Feel Better:Complain About Anything, page-80244

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Joannie

13,210 Posts.

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14/02/22

14:15

Post #: 59556842
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Originally posted by kingpins: ↑

Hi Jo Jo
I used 7% as a point to aim at and modified as required due to buying pressure or lack of
I never used stop losses as they are far too slow t0 operate and when you are buying penny stocks there is not enough margin in the price for the S/L figure
Stop losses only work on stuff over $5.00 IMHO
Also regardless of the buying price when there was a recorded sale below my buying price I would sell even at a loss, there was only one criteria never lose money

I also bought 4 or 5 stocks a session on the basis of being 75% right
The stock I bought was a mathematical figure
The price ruled the amount I could buy within my budget, and if a 7% return did not produce sufficient profit for the risk I would choose another stock. And a 10% increase must have been a normal occurrence for that stock previously

Many stocks topped at figures over what I sold for but I worked on the basis of don't be greedy and profit by quantity not one off huge jumps
IE like playing roulette on black or white and getting 50/50 odds not 36/1 on a single number

Do the figures of 4 buys a day for 4 days and getting 75% profit and you will be staggered by the possible results

Naturally this system of mine only worked on the basis of NEVER leaving a trade open unless I was monitoring the sale action live, no toilet breaks no phone calls no coffee unless someone brought it to me
You have to develop your system after talking to others, my system may be unsuitable for you

Good luck trading

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Hello kingpins,

That is awfully kind of you to share your comprehensive plan
It does make a great deal of sense.
I like the part about stop losses being too slow, it takes one quandary away for me.

So are you saying that you only did day trading and never kept any shares overnight?
Being a lady, not ever leaving the computer for toilet breaks would be practically impossible for me.

So thank you so much for sharing this.

Jo Jo

PS I have a word document for good tips for trading and I have added yours to this.
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