Let's rocking and roll!
Tired of the politics on ET, I am moving out of there.. I can post whatever I want.
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17 comments:
Hey PT. I will keep up with your progress. I enjoy viewing your charts. I am trying to deside to go with Esignal or not. I just subscribed to Optionmonster. That made a BIG dent in my monthly costs of business.
Scottrade doesn't have a stock screener any better than yahoo's. What suggestion might you have for stocks that peek your interest. I stick to high volume nasdaq but end up trying to follow too many stocks at once.
Do you usually have more than one stock/open interest at a time?
Good luck with the new journal,
I'll be back. :)
Keep up the good trading PT
Hi, stocky, thanks for drop by. I've been using stockftecher.com to screen for stocks, you can screen the stocks by sector, market cap, OS, float, earnings, or any technical indicators. I've not followed too many stocks, almost each day I play something new.
Yes, I do trade several stocks at a time, I also trade for some friends, I messed up a few times while trying to do several things at once.
the third to report to this blog. Good luck to all. Keep learning and gain confidence; that is what I am doing anyway, eventhough I have traded stocks and options since 1996.
Good luck on your new blog.
By the looks of your new blog, you have good computer skills too. Makes mine look like crap. Now I'm going to have to spend precious time trying to spruce up mine, thanks to you.
I got some ESRG the other day at 2.02 and now it's at 2.14, pretty nice. Looks like I owe you one.
Slotmonkey,
Thanks, I should have very good computer skills :-). I had worked in IT (network, server, PC, security etc) for over 15 years before I quit my job and started to trade stocks full time.
Tell you guys a little background about me.
In the early 1990s, before I got my dual Ph.D. in Economics and Management Information Systems, I started one of the earliest ISP ventures (Internet Service Provider) in South Florida with some lawyers and accountants, we hosted websites like Disney.com, PAG.ORG and many other high traffic websites, within a year, we developed about 4000 dialup users and a lot of ISDN/frame/T1 corporate clients in Florida.
That company was a public company and traded on OTC BB. I got 30K shares when I signed with the company, the stock was trading at $1 at the time we started the business. Then the Internet mania comes, in 1995-1996, the stock was trading over $10s! You could imagine how excited I was. But the good time didn't last long, the company didn't deliver the high revenue and the sale projections, the CEO and CFO were fired, the stock tanked back to a dollar, eventually, the company was merged with UU.NET, and then UU.NET bought by MCI/Worldcom. I had been working for Worldcom for several years until Worldcom went BK in 2003, my 401K was gone, all my 401K holdings were in Worldcom and MCI stocks, at that time, when Worldcom stock tanked to $2s, I kept adding more and more to average down because Bernie (CEO) telling us Worldcom had over $4 billion cash, no way we're going BK. In the end, I sold all Worldcom stocks in my 401K around 0.10-0.20, talking about a big haircut.
I worked for Worldcom Managed Services divison, basically we manage IT networks/servers etc for other Fortune 500 companies, these companies all wanted to terminate contracts with Worldcom after it went BK. At that time, my penny stocks like CTKH/SSPC etc made me over six figures, I thought I had enough capital to trade full time, no more need to worry my job security everyday, and my Worldcom 401K is worthless, no more 401K contribution, so I quit Worldcom.
That's where I am now, just trading stocks, but my computer skills are still much better than many. I was one of the earliest MCSE+Internet and CCIE back in 1997. I still own one of the top Chinese city domains :-) I hope you don't feel I am bragging.
Here is the frustration part. Everytime I told my wife please wait me a few more days to wire money from my account, my wife is getting very upset. She said I never had such a problem when I had a regular job, money was automatically transferred to the bank, she said I should go back to IT and get paid on a regular basis, she's tired of dealing with my late payment each month.
What she doesn't know is, in the past 3-4 years, so many things have progressed in the IT, I worked mainly on NT/2000 servers, now it is Windows 2003 and others, forest and trees, I don't know if Cisco IOS has changed or not, what kind of routers/switches they're selling, is the Pix firewall still used by the companies or Checkpoint is taking over all the firewalls? lol.
And most importantly, no way I could make what I used to make several years ago, this IT field is jammed with new graduates and cheap labors want to pay much less.
Slotmonkey, I think ESRG starts early next week. I heard mailers will be sent out this weekend, that's when TUBR took off from $3s to $4s.
My friends tested the support on ESRG later afternoon, they hit the bids $2.11, the supporters ate the shares without a down tick, they then bought back at $2.12.
Here is the mail I received from a friend who tipped ESRG to me at $1.60s, he is vacationing in Hawaii.
Sent By: xxxxxx Date: 5/17/2007 3:22:11 PM
thank you very much, hope you are enjoying the ESRG ride :)
I am told they have hardly started, $3 is possible. Man 3 people text me this morning and woke me up at 4:00 a.m. when it went down for 10 minutes lol
James
Again, thank you all for visiting the blog. I feel so much better by posting freely.
Have a great weekend!
PT, this is yc47ib, I was the third put in a comment in your blog (chen). I started my own trading blog (http://yc47ib.blogspot.com/) mostly for your criticism, only if you have time and interest. Dropping by to do any comments is helpful. And others who are interested in putting in meanful criticism on TA, stock selection and others are also sincerely welcome.
I hope I can also contribute to you and others useful and meaningful insight from my perspective.
at least you didn't have to deal with the uunet liars/losers in virginia...the abuse johns were ridiculous, even if part of it (on the first john) came from above his head. the second was a prick.
penny - replied to a private msg of yours on ET since i couldn't find your email...if you have one, pls let me know in a reply back there? tks...
PT,
Why do you trade these low $ stocks. [$1 -$5]. Are there certain advantages that you prefer in trading these stocks?
Stocky, I think that's my niche and is in the comfort zone when trading these $1-5 stocks. When the capital is small, I play the percentage gain on the movers. I usually buy 1K shares, cost me from $1K to $5K, really not much, when they moves, they could move up 0.20 to 0.50, and sometimes to $1, it is very easy to make $200 to $500 with $1K to $5K. When they go down, I sell for 0.07 or 0.10 loss, pretty easy to stop out too. The reward/risk ratio is very favorable.
When I trade stocks over $40 or $50 like QQQQ or AAPL, if I buy 1K shares, I would use a big margin. Losing $1K is 5% of my capital. And the chances are, when it moves down $0.20, I stopped out, and it is very easy to lose $0.20, sometimes in seconds. I tried, and I won't be able to take the hit and wait for the stock to go up, always stop out.
Maybe because I was using the $1-5 stock trading strategy. For $1-5 stocks, they won't move down $0.20 that easy, I could stop for 0.05 or 0.10 loss, but for big $$ stocks, even I put a tight stop, I always stopped out over at a big loss. And quick often, stocks like QQQQ's trading range is so small, like last Friday, 0.30-0.40, I really cannot make much even I play it perfectly. I don't have much capital to gain the $ I wanted or cannot take risk exposure.
Daniel,
I will create a favorite link to include your blog. I'll also add cashmonkey's blog. If anyone else have a blog, please let me know.
Thanks.
You told me earlier in the week the promo mailing is coming out this weekend and I'm thinking yea right.
I just got home and guess what I found in my mail, the promo piece on ESRG! My apologies for having doubted you, Doctor Penny.
I better fasten my seatbelts for next week, lol.
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