posted
lets start a thread identifying penny trade methods... I can think of
1. Long term hold thinking you got the next siris. 2. volume trading 3. news trading. 4. pump and dump 5. bottom busting 6. candle stick trading (chart trading) 7. fundamental trading
please list your techniques and how to work them
Posts: 1070 | From: louisville,ky,usa | Registered: Oct 2004
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posted
hello, I am new to the site. I am an investor, and I am curious about the penny stock trading. Who do you trade with , what can you expect as far as buying and selling techniques? My scottrade account will not allow stocks under a buck. I NEED SOME GENERAL TIPS, PLEASE...! thank you, mrjjs.
-------------------- jy.. Posts: 1 | From: Beaver, Pa | Registered: Mar 2005
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I find one of the best indicators of a run is by pulling a chart and watching the MACD when the little blue line is over the black line and takes a dip and cross the black line below zero starts a run...thats the MACD
Posts: 1070 | From: louisville,ky,usa | Registered: Oct 2004
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posted
Im not a fan of the MACD because its a lagging indicator.. i like the RSI and OBV better along with Moving averages volume and candlestick charting.. come to the Darkside Blueranger lol ...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
I use scottrade,and have never been turned down on buying.I would like to know what type of acct. you have.My price range of stocks is from less than .1 to over 10.00
Posts: 280 | From: w.sacto.ca. u.s.a. | Registered: Feb 2004
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quote:Originally posted by blueranger: talk to me about the rsi that looks to be easy to read... if its below 70 its a good buy.. right..
tell me more about the rsi
Below is a reply i did for a similar question about RSI.. hope this helps...
Sorry Risky.. i would of answered your question 2 days ago but i had problems signing into the bulletin board.. but it seems to be working now.. anyways RSI stands for Relative Strength Index and it gives you a indication if a stock has been overbought or oversold... if it's either or then it will most likely become a "correction" .. if overbought it will go down in price because its overpriced in traders minds so they will take a profit and sell..so the RSI will begin a downtrend.. if its oversold then the price has gone too low and it could be a bargain .. therefore traders will start buying and the RSI will begin a uptrend.. so the way to use it to analyze stocks is if the RSI hits 75 or above then its overbought and you should take partial or all profits because it will correct itself very soon if not later and begin a downtrend in price... if the RSI goes down to 25 and below.. look for it to hook up into a uptrend and buy it at a bargain.. when its between 25 and 75 look for uptrends to make a entry into the stock or downtrends to exit and enter it later when it recovers.. Anyways i hope this answers your question.. let me know if you understood... in your chart options select RSI as one of your Indicators.. I also use the OBV (on Balance Volume) which "indicates" if money is flowing in or out of a stock.. same concept though .. uptrend means price will go up because money is flowing into the stock and downtrend means price will go down because money is flowing out of the stock.. try to use the RSI and OBV when the price isnt moving but the RSI/OBV is... in that case they are giving you a early signal which way prices might or most likely move...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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posted
Wow Machiavelli , thanks for so clearly and quickly enlightening us. I'm very new to this, and found that explanation on RSI to be very helpful. Any more indicators you could provide on this, even old replies you made, would be very helpful. Any books or sites you recommend ofr learning?
Thank You
Posts: 234 | From: Gainesville, FL | Registered: Feb 2005
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I just invested in a penny stock (TLNO). This stock had great news and was winning contracts, in the some of 35 million dollars. The company said for the year 85 million projected. The volume of trades are impressive. I tried to locate an office where someone would answer the phone with the company name, no luck. In my search I can't find a business address anywhere. They are suppose to be in the VOIP Industry, such as COVD. The only address is an Export/Inport Business. This business is in Latin American. My question, doe's this company really exist? anyone have an idea?
RAD
Posts: 1 | From: 65 Meadow Street Warwick, R.I. 02886 | Registered: Mar 2005
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Short Term Trading, Long Term Profits by Jon Leizman
You save me the time of repeating myself for the millionth time lol jkk.. those are the only books u need... and i suggest you swingtrade instead of daytrade to get your feet wet and get trading experience... some sites and software that are useful are below... other indicators i use besides RSI is OBV, Volume, Candlecharts and Moving Averages (20,40 and 60 day Averages)...
posted
Machiavelli, that was excellent advice and a wonderful explanation. I went back and looked at a few positions I owned which are in the downtrend and sure enough, the RSI and OBV are great indicators! Thanks a ton! ECP
Posts: 184 | From: Pembroke Pines FL USA | Registered: Nov 2003
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