Tuesday, July 7, 2015

Fell behind, been getting sick..

Stocks being watched:

OGEN- Friday, good solid support at 1.65-1.7 from 2:30pm and on. Up on the day and 2nd day uptrend. Billionaire play; has news of a position in the stock. Today's high was 1.94.
Hypo: Buy at 1.7-1.75. Hoping for a gap up over the long weekend. 20cents upside with a 5cent risk at 1.65 support. If no gap up or news, be ready to sell position.
Result: Monday, No news and actually gapped down. DID NOT DO What i wanted, Sell full position at market open. Entry 1.7, Exit 1.78-1.83. Even though it didn't go my way, still a 3-6% profit. EXACT Same trade that tim would've done, show's im on right track when it comes to executing his strategy.

NUGN- Monday, 25cent drop 7% drop in 30mins since market open. Within that 30mins, has had lower highs and lower lows, Watching Level 2 would show resistance at 3.75 at 10am, 1st sign of a short. Broke down off it's day's low at 10:04, 2nd sign to short, I would short this with the hypothesis of selling at trend reversal on level 2. 10:12 shows resistance at 3.6, 3rd sign to short NOW !!. 10:22-10:25, Held at 3.35, bounce held at 3.4 showing reversal of trend, 1st sign to cover. 11:37-12:30ish. Testing resistance at 3.6, I SHOULD be covered waay before this, PRICE ACTION is not going as planned, 2nd sign to cover. I'm done for now, should babysit this on the side to see if it fades in the afternoon. Faded from 1pm-3:50pm at 3.75 til day lows, good sign to short overnight. Unsure of what size of a position i should take but good % play for a gap down/morning panic. Broke days low at closing, Hopefully, if this was a real trade, i would've at least took a small position.
Result: Short on morning panic, Entry: 3.65-3.75 at 2nd sign. Exit:3.4-3.47 or worst case 3.6 at 2nd sign for a 20-35cent/share gain or 5cent gain at shitty execution.
Hypothesis: Short a small-medium position just before Mondays close in anticipation for a gapdown/morning panic tomorrow morning. Entry 3.45-3.5, Exit at buyer strength.
Result: Monday closed at 3.32, Tuesday opened at 3.2 for a good gap down, This will be the main stock to watch in the am, will cover on the first sign of buyer strength. Dipped down to 3.07 5mins of open, next 10 mins show's buyers rallying up to 3.22, I have plenty of time to cover by this time, i need more practice at level 2 if i miss this obvious sign. I'll have another 1hr to cover below my short if im really blind. At end of day, higher highs, higher lows. Will only watch this stock if it has a good afternoon fade/panic. Entry 3.45-3.5, Exit at 3.07-3.22 for at least 23cents/share. Tim's trade was Entry at 3.57, Exit 3.12, I'm on right track but late on entry. He shorted after 2pm at lower lows and lower highs from noon, I shorted after 330pm. I need to make sure to compare late day to mid day trending.

Rationalizing tim's trades:
IPDN- Tuesday, Up on good news, Tim's trades was 4k entry at 2.75 at 0948 and 4k exit at 2.8 at 1006. 9k Entry at 2.52, "bought on a big dip, looking for an end of day squeeze/morning spike tomorrow wednesday, goal is to make 30-50cents/share, its traded nearly half its float today and has solid base in the 2.30s so limited risk dipbuyinig, only question is can it still spike, given the news and 1day of spiking I think it can, we'll see"

Tim saw it on the %gainer, bought on breakout at 2.75 and closed on signs of a double top (15min duration). I need to make master that entry and recognize that double top/execute that exit, if given another 5mins, i would've closed under my entry for a loss. Babysit on the side til afternoon, Opened at 2.15, shows good support at 2.3, stock been fighting at 2.3-2.5, Tim bought on the breakout at 2.5 and closed strong at 2.7 just under the days highs. Risk is 20cent downside, he's currently up 20cents and hypothesis is that it'll gap up/morning spike. I would close my position immediately if downtrends back to 2.5 tomorrow.

Thoughts on progress:
Today's plays i feel familiar with, so with a 5k paper trading capital, been entering with 66-75% of worth. I need to catch up to the alerts/vids by tomorrow and at least login the chatroom on wednesday's trading day. Current trades are in hindsight and calculations of gains/losses are very conservative, need to catch up to finally watch the stocks in real-time. Find more vids in regards with how big of a position size i should enter with and risk/reward ratios. On the downside, I need to be careful of being overconfident. Conviction > Confidence by Gregg S. "Lx21".

Vids: Lessons from a $10million+ Penny Stock Trader, https://www.youtube.com/watch?v=gXzJm85mtns

- Kaizen

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