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TAKING LOSSES My stategy is if I review a buy and circumstances change to the point where I would not buy with new data, then I sell. Loss or gain. VAN
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so how about i start off with JRSE and turn my 2 hundred and some change into 3 hundred and some change
Got into WTEQ 100 percent buy on all the chart readers and it goes down lol
Take losses and get into ADVC
Hear some much bs that ADVC is a good stock and bleh going to go up bleh and it goes down
so at this point im like F it...
i've watched XYNY go from .08 - .12 - .14 a DOZEN times.. and it normally stays around .06 and .08 so im thinking well this has support and is just going to go up. I buy it and in two days it goes down to .03 lol
my account is now worth 60 dollars.. so i am stuck waiting on XYNY to pull a rabbit outta its arse and go back up
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Reading this thread reminds me of myself when I started trading, typcial beginners syndrome.
Following American Bulls.com or barcharts ratings will get you nowhere, they are basing of historical movements. They are informative, but not crystal balls.
When you initiate a position you need to have a TARGET price as well as a STOP LOSS price. You also need to figure out the amount you are willing to lose percentage wise, the most likely downward move, and base your share position on that. If the trade goes bad, you lose that pre-determined percentage, if it goes well, you can always add later. The trend is your friend. Cut those losses short, and ride the gains.
Blackice could you email me at cabbage22@hotmail.com
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I read somewhere that 9 out or 10 micro penny stocks are scams and it went on to say that some of these companys didnt even have a product even on the drawing board!! Also I have been watching about 30 different penny stocks for a year and I can say that after a year 25 of them are dowm and never really recoved. I think there is more to this than what we all know, maybe its the mm who knows but its just too risky and it smells kinda fishy. just about every stock I bought into has been down for a year like they say I havent loss until I sell but it feels like a loss lol So I come to the point where Im not doing it any more I work to hard for the money I have lost in this and not counting the time i spent at this computer worrying and starring until my eyes were red. so good luck and think about it. the big fish eat little fish
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Being 15 you see stuff we would never see. Find a company you like. Get to know what they do how they work. Talk to ceo anybody in the industry. Buy into the idea and hold fast. Just my thoughts most penny stocks go up and down all year long. Can it ever go back up. The answer is yes. I have had the worst stocks around. I had sssu bought when it was gmpt at .015 put a sell while on vacation at .20. They dropped bs news and it ran to .20. Some of the companies of the future that have penny stocks are fgwc and cwir. The have towers and send data over the airwaves. In ten years you will not need a phone/cable line to get the internet. These are my picks long term. Find your own companies and industries. And last but not least never chase a stock unless you are going to flip it. Most stocks come down just as fast as they went up. Cash is king always try to get into free shares and pull some profit when they run. Do not be afraid to sit on some cash untill you find what you like.
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quote:Originally posted by Purl Gurl: ...[know] absolutely anything and everything, including if the front desk secretary wears panties or not.
If you know that much information, you had better be sure you understand insider trading laws!
And for "Purl Gurl": What if the front desk secretary is a man? Do we still want to know whether or not he wears panties? (Just had to point out the "sexist stereotyping" again.)
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Competent One -Purl Gurl never specified if the front desk person was a man or a woman who wears panties-the person with the sexist bias isn't her-Debi
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quote:Originally posted by WWJD-thru-me: Competent One -Purl Gurl never specified if the front desk person was a man or a woman who wears panties-the person with the sexist bias isn't her-Debi
My comment on "sexist bias" relates to an earlier "discussion" with Purl Gurl on this board--because I was expressing a "strong opinion critical of her" she automatically assumed I was a man, (she commented something to the effect, "You're just like all men who think just because I'm a woman...") when there was nothing I had posted to indicate my sex/gender. (I'm sure the old thread is still there.)
Her assumption about me exposed a "bias"--my comment above was just a "nudge" and "wink" response to her--generally, I agree very strongly with a lot of what Purl Gurl says!
