posted
okay I went thru alot of the noobie stuff from tex, anyway i HAVE AN E-TRADE ACCOUNT, I have not used it yet (tied my hands behind my back-LOL) so anyway I went onto microcap feed screen and following the advice of some guy who explained how to use it, I was comming up with lots of stuff, but with my limited knowledge Ive kept it very simple, so I was looking for heavy volume, good gain, so boom a nice list comes up & CPKL stand out with a huge volume of 59,592,517 $volume=58,585, Trades-203 on the 21st it opened at .0003 and closed at 0.0016 chart said 700.0% change, so the I looked at the 2 month chart and all the way back 4 years (to long for me-LOL), so now on my E-trade account I look at the 3 day chart thru 1 month,, trying to look for any patterns and maybe spot a trend up or down using lines (im practicing that) anyway im not knowelegable to explain what I think quite yet, so in simple terms I have seen a trend down the last 2 months from .01 to a basic flat line this month with a huge spike in volume on the 21st, Im trying to learn good entrys points to make a slight profit (hit & run for me) and then get out, if I was to do this, I think I would get in friday (if market is open) ask=0.0016, 60,000 shares, stop loss=0.0013, sell at .0019, giving me a real small profit over the commision, since this would be my 1st real buy I just want to do about $100 =/- I noticed after I picked this that someone posted the stock on the penny board, so I gotta be somewhat making an improvement-LOL anyway Im at about 40% understanding MACD, RSI and the other signals, each day its making more since, So is this a good point for me to enter this stock?? Am I dead wrong and should run away?? I found no recent news to explain the sudden volume (Is this a play by the MMs to get me in, then they lower the ask price, giving me aloss) Okay now fire away the advice, I can handle it, I gotta & Im trying hard to learn this thanks guys
Posts: 189 | Registered: Nov 2007
| IP: Logged |
posted
oh on a side not to the above, my full time job makes this trading very hard for me, I have to put my buy in before market opens, then Im home about 30 mins befor market close, so I miss alot during the day, so Im really trying to figure these candle charts out to make good entry points, I know alot of you do not hang onto these overnight, but I dont think im gonna have much choice there-LOL
PS have a great TURKEY day and good luck on your trades
Posts: 189 | Registered: Nov 2007
| IP: Logged |
posted
Hi Tex, yes on paper Ive been doing that, I havent made a purchase on E-Trade yet, Im thinking this might be the one to get my feet wet, I know I cant do a trailing stop order since im on penny stocks, But I think I can put a buy order in for "good for the day" & turn right around and put a stop limit order "good for the day for a few cents less, just in case it goes down so whats your view on my thought selection for this stock
Posts: 189 | Registered: Nov 2007
| IP: Logged |
posted
I think this is a tough one to chart, due to the sudden volume and previous low pps. A gap up on Friday -- a short trading day -- is not out of the question...which leaves you chasing. Very hard to determine resistance/support, plus with these that run from .000 levels...you have to think carefully about other traders' exit strategies...eg, anyone was holding from .0003 had their first double at .006.
Quite difficult to trade without being there...You would have to hit your buy, and set a stop for whatever percentage you're willing to risk, instead of setting a stop at, say, a 50-day support. In other words, TA not so much help here; you need to know what's driving this, and this *is* a pink with little company info available, from what I can quickly tell. As far as risking only a small amount? That would definitely be in order... first rule: Protect Capital.
posted
well I avoided my emoitions and decided to use this short stock day to watch and learn, on paper I bought CPKL at .0016, I have to admit it was fun to watch the level 2, which brought up some questions (save for another day-LOL) anyway at 11:56:49 I would of sold (or at least put a sell order in) and got out at .0018, giving me just under $15.00 profit-LOL, but hey I learned alittle watching the level 2s, and I resited using my account, I have all weekend to study some charts and work on my E-trade stock screener, which Im pulling hair out of my head right now-LOL Hope you guys did good today
Posts: 189 | Registered: Nov 2007
| IP: Logged |
posted
yep, opened at .0016 and I think about 25min into trading on the 3rd trade it jumped to .002, but it was early and I figured it would pull back some, which it did and close to noon is when I did my paper exit, of course it went back up, but at this stage of my learning I will be happy with any profit over a loss-LOL, I think monday will be the day I get my feet wet in something, I got all weekend to look at & study charts, wish me luck-LOL
Posts: 189 | Registered: Nov 2007
| IP: Logged |
Closed Thursday at .0016, opened Friday with a big gap up at .0025, as anticipated. Is called a "gap n trap," cuz those who hit that pps or the quick run after get trapped when it falls back down. Gotta watch those gaps...
One technique is to buy the day before...Thursday in this case...right before close when you the opportunity. Then sell into the gap...especially if it gets a little run.
posted
Hi Tex, that gap must of been quick, I was sure it opened at .0016, anyway Im gonna print that chart and study the candles, so I can identify that signal in the future
Hope you had a good turkey day
Posts: 189 | Registered: Nov 2007
| IP: Logged |
quote:Originally posted by biker0962: Hi Tex, that gap must of been quick, I was sure it opened at .0016, anyway Im gonna print that chart and study the candles, so I can identify that signal in the future
Hope you had a good turkey day
Charts say I'm off a little...let's do this:
Call up bigcharts.com, enter ticker and click on "Interactive Trading." Will take a bit to load (if you haven't done so already, kill Microsoft java kernel and install the Sun java, btw).
Once the chart loads, you can mouse your cursor to top left of the chart, click and drag a "box" to highlight, say, the first two hours.
You can see the open at .002, sprint to .0026, then the fall. Anyone in from the previous day could get out fairly easy around .0024, maybe even .0025. Good play.
A safe play is to avoid the plunge at open, wait for the drop to .0016 then buy on an uptick--ie, wait for momo to confirm trader interest. Then on way back up, sell at .0022...quick 20% & you haven't risked getting trapped at .0023, .0024
posted
yeah I just happened to be off on friday, if I was able to moniter my trades during the day that would be great, but next week I gotta do it the hard way, still havent decided on a stock to get my feet wet, but FKLT is still at the top of my list, ive narrowed the search down to 3 others but im doing what you guys call DD-LOL keep seeing things and then going to the books and the internet to look things up to see if my interpitations are good, I might get 1 stock this week and do some research based on how I do, if I do bad, I can research to see what went wrong, and if I do good, I can see if there was a way that I could of done better, I got all the time in the world-LOL
Posts: 189 | Registered: Nov 2007
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
