feel its right and do the same when selling
i go in the bathroom now and do number 2 good nite
Posted by CobyCo1 on :
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!
Posted by 10of13 on :
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..
Posted by CobyCo1 on :
10of13, actually the second page on XKEM is where I started investing. Holding long.
Posted by Relentless Despot on :
Rule number 4: Don't ever hold penny stocks long...
Posted by 10of13 on :
CobyCo1 Posted by 10of13 on :
quote:Originally posted by Relentless Despot: Rule number 4: Don't ever hold penny stocks long...
Good point...but define "long"
Posted by Relentless Despot on :
more than a week... give or take a day or two.
Posted by T e x on :
quote:Originally posted by keithNJ: rule number 1: BUY LOW-SELL HIGH.
*obnoxious buzzer sound*
nope...
rule #1 in pennies is do *not* fight the MMs...
Posted by CobyCo1 on :
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.
Posted by Relentless Despot on :
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
Posted by coalkickin on :
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
Posted by MoneyMoneyMoney on :
Took RSHN 4 months for my 1500% gain.
In my book: Never use money you CAN'T afford to lose. Always protect that capital. Take some type of profit to keep you in the game.
Posted by 10of13 on :
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!
Posted by T e x on :
SO MANY
different capital situations...
with plenty of dough? one can afford to take meaningful positions in shells, based merely on info from pinksheets...
looking for the pop to 1,200%
happens alla the time...
izzat a hold?
nah...
Posted by Relentless Despot on :
quote:Originally posted by 10of13:
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
Posted by coalkickin on :
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
Posted by T e x on :
10 of Reminders posts: "PROTECT YOUR CAPITAL!"
gulp...
oh, yeah...
that was my #1, eh?
Posted by 10of13 on :
quote:Originally posted by T e x: 10 of Reminders posts: "PROTECT YOUR CAPITAL!"
gulp...
oh, yeah...
that was my #1, eh?
It's Ok Tex... I am sure that with you it isn't a rule...it's a given! Kinda like breathin'... Posted by T e x on :
10 of Bail-Me-Out posts it's a given...
Y E A H
that's the ticket!
It's a g-i-v-e-n
Protect capital...that's what I was sayin'
therefore, "Don't fight MMs" is Rule #1
-- Jon "Tex" Lovitz
Posted by dmxbr9 on :
dont be shy to PM me or add to yahoo messenger dmxbr9. gl all
Posted by Graham Charitable Trust on :
"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.
Posted by Purl Gurl on :
Ten of Pentacles comments,
"MY number one rule...PROTECT YOUR CAPITAL!"
Yours is THE number one rule of market trading.
Defensive trading, like defensive driving, protects you and your loved ones.
Purl Gurl
Posted by tony Zuniga on :
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.
Posted by Purl Gurl on :
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."
A word instantly comes to my mind, "Fool."
Purl Gurl
Posted by Purl Gurl on :
"My bigest problem is knowing when to let go."
When you have reached your modest profit goal.
Set a percentage gain goal, ten percent, twenty percent. When your goal is reached, sell without hesitation, sell instantly.
Does not matter if a stock continues on upward, you have protected your capital.
A single mistake of greed can and will wipe out all of your profits and then some.
Greed will defeat you, always.
Purl Gurl
Posted by 10of13 on :
Purl... I have been one of those fools..plenty of times...but I am learning...that if it isn't makin' me money right now..need to take it where it will!
(but in the "fools" defense...someimtes it's that 3 day waiting period, the settled funds thing, that keeps them where they are at!)
Posted by T e x on :
quote:Originally posted by 10of13: Purl... I have been one of those fools..plenty of times...but I am learning...that if it isn't makin' me money right now..need to take it where it will!
