Learning Penny Stocks - Plan included - Advice Wanted!

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Afterwork

Major Changes in plan coming this week....

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Money Management

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Charting and Fundamentals

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Finding Penny Stocks to Trade.

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mcjodie

08/24/20 9:29 PM

Post #29

Anyone know why a ticker would change from letters to numbers in my brokerage account? The company had gone out of business a few years ago

08/25/18 10:42 AM

Post #28

Re: #6: @Afterwork - FUAPF-First Real Penny stock trade. Really this

Up this week

Afterwork

06/27/18 7:24 PM

Post #27

SPVR simple .0001 - .0002 possible tommorow :)

Afterwork

06/27/18 6:42 PM

Post #26

MNGG - Can it really be this easy... Same play as today for the double up.
Remember to just set the limit orders do not jump in higher then .0001

Afterwork

06/27/18 6:22 PM

Post #25

Re: #19: @Afterwork - ABWN - Well this changes everything - I

ABWN - I would be in this if I had the funds - I would look at getting out if the analysis breaks down @ .0054

Afterwork

06/27/18 6:17 PM

Post #24

Re: #18: @Afterwork - DSGT - Plan for tomorrow (Well not for

DSGT - Did not pan out off my watchlist for now :)

Afterwork

06/27/18 6:16 PM

Post #23

Re: #17: @Afterwork - MNGG - Liking the chatter about this will

MNGG - Quick Double up today - Dropping stock from watch list :)

Afterwork

06/27/18 6:14 PM

Post #22

Re: #16: @Afterwork - LIBE - Part of changes to the plan

Had a day just as I thought we would I would put a contigency order in for tomorrow above .005 with a limit of .0055

Afterwork

06/27/18 6:09 PM

Post #21

6/27/18 Well what can I say another down day 5.84% but, on the bright side I am still in the trades. I did put limit orders in on FUAPF for .1926, DPWW for .0156 and AEXE for .0006 these would be my break even - commissions and will free up the money for trades that I feel are better as I learn.

Afterwork

06/26/18 9:40 PM

Post #20

Okay strait up move change - As you all know I am comfortable with my technical trading as I have study for years with options and Forex and the ABWN Trade is something that I feel I cannot pass up - The plan I have is frankly crap at the moment. Tomorrow I plan to free up my trades that I am in setting limits on all of them for what I paid to get in. If they sell It will free up funds for ABWN which I will still only trade with the limit of $100. As I noted before major changes in the overall plan this weekend.

Afterwork

06/26/18 9:28 PM

Post #19

ABWN - Well this changes everything - I will be cashing out of my other trades to give me capital for this one for sure. I can see .008 to 1.08 what can I say I am sold...

Afterwork

06/26/18 8:55 PM

Post #18

DSGT - Plan for tomorrow (Well not for me need more capital lol)

Afterwork

06/26/18 8:53 PM

Post #17

MNGG - Liking the chatter about this will put a limit order in for tomorrow for .0001 and see if the chatter adds up to something. If I get in I get in if not well there are many more trades out there.

Afterwork

06/26/18 8:50 PM

Post #16

LIBE - Part of changes to the plan is instead of scanning I will be looking at the breakout board (Hot!) and looking at stocks that are under .01 and have over 1Mil in volume. LIBE fits that bill. Looking for consolidation before getting into this trade. (I am not trading this live as the funds are still locked up)

Afterwork

06/26/18 8:43 PM

Post #15

6/26/18 - Trading Update For today my account took a downturn as FUAPF, DPWW, AEXE did not make any gains for today :(

Afterwork

06/26/18 8:40 PM

Post #14

Major Changes in plan coming this week....

Afterwork

06/25/18 8:10 PM

Post #13

6/25/18 - Trading update. Today my account saw a 3.37% increase as FUAPF and AEXE both moved up. DPWW sadly did not. Well, not to beat around the bush tonight my account is fairly small at this point so there is no other trades that I can add so to save time tonight I will be skipping my scan as even if I find one or two stocks I cannot trade them. I am going to keep my eyes open on the Hot section of this forum and see if there might be some merit to those stocks or see if it is to late to get into them.

Afterwork

06/24/18 10:19 PM

Post #12

Re: #11: @TipsyOnWhiskey - VMGI = huge week ahead. Check it out!

