As a trader you should look into each, Futures, Forex, Stocks, and Options. A good trader may not trade all but should have a good understanding about how each work and how the are related.
Also as @Big Mike noted, when you look at others journals I believe it would be helpful for you to look at the metrics and other ways people are grading their trades. Try and keep a detailed journal about each trade, if you don't your journal will not have enough info for you to review and determine what and how you are trading.
The key is to make your journal work for you.
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Odd that you would say that.... I read a whole lot of journals on futures.io (formerly BMT), and almost none of them are about either options of forex. Maybe that's just me.
Most of the journals/threads on futures.io (formerly BMT) are about futures trading. However, I would say that trading is trading, on the whole. As @Big Mike mentioned, if you can extract the psychological, risk management and decision-making aspects, you will get most of the value from other people's work. It's the process more than the content. The particular markets and techniques matter much less.
I will say that you would get a much broader range of inputs and information if you were to go for an Elite membership. That's your choice, of course. Just a recommendation.
Good luck, and I do mean that.
Last edited by bobwest; August 26th, 2014 at 07:19 AM.
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Interesting chart. Look at a ten year chart. this puppy traded near $100 at one time. Lots of overhead resistance as investors wait to get out at break even.
The problem with penny stocks is that when they move you can make a good percentage but you can also lose a good percentage.
I can't help you with any indicators. I don't use them but I like your strategy of buying near the low of the range. It looks like the stock moves 10 cents a day on average.
Right now it's consolidating. Note the lower highs and the higher lows. My bet is it will continue upwards. Notice how the up days were on good volume and the down days not so much. It's a similar pattern to what happened May and June. it might repeat.
I don't usually play the penny stocks but maybe I'll take a look tomorrow. It'll be a lotto play. Risk a little to make a lot.
Maybe get underexposed to work his voodoo for you.
It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
Yeah, it's interesting and looks to me like it's moving upwards overall. I don't expect to get it for 98 cents a share anytime soon. I think 1.05 is probably its current bottom range and I THINK it's good for between 5 and 8 percent gains within two days (more likely, same day) of any time it hits its bottom. So it's what I consider to be an ideal contender for
my trading style, such as it is, at this point in my development.
Its repeating behavior, low cost, high volatility, and high repeatable percentage gains mark it as just the sort of thing
that I'm looking for. Some gold stocks are similar but they don't get as high in percentage gains very often.
The only thing keeping me from having bought into it yesterday was the settled funds rule. If I am pretty sure that I'd want to sell a stock on the same day I buy it, then I can't use unsettled funds to do it as doing that would be freeriding
and result in my account being restricted to cash only. (But it IS a cash only account, so what's the real penalty to me
if I did that? Especially if I did it more than once?)
The next time it's around the low end of its range on a day I have settled funds to work with, it seems rather likely that I'll buy in.
So I decided to buy WPCS today, fully expecting that I can't sell it for another day due to the settled fund rule.
I put in an order for about 8000 dollar's worth and discovered this thing called a "partial execution" which feels kind of like having your head sawed partly off so maybe that's why it's called that.
I ended up with 175 shares at 1.05. That's 183.75 cost.
And it still cost me 7 bucks just to buy that measly 175 shares.
It'll cost me 7 bucks to sell them.
What are the chances I can just make back 14 bucks on this in the next couple of days?
It has to go to a value of 197.75 so I'll need 8 oercent just to break even.
I rewrote the order with a higher limit and "only" 4800 shares ordered and am waiting for it
to execute. It may not execute at all and that's OK with me. (Day order)
This, after speaking to my brokerage directly and getting an idea of what might actually be
available. Since the stock is very thinly traded today, shares availability is by no means
guaranteed for a larger order.