07/16 – ARQL small 8% gain

I started my day trading career with Tim Sykes and when I wanted to learn more, I joined Investors Underground. The DVD’s that helped me the most were Tim Grittani’s Trading Tickers and Nate Michaud’s Tandem Trader.  Software that has helped me in my early years was: Trade Ideas software. Now I use FINVIZ ELITE. Click on the highlighted links for more details. For my main page, please click here: Day trading for beginners


 

At market open, the following tickers had some potential:

SNES: This ticker was added to my list. But just on watch for now. I do not like to short tickers below USD 2,00. So I am not touching these type of plays until they unfold. Ideally I would like to see some action above 2.40 – 2.50. A decent breakout would be preferred. When people start to lose interest I can start using that momentum as a guide. When the stock goes down again, and stop losses are triggered, I would size in and take my gains on the short side.

BBOX: nothing really interesting to add here. No borrows = no trade.

TRXC: Resistance was at USD 5,00-ish and support below 4.40. Although the one minute chart is shouting: “please, short me”, I am not taking this short, because it goes against my plan. And you should always follow your plan! This ticker did fai some resistance at 4.80, failed VWAP AND failed at the 50 EMA line. Yes TRXC also has the tendency to recover like a maniac like on July 12, 2018. This can easily take a bite out of your capital too.

ARQL: Was watching this when I though the market was boring and then this baby failed VWAP and failed key support at 5.50. Size in a bunch at 5.50 – 5.40 and covered into that 5.20 – 5.10 washout. This seems to work still. Look for support. Pennystock land is a bit weak at the moment, so use this momentum to your advantage!

VSTM: Shorted this at 8.10 and covered into a ramp from 8.10 to 8.20 into VWAP. This is not the action that I want and I Feel this cover was a good one. VSTM is way too strong at this point. I would rather wait for a head and shoulders pattern and see if USD 9.00 fails eventually. My educated guess is telling me, marker makers want this to go to USD 10.00. I am interested to short this now, because there is some major downside potential as USD 7.50 – 7.30 is the next support after 8.10 or Fridays support level. 8.00 held and jumped to 8.20 again today. So I am avoiding this for now until momentum shifts below the 50 EMA on the hourly chart (for now below USD 8.00). A stock that is below its 50 EMA signals bearish momentum, because sellers are in control now.

Some thoughts on trading

I am always willing to help too. I am not the best trader out there. But I am consistently profitable. the strategy I use has a freakin’ 75% win rate. With approximately 25 trades per month, I made money on at least 15 of these trades. That’s a whopping USD 300 gain per trade! I want to size these gains up to at least USD 1,000 to USD 2,000 dollars again.

New traders need to understand that the market moves on its own pace. Part Algo, part Psychological. Especially the latter is important. You should understand that a price will ALWAYS go down. Why? Because people want to bank their profits. Profit taking is so important, yet people underestimate this part of trading. What do you do when you have met your goals? You sell or you cover, do you not? You take the profits or cut your losses. This is what you should be focused on. People, hedge funds and Algo’s all base their decisions on where the money is. Support or resistance is created by these decisions and these decisions are based on prior support and resistance. So simple, yet so hard to determine. Why? GREED! Your greatest enemy! Together with fear. You must look beyond emotions and see the bigger picture. And this bigger picture is bigger then you imagine! Resistance = profit taking. Support means cutting losses.

For questions, add a message to my tweet. Maybe I can help you? Read my other blogs too for more understanding of my strategies. They look chaotic, but make perfect sense. Short at resistance, that’s where people take their profit. short at support, because that is where people cut their losses. These all create downward momentum and that is what I take advantage off.

Who can help you?

My strategies are based on what I learned from Tim, Tim and Investors Underground. Short selling is easy, but you need to know what you are doing first.

Keep in mind that Tim Sykes and Investors Underground have excellent services that you can learn from. They have plenty of information to fuel your thirst for knowledge. If you are new, start with Tandem Trader by Nathan Michaud and Trading Tickers by Tim Grittani, both exceptional beginners dvd’s with plenty if information.

Short selling is hot business. Both Tandem Trader and Trading Tickers have plenty of information on short selling.

Kindly click the following link here for Tandem Trader:

Tandem Trader DVD

Please click the link below for Tim Grittani’s Trading Tickers DVD:

Trading Tickers

I hope you enjoyed this blog entry! As always, feel free to share this post!


If you are interested in Investors Underground and would like to learn more, please click the link here: Investors Underground or if you are interested in joining Tim Sykes Pennystocking silver, please click here: Pennystocking Silver.

  • kindly note here that this should not be treated as advice, trade advice or any of the sort. Always trade your own plan, cut losses quickly and never follow any alerts. Always do your own research!

 

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