if you are doing more than 5+ trades a day, you are classified as a daytrader and will be required to have the min capital for trading, which I think is 25k. Regardless, I find it hard to believe you are hitting 80%, 8/10 times you pick a winner? You could write a book and become a billionaire too while you are at it. Just take out a huge loan, and trade it, you obviously have special powers.
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swing trading is the way to go, thats more what hes talking aboutComment
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Yeah, read my previous post about the $25,000 minumum. The SEC classifies you as a "daytrader" with 4+ trades per day, but this is only for margin requirements to make sure that people don't go out and take a small loan to start trading in the market and put their capital at risk when they don't have the money to really trade.Originally posted by canplayer
As far as writing a book, hey, this system is not something I invented per say, I am sure there are other great traders out there who do some of these tactics...I am sure I did not invent them, but I am utilizing them and doing it succefully. It's natural to be a skeptic, thats your right. The proof is in the pudding, so once I post some future picks you can judge the results and the system for yourself.
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the only time I listen to CNBC is when they do insider buying. if you can get into a stock lower than what the CEO just paid or the same 90% of the time you win on quality companies.Big Boob trades icq 265907826Comment
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sure, i'm open to any ideas on trading. That's exactly what it is, swing trading. On your next trade, post the stock, position, and reason for trade, I'd love to understand your philosophy. Maybe you can make us all rich here.Comment
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I use esignal for my data feed. cybertrader/questrade is the online broker i use. awesome stuff, lightning fast trades.Originally posted by MetaformXComment
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I will definitely be interested. Post away, and i will read it.Comment
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I opened up an online account last month, but did not start using it yet.
Would be fun to see what you pick. Maybe I will join some of your picks, just for fun.seks.ai for sale - ping meComment
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Can't wait for the system.Originally posted by MetaformX
I am surprised you are willing to share.Comment
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Meta can you icq me 237842929 i would like to speak with you.
ThanksComment
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If you have something, post it up. I am interested. I won't pay for it though, cause I already have a system that makes me money in the market.Comment
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Ive heard good things about Cybertrader as well.Originally posted by austinthComment
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Hey Meta,
Do you use the Waxie trendfund methods for trading?
Do you wait for a 52 week high on the stocks you pick?
Sounds like you are kicking major ass.Comment
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I don't mind sharing the wealth, the way I look at it is if you guys make money in the market, that will not effect how much I make since we are not directly competing with each other, so why not help people out. Why should the wallstreet whales have all the fun?Originally posted by pxxx
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I added you.Originally posted by ChaldorayComment
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Originally posted by BoNgHiTtA
Thats cool, no one has to pay for it, I do alright for myself, all my info will be for free.Comment
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I am somewhat familiar with Waxie, but not quite sure the methods he uses. I would guess though it is similar to what I do.Originally posted by scardog
No, I do not wait for a 52 week high on a stock, although I do love to trade stocks that do hit a 52 week high.
Here are a few rules that will give you an idea of how I trade.
1. Absolutly NO bottomfishing. To buy a stock simply because you think it is cheap is the easiest way to lose your ass in the market.
2. Trade only stocks above the 50 day MA (with a few exceptions)
3. Trade Gap ups. (not immediatly though)
4. 2% stop loss on all trades, unless in the rarity that a chart suggest the stop loss can be more liberal.
5. I Hold a stock anywhere from 3 hours to 6 days. I let the chart tell me when to exit and when to enter.
6. I don't give one hoot about a stock's fundementals. If you are in a stock long enough to understand it's fundementals, you have been in that stock too long. I let the chart and the market tell me what to do, not what some wallstreet analyst thinks the company is about or what their profits will be in 2006. I don't care.
7. I have CNBC at the home and the office, but I do not watch it.
8. My final and most important rule: Buy only stocks that are in uptrend, and short stocks that are in downtrend. I would rather be shot than buy a stock in a downtrend.
So that is the jest of it. I take all those rules, and then each day I do charting on all 7000 stocks in the market and I find the top 10-100 stocks that meet my criterias. Then I get to know the charts on all of them, and I watch them for a few days. Everyday a few of these stocks break out. I wait for an entry point, get in, then ride the uptrend untill there is a change in the chart, and I exit, usually for a 5-15% gain, and sometimes I get lucky and hit a 50% one, like I did with GIGM last month.
