posted
rickpic...you are certainly right. I have several stocks that I have been holding a long time and am still waiting for them to do something again.
As I said, if I could sit here every day I would darn sure be doing it your way and if others reading this thread can be at their computer all day I would strongly advise them to trade like you. Best of luck to all.
-------------------- It's only money..We'll make more tomorrow!
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posted
THANKS RIC FOR THE MINDSET AND STRATEGY. BEING NEW TO TRADING, I'VE DONE OK, LOST A LITTLE ON SOME, GAINED MORE THAN I'VE LOST, BUT I SEE YOUR APPROACH IS MORE ABOUT CONSISTANCY AND NOT GETTING CAUGHT UP IN THE EMOTION OR DESIRE FOR HIGH PROFITS. GOOD IDEA. MY QUESTION IS WHERE ARE YOU GETTING A JUMP ON NEWS? I'M SURE THERE IS A WEBSITE THAT IS DEDICATED TO THIS INFO AND CAN YOU OR SOMEONE ELSE LEAD ME TO IT OR THEM? THANKS A TON!
-------------------- IF YOU DON'T TRY, YOU WON'T LEARN
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posted
Well after taking a $500. hit on CALI to start the month! I placed investments in TWOG,BDWH, and GWGO and today moved nicely into the green for the month, and with news coming on TWOG it could be a very very good week! Good Luck All!
-------------------- Nothing moves a sub like news!!!
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posted
Ok Rick, What was your intial working capital, you started with last month. So far this month i'm up $45 in the green. I placed investments in CWFG,ICMH,and am in the green for the month,hopefully with news comeing on my two big picks. Remmber i started with 0nly $300 on the 15th of sept and am up 50%.
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posted
Isn't it, i just wish i could find the trick to make mine compound faster. I'm hopeing for a very good month , go CWFG Heres looking to contracts.
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posted
rickpic nice post, one of the best posts I've read here. I haven't activly started trading yet, but I was looking at penny stocks and I felt like this was a fast game and I didn't understand why so many guys held them for so long.
I think I'm going to spend the next week using your method to make fake picks and see how I do.
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Very inspiration post. With pennies I've been trying to do the quick trades -- 10% here and there -- but lately the darn things things won't sell when they're up and then they bttom out and stay there for weeks, turnign me into a long by default.
But seriously, if you keep even half of these sorts of gains up and post everything in a designated Rickpic Thread or on a blog of your own, you will have a fan base ... and probably a book deal in a year. Congrats on the great month you've had! Keep it up. I'll be looking for your next short-term picks...
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posted
Speaking of news affecting stocks, has anyone tried any of the related stock market software aps available out there? One that caught my eye is "StockSpy", which tracks how news affects stock prices, but I don't know if it updates fast enough show when it's a good time to get in -- or if it's only analyzing data afterwards, EOD.
From Download.com .... If anyone has any thoughts on this sort of thing, I'd be interested....
"Stock Spy is a one-of-a-kind software application that allows you to instantly understand the effect of the news on the price and volume for any stock. It provides you with an easy visualization and pinpoint important stock events to make better investment decisions. You will learn where a stock came from, where it's going and why, all in a crystal clear manner. It gives you the edge, whether you are an individual investor or professional trader."
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posted
Nice to see people making money and sharing there ideas. I also made a killing in the last month. The right place at the right time I suppose. Heres where I made a killing.
I think I am catching on to your method. Couple questions though. Looks like you are currently in the energy and gold sector which is pretty much the buzz these days. Do you tend to stay within a specific sector or does it really matter? Given that what type of news really grabs your attention? Finanials,contracts,growth,etc.. Lastly, it's been my experience that on great news a stock usually takes off first thing in the morning, then experiences a pullback. Do you put in a pre market bid at or above the ask, wait for the stock to take off in the am and try to get in, or wait for the pullback?
-------------------- Pennies...Get in, Get out, Get a profit!
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Yes I do somewhat follow sectors without really thinging of it that way, but the buzz in any given month or quarter usualy is within a sector. I tend to go with stocks that I have come to understand. Such as mining, gold, silver, oil, no diamonds (Damb CMKX tought me that) Real estate is another sector that I understand pretty well, but when it comes to large PR's I really don't care what sector there in. For instance I was on the BOCX run with there medical breakthrough very early and road it for a very nice gain, and there are many others, but that one just comes to mind.
As to when I get in. I get up early and read every pre market news of any significance within the OTCBB market and if I find a gem then I am usualy looking to place a bid 1 minute before the open at the ask. How long I hold it depends on how fast it runs. I sell into the run. Before the momentum slows down so that I can safely exit and not get stuck it the stock, when it retreats. Then I either wait for it to drop and re-enter or move on to the next one.
