Stock Market
- Thread starter NemesisX
- Start date
I don't trade penny stocks since they're usually very risky; although I'd be very happy right now if had I picked up some of those chinese internet stocks last year (SOHU, CHINA).true said:Doesn't anyone trade penny stocks here?I just bought a bunch of ERHC....anyone have an opinion? I'm sure that google IPO will do just great. Awesome company.
A quick scan brought back some penny stocks that may be decent buys if the market continues higher. These are NOT recommendations. I only took a quick glance at them after your post so do your research on these if you're looking to buy:
RBAKQ -> I would place my stop at $0.20 if I bought this.
AND -> I think this will come down a bit and then continue up.
SRG
Steve might be able to provide some more info here. I don't even trade stocks, LOL
-Awais
O-Ace said:
Steve might be able to provide some more info here. I don't even trade stocks, LOL
-Awais
I try to stay away from penny stocks too. Very risky. Although I did make a bucket full of money on SIRI when it went to .54 I bought 7500 shares that I sold later for greater than 2 bucks. Thank you Lehman for flooding the market with that one. I also did trade a few penny stocks in 99-00 because the money to be made was "too good to be true".
. The only "penny stock I hold now is CMGI and I will dump that before the end of this year to offset gains a bit.
O-Ace said:Another reason I got pulled into trading the S&Ps
-Awais
I got started thru my brother showing me the ropes....I like it because of the freedom to be my own boss, the challenge and the things I have learned about the economy.
Dislikes are.....cant date employees (have none!
),commute is a nightmare
,Cant use the old "I was tied up a work" excuse with the wife to go see my girlfriend!!!
JOKING dear!!!!
Anyone going to the trading expo in Vegas this week?
-Awais
-Awais
O-Ace said:
I guess not.....
How is everyones trading (or investing going this week?)
I'm taking a break from trading. Will trade the first two weeks in December...then a 3 week vacation and back into it again in mid-JanuaryNowSeeX's said:
On a side-note...when people first start trading, they generally lose a certain amount of capital and write it off to "education". Did you guys have a similar experience? How much did you initially lose and how long did it take to get consistent?
-Awais
I played Yahoos dream 100k trade a few times first. I also used a few sites that allowed me to run a trial portfolio without using actual money. I did lose some money at first but not a lot. In 99-00 I lost a ton in my IRA, as Ace and I have discussed by PM. I did how ever take most money out of my trading account before the bubble burst. I held on to CMGI which was a big learning experience. Actually I tried to buy CMGI on the way down. Catch a falling Knife they say, I totally missed the handle.
Sorry, I forgot to post how my week was.....
friday-monday: 40points - S&P
tuesday: - 3 points - Emini
wednesday: 0 points
thursday: 0 so far...no trades...
My "education" was about 30-40k.....and im still getting an "education" every now and then!!!!!
Congrats Steveny!!! love to see more pluses than minuses!!!
friday-monday: 40points - S&P
tuesday: - 3 points - Emini
wednesday: 0 points
thursday: 0 so far...no trades...
My "education" was about 30-40k.....and im still getting an "education" every now and then!!!!!
Congrats Steveny!!! love to see more pluses than minuses!!!
I'm assuming the 40 S&P pts was due to multiple contracts? Great job man!NowSeeX's said:Sorry, I forgot to post how my week was.....
friday-monday: 40points - S&P
...
My "education" was about 30-40k.....and im still getting an "education" every now and then!!!!!
$30-40K...makes my "education" so far look pretty cheap
-Awais
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O-Ace,
I had multiple contracts. Believe me...the two weeks before, (much less the two months before)have been a nice NIGHTMARE!!!! (never trade with other crap going on in your life)!
Steveny, sorry to hear about your IRA and CGMI. I know what it is trying to catch that knife... might as well do it with your teeth...same result (PAIN)!!!
O-Ace......How much was your "education"??? (im afraid to ask)
If its over 6 figures, just tell yourself you deserved the HARVARD education...nothing less will do for you!
I had multiple contracts. Believe me...the two weeks before, (much less the two months before)have been a nice NIGHTMARE!!!! (never trade with other crap going on in your life)!
Steveny, sorry to hear about your IRA and CGMI. I know what it is trying to catch that knife... might as well do it with your teeth...same result (PAIN)!!!
O-Ace......How much was your "education"??? (im afraid to ask)
If its over 6 figures, just tell yourself you deserved the HARVARD education...nothing less will do for you!
