Week 34 in the books. This week has been absolutely amazing. There was a ton of opportunity in the Markets. Low Floats were the trend this week. Below are my trades for the week. I made some costly mistakes, but I will learn. A loss is never really a loss unless you gain something from that loss. I am only as good as my last trade. Every trade reveals your level of development which is why tracking is essential. This week started out great with $NCTY. Ended in a slump, but I am still green for the week. Once again make sure to check the links at the end of this post. Let's $LYFT off.
$NCTY was an absolute premium setup that the Market handed me. Make sure to check out the live trade along with myself giving a recap of this trade. Remember that every trade that presents itself to me I go into unbiased. I let the Market tell me too either be Long or Short. If this case with $NCTY, the Market was telling me be Short. Short Big. Again. I warn against shorting, but when the odds are in your favor the Market can reward you. Understand that you have nothing to be afraid of if your Penknife the risk of every trade and Cut your losses when that risk is breached. Only risk what you are willing to loose in terms of your account size and what's conformable to you. I can't emphasize this enough that loosing is apart of the game. Winning is easy, loosing is hard. This has been something that I have been battling. As I have mentioned in the past post, being patient as long as my risk level held was not working for me. And this past week I understood why. I was afraid to loose. Which you can't trade with that mindset. I will go into this idea in a post in the near future. Back to $NCTY I was short biased because the previous chart history indicated that this has had a history of Gaping and Crapping. Hence a Gap-and Crap. Another factor is that I got short pre-market, which I only do in unique circumstances. This was one of those. I had a gut feeling that I had to risk some pain,because I had a gut feeling at the Market Open there was gong to be a sell off. Which is what the Market handed me. I covered into the washout, which leads me to my next point. It's OK to leave some on the table. I took the meat of the move. I will work on this in the near future. Letting my profits run. Overall $NCTY handed me a great profit.
$SRNE was another great setup the Market handed me. I was not looking to trade, I simply was prepared from the day before. This was on radar from the past week. Ideally, I was aiming for a massive panic as we have had on the previous day. We got a small glimpse of that on Tuesday. Therefore I was short pre-market in anticipation of a morning panic. That is what we go. Even though it was not the massive morning panic I was anticipating, I locked in profits. The next day. Well looks like I once again covered too soon. As today's price action was a clear indication. We got that fucking panic that I was aiming for. I take full responsibility as I left if off the radar. I had great commentary saying that 5$ would be key support. Once it cracked that key support level there was a Tidal wave of sellers. Thanks to those who use Stop losses, there was a massive panic that resulted in a great dip buying opportunity. I am not mad. I was on the right track. The market is always in constant motion. As it just handed me a Premium Set-up which I'll discuss right now. Make sure to check the video recap.
The Market just handed a Premium set-up. The most classic set-up in this entire game of Penny-Stocks. Pump and Dumps. Yes! It has been a while since the market handed a quality Pump. I have done numerous blog post about the lifespan of a Pump and Dump. So make sure to do your homework. Rule number one is always Cut Losses Quickly Especially with these Manipulated stocks. Since they are manipulated, once they fall, they can drop in a matter of minutes as a result of those who use Stop Limit orders along with the Promoters selling. There is an intense selling pressure created once there is a clear momentum's shift. On the flip side. If you catch the Promotion early you can actually profit in the Long side. I am not advising you to do so, but in my opinion going Long in the early phase create little too no risk. Again only put in what you are willing too loose. Especially with these Paid Promotions, as they are the sketchiest of them all. I would not recommend Short early unless you have a clear reason to do so. As I have mentioned before Pump and Dumps offer outstanding rewards to the downside, as we all know the end game That's your edge. Shorting to early can be risky on a Pump, since the Promoters are in control. I typically wait too the 3rd Green Day to aim for a Short, but only if Price action proves my thesis. So what's my position. I am writing this on Wednesday, I will be updating this as the week ends. I am currently Long $OOIL. Which is has ran from $.85 to $2.34. An impressive run, good job to the promoters. I got long yesterday before the Market close as I realized that a new mailer has been sent out from PSRG. This mailer has been very reliable in the past. Really the only one that has been quite successful since the SEC has been cracking down on these manipulative run-ups. For example I have a blog post about $FPTA, by far the best paid promotion I have seen in a while. That same mailer is running $OOIL quite well. YES! Hence why I am Long as of right now. I will SHORT this when