Penny Stock Trading Again
It’s been a few years, but I decided to try my hand at penny stocks again. I have been a very disciplined saver since around 1999 and my guy at Merrill Lynch has me pretty set for life. But, there is no fun in *HIM* controlling my money. I want to try my own hand in the market! (With a different pool of money!)
Years ago, I did the Timothy Sykes thing. I can’t say whether it was good or bad, but it just didn’t CLICK for me AT THAT TIME, so I lost a few grand and figured I was too stupid to trade
I was bored the other day. All of my kids have left for the military or for college, so I need a hobby. I re-activated my E-Trade account and was surprised to find almost $100.00 in there. I set up a link to my bank account and transferred a few more hundred over. BUT, for whatever reason that money wouldn’t be available until 3 days later.
I watched a few YOUTUBE videos from “Ziptrader” . I don’t know WHY i chose this particular set of videos. I guess they were short and sweet with particular explanations of terms and concepts I want to grasp. Plus a good video for stock screening, which I completely blew my last try at trading.
This was all on a boring Saturday night where I didn’t go out. ( I usually go check out a local 80s band on the weekend! ) By the time Monday rolled around my stock scanners kept giving me one consistent result…
2/25/2019 — Bought YRIV. 165 shares @ .49. Under $10, RSI <30, Volume greater than 1M. The price went UP (much to my surprise), but since I only had 165 shares, I didn’t sell at .59 or even as it briefly ventured into .60+. If I would have owned a SERIOUS amount of shares, I would have SOLD at .59 without a doubt. (Later that day) — YRIV down to .39. Will just hold this and see what happens. 100% against my Tim Sykes “education”, but it’s ONLY 90 bucks or so.
That was a Monday. I help this stock all week just waiting for SOMETHING. LO and BEHOLD, YRIV fought back against the negative press and filed some reports that stated they were, in fact, a solvent and awesome company. So, on Friday (1MAR2019) I have 165 shares of this stock that is ramping up at the end of the day and going into the weekend with good news and serious “After Hours” activity.
My thoughts on Monday morning after a whole weekend of positive After Hours activity and *LOTS* of online HYPE. ( I usually let the hype sway me, I was DETEMRINED to be smart this time!)
03/04/2019 — YRIV is up .51 in poremarket to a price of .96. Not sure what to do….with only 165 shares I should roll the dice for a big gain. (Lots of online hype about $2 or more by end of day!)
My notes from 12 PM – 03/04/2019
03/04/2019 – 12:04PM — Range for the day was .829 to 1.17. I set a stop for .97 and, DAMMIT, it was triggered. Thought I made a mistake as the price went up a bit soon after. But, YRIV trended DOWN the rest of the day. I made a tidy profit, but will STILL kick myself if it powers up to many dollars per share again. BUT, i didn’t let the online hype bully me into holding…i took an almost 100% profit and enjoyed the first worthy penny stock trade I feel that I ever executed.
It felt good to be on the good side of a “run up” FOR ONCE and not trying to buy in when it’s too late. REALLY enjoy the “FINVIZ” stock scanner.
I will share this post, but it’s really just for me to reference so I can say to myself….i looked at THIS, I felt like THIS, the hype was THIS, and I still executed a proper exit strategy.
I will be scanning tonight for my next opportunity! I wish you all the best of luck out there!! I don’t feel you have to dump a stock immediately if it loses steam. I see the same stocks in play over and over again. ( GLUU, WATT, etc….it seems like they ALWAYS are on someone’s watch list on a regular basis. )