A present for you ,,
As mentioned ,, over the WSJ article and our notority ,, our membership literally doubled over this few days ,, so I would like to re-hash some of the rules in buying and selling stocks ..
We are day traders,, in day trading there 3 basic ways of doing it ..
Scalping
Moving in and out quickly ,, limiting exposure and going for that 1/8th to 1/4 points,, a defined risk ,, worst you lose is 1/4 point ,,
Action is fast and furious,, no ifs or buts,, if you got your 1/4 point get out ,, watching the INDU ticks,,
Convetional
More long term ,,looking for a pivotal entry and exits ,, risks are clearly defined with mental stops with loss tolerance set,, but upside could be more rewarding than scalping ..
Swing Trade
The time horizon is any where from 1 day to 5 days , like TAVA at 3 to 7 in 1 week ,, GERN over night for 300% ,, this is done with solid due dilligence on fundamentals ,, technical analysis or good rumour ,, ;-)
At Societe Anonyme ,, Swing Trade has been best for us , i.e. ALA MTC, CMGI, BAANF, ABTX , AGTX, OZEMY , PAIR , CIEN ,, etc of last 2 weeks , We take our profit mercilessly,, only stock that we are married to is RNTK ,, all others we treat them like whores,, standing at pier #9 at Marseille,, looking for sailors on the way to Corsica,, quick in and out , we do not let the stocks or their hypes become our night mares,,
When to buy and sell ..
Never buy at open ,, never place an open MARKET order,, always put a limit order,, god time to buy is after 9:45 as 99% of the stocks will dip on profit taking ,, Always sell at open , ,into strength ,,
Never buy or sell into frenzy ,, good example ,, we saw,, how ABTX sold off from 14 to 12 other day on the earnings warning ,, people panicked,, but as soon as selling was over it came right back to 14 for a minute ,, thats when we get out on bad trades.. ALso look at PRXL ,,dropped 60% on revenue loss of 8% ,, no reason ,, PRXL which we bought at 22 is now hitting 27 ,,
Buy when every one hates the stock ,, I keep repeating ,, I bought AOL at 20 last year as masses panicked on the piece by Herb Greenberg,, ROFLMAO ,,
Always be a contrarian ,, we have our own rythim,, away from the herd of chickens with no head.. if the greatest thing since a slice of bread comes along we short ,, we go long on ugly ducklings ,,
As bulls were running wild in Jule ,,markt tanked some 2000 points ,, as bears grawled ,, market gained 2000 points,,
Hind sight ,, if we had more balls ,, in that sunny July day ,, we would have shorted with our entire worth , and have gone long in that dark hours of September,,
Stil it worked for us well ,, like ABTX at 7 8 9 to 17 ,, CIEN from 8 to 22 ,, R O F L M A O ..
Or our short of G and GE ,, and PG ,, I got killed on playing on YHOO and AMZN wrong way , but got it all back Friday on GERN .. so I am back up to 2600% for the year ,,
Rememeber our motto, we are contrarians.. but not afraid to play the inbetweens ,
Sell when you feel it's right ,, either with loss or profit ,, buy without hesistance,, but always remmeber that risk tolerance,,
We do not concert with companies ,, or try to get some news from them etc ,, as I have done in the past ,, and as big trading houses are doing ,, as we all know ,, but realised,, that we have to be kosher and adher to all the rules of SEC ,, this is the only way game should be played,, and we will maintain that standard ,.
Rumours,, they are only rumours,, as any other rumour in the market place,, like our buiy of NMSS on Friday for supposedly MSFT OEM deal ,,
But also if you remember our DIGI rumour gave us 100% over night,, our IMNR rumour gave us 80% over night our CYPH rumour gave us 110% ,, in 3 days , we had bad rumours as well like that shitty USAD , and IPEC rumour ,, such is the game that we play ,, we are not investors, really we are speculators and day traders with damm good records,,
For those who are scalper and conventional traders get a level II service this imperative , we have a deal with Trac On Line (TRAC) ,, at the moment you get only 200 dollar sign up fee waiver by mentioning our club or TokyoMex ,, but as soon as we get a few more members who sign up and stay with them more than 3 mos,, we get a group discount of 40% ,,
Their no is 1 800 367 5968 and ask for ONLY Joanne Seagarra ,,
For those with 9 - 5 jobs ,, suggest you play Swing Trade,, intermediate plays..
We have defined those criterias with Quick Bites ,, A La Carte and Main Course..
As it implies,, whe you get an Alert or Quick Bites, expect volatility ,, when you get an EM with A La Carte,, that would be intermediate holds,,
Also many are asking ,, Joe how can I access the web,, use the pass word and user name that our Web has generated for you ,, and even when you get in ,, there is nothing there ,, other than same message that you already have in your EM ..
In the past when ever an alert has gone out , I have posted our buys a few minutes later to various internet forums,, like SI ,, from now , I will post our buys and sells at our web site, on the front page ,, I would like to see tons of click counts at our web so we can go after the advertising accounts ,, Gina and Rudy is working oin this ,, they are our official web managers and advertisement campaigne people..
Never chase a stock ,, that has run up as we buy ,, always set your tolerance criteria and stick closely to it ,, and you will have no one to blame other than your self.. don't be a maschosist ,,
More you show your vulnerability those stocks will step all over you ,,
LOL
What a cliche ..
Lastly ,, you MUST FEEL GOOD ABOUT YOUR SELF !,, tell your self that you are a winner !,, Whether you make profit or losses ,, make that GOOD TRADE within your tolerance limit !
If you don't you become a shitty trader and lose big ! Do not sit there like a deer in the head light ,, take the prifit relentlessly or get out if it's down 1/4 point AND MOVE ON !
DO not trust any stock ,, every stock has a Unabomber ,, and thjose with bigger purse than us , who are selling into our buying and vice versa,, look at ABTX ,, and if those fools on ABTX board thinks that Soros and Fidelity are their friends,, they are worse than a dog with no toilet training ,,
Suggest that you read ,, Day Trader by Jake Bernstein vol I and II ..
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