(but in the "fools" defense...someimtes it's that 3 day waiting period, the settled funds thing, that keeps them where they are at!)
that's improper management...
related, but a different "lesson"
Posted by Ztiger on :
Thanks Purl Gurl We are green today, XKEM. I miss out on RSHN
"A single mistake of greed can and will wipe out all of your profits and then some".
I will try not to make, the same mistake twice.
Thanks good luck on fri.
Posted by WMRP on :
If I buy a stock, How soon after can I sell it. Do I have to wait for the settlement date?
Posted by 10of13 on :
quote:Originally posted by WMRP: If I buy a stock, How soon after can I sell it. Do I have to wait for the settlement date?
If the stock was bought with funds that were settled...you can sell it right after you buy it...
If you are trading on a cash account...and the funds weren't settled...you would have to wait...
GLTY!
Posted by T e x on :
for most 'em? 20 to 40 minutes about right
o wait, you asked "can" not "should"...
my bad...
Posted by The Bigfoot on :
Buy only with settled funds. It took me a long time to learn that lesson even though it really should be common sense.
The lure is...you are listening too much to the pump and looking to broadly at the charts.
"This one will pop and even if it retraces a bit I'll be able to get out with good profit in three days."
NO.
If you are falling for logic like that you have gotten addicted to the run and need to take a step back.
Trade a stock...and get out according to your pre-established rules (my rule, one week unless stock REALLY looks good and two weeks max with no exception. I look for a larger percentage return then Purly. Once my stock passes 20% I make that my minimum and wait to see how the run will continue.)
Get the money back in your account and DO NOT TOUCH that money again until three trading days have passed.
That way if you get in on top (if you do that you are chasing a stock and need to reevaluate your methods) you can get out right away again and limit your loss.
BIG
Posted by Ztiger on :
Does any one own FGFC do you think it will move in JUL
Posted by Ztiger on :
This was put out on 27 june 06 what,would happen to a stock when something like this is done? what inpact would it have on the share holders.
First Guardian Financial Corporation to Retire 48 Million Shares Thus Reducing the Company's Authorized Shares to 152 Million First Guardian Financial Corporation (Pink Sheets: FGFC) today announced it has agreed to acquire a block of 48 million restricted shares thus reducing its authorized shares to 152 million.
The Board of Directors has approved management's acquisition of said shares; this move will be above and beyond and will not affect the previously announced buyback of up to 50 million shares on the open market for up to a maximum price of 0.06 per share for a budgeted commitment of up to $3,000,000.00 Dollars.
"
Posted by The Bigfoot on :
Ztiger...
To your first question...chart looks ok. not great...but ok. Haven't done any DD so make sure there are no traps within the paperwork before you invest. I would wait for confirmation of an upward trend also.
As to your second question. They are retiring "Restricted" shares not "Common" shares, this will reduce their AS but it won't effect the float.
Don't get the point personally. Unless the Restricted shares were about to fullfill their pre-tradable requirements.
On the other hand, if they actually go through with the 50 mil buyback on the open market...
The Bigfoot
Posted by Ztiger on :
Thanks Bigfoot
I will do some DD on this. have a good night.
Posted by Purl Gurl on :
bump
Posted by stratcat on :
I am a newbie and need advice.My current portfolio includes the following stocks,ABDE, ADNL, CBCL, EBOF, EEEI, EFTI, MTNA, PXIT, TEXC, UCPI, VRDM, XLPI, XNL, XSNX.I didn't have much money to start investing with and now have even less.My current situation is I am a veteran and I haven't worked for 3 years due to a back injury and the Docs say I will never work again.I am currently fighting the Govt. for compensation but in the meantime I thought I'd try my hand at the stock market.If someone out there has the time to help me with advice on my current holdings it would be greatly appreciated.I am prepared to give furthur details of my portfolio to assist in getting help.The bottom line is "I want to make money and need help from those of you who know how and don't mind helping the little guy"
stratcat
Posted by dmxbr9 on :
anyone who has questions, feel free to PM me. im always willing to give a helping hand!
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