Alright, Sunday night my goal is to really focus in on how to trade these OTCs the best (since they’ve been hot) how to stop saying “oh nooooooo” I held too long. Even though most times I write on scan I’m looking for AM strength to lock in gains, subscribers still love to hold even if it breaks red – so I’d like to cover a bit about that and one example of the “IDEA” behind it has been Jammin Java Corp. (JAMN.OB) regarding morning strength let it consolidate and if it starts to perk into close, take it again.
The other topics more importantly is Nasdaq’s and just the fact that ya, you’re going to miss them sometimes but that doesn’t mean emotion needs to get involved and chase the pop. You know how we roll, there’s always another one coming. Focus on the flat line consolidation and watch for a perk off it. I have a bunch of screen shots from this week and last of calls made during the day “text book chart” “gearing here – watch for perk” etc.
The overall goal is to have everyone focused (since we again have a lot of new memembers) but I won’t be here next week since I’m taking a week off. Usually we have some incredible days after we cover all this stuff in seminar – so between myself, Muddy, Laura and any other mod on Sunday night if we can dump the most information on you – you should have a fantastic week – I say this only because every vacation I take the chat room get’s on fire and there’s intraday 200-300% movers (seriously every vacation I take).
So I know you guys don’t like to read but new members and those that haven’t review any yet….
BEFORE submitting a question, BEFORE Sunday – PLEASE review the following:
3 Favorite charts – POWERPOINT / CHAT LOGS
OTC Trades – POWERPOINT / CHAT LOGS
With that said – Comment section below – Send in your questions!
Can you make some partial time for new members ?
Usualy this a good time for “usual” questions and dont have interest for the rest of the traders with more time.
Im new in your room and I have many problems for understand what happend, becuase (for me) is not clear and the traders use many “outside” words.
Another thing is if you can coments about LEI is this last 2 days.
And how do you the process and trade.
Thanks in advance
Dr Jorge Porto
Can you be specific? What questions do you have about LEI?
We have a back to basics for new members if you look at the seminars and also – review the 2 I suggested, but if you have “basic” questions then feel free to ask – we’re here to help …. many times others will have the same questions but just don’t ask
Yes I read the same questions for another people.
Yesterday you take 2 good trades long , but I dont know why you take at this level.
Today you post pre market posible short at open, then the stock run up and i continues looking for good point of short, but the other trades tell that go long ? why change ? what was the point where you can change your desition?
Another people tell in the trading room, many people write amny simbols and “posible” entries, when Im new I dont know (and dont have time for check all) is this people are good or bad trader.
I sugest you need to put more clear what “you” are doing and thinking.
For me, sorry is imposible to learn when I feel confuse many many times.
Maybe you have your system and works fine for you, but I belive for news traders in the trading room is realy confuse.
When I trade if I need to read “all” is imposible (for me), maybe if you have voice (only for you) can help to peoplw who try learn your system.
THanks
Are you referring to LEI? If so you have to look at the plan.
Plan 1: Buy the dip at open if it gapped down (continued weakness)
Plan 2: If it gaps up and pops (ie: parabolic move like I covered in the 3 favorite chart set ups) then I’d be short biased
When it does neither, you need to have the ability to change your mindset.
Fact is, they aren’t always going to do exactly what you may think. If they don’t .. don’t force a trade. It was slow and steady and perking off consolidation all day – you have to adapt. Never said it was a “short” only it was a short if it popped and did as I cover.
Regarding entry and exits – as you know if its a liquid stock entries are clear for me – if its illiquid or I feel that I could move the market – I don’t.
I don’t expect that you get it within a week of being a member – it’ll probably take you 3-6 months to momentum trade successfully. Our chat room goal is not to tell you BUY and SELL like newsletter and text IM services, so if that’s the thought here, that’s not what we offer.
I do post entry and exits on liquid stuff – and will continue to do so.
HOWEVER most times I post a plan, I have a plan on scan, I have a plan in chat that I state, watch if $X breaks with volume etc… part of becoming a successful trader is being able to take the idea and pull the trigger yourself. That’s what the goal is here.
I will cover a bit more of this as well tonight, I just wanted to clear any confusion with my last reply.
