TALK ABOUT MOTIVATION!!

No one said it was going to be easy! And I am not talking about my blog and my journey to making a million. I don’t know what the future holds, things could drastically change tomorrow. While I am here though…GOT TO GO HARD!!

My Mom sent me this picture on her birthday for one of my organizations called “Campaign For Good Life”, which I will share with you later. But after looking at it I was like DAMN! …What am I complaining about? I complain about the stupidest things sometimes while this man is carrying his baby and making it happen!

The next time you come across something you don’t feel like doing remember this guy. Life is not easy and everyone has a tough path some tougher than others but in the end its what you make out of it.

TIME TO GO TO WORK! LETS GET IT!

MAKE IT HAPPEN

 

 

GV – MY FIRST SHORT SALE – PROFIT OF $105

GV or Goldfield Corporation is a Florida based real estate developer and utility transmission and distribution contractor. Well, they just finished up a big contract ending this quarter. GV has not replaced the contract and now do not have a backlog of work. Without more work means no revenues, this stock has climbed from the 1.50 range to over $5 for the last 7 or 9 months.

Fundamentally speaking this stock will correct itself on its current financial situation, I think it will end up low $3’s. I have to give credit to @Super_Trades for this pick. I am usually in his chat room and he is one of the most consistent traders that I know.

Once this stock was pointed out and every one on twitter was going in on it, I decided to buy 300 shares to short GV. I currently have two trading accounts, one with Tradeking (they suck) and one with TD Ameritrade or Thinkorswim (love them). I used my TD Ameritrade account to short sell GV, I bought 300 shares to short at $5.37. I followed this trade since the opening bell, it took sometime to actually start to dip but once it did it fell all the way to $4.97. I got out at $5.02, I wish I would of held on because the price today is $3.69. Since it was my first short sale it was a learning experience and I wanted to follow through completely with the entire trade process.

GV – GoldField Corporation

March 26th, 2013

Shares to short 300 @ 5.3792

Bought to cover 300@ 5.0299

Total Profit = $105.00

MTSL – A DISAPPOINTING LOSS ($765.58)

First of all no one could of predicted that the MTSL was going to lose a client. This client was responsible for 25% of their revenue, while not a big amount but still a stinger. If you did you research on this company they have improved year by year and both revenue and profits have gone up including earnings per share. Even with them losing a customer this stock should be valued at $5 to $6. As of today this stock is at $2.50!

I bought this stock at $5 and was going to hold through earnings because their financials look great. No one could of predicted they were going to lose a customer, and because of that a lot of people freaked out and starting selling. I mean come on, this is a great stock with great fundamentals but as soon as they heard the news people bailed!

The company is undervalued at the moment and will bounce to $3 to $4 soon, but if you do the math it really should be much higher. I know MTSL will replace their customer and continue to grow, watch out for this stock the only place to go is up now!

Bought 1000 shares at $5

Existed at various points under $4 (price was dropping fast, people panicked and could not get out at a decent price)

Lost total of $765.58 on this trade.

Good learning experience.

What is a Penny Stock?

It has been three months since I began my journey to reach a million in stock trading. Things are gearing up slow but progressing. A lot of people are asking me, now that you are a trader what is your strategy and what types of stocks do you trade? Well, the answer to that is day trader/swing trader, trading penny stocks!

Most people out there have a bad misconception of penny stocks, they usually think of pink sheets and companies that are worthless. While yes they are considered penny stocks but the true definition of a penny stock is a stock that trades $5 or below, this definition is straight from the SEC. There are a lot of stocks that are $5 or below on the Nasdaq, NYSE, and Russell 2000 that are considered penny stocks. These indices have guidelines, in order to be listed on these exchanges you have to meet certain criteria so usually these are stocks that are higher in quality and companies that are somewhat profitable.

