Beginner Stock Trader - Strategy + Help Request

K

kbrown84

Hello all,

I am a fairly new investor and looking to do some active trading. My main portfolio isn't doing great (very heavily invested in marijuana industry because I believe it will skyrocket, yet my stocks aren't skyrocketing! LoL)

I want to try to do some 'penny stock' gambling and want to have a fairly simple strategy and am open to criticism, help, suggestions, and maybe some help fine tuning my search screener.

My simplistic goal:
Use a screener (e.g. finviz) and search for pre-market news from companies with a low float.
Buy stock on the market open on the strengh of the news, and hope that due to positive news + low float that we have an upward tick in the stock...then sell.

Too simple?

Also, could use some help adjusting my screener. I tend to get too many results and makes it difficult to search for the pre-market news.

-Kyle
 
kbrown84 said:
Hello all,

I am a fairly new investor and looking to do some active trading. My main portfolio isn't doing great (very heavily invested in marijuana industry because I believe it will skyrocket, yet my stocks aren't skyrocketing! LoL)

I want to try to do some 'penny stock' gambling and want to have a fairly simple strategy and am open to criticism, help, suggestions, and maybe some help fine tuning my search screener.

My simplistic goal:
Use a screener (e.g. finviz) and search for pre-market news from companies with a low float.
Buy stock on the market open on the strengh of the news, and hope that due to positive news + low float that we have an upward tick in the stock...then sell.

Too simple?

Also, could use some help adjusting my screener. I tend to get too many results and makes it difficult to search for the pre-market news.

-Kyle
More...

Owning marijuana stocks is an investment...not suitable for trading until all the regulations, laws, bylaws or whatever have settled. Yet, if you prefer gambling...save your money and go to any nearby casino or spend it all on the lottery.

Trying to trade the marijuana stocks or penny stocks is just gambling. Also, stay away from penny stocks especially at this forum that prohibits penny stock discussion. If you don't believe me...contact the moderators about penny stock discussion at this forum.

Found the next hot stock? How about a ripe shorting opportunity? Here's where you can post your thoughts on specific listed companies. No penny stocks.

The above is the current rule and I've seen traders in the past have their message posts deleted whenever they had penny stock discussions.

wrbtrader
 
kbrown84 said:
Buy stock on the market open on the strengh of the news
More...
the market almost always know long before that the company is doing well-insiders and those who love close to the company will know long before you do- so always check if the stock has run up in the near past
 
kbrown84 said:
looking to do some active trading.
More...
i used to trade in stocks for 2 decades and found-not surprisingly- that you really have to a lot of hard work to find opportunities and to find good opportunities, is fairly rare especially for active trading since all news is spread so fast that everyone is aware of it within a minute thanks to social media and Internet and think or conclude they can make money out of this.

This is naive because someone has to lose for them to make money and not many people, are in the markets, who lose.

This is also a golden opportunity for the big boys to fade the news and make hay out of the retail stupidity, with they do with ruthless efficiency : wait for retail to enter and dream of riches and then take the other side of the transaction.
The only advantage for retail is that the big boys need them to take the other side of the transaction and so they have to tempt the retail with 'messages' to buy or sell, as the case may be, and if you can understand these messages then you can do exactly the opposite of what the big boys want you to do.
 
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wrbtrader said:
.save your money and go to any nearby casino or spend it all on the lottery.
More...
and you will have more fun for your buck: you can have all the liquor food and girls [you only have to grab what you like] while you wait for the result.
I am only trading forex because gambling is banned in my country...no casinos:(
 
kbrown84 said:
looking to do some active trading.
More...
you say you want to trade but your modus operandi is that of a speculator.Please understand the meaning of trading
if you are a trader you should wait for the confirmation of the effect of news and then look for an entry. stocks do not always react to the news the way they are logically supposed to.It does not matter....once a move starts it continues for long enough for you to a trading profit.Trading will not make you billions-a grocery shop owner in a good or proper location will not make billions but he will make decent living provided he is not greedy and is financially disciplined,not a spend shrift and does not take loans to buy luxury cars.
 
kbrown84 said:
My simplistic goal:
Use a screener (e.g. finviz) and search for pre-market news from companies with a low float.
Buy stock on the market open on the strengh of the news, and hope that due to positive news + low float that we have an upward tick in the stock...then sell.

Too simple?

Also, could use some help adjusting my screener. I tend to get too many results and makes it difficult to search for the pre-market news.

-Kyle
More...
Hard to say if it is too simple.

What is your exit strategy when the trade moves against you?

Why are you looking for a low float?

Every bit of news you get on Finviz is old news. Also news tend to give you a bias that will cause you to ignore what the market is telling you.

Penny stocks will kill you with the spread.

What are you screening for now?
 
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