3SOF

The place where you can fling things at me..  like questions.

or where we can discuss
EliteG Infinite Compound Project II: Prototype Portfolio
(http://www.3stocksonfire.org/trading/index.php?topic=3836.0). 

Your choice. 

Cool G... nice to see you back.
Looks like I'll be honored as the first one to ask questions in the Compound II.
So I have two questions right away:

1. You said you'll set stopp loss right after you buy a stock. Can you set stop loss on an OTC stock? I'm asking since I use Ameritrade and they don't allow stop loss on OTC stocks.
2. I'm in STTK @ .66 and today it closed nicely at .80. So far there's no visible resistance in the chart. Your take?

Good luck G! I look forward to watching you in action. Just don't pick any stinkers like ERI, ok!

Rock and roll, G!  Let the picks begin!

Quote from: OneStockMind on November 29, 2005, 01:37:33 AM
Cool G... nice to see you back.
Looks like I'll be honored as the first one to ask questions in the Compound II.
So I have two questions right away:

1. You said you'll set stopp loss right after you buy a stock. Can you set stop loss on an OTC stock? I'm asking since I use Ameritrade and they don't allow stop loss on OTC stocks.
2. I'm in STTK @ .66 and today it closed nicely at .80. So far there's no visible resistance in the chart. Your take?

Hey OneStock thx.

1. I believe that I can set-up a stop loss on OTC but I do not because I think I would get murdered on the exectution.  So I setup a mental stop-loss.
2. Awesome play on STTK!  Man you have to go pre-1999 to find resistance.. I would say now you have to use psych levels like 1, 1.25,1.50 unless you can put a valuation on the company.  That maribozu(open at low closed at high) candle type in this position is supposed to be very bullish.  Goodluck.

Quote from: Lucas Scott on November 29, 2005, 03:34:22 AM
Good luck G! I look forward to watching you in action. Just don't pick any stinkers like ERI, ok!

Wait a second.. you're telling me it wasn't a shorting contest?    thx lucas  and way to kick everybody's ass in the contest.. we will meet you after school... come alone.

Quote from: basonista on November 29, 2005, 07:03:17 AM
Rock and roll, G!  Let the picks begin!

thx bas, lets kick it. 

You cannot set stops on stocks under a buck with Scottrade.

From what I have heard, you can use the trade trigger feature with Ameritrade to set stops/buys.  The trade trigger is not an order, it is internal to Ameritrade.  An order is not placed until the 'trigger' is hit.  This is really good because the MM's can't see your order until your criteria are fulfilled.  Maybe somebody that has used them can comment further here.

I have not had good luck setting stop limits, they always seem to get taken out when I use them.  My best luck with stops has been to set them a couple of cents below the most recent low.  I have used trailing stops with success.  Although trailing stops protect you, they are not based on any technical criteria, some folks (like David Randolph) don't like them for that reason.

Mental stops are great but only work if you can watch the stock intraday.  I don't have that luxury so I have to be very careful with penny stocks.  I am VERY quick to take profits on pennies.  I have learned the hard way.  Uhhh, it seems that lesson comes back around often.  Sort of like the old "deja vu all over again" redundance cliche.

Hey G, missed your posts, glad to see you back. All the best with the new challenge.

uc.

Welcome back elite!
i am thrilled to see u back! 
getting killed by the market since u been gone, need your wisdom to keep my head straight 
Good luck! i will be watching ...

Hasn't been the same without you Elite!

Glad to finally see you're back!

Now a question, eg. when u buy SUWN, $5000 worth...what minimum percentage increase are u expecting. Because, I don't buy that much of anything...ever...probably the maximum is $500 and then then i pay commission $29 each way. So, my question is...can someone who plays the amount that I do...play your picks?

thanks!!!

julia

I applaud you again eliteg
Good to see you back. Missed you're post and like trying to learn chart reading from you're post. Have also made some return on a few picks. Keep up the excellant work. You're much appreciated.

Hey elite
One of you're picks PRFT is listed on nasdaqNM. Do you also trade after hours. Reason I ask is on Scottrade you can trade after hours but only with stocks listed on NasdaqNM.
Have a great day

Quote from: usedcasting on November 29, 2005, 10:08:24 AM
Hey G, missed your posts, glad to see you back. All the best with the new challenge.

uc.

thx uc 

Quote from: eagerlearner on November 29, 2005, 10:17:43 AM
Welcome back elite!
i am thrilled to see u back!
getting killed by the market since u been gone, need your wisdom to keep my head straight
Good luck! i will be watching ...

thx eags  lets make some of the green. 

Quote from: gmarc66 on November 29, 2005, 10:40:47 AM
Hasn't been the same without you Elite!

Glad to finally see you're back!

Now a question, eg. when u buy SUWN, $5000 worth...what minimum percentage increase are u expecting. Because, I don't buy that much of anything...ever...probably the maximum is $500 and then then i pay commission $29 each way. So, my question is...can someone who plays the amount that I do...play your picks?

thanks!!!

julia

thx julia 

hmm a very good question... I seperate the positions in terms of potential profit according to their price.  The lower the price the higher and quicker the profit(but I do not think the pennies will setup very often).  But generally I see potential for 100% in my picks.  So if you are happy with that  then it should be fine for the amount you would like to play with.  How much I take off the table we shall see.. because as you know I'm a notorious early profit taker(tryin to fix it  )

Quote from: wrangler on November 29, 2005, 10:48:23 AM
I applaud you again eliteg
Good to see you back. Missed you're post and like trying to learn chart reading from you're post. Have also made some return on a few picks. Keep up the excellant work. You're much appreciated.

thx wrangler... great to hear that you brought home the money on some picks..very cool 

Quote from: wrangler on November 29, 2005, 11:01:04 AM
Hey elite
One of you're picks PRFT is listed on nasdaqNM. Do you also trade after hours. Reason I ask is on Scottrade you can trade after hours but only with stocks listed on NasdaqNM.
Have a great day

I have traded pre-market and after hours but very rarely.  If a pick is up an enormous amount in pre or post market I may take half profits but I doubt we'll see that.  You have a great day too 

Elite, nice to see the fingers fully functional again...

I am also a 'notorious early profit taker'. and speaking of that...cashed out most of my trading shares of GTE today at $3.50... it was looking way overbought to me.  Well, time to payoff my truck !  Looking to get some of them back if it settles down.

It must be nice to able to spend your time full-time on stocks.  I know I would love it...  I'll be following your threads.  Good Luck !!!

Quote from: eliteG on November 29, 2005, 01:16:12 AM
The place where you can fling things at me..  like questions.

or where we can discuss
EliteG Infinite Compound Project II: Prototype Portfolio
(http://www.3stocksonfire.org/trading/index.php?topic=3836.0). 

Your choice. 

welcome back to the jungle eliteG !
looking forward to this board communication.
cheers
Oliver

AAARRRGGGHHHH!!!!!

This is the second time I don't listen to my instinct!!! I was almost 30% up on STTK and saw how it's getting top-heavy around .87 and didn't get out.
Nothing shoots straight up like this stock and it needs a correction. Now I got one and missed on profit!
@#%!$^#