Will answer some of these but as I prepare the powerpoint it just seems like new member questions which is normal.
What I would do is check the seminar I had suggested above.
What I said was extremely clear – check chat logs, possibly just a bit of confusion on your part – which is fine, just PM me next time!
We won’t be having voice in the chat room.
It’s not impossible to learn, it’s impossible if that’s the attitude you have going forth. It’s all about what you do with the knowledge at your finger tips. If you ask questions and ‘try’ to learn then we’re here to help, but if you continually tell yourself it’s impossible, you’re right.. it is. We help over 300 people monthly, it’s just what you do with it. If you just come to be hand fed it won’t work out, I can tell you that right now. It’s about becoming a trader and learning to anticipate it.
How do you guys follow/watch so many stocks seemingly all at once? I study your scans every night, then the next day in the chatroom, there are soooo many tickers being thrown out that I simply can’t follow them all.Then by the time someone calls them out, I’ve missed the big move (GMET, SYNM, SCON, LEI, etc.).
Sometimes they accumulate and pop again later (like GMET), sometimes they don’t. How are you pros able to consistently watch so many stocks in play so closely that you don’t miss ’em? Is there some special software/website/tool that I should be using? Are y’all clairvoyant?
this question – which is much like Nick’s question above re spikes . . . . is really at the heart of why I will likely end up in a straight jacket trying to trade with this chat. Does anybody know how to manage and make sense out of what happens in chat?
FORMER RUNNERS is the answer to your question. Anyone who has been in chat for the past lets say even … 3 months know FUQI.
But if you go back over the last year + obviously everyone knows FUQI.
The point here is it’s former runners, you’re not going to get it over night. I see some questions (a lot from new members which makes sense – you’re not going to get it over night)
A lot of what we do is based off stuff we’ve seen before. Stocks we know have ran before
Monitors, homework and the right tools is how to actively manage – I will cover some tonight but our chat room is not a chat to just come in blind and think you’re going to make $. It’s about preparing and understanding risk vs. reward. We see FUQI pop off a VERY beat chart – former runner (we’ve known it has ran big in the past) and it’s coming off sideways consolidation as we go over in every seminar + volume to update etc – will cover some of this tonight. Everyone watches this stuff differently though.
Take Muddy for example he can just look at a ticker and price whereas I have to see the chart too intraday.
Could you define “print” or “printing”? I often see comments that a stock is “printing” a certain #.
What does this mean? Does it only apply to afterhours or premarket action?
Printing easy one – I’ll do now rather than seminar – print just refers to the actual prints on the tape (time and sales) pre market if it starts hitting usually means demand is there pre market and very well can pop outta the open
Pre market action only, OTCs don’t trade after hours
Could you elaborate on a recent bounce play? You killed LEI playing the bounce on Thursday. How did you know it was going to bounce so hard? I know this is your specialty, but was it based on the big run up the day before? Was this an example of a overextended stock? (ie: was it overextended because it ran big time the day before?).
Could you go over your strategy for getting into a long position? I know from reading other seminars you don’t go to a full size position right away, you might take a 1/4, or 1/2 size position in a stock. What determines your size? What drives your comfort levels to add/reduce your position?
Are there any tell tale signs of when it’s good to buy into a spike? The few times I’ve tried I end up buying in near the HOD and end up with a losing trade. Then a alert like FUQI comes across so I bring up the chart and pass on pulling the trigger because I don’t want to be left holding the bag again. Then it ends up being a move that would of saved my day. Thanks.
FUQI was 4.25 when I alerted I bought.. I’m assuming you missed that if you felt it was up too much? I said risk was ” a dime ”
I’m just asking to get a better understanding of your mindset
Also, did you look at the chart on 6 months?
I am prepared to discussed I captured the chart when I alerted.. But just wanted to know specifics
I didn’t look at the 6 month chart of that particular stock at that time. I pulled up the minute chart of the day and it looked similar to other charts I’ve been burned on, sideways churning then a big green candle. Yes, I thought by buying right there I’d get in right at the high again. I must of missed the risk/dime comment. Still getting used to chat.