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I would not take advice from anyone
Here is basically what this guy does. He watches a certain amount of stocks. He waits to see the stock go up and then he buys into it hoping the momentum continues. In most cases it does not. What he fails to tell you and I am very leary about him is that you CANNOT put a stop loss in on a penny stock. If a stock is at .30 cents and you put a stop loss in at .26 cents you will start selling your stock. Then if it drops below .26 cents and you still have shares you WILL NOT SELL the rest of your shares.
Do yourself a favor. Do not take stock tips or take any advice on how to make money in the stock market from someone on the Internet. You will lose your ass.Comment
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He is not really giving stock tips. He has a method of momentum trading. Fundamentals don't matter. He has nothing to gain by telling us his method for free. Trading the gaps, momentum trading is what waxie teaches at trendfund.com . Sounds like you are having great success, and thanks for including us.Comment
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Okay, since there is alot of interest in daily stock picks, I will make a single seperate thread on GFY and I will post my daily picks in that same thread everyday, (if Lensman sees no problem in it) so you guys can bookmark a single thread and won't lose it.
Then we can all discuss those stocks and the charts in that thread, and the action that took place, instead of me getting bombarded on icq and having to explain myself over and over.
Usualy at about 10-10:30 AM Eastern is when I enter a trade, so you guys can just keep your eye on the thread at around that time and I will post my picks for the day and what price to enter and what price to exit and what I think you should set your stops at.
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Yes he is
He sure is going to post certain stocks. You guys need to do your own DD. Do not take anyones advice on how to trade stocks. This guy is dead wrong about putting in a stop loss on a penny stock. IT CANNOT BE DONE.Originally posted by scardogComment
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can you send me a message?Comment
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Originally posted by Lawyerssuck
Right, who said I will be listing penny stocks here?? If you were to read all my posts here(which obviously you did not), you would see that I emphatically stated that trading penny stocks is very risky, and I will not be listing my penny stock picks here since I know that most of the people on this board are not experienced traders.
And I am quite amused at the conclusion that you have arrived at, stating that "He waits to see the stock go up and then he buys into it hoping the momentum continues". All I can say to that is that If it was that easy, everyone would be doing it. But maybe your right, I bet Goldman Sachs could give you those 210% gains as well with their great buy and hold strategies. By the way, in a buy and hold, how long do you Hold till? Untill the company goes bankrupt?
You are right about one thing though, you should not take stock advice from someone on the Internet. This is why, if you were to actually read anything I said, you would see that I told everyone to follow my picks at the begining to see how they perform, and then do your own research, and then buy the picks after you have done your OWN research.Comment
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Thanks scar. Yeah, not like I am charging for my service. LoL. I just thought it be cool to have a daily stock session for those interested in it. There always has to be that one guy in the group who tries to screw things up for everyone else though.Originally posted by scardogComment
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Read my post before this.Originally posted by LawyerssuckComment
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I did just now, it sais you are offlineOriginally posted by ChaldorayComment
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Sure, keep a thread going in here of your daily picks and any info on your methods would be helpful. I trade subpenny stocks and do very well, but I don't recommend it for anyone new. The last 4 days have been great, up 350% with hpon.Originally posted by MetaformXI am up 210% in 2 months. It takes most people 20 years to be up that much
It's all about minimizing your risk through technical analysis and then getting in and out, let those winners run and cut the losers loose right away. And most importantly, don't listen to CNBC or your broker for stock advice.
If there is enough people interested, I will start posting my stock tips here in like a weekly thread. Who is interested?"WTF, on google you can find the answer to every question in human history, EXCEPT how to convert cams..
Its crazy..."
VenusBloggerComment
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Will do bro. HPON, now that is really a penny stock. Look at that volume, I guess it's the SIRI of the OTC, huh?Originally posted by lazycashComment
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You need to go back and read what you wrote.
You wrote that the MOST you lose on a stock is 2% because you put a stop loss in. Now you write that you will not post penny stocks on this board. You also wrote that when trading penny stocks you can have as little as $5,000. If someone only has $5,000 they can only trade penny stocks to make any kind of money.Originally posted by MetaformX
It is IMPOSSIBLE to put a stop loss in on a penny stock. So when YOU buy a penny stock you can lose more than 2%. So by you writing that you can ONLY lose 2% is wrong.
