The Game: Taking $3500 and some Risk to $15000

[nullzero]

I was about to say the same your trade amount is to small, the comm. will eat you alive. I would go all or nothing and aim for +5% moves. That way you will pocket +160 dollars a trade if it goes your way. Trade with a 10% stop loss?

[dwest718]

I only had $300 to put in this morning.  I am waiting for some assets to be transferred from another account and then I will have a bit more.  As you see "unavailable cash" is $3000.  I should have that by August 1.  Then I will cycle by buying 2 stocks at a time at around $1200 a piece and selling for whatever profit I see fit  .  I just wanted to get into DDDC this morning because I think I see a pretty easy 25% and that will serve as the money to pay for the commission for 10 of my trades 

I know small positions are bad... but that's all I could do this morning.  Normally I wait until I have at least $700 to put into a stock.

[Terliso]

Dwest,
 
     You can achieved $3500 to $15000 very easily. trade all $3500 in penny stocks no diversification, that amount of money is way too small to diversify.

If you just folllowed the WWEN.pk thread this morning your $3,500 could turned $6,200 in a day, that's 80% profits in a single trade.

But trading in OTCBB exchange will need some extra cautions, I suggest trade penny stocks only when moving averages (50sma, 200sma, 200ema) are below the price.

I've been making tons of money recently in penny stocks... FHAL, PAIM, PAIV, & I'm currently gaining 96.42% in WWEN.pk... thanks to Lalitha
Penny stock in my watchlist tomorrow is EVSC.ob

Good luck on ur journey!!

[hermanpu]

don't let 7$ each way fool you, once you pull the trigger, you're going to give the broker 14$ no matter what, yes even when the stock goes down.

I started with 8000$ and I've made about 50 trades within 6 months with Ameritrade at 10.99$ per trade (now 9.99). Thats $549.50, thats about 7% of my money used on commissions. So even if i net 7% for the 6 months (average for most mutual funds), I have only broke even.

You will be week trading so thats about 40 round trip trades (80 single trip) if you buy 2 stocks each week and sell them at the end of the week until New Years (5 months). 80 trades x 7$ per trade= $560. Which is 15% of your money if you invest with $3700. Most professional traders would be happy to make 15% in 5 months, which is about 36% a year. To reach your goal of $15000 after subtracting $560 in commissions, you'll need to gain 420%.

Yes, i know it'll go up faster once you make more, but if you lose on some early on, that 420% goes up way higher also. I'm not trying to bash your goal or anything, its a lot better than $50,000 but maybe still unrealistic. I would love to see you hit 15000$ and I'll be watching your progress and maybe pick up on a few of those week trades myself. Most people come into investing with high hopes, so did I. Just remember to set tight stops to minimize your risk, I've gotten burned really bad by not doing it.

Terliso's suggestion is probably the best, which is buying volatile penny stocks which go up 100%+ in a day, remember to get out early because the liquidity and execution for penny stocks is very poor. Really big volume is always a good final indicator that a stock is "safe" enough to buy into and get out in one piece. http://www.microcaptrade.com/ind/index.html is a good place to go, on the front page it displays the top volume stocks, play the ones that are going up (but not if it has been going up for more than a day or two. For stocks with A LOT of momentum, use the 3 day rule just to be safe.), don't try to catch the ones falling down because they fall hard.

Good luck and may the force be with you

Disclaimer: Everything i just said is my opinion, i am new at trading, words that come out of my mouth are wrong a lot of times. My calculations are based on my own numbers and probably erroneous, i was never good at math

[dwest718]

Came up with another $100 or so... so updating my portfolio information and then posting and "updated" list of stocks... still havn't done much extra research but I've got a free day tomorrow and the weekend is coming so I should be able to put in 10-15 hrs and figure out a screener I like a little better.  Well here goes.

ST:
CAMD
ARNA
AMKR*
SWIR
BWNG
BGO
CAAS

MT:
AVNX
DRTE
DVSA
CCOI
CNXT
KRY
CYTO*
EFJI
EMIS
BKHM
BCGI
ANDS

LT:
DSCO

?:
CTLM
CPWR
DDDC
CCUR
CNCT

The starred ones are the ones I'm looking at hardest.  I already have a position in CYTO in another porfolio and it's looking good here... AMKR had a monster day today with great volume and a great candle/chart formation.  Don't have time to post the chart though.

And for the portfolio:

Available cash: $155.20

Open positions: $752.10
- 120 DDDC @ 2.05 (Stop @ 1.86)
- 30 SWIR @ 16.87 (Stop @ 15.80)

Unavailable cash: $3000

Total: $3907.30 (Start value = $3856.30)

Up 1.3%  YTD

Stop on SWIR moved just in case negative earnings report... not sure it'll help any but it'll still be there.

