Legal Disclaimer

All opinions expressed on this site are those of the author and may contain errors (I make mistakes) or omissions (I am not telling the whole truth).

!Thank You!

Wednesday, February 4, 2009

Pennies Not Accepted !!!

For all the new followers, please read the Jan 2009 archived posts on Charting. That is the system I learned from a blogger which works very well, provided to you in details without any monetary cost. Let me know if you have any questions, but make sure you read the comments to make sure it has not already been answered.

First, English is my Second Language (ESL); therefore, you will not find any five paragraph essays here. I love using that excuse! This might just be the one exception.

I do not take profits on pennies; hence, I won't sell a position for 10 cents or 50 cents profit. Think about it. By the time I post, the stock may have already moved by that amount and is useless to you. The mininum profit is $1.

I may have a higher risk tolerance than you. Once you have a least $2 profit in a position, I would suggest putting in stops to protect your profit.

Here's what my order entry looks like.

This is how I know I had a $5 profit in FAZ today from the buy at 49.4.

My timing is not always perfect, e.g. ESI short, but profitable as of today.

Lastly, I never want to be a sheep. Any portal will have good and bad, pump and dump and there are no exceptions. Face it and deal with it so you won't become the sheep.

Lastly, I am always curious as to who reads all this crap. So drop a comment if you haven't already.