the market tells me to SHORT. It's not a question of IF, but WHEN. But as for right now I am long,simply because it is very early in the Pump phase. Of course I am watching this like a hawk, because I know that this can collapse at any given moment. I am currently up $200. I have zero expectations. I assume that into the Market close there will be a huge move as that is ideal for Pumps. I will report back soon. OK, I just lost some of my gains. There was a slight panic into the last hour of the close. I cutted losses quickly, as I have said. I will never risk potential Disaster. I. am now short biased as the price action tells me. No play as of right now, it is very choppy. Short once again. I will take me risk. I am willing to loose. I know the endgame. I am short as this is falling. I was not looking too short, the market told me too short. I will cover when the market tells me too. The Next Day: Well I got faked out. Great job too the Promoters, do your job. I am short overnight 2,333 shares. Sometime you have to risk some pain. I know the that this Will end up in the gutter. Tomorrow it Friday, which is notorious for Short Squeezes and Morning Spikes. It's in the promoters best interest in utilize the Friday Phenomenon. I might have made the biggest mistake yet. NEVER UNDERESTIMATE STOCK PROMOTERS. It's OK. I leaned a valuable lesson toady. Whatever happens at the Market Open will be a great learning tool. I will be recording it live. Today was an absolute amazing day in the Markets. Low Float Mania. I'll report back once the trade is complete. Friday:Today I leaned a valuable lesson. Never underestimate Stock Promoter, they are in complete control. I am down roughly four hundred dollars on $OOIL. Great Job to the Promoters, the higher the better as the end will be glorious. There are key lessons to learn from my mistakes on this paid promotion. First of all, you don't want to be short too early in the promotion. That was my main issue, I was short big heading into Friday as I described. I played the odds, but I underestimated the Promoter. Secondly, never underestimate Stock Promoters. They are in complete control. I was too eager to short and make the big money. Trust me the day is coming, I have seen a pump this reliable since $FPTA. And I know how that ended. And I know how $OOIL will end. It's not a question of IF, but rather WHEN. I expect to short BIG. Understand that Paid Promotions this strong don't come around often. Therefore when they do it's time to maximize your profits. Although the volume is very light still. This does alarm as it signals future Spike. In addition there has not been a clear trend change since the promotion began. Every single day there has been a Gap-up followed by a morning spike. When there is a trend changes that is the signal. Next week will be very exciting. Make sure to catch the recap in the links.
The Calm before the storm. As I have mentioned low float stocks have been on fire this week. $BOXL just reported Amazing earnings after hours and it skyrocketed. Yes, $BOXL is a Low Float. As I write this it's Thursday. Tomorrow is on Friday. Hence $BOXL will be an ideal set-up for numerous reasons. Of course, I can't predict the future. The fact that you have newbie shorts, creating a $CLWT and other's to skyrocket off no news. $BOXL has positive news. Would shorts DARE to short this on a Friday? I would not count them out. AGAIN anything can happen. I am looking to buy a simple breakout, or dip, as this is just the news to break out of the cup and handle formation. I will see what happens.
$FNMA was a small twenty dollar profit. I was not in full size, simply because $OOIL had me occupied. Although it would have been a great long overnight as it was a solid gap-up. $CLWT was perhaps the best lesson of them all. I was shorting this into the key technical breakdown at a round number. It turned into a gap and crap reversal, which I recognized. Therefore I simply cut my losses. Lost twenty-five cents a share on a small position. The market took $107 from me, that's fine. If I was a deer in a headlights, $CLWT ran to the high of $11. I cut my losses at $7.25, point is Cut Losses Quickly when your Risk is hit. Lastly, $SEEL was perhaps the most nerve reckoning trade of the week. I allowed my emotions too far involved. It's okay to be emotional, we are humans ,but its not okay to let emotions change your risk management. That is were I went wrong. I wanted to be right. Which is the wrong mindset. Trading is NOT about being right or wrong. It's NOT called predicting, it's called Trading.Your job is to control Risk Management while your Broker is in charge of placing your trades. Make sure to watch the recaps in the links below.
Update: This past week has been an absolute blast. I feel like it was yesterday when I began my journey.One Month left until School is over. I am really looking forward to Summer. Of course I will be working in order to create income for my starter account. I really don't want to Work, believe me. I understand that it will take a lot of time away from the Markets. But the Markets will be open for the rest of my life. My time to enter this game is almost here. Soon. I have been preparing for War for the past 34 weeks. Lose the Battle to Win the war. I understand that when I begin, it going to be far more challenging. But I am ready. I will honor the struggle. I will see you soon. Password for Recaps: tradersmindset