Had a OK day with LEI yesterday. My third buy on that one I held overnight in at 2.24. Normally I am home during the day but today I had a morning appointment which I had forgotten about when I bought it so I sold it in pre market this morning at 2.35 since I couldn’t be here to watch it, felt pretty stupid when I came home and seen how much it gained.
Sorry, had my quotes wrong, 3.24 & 3.35.
IL i felt the same way it seems that anytime i catch a good alert it by the hods and then it falls i saw fuqi when you alerted it looked good but felt that since it moved .20 cents already that i missed it then it gained another .80 cents, starting to feel like a stock jinks that when i get in its time to go down, did that all day today…RAME, EMKR, AND USAT… 2.37, 3.07, AND 2.67 respectively what am i doing thats so wrong??
I’m not sure how long it’s taking you guys to pull quotes up! Look at chart … it was same price for a good 5 minutes. I will go over again but pay attention to the beat charts guys – FUQI just pull up 6 months
EMKR What do you mean? When did you buy? I said my plan was to sell into the pop over $3 break, did you wait until you bought into the $3 break?
RAME and USAT didn’t play but if you state a play I can try to help
ok EMKR i guess is my fault because i bought at 3.07 when you were selling i misunderstood i thought you were looking for the 3 break for it to run…… RAME i played as i did LEI oil consistently moved up all day so did LEI for the most part, rame was moving steadly upwards when i got the alert in chat, thought it would be a good play being an oil stock as well and as soon as i got in at 2.37 it consistently moved down for the rest of the day ending the day at 2.04…… USAT saw a great move upwards,alerts in chat, bought in at 2.67 hod was 2.75 and then flat lined the rest of the day around the days support of 2.40, i want to know how to avoid predicaments like this and how to notice stocks like FUQI still have alot more room to run.
For me it wasn’t an issue of how long it took to pull the chart up. I think I was just gun shy about buying into a spike again. I think LEI was easier on the previous day because it was a day of constant dips and peaks. I would like to know how to play moves like FUQI in the future. Whats key in buying a spike, volume, news driven, level II’s ect…. I see what you’re saying about it being a low risk trade looking at it now, not being far from the 52 week lows. It’s one of those instances when you are looking at it after the fact and it’s clear as day. During chat there’s so many tickers coming across a different times it feels like a crap shoot deciding on which one to focus your attention on. But much like Charlie Sheen I’m going to do what ever it takes “to be winning” and get this figured out. 🙂
Also, the one thing I’d ad here is IL sometimes you put out an alert and you’ll say you”re in the trade and other times you don’t. Are you in every alert you put out? The last few days I’ve tried to shadow any trade you said you were in at a specific price. Maybe if I had seen you say “FUQI, in here @ 4.25” and the price wasn’t too far away from that by the time I pulled up the chart I probably would of had more confidence in taking the trade. Like I said, I’m still trying to get the swing of chat here. Thanks.
Looking at the chat logs now and I see where you took the trade, maybe I’m missing stuff when I checkout the charts. I’ll just working on getting better and just focus on your alerts, I think I’m easily distracted by other calls coming out at the same time and I bounce around pulling up various charts trying to figure out which one I might take.
Can you tell me the differences between trading OTCs and Nasdaqs.. right now I’m trading a bunch of OTCs but would like to expand my profitability and would like to learn to trade the $5+ and the $10+ as well… how should I approach trading big boards (sizing, level II, etc)
Nate,
Using ZAGG as an example, what are you seeing that made you say “short biased on gap up and $8.50 fail”? What exactly were you seeing that made you believe this would fail after testing 8.50, considering if came from +9.00? Thanks for all the great help that provide.
IL: Last Friday VTG and FUQI popped off consolidation about the same time. FUQI did lot better. VTG almost a fail after the HOD. Was there anything at the start / during the run-up that can help differentiate between good and fail runners? In this particular case (VTG vs FUQI)
Recently I got EF but I am unsure how to set it up (best scan/parameters, etc). My ‘tiger blood’ is not in technology. I see the ‘scanner setup’ is posted but I do not think I could ‘figure it out’ for optimal performance. I know Nate you will be on vacation – Enjoy:-) – but I am wondering if there may be time once back for an AH mini-talk/guidance? I wish to day trade as professionally and, as optimally as I can.
