Red on USGA for 2 days straight, sold and the VERY next day it popped.
Red on USXP sold for loss and literally a half hour later PR was released about awesome earnings. Shot back up...
Bought into PLKC as soon as I unloaded USXP (TOO EARLY obviously) so I took the loss on USXP but then PLKC closed Red yesterday, and then today was down 20%!! UGH! DISGUSTS ME!
Bought in GWDL at .0025 and been red since...
GWDL and PLKC are looking for a pop in the PPS but right now I am very very annoyed, this week definitely puts the F in UCK!
-- Sorry had to get that all out
Posts: 839 | From: Muncie, IN 47304 | Registered: Nov 2003
| IP: Logged |
posted
Marcidius, what you are saying sounds like the classic example of what people do when they first start to trade. Buying too high on the runs, and selling low on fear. Reverse the thought process- the first thing you will need to do in order to make winning trades.
You should watch the stocks that are down, the ones people are selling- when you are watching a stock drop, and you think to yourself I'm glad I don't own that one! You watch and wait for it to bottom and reverse. Don't try to pick the bottom, wait for it to show a sure sign of a bottom. If you don't have level 2 get them, they are necessary to trade smart. They will show you support and resistence, and how the support and resistence changes throughout the day even when no trades are going through. With time this will become easier.
PLKC is a great example. Remember when it was down in the .062 range? I had been watching it for a week straight waiting for entry. When it sold off the most, and showed a signal of a bottom, I entered at .065, and sold on the news at .081
The mentallity you seem to have is buy when its moving up, which is good, dont lose that. But you need to look where it IS when your buying the trend. Is it moving up at the end of the trend or beginning? Very very important. If your trade is a bad one, try and sell back where you bought, or nearby. Small losses are fine, and your good trades will wipe those out.
Since you had such a bad week, I recommend trading light next week. You're prob mentally shook right now, so establish smaller positions first, and add to them if they work out.
posted
To say my screen was all red today would be an understatement. I turned my computer off at 2PM so the monitor would not bleed all over the carpet. First time in awhile I am glad the week is over, and have a few days to regroup. No doubt by Monday I will be up at 4AM looking over positions and news releases....and hope for better fortune. Glad its just beer money. Posts: 109 | Registered: Aug 2003
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posted
i just gotta tell ya that the people here really rock - all you guys. everyone's very supportive and open with the info, trying to help each other make a buck. sure there are pumpers and bashers, but i find more help than hurt here.
i'm on the learning phase and will buy my third penny stock on monday, the first one since finding this board. i'm learning from you all.
thanks everyone.
Posts: 353 | From: Bay Area, CA | Registered: Feb 2004
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posted
Hang in there everyone. You just have to find your groove. The first few months of this "new" career I've chosen I got my ass spanked regularly. Just have to get the hang of it. Everyone using OTCcharts, constantly monitor your 52 week high chart and keep every news site handy.
posted
GEEZ am I glad someone else is bleeding besides me this week, been chasing stocks like a starving lunatic imagining a giant hamburger just beyond reach. So changed my strategy a little and bought pjtg at 24 thought that would be a nice, safe, small gain to catch on it's predictable little rise. WRONG!!! Fell to 22 and has been stuck there for three days. My wife cut my hair off while I was sleeping so I would quite pulling it out, and the dogs been gnawing on my power cord and snarling if I look at the computer too much.
Posts: 123 | From: anchorage, ak. usa | Registered: Jan 2004
| IP: Logged |
posted
quote cabbage22 -------------------------------------------------------------------------------- Marcidius, what you are saying sounds like the classic example of what people do when they first start to trade. Buying too high on the runs, and selling low on fear. Reverse the thought process- the first thing you will need to do in order to make winning trades. You should watch the stocks that are down, the ones people are selling- when you are watching a stock drop, and you think to yourself I'm glad I don't own that one! You watch and wait for it to bottom and reverse. Don't try to pick the bottom, wait for it to show a sure sign of a bottom. If you don't have level 2 get them, they are necessary to trade smart. They will show you support and resistence, and how the support and resistence changes throughout the day even when no trades are going through. With time this will become easier.
PLKC is a great example. Remember when it was down in the .062 range? I had been watching it for a week straight waiting for entry. When it sold off the most, and showed a signal of a bottom, I entered at .065, and sold on the news at .081
The mentallity you seem to have is buy when its moving up, which is good, dont lose that. But you need to look where it IS when your buying the trend. Is it moving up at the end of the trend or beginning? Very very important. If your trade is a bad one, try and sell back where you bought, or nearby. Small losses are fine, and your good trades will wipe those out.
Since you had such a bad week, I recommend trading light next week. You're prob mentally shook right now, so establish smaller positions first, and add to them if they work out.
Hope this helps
----------------------------------- end quote
Cabbage, that was one of the better posts I have read in a while. Thanks.
posted
Hello all, last week is what really got me. I was down about 12%. This week down only about 4%. Thanks for all the help. I have been chasing them on the rise and selling because i get scared. But I am learning a lot from all of ya'll good people. Let's look forward to a good week ahead. Thanks and hope you have a good weekend. Billy
Posts: 76 | From: Valley Park, MS | Registered: Jan 2004
| IP: Logged |
quote:Originally posted by cabbage22: Marcidius, what you are saying sounds like the classic example of what people do when they first start to trade. Buying too high on the runs, and selling low on fear. Reverse the thought process- the first thing you will need to do in order to make winning trades.
You should watch the stocks that are down, the ones people are selling- when you are watching a stock drop, and you think to yourself I'm glad I don't own that one! You watch and wait for it to bottom and reverse. Don't try to pick the bottom, wait for it to show a sure sign of a bottom. If you don't have level 2 get them, they are necessary to trade smart. They will show you support and resistence, and how the support and resistence changes throughout the day even when no trades are going through. With time this will become easier.
PLKC is a great example. Remember when it was down in the .062 range? I had been watching it for a week straight waiting for entry. When it sold off the most, and showed a signal of a bottom, I entered at .065, and sold on the news at .081
The mentallity you seem to have is buy when its moving up, which is good, dont lose that. But you need to look where it IS when your buying the trend. Is it moving up at the end of the trend or beginning? Very very important. If your trade is a bad one, try and sell back where you bought, or nearby. Small losses are fine, and your good trades will wipe those out.
Since you had such a bad week, I recommend trading light next week. You're prob mentally shook right now, so establish smaller positions first, and add to them if they work out.
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