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Official Penny Stock Day Trade / Short Term

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Mar 17, 2020
381 posts
418 upvotes
Sunway wrote: I am holding for a potential SPAC. In addition, this is my leftover gamble money after I sold my XSPA.

You know how I feel about XSPA.
look into ATAC
[OP]
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Sep 21, 2007
10814 posts
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Winnipeg
so happy i sold uavs at peak.. looking for re-entry.. Might be mid 5's come Monday.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
[OP]
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Sep 21, 2007
10814 posts
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Winnipeg
mvis.. looks like I'm using all profit to buy back in more. haha.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
Sep 27, 2020
1090 posts
3154 upvotes
WWR continuities to get support at that 5.20ish level. If it loses 5.20, 4.80 not out of the question.

Again, this is a longer swing for me. I've posted the catalysts that are coming. Very confident we see a ripper in the coming weeks.

New swing idea: OPTT
Submarine battery play that also focuses on using ocean wave energy - basically the most Biden play ever haha! Stock has run up huge twice in the last couple of months and we have a VERY nice cup and handle forming. I have not taken a position yet - another pullback would form the handle for our cup and handle trigger to the upside.
Member
Jul 14, 2020
417 posts
360 upvotes
faken wrote: mvis.. looks like I'm using all profit to buy back in more. haha.
I’m hoping it goes up after the holidays..sold half my position at $9 but now I’m down 20%.
Deal Addict
Sep 27, 2020
1090 posts
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Keep on getting pms about my twitter account so I might as well just post it.

@CDNGreenTrader

I post a lot of different ideas on there so definitely do your own DD. The limit on # of characters doesn't allow for the same depth of background that one can post in a message on this board.
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Aug 4, 2014
3963 posts
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Toronto, ON
faken wrote: mvis.. looks like I'm using all profit to buy back in more. haha.
How you’re not afraid to buy/hold/DCA into something whose charts look like it’s giving you a finger? :)
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[OP]
Deal Guru
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Sep 21, 2007
10814 posts
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Winnipeg
freilona wrote: How you’re not afraid to buy/hold/DCA into something whose charts look like it’s giving you a finger? :)
LOL. That's awesome.

Because I'm buying in with profits. :)
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
Apr 8, 2001
1010 posts
868 upvotes
how do you find these?

Actuary20 wrote: WWR continuities to get support at that 5.20ish level. If it loses 5.20, 4.80 not out of the question.

Again, this is a longer swing for me. I've posted the catalysts that are coming. Very confident we see a ripper in the coming weeks.

New swing idea: OPTT
Submarine battery play that also focuses on using ocean wave energy - basically the most Biden play ever haha! Stock has run up huge twice in the last couple of months and we have a VERY nice cup and handle forming. I have not taken a position yet - another pullback would form the handle for our cup and handle trigger to the upside.
[QUOTE]Most of the things worth doing in this world, have been declared impossible before they were done.[/QUOTE]

Heatware: JetLi
Deal Addict
Sep 27, 2020
1090 posts
3154 upvotes
JetLi wrote: how do you find these?
Research. Lots of research.

The more time I put in, the better the quality of my watchlist. The better the quality of names in my watchlist, the better I can time entries.

I've learned the hard way - in the past I'd prioritize quantity over quality which means less money in all of the set-ups. Now I only play a few names at a time with more money in each set-up but these are low-risk/high-reward plays. It's a risk mitigation strategy with a tight stop-loss at all times.
Deal Addict
Mar 30, 2018
1019 posts
940 upvotes
What is your typical stop loss? 10% trail limit sort of thing or you put a stop loss at first PT?
Actuary20 wrote: Research. Lots of research.

The more time I put in, the better the quality of my watchlist. The better the quality of names in my watchlist, the better I can time entries.

I've learned the hard way - in the past I'd prioritize quantity over quality which means less money in all of the set-ups. Now I only play a few names at a time with more money in each set-up but these are low-risk/high-reward plays. It's a risk mitigation strategy with a tight stop-loss at all times.
Deal Addict
Sep 27, 2020
1090 posts
3154 upvotes
srz5095 wrote: What is your typical stop loss? 10% trail limit sort of thing or you put a stop loss at first PT?
I don't use a trailing stop loss. I base my initial stop-loss just below the last support line and then after I've hit my first PT I move my stop-loss up to that. This is why I got stopped out of DM earlier this week when it had a mid-day meltdown.
Deal Fanatic
May 22, 2003
8323 posts
5173 upvotes
Vancouver
I set a sell order for KWE.V at $1.50 not really expecting it to hit, but somehow it did (avg cost was $0.77)
[OP]
Deal Guru
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Sep 21, 2007
10814 posts
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Winnipeg
out completely of UAVS... will wait for re-entry.. overall 180% profit.. Merry Christmas.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Deal Addict
Sep 27, 2020
1090 posts
3154 upvotes
I've been getting some charting questions so I'm going to start posting more charts and tips and what not.

So I mentioned OPTT - what did I see?

Well I saw a cup and handle pattern developing and the pullback today confirms it may be coming into shape. Here is the chart:

Screenshot 2020-12-24 121851.jpg

So before I talk about the chart, let's talk about different charting timeframes.

For swing trading, I mostly use the daily chart but it may also make sense to look at the 4HR or even 1HR. For day trading, the 5 minute or 1 minute chart makes much more sense - especially if you're scalping (in and out for a quick gain).

So this OPTT chart is a daily time frame - each candle represents one day. On the 1 hour chart, each candle represents 1 hour...that's all it means.

For an explanation of a C&H:
https://www.investopedia.com/terms/c/cupandhandle.asp

You guys know I love the bullish pennants and triangle patterns but the C&H is also bullish as heck because the pullback forming the handle usually happens on low volume.

Now, I'm still watching this stock - I don't have a position yet. Why? It doesn't make sense to take a position if this handle plays out because that means the price is going to continue falling to fully form the handle.

Let's see how this plays out the next few trading sessions.
[OP]
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Sep 21, 2007
10814 posts
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Winnipeg
@Actuary20 - what's your opinion on BFT? Foley Trasimene Acquisition II Corp
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Sr. Member
Sep 18, 2019
876 posts
760 upvotes
faken wrote: @Actuary20 - what's your opinion on BFT? Foley Trasimene Acquisition II Corp
I owned a small position on BFT and I bought it around $13.XX. With Paysafe now as a payment option for Microsoft store and xbox.com. It sounds very promising to me.

@Actuary20 - should I add more if it goes above $16 on Monday?
Deal Addict
Sep 27, 2020
1090 posts
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faken wrote: @Actuary20 - what's your opinion on BFT? Foley Trasimene Acquisition II Corp
Sunway wrote: I owned a small position on BFT and I bought it around $13.XX. With Paysafe now as a payment option for Microsoft store and xbox.com. It sounds very promising to me.

@Actuary20 - should I add more if it goes above $16 on Monday?
Honestly one of if not the best SPAC of 2020 IMO.

I haven't spoken about it all on this board because I don't really go long but the long-term upside here is absolutely massive. But for a swing trade not on my list - there are so many better options.

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