See the video for my important thoughts on a few horrid mistakes I made today. I was still up for the day but I should have made $1000 more than I did. Furthermore, I was lucky: my mistakes could have caused me much worse losses.
Today’s profit: $457.53
Disclosure: No positions. I have a disclosure policy.
#1 by alvintantri on September 16, 2009 - 8:26 pm
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hahah… Nice on the ‘Tim effect’!! Tim Sykes still did not want to admit it that his alerts causes some effect especially on small cap stock.
Mentioned it once and calling me morons etc. insisting most of his trades were perfect breakout. Perfect breakout my ass!!
#2 by Reaper on September 16, 2009 - 9:38 pm
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A lot of what people call the ‘tim effect’ is just tim picking to enter stocks at pivot points. The tame move after Tim bought OPXA shows the size of the real “Tim Effect”.
#3 by Reaper on September 16, 2009 - 9:38 pm
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No watchlist for tomorrow. Seriously, nothing looks very good. I’ll post interesting pre-market gainers tomorrow morning.
#4 by Preston on September 16, 2009 - 9:50 pm
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Bad thing about that trade was me not selling when the action told me to do so, it was plain as day watching the orders come in and seeing it stall at 4.24.
The above mentioned is all in hindsight of course and it goes back to what you have said about mastering something, making a trade will become every day stuff and whether you win or lose you will know when you’ve made a good trade or a bad trade.
#5 by Reaper on September 16, 2009 - 9:51 pm
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“making a trade will become every day stuff and whether you win or lose you will know when you’ve made a good trade or a bad trade.”
Yes!
#6 by alvintantri on September 16, 2009 - 9:58 pm
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Reaper is a trader with personality. Unlike douchebag tim sykes.
Reaper if you read tim’s blogpost you can see the difference between his and your blog. Your blog is full of useful, good-intention comments. Tim’s blog is full of Tim-haters and Tim himself bashing the Tim-haters. Did you know he even bashed his own subscribers, those people who are willing to spend his hard-found money on him… Unbelieveable
#7 by Preston on September 16, 2009 - 10:05 pm
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alvin, I think that’s more like tuff love.
I would much rather take a good ass chewing once than to mess up twice, but I am a strange one though.
#8 by alvintantri on September 16, 2009 - 10:10 pm
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Preston is an admirer of Reaper seems like. always see your post everytime. See you got a great role model trader with personality here.
#9 by cwn6161 on September 16, 2009 - 11:25 pm
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Tim’s early blog posts are a lot like reaper’s. After a while of people asking things over and over, I think he’s gotten frustrated. And while he may be stern with his followers, I think he really wants people to learn the game correctly.
#10 by Preston on September 17, 2009 - 8:09 am
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IVAN could be a pre-market leader but it’s a oil play.
I have not done that good with these lately.
#11 by Preston on September 17, 2009 - 8:15 am
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AMR has broke out and gone vertical.
MGM looks the same except it’s not vertical.
#12 by Joe on September 17, 2009 - 8:39 am
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Reaper: On Scott trades Scottrade Elite it works the same way — yesterday I looking to make a fairly heavy buy into a sub dollar stock so I have everything filled out — then clicked on another chart I was looking at (C) and did not notice it changed my order entery screen with the new symbol, but left my old qty in there — I *almost* bought 20K shares of C — although looking at them that may have worked out in the next weeks, I really do not feel like going “ALL in” on them!
#13 by Preston on September 17, 2009 - 8:45 am
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YRCW has a decent looking setup to go short, had it’s first down day and the volume went down by a third.
#14 by Reaper on September 17, 2009 - 8:48 am
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long 20k GVBP @ .2613 … had best bid very low in pre-market. Some others who did same thing and got filled earlier already had their trades canceled. Hopefully mine doesn’t get canceled. Problem with this type of trade is if I sell I may be going flat or I may be going short. I won’t know until after the trading day is over today.
#15 by Reaper on September 17, 2009 - 8:51 am
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If I sold now and my trade was not later canceled I’d make $5574! Investorslive thinks GVBP should bounce today, so I hope he is right.
#16 by Reaper on September 17, 2009 - 9:02 am
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Ah, my GVBP trade got busted. -$26 in commissions.
#17 by Reaper on September 17, 2009 - 9:25 am
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Pre I see: ymi amr grz hytm apcvz rnn bbi ivan spr btn spde solf cers sqnm
#18 by Joe on September 17, 2009 - 9:25 am
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When you get a sec….
How do you trade in pre-market with a stock that does not do pre-market trades? I am used to using the nasdaq site for premarket quotes.
Thanks in advance….
#19 by Reaper on September 17, 2009 - 9:28 am
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huh? OTC stocks can trade in pre-market. Usually they don’t, except for highest volume ones.
#20 by Joe on September 17, 2009 - 9:27 am
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FYI — at least one day pump on XODG – on scottrades restricted list so will require call in to them to purchase after open…
#21 by Reaper on September 17, 2009 - 9:29 am
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A reason not to trade pennystocks with Scottrade.
#22 by Reaper on September 17, 2009 - 9:28 am
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YMI BTN SPDE nicest charts of those.
#23 by Joe on September 17, 2009 - 9:47 am
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OK thats it….I am DONE with scott trade.
XODG – called in a order at .81 for 10K shares….put on hold
Now at .85
now at .87
Hello…can I help you? — placed order now .92
too late….99 cents now.
Lets see 1.00 – .81 * 10000 = No longer a scott trade customer.
Still trying to decide between IB and TOS – I have the TOS account opened but needs funding. Will start TOS paperwork now.
Too bad…I just got used to the ST software and like it.
TOS and IB’s software looks confusing at first. I am just going to spend some time in both today.
Good luck to all today!
#24 by Joe on September 17, 2009 - 10:07 am
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sorry…add a 1.00 to above prices….either way — was planning out at 2.00 so still missed out on a easy 1,000 move.
#25 by john c on September 17, 2009 - 12:57 pm
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SPDE … consildated at 8.. only 31 million market cap. still has room to grow, has been spiking the past few days, just got FDA approval, and this pattern is the pattern i was telling you guys about before… look at RTK VG WAVE CPRX TIV etc.
I may go long between 1 and 2 this afternoon.
#26 by Reaper on September 17, 2009 - 12:58 pm
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Yes, I’ve also mentioned before the way that low-float stocks can run … might be nice for a few days.
#27 by tbohen on September 17, 2009 - 3:00 pm
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Guess I’ll comment over here since Timalerts is down looks like hard this time…
Man its a bummer there have to be limits of shares to borrow. You could see the fall of SPDE coming from a mile away.
#28 by Reaper on September 17, 2009 - 3:01 pm
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Sogo had shares.
#29 by tbohen on September 17, 2009 - 3:02 pm
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If only longs were that easy to spot!! Of course maybe they are for some people but sure as hell not for me…
#30 by tbohen on September 17, 2009 - 3:03 pm
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No shit! Were you watching it? Did you play it?
#31 by Reaper on September 17, 2009 - 3:04 pm
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I was watching it for a long … I have a hard time switching gears mentally so no, I didn’t play.
#32 by HowtoTradePennystocks on September 25, 2009 - 9:31 pm
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Great info, I liked it, keep posting.
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