Moved my stop up to 1.86 from 1.82 for DDDC because I am a little worried about the chart and earnings tomorrow.  The chart is below.  MACD still looking good.  Volume fell off a bit but I think that is probably in anticipation of earnings tomorrow.  Chart still looks pretty solid but today's action is a little shaky... again I think in anticipation of earnings tomorrow morning.  Here's the chart.

[dwest718]

Pretty bad day for me... DDDC beat estimates this quarter for earnings but had lower than expected revenues and guided slightly lower for earnings and revenues for full year 2006 with no guidance for next quarter specifically.

I got booted out at 1.77.  Dropped my stop at open to 1.80 so I could account for some earnings movement that I knew would happen.  Did not count on a 15% drop.  SWIR is having a rough day as well.  Getting some research done today so I'll have updated lists and portfolio status this afternoon.

[hermanpu]

those 2 positions you made so far are far too small, i'm guessing its because you are still waiting for the 3000$. You're paying about 5% of your gains just for the commissions on each of those 2 stocks. BGO looks good on your list, sharpeyed.com is pumping the precious metals thinking gold will make a rebound.

[rickjust]

hi,

good luck. trade on margin and you double your money. if you are going to risk it you may as well. hold only one stock. wait for a good penny stock. be patient . this can be done.
pull the trigger to lock in profit. don't wait for a stock to go higher.
the only thing i would say about your list of stocks  is it is too long, focus on just 2 or 3 volatile stocks and watch their action. jmo
good luck
maxi

terliso is also right. wait for a good penny and take profits around 50 to 100%
easliy said but they are there,
maxi

[dwest718]

those 2 positions you made so far are far too small, i'm guessing its because you are still waiting for the 3000$. You're paying about 5% of your gains just for the commissions on each of those 2 stocks. BGO looks good on your list, sharpeyed.com is pumping the precious metals thinking gold will make a rebound.

For the first point (about position size) .... yep  .  The position in SWIR was one I already had though so no commission per se on the buy end... that's already been factored in .  We'll see about earnings today.  DDDC wasn't too great.  Hopefully SWIR will be a bit better.

For the second point (about BGO) .... been looking into it since yesterday.  Still only have around 320-340 in cash available though.  Should be getting the other money by Wednesday at the latest.  I still like BCGI... the chart is looking better every day.  As of now... if I decided to take a position, it would be in one of those two (BGO or BCGI).

[dwest718]

terliso is also right. wait for a good penny and take profits around 50 to 100%
easliy said but they are there,
maxi

Don't know if I want to trade on margin but I will definitely start looking at pennies with high volume.  After WWEN the other day, they look pretty darn good to me 

If anyone has any pennies to recommend, I'm all ears.  I've been taking a look at otcbb.com and looking for stocks with high volume and priced over .005 a share... but it hasn't helped much.

[Terliso]

Pretty bad day for me... DDDC beat estimates this quarter for earnings but had lower than expected revenues and guided slightly lower for earnings and revenues for full year 2006 with no guidance for next quarter specifically.

I got booted out at 1.77.  Dropped my stop at open to 1.80 so I could account for some earnings movement that I knew would happen.  Did not count on a 15% drop.  SWIR is having a rough day as well.  Getting some research done today so I'll have updated lists and portfolio status this afternoon.

When you bought DDDC it is already a bad stock, bearish stock a kind of stock that very risky to play with.
http://www.3stocksonfire.org/trading/index.php?topic=3878.0

Some traders say the "trend is their friend"....
& I say Moving Averages is my best friend....

[Terliso]

If anyone has any pennies to recommend, I'm all ears.  I've been taking a look at otcbb.com and looking for stocks with high volume and priced over .005 a share... but it hasn't helped much.

LFWK.pk

[boatguy]

Hey Dwest- Check my GPSN chart at the bottom of the thread here:

http://www.3stocksonfire.org/trading/index.php?topic=1466.0

If it gets volume watch out!!

WWEN was a money maker but pales beside IGAI today(wish I had got in). Only need a couple of those a year

I think the trick with these stocks is to get out quickly if the momentum fades, don't think of walking away from your computer unless you can put in a stop.

Good Luck

[Lucas Scott]

If anyone has any pennies to recommend, I'm all ears.  I've been taking a look at otcbb.com and looking for stocks with high volume and priced over .005 a share... but it hasn't helped much.

LFWK.pk

I think LFWK finished its move, but how about DTGP?

[hermanpu]

If you see a stock at its HOD (highest price of the day) with a lot of volume, at least a few million, its a safe bet, but you have to get out fast, take 5-10% and run with it.
Today IGAI.ob went up 1300%+ but ended the day with like 700% so you can see why you need to exit fast.
This is today's one day chart of IGAI.ob
To spot these, i recommend goto to http://www.microcaptrade.com/ind/index.html and the first page will list about 5 stocks that have the biggest volume, and try to buy the one that has gone up the most. Don't hold these stocks, watch them like a hawk on level 2.
This doesn't happen everyday, but all it takes for you to make your goal is 1 of these.
FHAL and PAIV also ran hundreds of percents last week.