how do i figure out what is triggering this?

mute9003 said:
i went over my past trades and it seems like i manage to buy at very specific time almost every time.
Right before a massive dip
sometimes i manage to buy and sell at great times like exactly but very rarely

Bought this yesterday after watching the chart for few hours and it seemed to hold pretty flat almost all day.
So i placed a buy order for a lower price than support just in case it quick dips again like it did previously.

And this morning order goes through as it keeps falling down.
If i post my other charts most of them will look like that. Literally on the edge of a dip is when i manage to buy.
Obviously im reading the charts wrong.
But i dont know what im seeing here that is wrong.

Another order that went through is nile which also dipped
Im not really losing money but im losing time that i have tied into each trade that i have to ride out for a rebound...

I understand that this is part of learning thats why im not stressing out.
More...

I think you might by myopic on the chart. The chart "read" needs to be put into context. By itself, it tends to allow any interpretation that you can justify. And there are a lot.

I would suggest when you see a pattern of interest, go back and find it 2 or 3 times and see how it behaves. If it looks random check some more. If it looks consistent, then look some more.

On context, understand that instruments have many categories of behavior. That is why people say penny stocks are a trap. The pattern on a large or mega cap, do not translate consistently to penny stocks. It is typical someone see a mega cap doing xyz and then see a cheaper stock doing the same and think it will apply.

Likewise different time frames' patterns do not always translate either.

Lastly, you have to filter out noise. Noise will grind an otherwise sound strategy down to nothing or a loss.

Best of luck.
 
easymon has a valid point...penny stocks are a breeding ground for manipulation...learn to get on the other side of the obvious.
 
mute9003 said:
i went over my past trades and it seems like i manage to buy at very specific time almost every time.
Right before a massive dip
sometimes i manage to buy and sell at great times like exactly but very rarely

Bought this yesterday after watching the chart for few hours and it seemed to hold pretty flat almost all day.
So i placed a buy order for a lower price than support just in case it quick dips again like it did previously.

And this morning order goes through as it keeps falling down.
If i post my other charts most of them will look like that. Literally on the edge of a dip is when i manage to buy.
Obviously im reading the charts wrong.
But i dont know what im seeing here that is wrong.

Another order that went through is nile which also dipped
Im not really losing money but im losing time that i have tied into each trade that i have to ride out for a rebound...

I understand that this is part of learning thats why im not stressing out.
More...

Chartwise, highs indicated outburst of freaky movement, this movement to sell short of allowed.
Seldom after this pattern shows sideways action to buy.
I would look for long term, weeklies, trending up then smaller timeframe for buys
 
i see every day these stocks drop and rebound literally every single day
And try to trade one time and manage to pick the one that doesnt rebound...
I dont even look at any stocks above 5 dollars so im not really translating any moves from normal stocks to penny stocks
I like penny stocks i think there is potential thats why i want to learn how to trade them
And im well aware of manipulation and the fact that i will get my ass handed to me many times while im learning
 
I was trying to get in on a possible rebound for a quick trade.
this was not planned as a long trade

I looked at the market it was green yesterday throufhout the day and at closing
And in the past few weeks first green day usually held up for few days after
but this time it didnt
 
mute9003 said:
i went over my past trades and it seems like i manage to buy at very specific time almost every time.
Right before a massive dip
sometimes i manage to buy and sell at great times like exactly but very rarely

Bought this yesterday after watching the chart for few hours and it seemed to hold pretty flat almost all day.
So i placed a buy order for a lower price than support just in case it quick dips again like it did previously.

And this morning order goes through as it keeps falling down.
If i post my other charts most of them will look like that. Literally on the edge of a dip is when i manage to buy.
Obviously im reading the charts wrong.
But i dont know what im seeing here that is wrong.

Another order that went through is nile which also dipped
Im not really losing money but im losing time that i have tied into each trade that i have to ride out for a rebound...

I understand that this is part of learning thats why im not stressing out.
More...
This is a good example those learning to read charts. There was a large fall followed by a tight range. You have to look at the whole picture because that fall is firmly in the minds of your fellow traders and will effect their thinking. The general tendency is for the market to continue in the same direction after a time. It's easy to think that the move is over because it went flat, but its the time to find a price where you want to go short. It went flat most likely because nobody wants to short a market right after a fall. You wait for the market to go higher so you get a better price. As it becomes more likely that it's not going higher a few brave souls will "sell it in the hole" as the saying goes. Then everyone piles in. As you gain more screen time you will see this quite often. The danger is that you will go looking for this situation and you will see it when it's not there. Good luck.
 
easymon1 said:
After scanning your DPW thread the question comes to mind to ask if you want to master the pump and dump sandbox?
Would you like to be an acomplished player in pump and dump land or would there be some other aspect of trading that would appeal to you more?
More...

until recently i had good results with dpw it was my most profitable stock. Until the end of last year.
I keep trying to trade it now but keep getting in at the wrong times now.

But overall i do want to learn to trade penny stocks
At least until i grow my account more.
I tried trading more expensive stocks 15-30 dollars and ended up losing more per trade because a penny stock under a dollar can only go down few cents per share
A 30 dollar stock can cost me 29 dollar loss per share.look at netflix. Thats more than 100 per share loss
 
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