VMGI does seem to have potential the question really is if the move is over. My current plan there is 2 issues with getting into the trade right now first is the volume not being higher then the past month and second is the RSI being over 50 - I will keep it on my watchlist though as I am trying to learn. Thrashing21 Why do you like this stock? What is your reasoning? Thanks Again for the lead. Here is my chart on it VMGI

TipsyOnWhiskey Free

06/24/18 1:46 PM

Post #11

VMGI = huge week ahead. Check it out!

Afterwork

06/23/18 12:17 AM

Post #10

CWIR - Another Gem, Really like this one but, sadly the funds where not there for the trade CWIR

Afterwork

06/23/18 12:15 AM

Post #9

ERUC - Did it stop trading? - Here was my setup, did not get into the trade
ERUC

Afterwork

06/23/18 12:13 AM

Post #8

WDRP - Entry would have been red arrow. I did not have the funds based on my account to get in the trade but, WDRPhere was the setup.

Afterwork

06/23/18 12:11 AM

Post #7

DPWW - In date is the red arrow. Thoughts on this trade?
DPWW

Afterwork

06/23/18 12:09 AM

Post #6

FUAPF-First Real Penny stock trade. Really this one I was looking more at cash flow and not using the plan I have set up. Just looking to get out here soon. FUAPH

Afterwork

06/23/18 12:05 AM

Post #5

AEXE - Got in on red arrow - Bottom red line is limit order, Top Red line is target, vertical line is sell date. Do you think 10 days is enough for the trade? AEXE Chart

Afterwork

06/22/18 11:55 PM

Post #4

Money Management
I place a limit order for stocks I am looking to trade based on charting. The buy limit is the 10EMA.
Amount I spend on each trade.
I look at my available cash. If my available cash is over $1000 then I divide it by 10% and that is what I spend on my top prospect for the day. Lower the RSI the stronger the prospect. Next stock for the day is the same except I subtract the first prospect, and this continues.
Example of this concept. Available cash in the account for the day is $5000. Stock 1 is 10% of that so I invest $500 into it. Stock 2 has available cash of $4500 for the day so 10% is $450 for that one. Stock 3 has $4050 available cash so $405 for that one. Stock 4 has $3645 so 10% is 364 and so on. Note usually after my scan of the daily stocks I only find 2 or 3 to trade in for that day.
If available cash is under $1000 then each trade gets $100 till there is no available cash left the rest of the trades for that day do not get traded.
I feel for best results I need to keep the money flowing in the account. Trades are only active for 10 days at which point I close it if it did not hit the target to make funds available.
Once in a trade the target is 3X the limit order. So, if the limit is .0006, then the target is inputted the night of the trade for .0018.
Also, when the accounts available cash is under $1000 at the start of the month I add $100 to the pool each month for more trading action.
Cashing out. Stocks that hit targets the profit is split 50/50. 50% is left in the account, 50% is moved to my personal finances where 30% of that 50% is set aside for taxes. Example – Let’s say the profit for a trade is $400 dollars. $200 gets transferred to my personal checking account. From there $60 is put into savings for a tax hold and $140 is personal use.

Afterwork

06/22/18 11:25 PM

Post #3

Charting and Fundamentals
There are 4 things I look at…
1. Is the volume from a bullish day? – Shows buying interest
2. Is the price under the 10EMA? – Gives me a limit price
3. Is the stock in a BB squeeze range? – Shows the stock is about to move
4. Is the RSI under 50? – Shows the stock is oversold
If all of these are yes, I move the stock to trading, if not I drop it from my watch list.
I currently do not look at fundamentals.

Example - TradingView

Afterwork

06/22/18 11:10 PM

Post #2

Finding Penny Stocks to Trade.
I currently use TD Ameritrade as my broker and Tradingview as my charting software. I set up a screener on TD Ameritrade with the following settings “Today’s Volume vs. Average = Heavy”, “Current Price = Less than or equal to $.05”. These settings are limited to only working after trading hours during the week. Next, I take and change the views from Screener Criteria to Volume. Then sort the volume column so the highest volume for the day is on top. Then go through the list looking at the chart for stocks with volume that is higher than the past few months. I stop my checking when the daily volume is under 1 million.
Here is an example TradingView

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Learning Penny Stocks - Plan included - Advice Wanted!

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Created	06/22/18	Type	Premium
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Well here is how my penny trading started - I will no longer be updating this board :)

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Learning Penny Stocks - Plan included - Advice Wanted!

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Learning Penny Stocks - Plan included - Advice Wanted!

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