posted
I'm new to the game, I have an Etrade account. What is the best way to sell a pink sheet. I think probaly as a Market price type which would sell it ASAP.
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Always use a limit and try to sell into momentum so that you will have the volume to properly sell your order at the price you want. If you hold too long volume may dry up and then you will be stuck and will either have to seel at a much lower price or even worse holding a worthless bag. Pinks have huge swings one day they could be the talk of the town trading millions upon millions of shares and the next day have no volume at all. Be careful and DON'T BE GREEDY.
GL!
-------------------- Money often costs too much. - Emerson
**ALL POSTS ARE IMHO, DO YOUR OWN REASEARCH.**
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So if I own a stock right now at .10, I should sell at the Limit Price of .20 if I want to double my money. Also I should use good until cancelled or Good for a Day. HELP
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if my stock was FMNJ and bought at .05 and was happy selling at .10 to double my investment, how would I set it up so the stock would automatically sell when it hit .10 using Etrade.
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imakmony2005
unregistered
posted
yes 100stacks that will double your money, always use good till cancelled you can always change it but it puts you in line to sell at that price, who ever puts the order in first gets first sell at that price, but you still need to pick all are none, are leave it open and sell any size block i.e you have 1 million shares you put a sell at .20 all are none if the stock just touches .20 you will not sell but with it left open you might just sell 300 shares and be paying your broker for that one small trade. lots to think about. good luck.
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imak, never used GTC, but I have heard that many times those GTC orders get put "on a shelf." Suppose it may vary from broker to broker, or whether it's pinks--as I recall, this conversation was strictly about pinks...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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This is what I used to sell FMNJ is this right.
Order Type Qty Company Name and Symbol Price Type Your Price Sell 40650 FRANKLIN MINING INC (FMNJ) GTC/Limit/AON $0.048 --------------------------------------------------------------------------------
The above means when the stock hits .048 all of the 40650 shares will sell and I get over $1,900 back. Then can I buy another stock immediately?
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CRab thanks for the post. Have read it, printed it and will read it again. I am a newbie and have made many of the mistakes listed. This should be a great help. Thanks to all involved.
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quote:Originally posted by 100stacks: This is what I used to sell FMNJ is this right.
Order Type Qty Company Name and Symbol Price Type Your Price Sell 40650 FRANKLIN MINING INC (FMNJ) GTC/Limit/AON $0.048 --------------------------------------------------------------------------------
The above means when the stock hits .048 all of the 40650 shares will sell and I get over $1,900 back. Then can I buy another stock immediately?
You may or may not sell all the shares at 0.048. It depends on the volume and the bid/ask. But it will not sell for less than 0.048. If you have a margin you can usually use the money immediately, if you have a cash account you will have to wait the 3 day setteling time period (I think--I have a margin account so I don't remember the cash rules which I hear can vary with broker).
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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With the money that you just got selling FMNJ. You can buy anything with that but CAN NOT sell that stock you got before the FMNJ funds are setteled (which is usually 3 days) unless you have a margin account...
quote:Originally posted by 100stacks: This is what I used to sell FMNJ is this right.
Order Type Qty Company Name and Symbol Price Type Your Price Sell 40650 FRANKLIN MINING INC (FMNJ) GTC/Limit/AON $0.048 --------------------------------------------------------------------------------
The above means when the stock hits .048 all of the 40650 shares will sell and I get over $1,900 back. Then can I buy another stock immediately?
Do I use a limit to sell a stock that's at .10 when I want to sell at .15(so when it hits .15 it sells automatically)
100, given these posts? what is it you don't understand?
"Limit" sets your parameters, your perimeter, your boundary; "market" exposes your order to a wide range of "what's possible--without getting caught for screwing for this guy?"
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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You may SERIOUSLY want to concider paper trading for a few months before you wind up losing a lot of money. Go spend the $20 on a book on trading and read, and re-read everything you can. Then go back and read some more. Then paper trade the crap out of stuff. It is better to kick butt paper trading then losing everything with real money. Once you get mostly profitable paper trading after a few months or more, then trade with money that you do not mind losing. Stick to your plan.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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