Working a day job and making a profit with low capital Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Working a day job and making a profit with low capital

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: trendy who wrote (29)	4/16/1999 6:55:00 PM
From: Fred Davis	of 32

Thanks Pana for your very informative post. I still haven't gotten away from the bbs yet. I am experimenting with a new trading style that I've been working on for the last week or so. I've had one of, if not the most productive weeks in trading. I'm sure it's been 99% luck and maybe 1% due to my recent trading pattern. What I have started doing is spending a few hours each night screening stocks with a price range in the 1$-3$ range. I use this and average volume versus the day's trading volume as two of the three big indicators I am looking for. The other indicator is 25-50% price appreciation for the day. I have found that most stocks that appear to be ready for a run have at least 2-3 times normal volume. The float is also something I consider strongly and compare the float to present volume. If I find an issue with a very low float with volume of a few hundred thousand with and average volume of a few thousand it's usually a good indicator for me that something is cooking provided it hasn't already seen considerable price appreciation. I have done very well with these last three picks I made this week by using these methods. Here are the trades which I was able to make a considerable profit. Although all of these positions have went higher after my sale, I'll take my profits and look for another prospect. Here were my last three issues with purchase vs. sale price. 04/07 (Bought DNET @1 3/4) 04/13 (Sold DNET @ 3 1/4) 04/08 (Bought GCHC @ 1) 04/16 (Sold GCHC @ 2 5/16) 04/15 (Bought DDEQ @ 2 1/8) 04/15 (Sold DDEQ @ 3 1/4) I probably made a mistake today and bought back two of these, GCHC and DDEQ. Just felt that these two had a lot of upside potential long term. Hope I can be patient enough to just forget these two for a while and see what happens. I picked up a few shares of KYOM today because of the very small float and the recent news release. Looks like the mms are holding this one back. It seems to be building interest on SI and should allow me to sell early next week (I hope!) The tricky thing with this type of investing is it's very hard to place a limit order pre market and I never use market orders. Not knowing for sure whether it will gap up at the open makes it difficult to decide on a limit. I am often too busy at work to place an order after the open. When I purchased DNET last week, I attempted to place a limit pre market but my limit order was too low and had to pay consierably more to get in. These are just some of my thoughts and recent patterns that seem to be working. Still haven't quite learned a good method for selling a portion of my position and letting the rest ride. Seems it would be well worth using this strategy to prevent missing the home runs after I have exited with a single or double. I don't always trade in even blocks. I may only buy 100, 300 or 500 shares which makes it a little more difficult to do especially considering having to pay commissions on the back end twice with such small positions. Thoughts and comments welcome and thanks to all that have provided their valuable input. Fred

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next