The OTCBB and Pink sheet is another story. The OTC has a lot of companies that are worthless and a few that are decent to trade. These companies are still listed because the guidelines on the OTC are not as strict as they are on the other exchanges. Also, if you decide to trade on the OTC like I do sometimes you have to be careful and make sure you have done your research on the stock you are trading because there is a lot of manipulation on this exchange, including bad fills, and market makers playing games.

My trading strategy is still evolving, I like to trade stocks that are around $7 to $8 bucks and below. I have traded stocks on all exchanges so far including the OTC. I do not trade on the Pink sheets because they are just pile of shits! Usually on the OTC I like to trade stocks that are hype or promotion stocks like when AwesomePennyStocks comes out with a promo I may get in on the first day, but that’s another article. The other side of my strategy is trading Biotech stocks, catalyst plays, and earnings plays. Give me another three months and I will write another article to see how my trading strategy has evolved. So for now, it doesn’t matter if the company is making  a lot of money or has the new breakthrough technology, if its going to move on hype news or some kind of catalyst I will play it , enter and exit the same day or within a few days and move on to the next one.

Click here for the SEC’s definition of a Penny Stock:  What is a Penny Stock?

BOOK REVIEW “Learn How Professionals Trade the Penny Stock Market: A step-by-step method on how to successfully trade the exciting penny stock market”

On my journey learning to trade you defintlely have to educate youself and continuously read good material. There is so much information out there sometimes you dont know what to read. As for me, I picked up this book off Amazon called “Learn How Professionals Trade the Penny Stock Market: A step-by-step method on how to sucessfully trade the exciting penny stock market.” By Thomas McCloughan

Yea, thats a long-ass title!

Unfortunaltey had I known this book was 64 pages of just chart patterns and a brief comment of how to make a watch list I would have never bought it. I was looking for a more in-depth book on how to scan penny stocks and how to find ones that are going to be in play. This book is very basic and I read it in a hour. I would not reccomend this book if you are looking to learn how to trade penny stocks nor if you want to learn how to find stocks that are in play. This book should be given out free instead!

I recently bought “How to Make Money in Stocks” By William O’Neil. So far really good with a lot of good info. I will put up a review once I finish with it.

REDG My First Promotion Play and a Puny gain of $10 bucks!!

REDG or Red Giant Entertainment was the pick by Victory Mark Promotion. From doing my research and also talking to fellow traders out there Victory Mark promotions is a decent promoter. Not like AwesomePennyStocks but enough to make some noise!

Victory Mark is affiliated with three sites:

http://www.Preferredpennystocks.com

http://www.heropennystocks.com (Pennystockheros)

http://www.selectpennystocks.com

Victory Mark is usually compensated $500,000 for their promotions. REDG promotion was debuted on Thursday Feb. 28th at 9:30am

I was ready for this when I first got their alert the day before and also people were talking about it online getting prepared for it. Since this was my first promo play I set aside the exact money I was going to invest, how many shares I was going to buy and entry point.

I was using my TD Ameritrade account and already had my order queued, this is a great feature to have when you have plays like this. Thinkorswim can have your order out there in just one click. Obviously  I didn’t know it was going to be REDG but all signs were pointing to it so I was prepared. I had my order ready to go and was now just waiting for the confirmation. As soon as the email came out I saw REDG was the promo of the month and I hit the send button for my order. ……Wouldn’t you know it … I got rejected!

My blind-ass forgot to check my buying power, the order that I sent was way over, so I had to resend with lower shares and price. By now the price was rocketing up and I was going a bit crazy since I missed my entry point! REDG opened at .08 and I got in at .12

I was mad knowing I missed out on my position and potential profits! But I learned a lesson and next time I will be FULLY prepared!… I know a some traders got in at .09 and around .10 with major shares.

The price today is around .15 I know a few folks who made some good profits. Since this was my first pump and dump I did not want to hold over night and I sold for a puny gain by end of day. I am talking about extra puny like $10 bucks!  LOL

Check out the chart below, as you can see the jump from .08 to .14 was in just matter of minutes!

Volume: 78,976,741 shares traded.