EGOC: I was holding for many weeks ($2k, entry at 0.002) then sold Friday during the last 30 minutes of session at 0.0023 (given it broke resistance at 0.002), only to see it break to 0.0025/close. I anticipate Monday it will run – at least for a while. Is there another way to ‘gage’ my ask price – I watch L2s closely – (make green-er without ‘koolate’) beyong looking at the 6 MO and daily/minute chart? I have long struggled with being an ’emotional investor’ and, I have (somewhat) changed my mindset from being a swing to being a (work-in-progress) daytrader.
Many thanks,
Neo
In the seminar labeled EquityFeed is my scanner settings, other than that I’m still learning too each day and trying different settings.
Sub pennys I only trade momentum – stocks will go up, stocks will tank… in the end it’s usually better that I’ve taken profits – EGOC my only suggestion is if you had a plan going in and you stuck with it… then you did fine, win or lose.
Could you go over in more detail those “3 favorite setups” for trading the sub stocks & what exactly you see in the pattern & volume that tells you to go long or short.
Thanks,
Hunter
We don’t short sub stocks (sub penny stocks?) nor would I reccomend it, plus it doesn’t make sense you need $2.50 margin for every share. Let’s take a scenario and you short 100k shares at .005 (only $500 bucks) you need $250,000 to even short that! Makes no sense.
I would stay away from sub penny stocks unless you have another side account that you use to trade these.
If you didn’t already do so, I would suggest reviewing the chat logs with the 3 favorite set ups, that’s where I go into detail, if you had specific questions after that or a follow up please post it here
Hello,
Can we get more visualization in chat with more charts like it used to be. It is very difficult to see and understand what you see in your head as a trader when you trade. I would really appreciate seeing each chart that you talk about in seminar and understand why you thought it is a potential trade or short.Thanks and great job!
You’re asking about seminar right? If so, yes as I wrote above I will have some visualizations of charts from the past 2 weeks. As far as prior weeks and not having them – it comes down to you guys, if you want stuff covered at seminar questions need to be asked, if not – we don’t prepare that stuff. We dedicate at least 2 solid hours + to member questions that come in… if they don’t come in… it’s open Q and A.
Hello,
I did a horrible job with TDGI. I bought at average .054 and was very happy for a few days. I didn’t worry when there was a pullback. Then the pullback continued and my losses started adding up. I got nervous it was more than a pullback and sold at a loss. I have been trying to take my losses quickly and was mad at myself for waiting on this one, but loved the chart and thought it would turn. It did of course-after I sold. Was there any indicator I should have been watching to tell me to hold? Should I have sold at my usual $200 loss and re-entered at a lower price?
Another one: I followed your advice from chat to buy in the afternoon and sell in the morning. Love this strategy and made nice money on LBYE for a few days. Friday was a different story. I am at a loss now-not a lot- and am pretty sure this will go up. Should I look to reposition myself or sit tight if it continues to pullback.
Will cover these tonight for sure.
LBYE I was going to cover as I had suggested just trade it like we were on JAMN. JAMN was a picture perfect example of how to trade gap/OTCs etc sell in AM and rebuy on strength intrday/into close 3PM +
TDGI .05 was avg had stated many times keeping avg low etc but if the chart would have ‘broken’ I would have sold like I did on MDMN I will cover this though. It’s must like MDMN the first time (search the recap on MDMN on investorslive.com)
Thx for question.
Good questions guys – I will cover/merge a bunch of these
One thing to keep in mind – you’re not going to get things over night.
Momentum trading is about REMEMBERING symbols aka FORMER RUNNERS. It’s not magic. It’s about developing a plan that you find successful for you.
Additionally, charting at night is part of the homework.
We played FUQI less than 2 months ago off the SAME chart, bunch of days it sold off in a row, 0 bounce and then al of a sudden big volume and reversal – your risk becomes where it bounced off the lows as a ‘stop’
When trading a stock from your “inbox” and it fits criteria and they paid x amount of dollars for promotion. When do you buy it at open or do you wait for the technicals to set up? I mean to ask do you just “jump in” because alot of money was spent or do you wait for a setup? And if you wait for a setup what setup is it?