My new job has been keeping me extremely busy. So I have totally pulled out of penny market since I dont have time to watch them deligently and was losing lot of money by not selling at right time. Had increased my original investment 5 times and paid off some longterm debts I had had.
Well, I have decided to get back into market, but with very small amount of money $1000. Moreover, I am only planing on big board stocks, since I dont have this time to constantly monitoring the stock. I shall post all the stock that I am playing on that day. My hope is that I can always select a winning stock with extremely strong fundamentals, play it when its on its way up for 2-3%, and let it pass for next good pick. my hope is to average 1%-1.5% a day on average, and traders do know this is not easy at all. I shall be posting my day/day progress in this thread daily.
posted
Good pick on SPEX. I'm strictly a pennytrader so I don't have any suggestions for you, but how do you afford the transacton fees on such tight profit margins? (1.5% on $1,000 is only $15)
-------------------- Me Trade Pretty One Day. Posts: 815 | From: NYC | Registered: May 2006
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quote:Originally posted by kermit42: Good pick on SPEX. I'm strictly a pennytrader so I don't have any suggestions for you, but how do you afford the transacton fees on such tight profit margins? (1.5% on $1,000 is only $15)
Kermit,
I see what you are saying. I have gone back to basics. I realised that I got little addicted and started "overtrading" since I was constantly looking at L2's, Scottrade ticker.. so on and so forth.. scottrade charges $7 per transaction. So, I pulled out my money off scottrade. I changed my broker to buyandhold. It gives me 2 free trades a month. after that, each trade costs only 2.99. That makes it $6 instead of $14 for transaction fees. However, you pay the price of being able to do only window trades, and also, not able to buy or sell at precise price that you might want to buy/sell.
I reverted back to fundamentals. I honed my filters and made some modifications to those so as to have excellent results. One of the things I did was papertrading for 1 full month, and was glad to double my money papertrading. I was happy to have 100% success rate. I resubscribed to WSJ. I now identify stocks from stockfetcher filters, check for their analysts estimates/rankings/recommendations on WSJ, check for insider/institutional transactions on the stock, and only when I feel 100% comfortable, I put money. this is extremely important since my profit margin is extremely small.
I shall keep you guys posted on updates regularly. Please keep posting if you come across any good big board stocks, which you beleive might explode.
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
Got out of SUPG today at 3.69.. not bad.. about 4% profit on the trade.. am looking for next good stock out there.. got out of spex early on.. decent profit.. pulled out the cash I had in there for weekend use.. other two stocks.. barely green for now! shall give my EOD tally..
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
decent day.. could have been better.. could not find a stock to add EOD.. too many stocks were too low and major selloff at EOD.. would have been risky buying one..
well.. as of todays tally..
excluding the gains made by SPEX..
day #3, total: 1028.15
have a nice weekend all!
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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quote:Originally posted by kermit42: Good pick on SPEX. I'm strictly a pennytrader so I don't have any suggestions for you, but how do you afford the transacton fees on such tight profit margins? (1.5% on $1,000 is only $15)
Kermit,
I see what you are saying. I have gone back to basics. I realised that I got little addicted and started "overtrading" since I was constantly looking at L2's, Scottrade ticker.. so on and so forth.. scottrade charges $7 per transaction. So, I pulled out my money off scottrade. I changed my broker to buyandhold. It gives me 2 free trades a month. after that, each trade costs only 2.99. That makes it $6 instead of $14 for transaction fees. However, you pay the price of being able to do only window trades, and also, not able to buy or sell at precise price that you might want to buy/sell.
I reverted back to fundamentals. I honed my filters and made some modifications to those so as to have excellent results. One of the things I did was papertrading for 1 full month, and was glad to double my money papertrading. I was happy to have 100% success rate. I resubscribed to WSJ. I now identify stocks from stockfetcher filters, check for their analysts estimates/rankings/recommendations on WSJ, check for insider/institutional transactions on the stock, and only when I feel 100% comfortable, I put money. this is extremely important since my profit margin is extremely small.
I shall keep you guys posted on updates regularly. Please keep posting if you come across any good big board stocks, which you beleive might explode.
Don't take that 100% in papertrading as gospel because the psychological factor is not present in papertrading due to it not being real money. In other words we all trade differently when it's real money as opposed to "paper" money because emotions are not present in papertrading. But so far you seem to be doing fine and do not mine the small gain in %. As your account gets bigger you will be able to buy bigger and bigger amounts of shares. As for Fundamentals over Technical Analysis, I still disagree and you should consider more TA over FA in big board stocks. Experiment between the two and see which ones give you bigger profits in the long run.
-------------------- 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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quote:Originally posted by Machiavelli: [QUOTE] As for Fundamentals over Technical Analysis, I still disagree and you should consider more TA over FA in big board stocks. Experiment between the two and see which ones give you bigger profits in the long run.
