DNDN- $6.49 turned out to be the resistence, not going to play it anymore, too weak, cannot borrow shares to short either.
Making $5K with $20K each month
- Thread starter PennyTrader
- Start date
A struggling day just as the market. Had a very nice gain on flipping DNDN, but gave back $200 on the stop from 6.40s to 6.30s. Tried to play OPBL's bounce at 0.50, instead, sold for a loss before the market close, don't want to hold this bag overnight.
I hope everyone is doing better than me. Tomorrow is another day, hope to find some better ones to play.
I hope everyone is doing better than me. Tomorrow is another day, hope to find some better ones to play.
Your good honestly I dont know hoe you managed to find a profit today the markets were going sideways for the most part good job man
PT, I have been watching and trading half a dozen solar related stocks for the last 6 months, and found there are obvious manipulation by large money (e.g., CSIQ, ESLR, FSLR, SOLF, JASO; but except for STP and TSL). Be careful with this one. I would suggest get in in the morning and out before market close. It is not that safe holding overnight. But good luck though, hope it will make your week.
Obvious prediction
You will lose close to all of your money
and your friends too
This is like watching someone slit their own throat at a rate of 1 mm per day :eek:
You will lose close to all of your money
and your friends too
This is like watching someone slit their own throat at a rate of 1 mm per day :eek:
About 6-7 years ago I turned 5000 dollars into 56000 within a year by daytrading CSCO. Just daytrading CSCO. For an entire year, I lived, breathed and ate CSCO.
One of these days I might go back to just doing that. Well, the spreads were a little bigger back then but the concept is still there. You can make a lot of money by studying the price action of a widely traded stock like CSCO and make that pile a little bigger each day.
Its not impossible. You never see anyone on here promote such a strategy...thats because its a boring strategy at that. Imagine looking at the CSCO ticker everyday for a year all day long. Not exciting. The exciting part came when I looked at my account
Your trades are high-risk and unnecasary. I bet someone who uses a widely traded stock or ultraetf will yield better results within a year.
One of these days I might go back to just doing that. Well, the spreads were a little bigger back then but the concept is still there. You can make a lot of money by studying the price action of a widely traded stock like CSCO and make that pile a little bigger each day.
Its not impossible. You never see anyone on here promote such a strategy...thats because its a boring strategy at that. Imagine looking at the CSCO ticker everyday for a year all day long. Not exciting. The exciting part came when I looked at my account
Your trades are high-risk and unnecasary. I bet someone who uses a widely traded stock or ultraetf will yield better results within a year.
PT has done very well actually using tips, based on my observation from this journal, the good trades are all closed by the end of the day; CEGE and TUBR are two examples, which are, if not closed by the end of the day, can see large gap down/up the next morning.
Since I live on the west coast, and need to get up at 6am to prepare for the market, I do not enjoy pre-market gap downs--cannot get up even earlier. Maybe PT can avoid that by monitoring both after-market and pre-market tradings.
Since I live on the west coast, and need to get up at 6am to prepare for the market, I do not enjoy pre-market gap downs--cannot get up even earlier. Maybe PT can avoid that by monitoring both after-market and pre-market tradings.
so why do you need to come to ET, of all places on Earth.really? high risk?
he has a tight stop on every trade. he lets his winners run a bit, then takes the winnings.
so he:
1) has good risk parameters
2) has a high % of winning trades
3) has winners > losers.
that's *all* that is necessary to be a successful trader. some good traders can get by with just 2 of those 3 traits.
most people can NOT do that. some very good traders do limit their world to a few individual (usually NYSE) stocks, and make good money.
but...so what?
1) who cares if someone can yield 'better' results? he's doing something he's comfortable with, which works. it's not a competition to do better than the best of the best.
2) as you note, spreads have tightened. CSCO was from 45-85 for the year 2000 with an average range of (eyeballing) 3. past year? 17-29, with an average range of (eyeballing again) less than 50c. some strategies which worked great then are no longer valid.
3) there are SOME people who can do it successfully - few and far between. if it was so easy, everyone - or YOU - would be doing it. repeatedly. that 5K -> 56K then is probably equivalent to 5K ->10K now.