The two stocks you mentioned in this thread are penny stocks. Why don't you list the last 20 stocks you have traded. I am not intereted if you made any money so their is no need to tell me how much money you made.
Now to answer your question about how long I hold a stock on a "buy & hold". Where did I write that I did hold a stock for a period of time?Comment
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Maybe 200% is possible over short term, but over long term that % gain will come down a lot especially with daytrading. i dont know what it would have taken to make 200% in the market over the last few months, but making A LOT of money in the market in just the last few months would have been very easy.
Market was up nicely since the summer, many stocks were up big
Here are few examples of where i made money over the last few months
MCHX +30% since early Dec
GOOG +100% since IPO
IACI +20%
and bunch of others in the same rangeComment
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Bullshit!!
Here is one penny stock you listed.Originally posted by MetaformXMost Mutual Fund managers would kill for a 11% gain in 1 YEAR now a days. How about a 11% gain in 3 DAYS on a day when the Markets are down?
To anyone who does not know. A penny stock is any stock that trades under $5.00.Comment
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Bullshit!!!
I wait for an entry point, get in, then ride the uptrend untill there is a change in the chart, and I exit, usually for a 5-15% gain, and sometimes I get lucky and hit a 50% one, like I did with GIGM last month.[/QUOTE]
Here is a second penny stock you listed. I guess when you wrote you are not going to list penny stocks you lied.
I am telling all of you do not trust this guy. He does not have a fucking clue on how to trade.Comment
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Oh man, that is really subprennyOriginally posted by lazycash
413,470,415 Volume. DAMN shit loads
i dont remember last time i've seen such a huge volumes if ever
whats the future for this stock ?Comment
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haha, there you go again puting words in my mouth. You nick is lawyerssuck, but you sure act like a lawyerOriginally posted by Lawyerssuck
The stocks I mentioned, are OTC stocks, I mentioned them as examples. I am providing my service here for free, no catch, and my results speak for themselves, so I don't see what your getting your panties in a bunch about.
You keep bringing up penny stock. Show me exactly my quote where I said "you can start trading PENNY STOCKS for $5000".
Oh, and show you 20 stock I've traded that are not penny stocks? How about 23?
DNDN
WIN
VISG
VCLK
TNH
REMC
MIPS
MAGS
IRGI
IDBE
NYFX
GNA
OTIV
DAL
CAL
CHKP
BPT
ADSX
AA
SLR
DISK
CRGN
LMIA
Anything else I can for you?Comment
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Pennystock is any stock that trades OTCOriginally posted by LawyerssuckComment
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Believe it or not there are tons with more volume than that, its like this little world of micro penny stocks that the normal trader has no idea exists. Lots of hype, pumpers and bashers and lots of market maker manipulation, but if you're willing to accept substantial risk there can be incredible returns. Watch prrm over the next three days, should be at min 200% return.Originally posted by MetaformX"WTF, on google you can find the answer to every question in human history, EXCEPT how to convert cams..
Its crazy..."
VenusBloggerComment
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Originally posted by slavdogg
slav, your right, if you got in the market about 3 months ago, you should have at least a 20% gain, which is pretty amazing for 3 months. The market has been going up good. The key toa good trader is one who makes money when the market goes up, and when it comes down.Comment
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Well I got in early on a tip and rode it up on a momentum play, but stuck with it longer than usual and its paid off. I was about to sell today, but they are previewing a new disposable cdma cellphone at the CES show on Wednesday so I'm banking on the hype putting it over a penny, but will sell quick if it dips back much more. As far as big volume, I saw cmkx do 20 billion in volume in one day last summer.Originally posted by slavdogg"WTF, on google you can find the answer to every question in human history, EXCEPT how to convert cams..
Its crazy..."
VenusBloggerComment
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LoL! Okay, now I know your even more confused than I first thought. Here is a lesson for you: A penny stock is a stock on the OTC (over the counter board). OTC stocks = volitaile.Originally posted by Lawyerssuck
GIGM for example is a nasdaq stock, NOT a penny stock. There are many nasdaq and NYSE stocks that are under $5, they are called SMALL CAP, not "penny stocks". Anything else you need a lesson on? I'll be happy to teach you.Comment
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Here you go.