Agree with you on TA Mach.. I make TA main priority.. the filter I am using currently is basically what i use for TA. it finds bounces when a stock goes low to get a breather when it is running hard.. to sieve out which stock I should buy out of entire collection of stocks.. I check for fundamentals so that even if stock goes red the next day.. it would get back to its original on some day and I dont have to take losses.. my main priority is not to take any losses on the purchases I make..
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
We all take losses in this game... it's impossible to get wins on all our trades.. what you just have to remember about losses is to limit them when necessary... think : I will put stop/losses on all my trades... if possible because I do not know what broker you use put trailing stop/losses... that way you don't have to constantly monitor your positions..
-------------------- 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
this is what I plan to do in about 5 months, when I am comfortable enough in paper trading and Ive read enough TA books. I'm rooting for you and wish you the best of luck!
-------------------- I'd just like to retire at 26. Posts: 113 | From: cleveland, oh | Registered: May 2006
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posted
Oh, and also, you might want to check out Zecco.com, they are offering free trades. I think its for the first 40 trades and then the rest are $3.50 or so. I havent tried yet so I cant comment on the quality.
-------------------- I'd just like to retire at 26. Posts: 113 | From: cleveland, oh | Registered: May 2006
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posted
I shall wait on someone to comment on zecco.com. trades going on fine and I am hitting 1.5% a day on average. can someone give a review on zecco.com? Thanks!
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
Yes Gag.... put half your bankroll on someone's stock tip on a message board lol ... put all your faith on someone elses pick and hope for the best... might as well put half your money on a Horse named Mustang Sally at the racetracks without handicapping the race just because i say so....
btw never put anymore then 1/3 of your bankroll on any one stock and always do your own DD and never buy on Tips, rumors , etc... read and learn from :
How I made $2,000,000 in the Stock Market by Nicolas Darvas
-------------------- 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
hehe.. rightly said Mach.. too risky on rvbd surfer.. IPO with little history.. IPO's do extremely well when market booms.. but suck big time when market is down.. except companies like MA and goog.. whihc have monopoly over their markets.. a look at IPO's released in the quarter before this one might give an indication.. dcp, vse, cpx so on and so forth. but i will keep it in radar.
right now I am up by $72. my total is 1072. I got out of SBAC at right time after taking 4% gain, since it dipped after earnings report. I got out of VDSI at 12.56, but will get back in on Monday EOD since I think it shall go up for next highs! lost $24 on MRVC. in at 3.43, out at 3.35, but i guess its dipped quiet big at 3.2 range today, but will get back into it late next week. in and out of sks at 19.20 and 19.73.. should have waited on that one and sold at 20 range. right now i am holding grow (in at 36.28), tnb (in at 50.25) and zumz (in at 30.62 eod today).
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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I blame my stupidity for not realising this YET!!!! buyandhold.com offers a trader UNLIMITED trades for only $14.99 a month!!!!!! nowww.. I could have easily saved $50 wihin these 10 days!!!!! well, am glad I found it out today! from now on, I shall be trading without any comissions and that should help me far better in terms of profitability!!!! GLTA!
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
yeah tex.. i still am.. .. not doing oennies these days.. moved on to big board stocks.. looks like they are lot more easier to trade with than the pennies especially in a busy work schedule as mine!
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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I blame my stupidity for not realising this YET!!!! buyandhold.com offers a trader UNLIMITED trades for only $14.99 a month!!!!!! nowww.. I could have easily saved $50 wihin these 10 days!!!!! well, am glad I found it out today! from now on, I shall be trading without any comissions and that should help me far better in terms of profitability!!!! GLTA!
I checked the site out and it looked like it was $15/trade for real time orders. Are you going to do automatic investments? Have you already started trading with them? Let us know how that goes and if Im reading this wrong.
posted
has to be a catch to it.. no brokerage would stay in business if they charged you only $14.99 per month and let you trade unlimited... I think Chevon is right and it is $15 per trade in real time...
-------------------- 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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quote:Originally posted by gagged_n_burried: yeah tex.. i still am.. .. not doing oennies these days.. moved on to big board stocks.. looks like they are lot more easier to trade with than the pennies especially in a busy work schedule as mine!
posted
Got out of GROW and TNB today after decent 3% gains each.. bought some VDSI at 12.00, and mrvc at 3.24. hope they see a good week ahead. holding for now zumz,vdsi,mrvc.