I give credit when I think credit is due, and criticism when I think it is deserved. Some people don't like that; they want people to agree with them all the time and take it "personally" when others are critical. I haven't drawn any final conclusions about Purl yet, but some of her comments during our first (and last) exchange lead me to believe she has difficulties accepting criticism. (She'll probably say, "I'm not worth a response...")
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Losing is ok. You can't ALWAYS win. Just keep your losses low. I just lost a few hundred on fxgp. Even more on advk and gbll. Thank god for qbid.
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You're not alone. Just about any trader I know has lost on their first trade or trades including myself. It's a part of learning the market. Paper trading does help but it's nothing like having real money on the line and seeing if your orders do actually fill. Anyway, FWIW, you might want to:
1) Define your type of trading strategy...Daytrade, Short-Term, Mid-Term, Long-Term, etc.... 2) Differentiate between the NYSE, Nasdaq, OTC and Pink Sheets. If you decide to deal with the latter, understand that there is much more volatility which means big gains can be had but big losses can also occur if not careful. 3) DO DUE DILIGENGE! Charts, stochastics, fundamentals, support levels, etc.... 4) When you do decide to enter, don't go all in because if the stock drops (and all have pullback) you can always average down. 5) Let your winners run but no when to get out (I look for overbought signals). 6) Always set a stop/loss limit. I usually set mine at 10-15%. And if it hits that and I'm out, I have cut my losses and I don't look back. There are plenty of stocks out there just look for the next one and start the process all over. 7) I NEVER fall in love with a stock because I am a trader not an investor....again, you have to decide what type of trader you are so you can map out your strategy before you do anything else.
Hope some of this advice helps and, remember, there's always some form of risk when dealing with the market, I believe, ultimately, in trying to minimize the risk.
quote:Originally posted by stocky1170: 6) Always set a stop/loss limit. I usually set mine at 10-15%. And if it hits that and I'm out, I have cut my losses and I don't look back.
Generally the post had good information, but never, ever, set a stop-loss limit order on a pink sheet stock; the Market Makers (MM) can see your order and--with the right low volume--can execute a trade (sale) using a single share to drop the price below your limit, take your shares at the limit price, then let the price ride back up to its former level.
If you're trading on the pinks, you just have to be willing to hold and accept the volatility. Trying to use stop-loss orders will just help make the MMs rich!
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You havent lost anything yet! Dont even start crying until you are in the thousands. When its good its REAL good and when its BAD its real bad. Fact is I make A LOT more than I lose but in the start I lost my ass so chin up and do your time gracefully we have all been there. Hell I dont even care when I lose money now becouse I know I will make more much more than the loss. JMO!
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Thanks to competentone for pointing out that it is not wise to put a stop/loss limit on Pinks....he is absolutely correct!! I should've clarified that I make a mental stop/loss note and execute only when it hits that point. Just goes to show you that paying attention to every detail is critical. Also, that there are many good people and traders involved on this board. Thanks, again, for pointing that out. Remember, we're all here to help each other out and make $$$$.
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I got AURFQ on monday at .034 paid $1100 and dropped to .09? when I went to work. And now the stock is not even on the market. My account is down about 3k from 3 weeks ago. I better start learning fast.
[This message has been edited by Keith (edited March 24, 2004).]
quote:Originally posted by TheRealSlimShady: You havent lost anything yet! Dont even start crying until you are in the thousands. When its good its REAL good and when its BAD its real bad. Fact is I make A LOT more than I lose but in the start I lost my ass so chin up and do your time gracefully we have all been there. Hell I dont even care when I lose money now becouse I know I will make more much more than the loss. JMO!
Not a good answer, don't cry untill your in the thousands. If you have a lot of money to play with that might be ok but a 30-40% drop is the same if no matter how much you have. New investers often only have 1-2000 in the market so your comment is out of line for someone asking advice.Hope you don't take offence at this as none was intended, we are all trying to help a newbi.
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