As for consistancy my gains chart shows just that and with few dips, but when it comes to loses along the way i just take them in stride and find another gainer. I certainly don't dwell on loses or missed major gains. I just don't have time for that.
Good Luck Today Guys and Girls!
Rick
PS: Please don't follow anyone blindly! Do some DD and play safe!
-------------------- Nothing moves a sub like news!!!
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I will take all that into consideration. I plan to give your method a try and I will report back later on this thread about all the green I make hopefully.
The only thing that confuses me though and I need to get clear on it before I start this method, is the amount of day trades I can do before I get myself in trouble with Etrade which is what I am currently using.
I say this because if you use all your funds into one stock, buy at open, sell during the run which doesn't take long leaving plenty more time during the day to play others, it seems clearing the transactions could get quite messy.
I do have a margin account and I usually have no problems selling one stock and using those funds to buy another right away but I have never been an active day trader before.
Just worry about having Etrade freeze my account on over trading.
-------------------- Pennies...Get in, Get out, Get a profit!
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posted
there is a three trade rule on day trading in any 5 market days if you have less than $25k in a margin account, that covers day trading. As long as you don't do 4 day trades in 5 market days your ok! If you have over $25k in a margin account there is no limit to the number of day trades you may place, as long as you stay above $25k. A trick I have learned is that a buy in the afternoon and sold in the AM is not a day trade even if you buy back that same stock on the same day you sold it. Day trading only works one way its defined as buy and sell in the same day and not sell and buy in the same day! Good to know if you have used up what your allowed!
-------------------- Nothing moves a sub like news!!!
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I did a practice run this morning and picked 4 otc stocks with pre-market news and they are all in the green! NGNM FEEC TERX and LGCP I think you are really onto something here Rick!
Thank you for sharing...
-------------------- Pennies...Get in, Get out, Get a profit!
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Take everyone through your process of actully picking an individual stock and how you find one at the right price. Are you reading every news post at http://www.stockhouse.com/news/ or skipping around?
What mechanism makes you pull the trigger? And how are you monitoring changes in volume?
-------------------- Get In, Get Out...but Make Up Your Mind!
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'Tis funny: Your list of winners is like the mirror image of my losers this month -- I had most of exact same stocks but bought a while ago at prices that turned out to be too high... so I probably sold all of these stocks at similiar prices to you but at a loss. Actually, I'm still holding CWMF, but it's in the red for me...
I'll keep an eye out for your posts. Share the winners and I'm sure your star rating will rise... I'll try bumping you up a bit right now....
quote:Originally posted by 100prcent: CWMF 400% MMIC 300% LFWK 850% 9 trades (upset some people:) NNOS 450% WDAM 900%
I've been playing the market the same way but picking stocks through stock scans like at stockcharts.com, or watching top % gainers and taking the profit off the momentum.
VIVI was one of my 1st picks and went from .10 to .71 in a couple of days last year. I left some money on the table on the way up and moved on (also gaining 37,000 shares of a spin off company due to go public near the end of this year).
I jumped on MSEP on the way up and jumped of at the turn. Got into PLNI * .005 and rode it to .002 and back up to .015.
I grabbed CNES (a little late)on the way up to .01 and also sold early the 1st time. Then got in and out on some of the dips, making $5500 one day. I bought a car for my son and a transmission for my car, leaving about $500 in the acount.
Big runners have cooled off this year, with a couple of exceptions, and I've just been toying around waiting for CNES to pop again on news of their Multi-channel H-net product due out any day. Then diversify and play momentum again.
I like your strategy and concept but seems like a hell of a lot of reading. I was just wondering specifically about your search process and how you think. I wasn't asking for you to do the work for me. If you want an easier way to find winners I'll tell you. But you'll have to give me my $1000 back. Ha!
-------------------- Get In, Get Out...but Make Up Your Mind!
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posted
hey rick , i like your strategy put i seem to have one big problem with it , It seems that for your system to work you need money something i don't have. With my limted resources i find myself holding he bag again ,waiting for news so that at least one of my picks will put me in the green. Currently holding . AMHD CWFG ICMH ECUI CMKX LBTN PCCR
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posted
First of all I only read headlines, till I find hot news, so its not that much reading! Second its a very fast paced way to trade and sometimes I'm in at the open and out at 9:45 taking the gain with me and moving on! Third is that the whole point to this thread was to start with very short capitol and build on it by compounding gains day over day or even trade over trade! Good job with your gain though! You have 49 minutes left! LOL
-------------------- Nothing moves a sub like news!!!
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posted
I agree but i dont want to miss out either, i have a good feeling about AMHD which i am showing green 24% gain. I hear CWFG should pop once news comes out before the end of the month, sitting on 500k at .0002,Same as ICMH and PCCR. Can't lose on PCCR bought in a .0001 . Saving my long term dogs LBTN and CMKX so i could sell them at a lost for tax purpose's once i make some gains.
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