Chev/Mach.. I dont do realtime trades. I do window trades, which are charge only $14.99 unlimited trading monthly. In window trades, you are allowed to make a trade only at specific times, 10:00AM, 12:30 PM and 3:00 PM. also, you have no idea what precise price you would be buying/selling your stock at and are mercy of buyandhold broker.. now thats the disadvantage, but it can turn advantageous if you can predict the movemnt of stock very precisely. also, you should be in a position to hold the stock just long enough to atleast make 2-3% gains.
also, another restriction with buyandhold is that you are cofined to nasdaq/amex stocks (no otcbb or pinks).. and even in that, you cant purchase new ipo's like MA. if a stock has not traded for more than 3 years, then buyandhold does not allow you to purchase it! bottomline, it is a very cautious way to put money on a stock. gains are not explosive.. but they add on with patience IMO..
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
chevon.. I have had an account with them since 2003, but never actually traded with it! have been actively using it for past two months. and yes it is the unlimited investment plan for $14.99 a month for unlimited trades, as long as you do it in window trades!
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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quote:Originally posted by gagged_n_burried: chevon.. I have had an account with them since 2003, but never actually traded with it! have been actively using it for past two months. and yes it is $14.99 a month for unlimited trades, as long as you do it in window trades!
quote:Originally posted by gagged_n_burried: Got out of GROW and TNB today after decent 3% gains each.. bought some VDSI at 12.00, and mrvc at 3.24. hope they see a good week ahead. holding for now zumz,vdsi,mrvc.
Chev/Mach.. I dont do realtime trades. I do window trades, which are charge only $14.99 unlimited trading monthly. In window trades, you are allowed to make a trade only at specific times, 10:00AM, 12:30 PM and 3:00 PM. also, you have no idea what precise price you would be buying/selling your stock at and are mercy of buyandhold broker.. now thats the disadvantage, but it can turn advantageous if you can predict the movemnt of stock very precisely. also, you should be in a position to hold the stock just long enough to atleast make 2-3% gains.
also, another restriction with buyandhold is that you are cofined to nasdaq/amex stocks (no otcbb or pinks).. and even in that, you cant purchase new ipo's like MA. if a stock has not traded for more than 3 years, then buyandhold does not allow you to purchase it! bottomline, it is a very cautious way to put money on a stock. gains are not explosive.. but they add on with patience IMO..
There's your mistake. We cannot predict a stock's move "precisely". We can only make a educated guess. Remember the Market is right not you.
This brokerage sounds very disadvantageous. Can you put stop/losses on your positions? Can you at least sell off your positions with a Market order if the stock starts tanking? If not it sounds more for "investing" and not "trading". About the only good thing you told me about this firm is it stops you pink sheet junkies from buying cr*ap.
-------------------- 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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quote:Originally posted by gagged_n_burried: chevon.. I have had an account with them since 2003, but never actually traded with it! have been actively using it for past two months. and yes it is $14.99 a month for unlimited trades, as long as you do it in window trades!
lol...
please define "window trades."
He did Tex... scroll up...
-------------------- 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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quote:There's your mistake. We cannot predict a stock's move "precisely". We can only make a educated guess. Remember the Market is right not you.
This brokerage sounds very disadvantageous. Can you put stop/losses on your positions? Can you at least sell off your positions with a Market order if the stock starts tanking? If not it sounds more for "investing" and not "trading". About the only good thing you told me about this firm is it stops you pink sheet junkies from buying cr*ap. [/QB]
dead on mach.. we have no such great provisions such as stop loss, so on and so forth.. thats what restricts me from putting my money in a variety of stocks which might make big moves.. I use two filters as m main sources of finding out stocks.. make sure analysts have ranked the stock well, make sure the company has excellent profitable quarters and has provided good guidance for quarter and only then put my money in the stock.. seems like lot of work.. but not really since i play same stocks repeatedly based on their charts..
the two filters i use are.. Show stocks where close crossed above upper acceleration band(20)within the last 3 days and 55 day slope of EMA(55) is above 0 and 13 day slope of EMA(13) is above 0 and average volume(90)is above 50000 and draw IFT(5,9)draw ema(10)draw EMA(50)and close is below 50
close is above 0.75 60-day slope of close is above 0 Draw Williams %R(7) line at 0 sort column 8 ascending average volume(90)is above 30000 offset 0-days
posted
For me its almost $1000 a day. For you I can advise on something to double or make some good money on. just message me on yahoo messanger as "rich".
posted
dacollector.. I am taking it a little easy on pennies and I dont think I have enough capital ($100000) to make $1000 a day!.. so i guess I stay slow..
well.. zumz made nice upward move.. so did MRVC.. vdsi.. nothing much really happened out there!!! so its still wait time.. missed that zumz has got its earnings release today... guess I should have pulled out of it maybe and got some gt or aw! but well.. I shall just wait and see..
-------------------- Gagged n Burried!!! Posts: 135 | Registered: Aug 2006
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posted
I think I misread the title, o well. So how has your strategy been working for you gagged? It sounds like it works for you .Sometimes when I scan for stocks I look for undiscovered slow creepers. Look at OYDC, found it around 1.70's, now it $2.60+.
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