Yes, from trading penny stocks, first it was SSPC (from 0.01 to 0.60), then USXP from $0.01 to $0.30, right before I quit my full time job, another stock went from 0.20 to 0.50 with strong volume, I had about over half million shares. Since the moderator won't allow me to mention penny stocks, I will restrain myself from mentioning penny stocks
PennyTrader, For your information: ......................................................... ....."If your account balance falls below $2,500, Zecco Trading does NOT restrict or close your account." ...."What is the minimum amount required to open an account? A minimum deposit of $2,500 is required to open an account. Once your account is opened, you can use those funds to purchase securities leverage for margin purposes or use as you see fit. It is and always will be your money. If your account balance falls below $2,500, Zecco Trading does not restrict or close your account." http://www.zecco.com/reference/faq.aspx ....................................................... Their commissions are also very reasonable. Check them out. I hope this helps. Your account statements are very impressive. Your only limitation right now is a lack of an adequate bankroll. Tom
Thanks. in some cases, each broker/clearing firm is treating differently, my account had $24986 right after I took out $5K, it was my mistake, I miscalculated the balance, plus I forgot to close a penny stock I own at the ask. I got this email: ********************************************************************* Your account has an Equity Maintenance Margin Call. The call is for account number 240117. The amount due is $16.00. ************************************************* Then the next day, even though my account is back to $26K, I received this email from my broker, I've no idea how this call is generated. Anyway, I wanted to leave the broker and forget about this pattern daytrading thing, I have one less worry in trading, the new broker gave me the lowest commission for the traders *********************************************************************** You currently have a Daytrading Margin Call. Your margin call is for $4,564.00. You need to cover this call as soon as possible. Your call was generated on 4/13/07. The call must be covered by 4/17/07. According to Penson's procedures, you will not be allowed to trade this account until you meet your day trading call. The day after you generate the call you will be issued 0.00 Buying Power. If you do trade, you will create a very large day trading margin call. You should always check your intraday and overnight buying power at the Penson website, (https://online.penson.com), prior to trading each day. This is essential. *******************************************
Allmighty1, In fact, volume change is one of the most important indicators I use for trading these momo stocks. If the volume suddenly died on a strong momo stock, retraction is going to happen immediately. On the other hand, when the selling volume dies in a strong pull back, the stock is going to bounce. In my chart, I have the volume change shows on the candlestick. Daily --> Hourly --> 15 minutes --> For a safe trade, I look for a yellow candlestick first, then expect a trend reversal, look for buy or sell signals after the yellow candlestick. Although in my charts , the indicator generates many buy/sell signals, but the ones right followed the yellow candlestick were the most reliable trades. Here is an example of one of my charts on DNDN, can I attache mutiple files?
Thanks. I will try my best to make it on my own I might talk to my two friends and took out some profits from their accounts if I cannot fullfill my obligations. Maybe I should trade one of my friend's $50K account more.
pairsarb, You know what, sometimes I wish I didn't quit my job When I had a regular job, I was trading emotion free and not worried to take out $$ out of the account to pay bills, I was an IT security guy, the only guy in the company has mutiple montiors on my desk. Right now, this trading is the job, I do enjoy the freedom to trade from home and take care of the boys to school. But I also have more responbility. I've to take the $ out of the table immediately when I see it, with limited capital, I've to keep the account as liquid as possible, I cannot hold any bags or make long swing trades, means I could miss some big gainers, but I keep small gains. I treat the stocks I bought as perishable goods, have to get ride of it before getting bad In the future, when I've enough capital, I'll divide some to short-term/swing trades.
PennyTrader, Your stock chart indicators prove you know when to take action. Excellent trading analysis! Your charts also look impressive. What Chart provider do you use? Tom
where are all the nay sayers now? traders that want to be good traders need to have an open mind to learn something new. I`m not saying that you have to accept everything, but at least give people a chance. I`m trading penny stocks myself and my record is not as good as PennyTrader`s. I probably could match him if I were prepared to sit behind the computer all day but I`m not. I became consistently profitable last September with a starting capital of $ 200,000 and making $ 4,500 on average per week. So it sure can be done. Look at penny stocks.....look at the chart.....plenty of stocks that go from 2 to 4 cent in 5 weeks and go back to 2 cents. Where would you jump in?