posted
I am wondering if some people would give me a quick lead through their daily routine for day trading. I have some questions like.
Do you read all the news for PR's the night before? Do you put orders in for stock after hours and try and pick it up right in the morning? Is the first thing you do every morning is check your stock scans - and what do you do from there?
I guess I'm not really looking for direct answers to my questions(feel free to answer them) But looking for people's routines. As I feel the routine I'm in doesn't work very well.
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With penny stocks you cant trade pre-market or After-hours, so you don't have to start paying attention to the market as early as Big Board stocks.
This is what I do for penny stocks...
At 8:30 I start reading J_U_ICE 's PR thread in the .10 and under board. Or you could just read the news in Microcaptrade. But J_U_ICE usualy posts the important PR's any way. I also skim all of the hot threads, and the "BB Penny's Haven" board at IHUB. At 9:00 I start looking at the top 400 in Microcaptrade, and sort them by the # of trades, to see which stocks are getting the most Pre-Market trades and interest, weather it's buying or selling. You can see if stocks with the most pre market trades had a PR or not, by the mark in the left column. That is very usefull.
At Opening Bell (9:30), I bring up Microcaptrade's News, top 400, and the streamer, to see which stocks are the most active for buying or selling. I also have the trading alerts up to see if block buys or sales are comming in for any stocks. And the most important thing is to have the news in Microcaptrade up at all times, to catch a hot PR when it comes out and get in early. If you get in early, and it doesn't run like you thought it would, you can usually sell and at least break even, if you got in early.
And remember, there's alot of pumping at BB's Penny Haven and all these boards, so just use them to see what stocks have the most hype. Take everything you read with a grain of salt. Try to get in stocks early and get out early, even if it is a small profit.
Also not all pumpers say "To da Moon" or "This is gonna be a 10 Bagger." There are intelligent and sophisticated Pumpers, Too. They will post a well thought out post...with numbers, figures, PE ratio's, and what they claim to be the fair value of the stock. It's still a pump and the stock will never go that high. And if it does, it's Okay, Because you will already be in the next hot stock.....Right?
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Just so everyone knows the 2nd Edition of the book is coming out in February. Which will be good because the current book is copyrighted 2001.
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