Sorry...guess I didn't word it right. I meant my education is pretty cheap compared to your 30-40K. My total loss in the markets (stocks/options/futures/eurex) including commission is less than $3K (so far). This is after hundreds of trades and is mostly just commission so it's not too bad.NowSeeX's said:O-Ace......How much was your "education"??? (im afraid to ask)
If its over 6 figures, just tell yourself you deserved the HARVARD education...nothing less will do for you!
How much time did it take you to get consistent in the S&Ps?
O-Ace said:
Ive been pretty consistent for about a year now. Thats when I learned patience....Trading before that was very inconsistent for me because I felt that I always had to be in the market...and then would get my stops hit because of whipsaws. Now I pick the points to get in. This is also why I dont daytrade because I dont confine myself to time. When I was daytrading, I would get in and out much more and felt like I had to trade that day. Now I trade when the time is right!
I finished down -3 points on the emini (-$150)....
Im lucky I got out when I did....I bought right when the market when into a nosedive!!!! Even waiting 5 minutes would have been much worse!
What pisses me off is my target position never got hit on the upside to short the thing and it left without me....closing at the low, leaving me to ponder about whether or not a nice gap opening will await me in the morning.....
O-Ace, this is one of those times where Im NOT getting in for the possibility of the gap.
My thoughts on tomorrow...
Either gaps lower then retraces.....
or retraces and the day looks ugly from there.......
Either way, I dont think Friday or Monday will be too pleasant.
These are strickly my thoughts and can and do change at anytime!......Patent pending, patent pending...Do not follow me, im LOST!
PS...If im right, dont call me a guru. If im wrong, dont call me at all!!
...and dont even think im giving out advice, this is just for fun!
Anyone else?
Im lucky I got out when I did....I bought right when the market when into a nosedive!!!! Even waiting 5 minutes would have been much worse!
What pisses me off is my target position never got hit on the upside to short the thing and it left without me....closing at the low, leaving me to ponder about whether or not a nice gap opening will await me in the morning.....
O-Ace, this is one of those times where Im NOT getting in for the possibility of the gap.
My thoughts on tomorrow...
Either gaps lower then retraces.....
or retraces and the day looks ugly from there.......
Either way, I dont think Friday or Monday will be too pleasant.
These are strickly my thoughts and can and do change at anytime!......Patent pending, patent pending...Do not follow me, im LOST!
PS...If im right, dont call me a guru. If im wrong, dont call me at all!!
...and dont even think im giving out advice, this is just for fun!
Anyone else?
I know some people who bought the HOD and sold the LOD...I'd say you did alright since you cut your loss short (3 pts).NowSeeX's said:
1045 was a very obvious Shorting opportunity in my opinion. Here are a few reasons:
1. Pivot around 1046 hit, but not broken
2. Doji on 60 min. chart at 13:00
3. Up-move on declining volume
Btw...I shorted 1036.25 early this morning after the 1036.50 overnight high was made and couldn't be broken, but got out with only a point. This was just for the hell of it since I was up early...normally, I don't touch ES overnight or early AM unless some economic news is being released.
-Awais
Isn't triple witching at the end of next month (Dec. expiration)?steveny said:
Congrats on that point O-Ace...definatly better than loosing a point or two...
Now why didnt you tell me about shorting at 1046??
I saw it too but waited for more of a price divergence against the high a couple days ago....and for my price target to get hit.
Now why didnt you tell me about shorting at 1046??
I saw it too but waited for more of a price divergence against the high a couple days ago....and for my price target to get hit.
I can see that view as well...on the 60 min. I believe the previous high was around 1047ish...so you might have been looking for 1047 as a target to exit long and reverse.NowSeeX's said:
Btw...you ever check your PMs? I sent you one a few days ago and you still haven't read it
-Awais
Since we're on the subject of trading, might as well throw a few more questions into the mix: what charting platform and broker are you guys using?
I had Tradestation 4.0 and Esignal but my TS is so old they dont support the datafeed to it...So right now im using Esignal but looking to upgrade in the very near future. For Brokerage Zapfutures...expensive but I dont have ANY problems with them...(learned that lesson!)
Sorry...I will look at my PMs now
What do you use?
Sorry...I will look at my PMs now
What do you use?
ESignal for charting. Broker is Interactive Brokers for now. Might switch to an exclusive futures trading firm next year to get better commissions and a more powerful platform (X Trader from TT).NowSeeX's said:
-Awais
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