As far as your starting capital, I won't mention how much I trade with, it's a good amount, but I would recomend that you start out with at least $10,000, although since I trade low priced stocks (because they are the most volitaile) you can start out with as little as $5000 and still be able to grow that, although the more starting capital, the better. I use margin, but in order to use margin and you are classified as a day trader(you do 4+ trades per day), SEC rules mandate that you have a minumum of $25,000 in your account.
I guess you did recommend starting with at least $5000.00. I guess you did recommend trading penny stocks with that $5,000.00. Are you trying to suggest that someone can actually make money trading a $50.00 stock with just $5,000.00?
You are a fucking fraud. Anyone who even thinks about following anything you pick is a fucking idiot.Comment
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Go for it, I'm open for some new ideas.Comment
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You do not know dick about stocks.
You are a complete dick. Almost every stock you posted is considered a penny stock. If a stock trades under $5.00 it is considered a PENNY STOCK.Originally posted by MetaformXhaha, there you go again puting words in my mouth. You nick is lawyerssuck, but you sure act like a lawyer
The stocks I mentioned, are OTC stocks, I mentioned them as examples. I am providing my service here for free, no catch, and my results speak for themselves, so I don't see what your getting your panties in a bunch about.
You keep bringing up penny stock. Show me exactly my quote where I said "you can start trading PENNY STOCKS for $5000".
Oh, and show you 20 stock I've traded that are not penny stocks? How about 23?
DNDN
WIN
VISG
VCLK
TNH
REMC
MIPS
MAGS
IRGI
IDBE
NYFX
GNA
OTIV
DAL
CAL
CHKP
BPT
ADSX
AA
SLR
DISK
CRGN
LMIA
Anything else I can for you?
You are providing a service that is free but you do not know dick about the stock market.Comment
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Sounds like you are the idiot here. I mean you don't even know the difference between a OTC stock and a nasdaq small cap. Why should anyone listen to you? ahahaOriginally posted by Lawyerssuck
I am a fraud? haha. I own an adult business, it's not I came on here to sell crack you moron. I am offering my advice to anyone who wants it, and offering it for FREE. Do you understand that?
And no, you don't buy $50 stocks with $5000 in capital. You buy $5 stocks. They do exist you know, and they are not called penny stocks. Hit me up on icq, I'll give you a lesson on how the market works.Comment
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What? no Google? I got in on Google at $85 a share. Yummy!Comment
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Here you go, time to go eat some crow. Anything else? You are amusing though, I think I will keep you around.Originally posted by Lawyerssuck
"Definitions of Penny stock: Stock that typically sells for less than $1 a share, although it may rise to as much as $10/share after the initial public offering, usually because of heavy promotion. All are traded OTC, many of them in the local markets of Denver, Vancouver, or Salt Lake City."
http://www.google.com/search?hl=en&l...ne:Penny+stockComment
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"Your mom doesn't like what you do? 'Fuck you Mom!' Your dad doesn't like it? 'Fuck you Dad!' See how it feels when you're making their fucking Lexus payment!"Originally posted by liquidmoeI used to watch Wall Street and Boiler Room almost nightly, I think got the majority of the good lines memorized at this point. Always a great movie night for some motivation to get work done the next day
I have no idea how close I got to that, it's been two years - but I love those movies, both of em ;) Ben Affleck gave the best interview in the fucking world in that movie. :P
"I'm a dinosaur around here, it's a damn good thing I'm good at what I do"Comment
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Nice.Originally posted by PersianKitty I actually thought Google was overpriced when it came out, I guess I was wrong. Are you still holding?
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Here just for YOUOriginally posted by Lawyerssuck
from webster
penny stock " The stock of a small company not listed on a major exchange and traditionally selling at less than a dollar a share"
http://answers.com/main/ntquery?s=penny+stock&gwp=8Comment
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Slav, don't worry about this guy, I think he has a mental disorderOriginally posted by slavdogg He is funny though.
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my favorite line,Originally posted by Wolfy
"there is always a sale made...... "Comment
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