Symothy Tykes
Newbie
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For the past month I've been learning how to day trade penny stocks specifically, reading and watching videos everyday. I messed around with a hundred bucks and lost 98% of it on HMNY.
Then I learned about StockTwits and stumbled upon BILI from people talking about it in the facebook section and that's when I felt it was time to start risking thousands. I made $100 that day on a $4,000 margin account which looking back now was pretty scary.
It wasn't until Friday morning that I finally learned how to screen for the ideal stocks to day trade with finviz. From there I narrowed the list down to a handful and researched all the way until the last second before open. I still couldn't decide 100% on what to bet on even after all that research, but my gut went with TRCH and I went all in again, but only with 2k this time, because my brokerage doesn't allow margins on stocks below $3. I shorted after 30 minutes and left with $200 profit.
These were the stocks I narrowed my list down to, and it's scary to think that I could have easily chosen a loser
I didn't realize going all in with your entire account wasn't the norm until I couldn't find any articles online besides this one: https://tradingsim.com/blog/6-ways-to-manage-an-all-in-trade/
All I could find was to only risk 1-2% of your account per trade, but the way I trade, I only make 1 trade per day. It's hard enough to manage a single trade, I have no idea how everyone else keeps an eye on multiple positions with so much money on the line. After I short, I'm done and go on with the rest of my day.
I don't know I've just been lucky or I'm reading patterns correctly, because I feel like I only understand a bare minimum of what these charts are showing me.
Someone please enlighten me before I go all in on CRMD at Monday open
Then I learned about StockTwits and stumbled upon BILI from people talking about it in the facebook section and that's when I felt it was time to start risking thousands. I made $100 that day on a $4,000 margin account which looking back now was pretty scary.
It wasn't until Friday morning that I finally learned how to screen for the ideal stocks to day trade with finviz. From there I narrowed the list down to a handful and researched all the way until the last second before open. I still couldn't decide 100% on what to bet on even after all that research, but my gut went with TRCH and I went all in again, but only with 2k this time, because my brokerage doesn't allow margins on stocks below $3. I shorted after 30 minutes and left with $200 profit.
These were the stocks I narrowed my list down to, and it's scary to think that I could have easily chosen a loser
I didn't realize going all in with your entire account wasn't the norm until I couldn't find any articles online besides this one: https://tradingsim.com/blog/6-ways-to-manage-an-all-in-trade/
All I could find was to only risk 1-2% of your account per trade, but the way I trade, I only make 1 trade per day. It's hard enough to manage a single trade, I have no idea how everyone else keeps an eye on multiple positions with so much money on the line. After I short, I'm done and go on with the rest of my day.
I don't know I've just been lucky or I'm reading patterns correctly, because I feel like I only understand a bare minimum of what these charts are showing me.
Someone please enlighten me before I go all in on CRMD at Monday open
