Cookie Consent by Privacy Policies website

Dr PennyStock Forum

Author Topic: What to do when stock goes up  (Read 6652 times)

0 Members and 1 Guest are viewing this topic.

March 21, 2008, 09:56:46 AM
Read 6652 times
Offline

montyguitar


Tommy, I think us newbies could use a little of your experience as to "what to do when your stock goes up".  I know, I know....wait til it goes real high then sell.  I am talking more about the one day runs like BHWF on thursday.  Even though it didn't go through the roof I did get a little excited as it starting rising.  Then questions started coming to me like "when do I sell"...."how high is good enough'....."can you look at the hourly chart and use T/A on an hourly basis"?   These are just a few.  There have been numerous post  with questions like "Doc, how low should this go before I sell".  I like looking at it from the positive angle....."Doc, how high do I let this go before I sell".  Thanks.

March 21, 2008, 10:21:27 AM
Reply #1

Chris_Ben

Guest
This is a good topic, I could definately use a little education on it.  The first thing that I would look at to determine when to sell would be the resistence points.  If we are trading a stock at .70 and it has resistence at .80, .87 and 1.35, I will be looking to sell it around 1.30 assuming that a good run puts us through the first two points.  The reason I say a 1.30 and not 1.34 is because I would want to see how the stock reacts when it gets up to 1.35.  If it tries to fight through I would hold, but if I see that it is going to bounce off it and rescind back down the channel, I would sell for profits and possibly look to buy back in at the .9-1.00 range. 

One thing that i have noticed in some of the larger runs is that they take more than one day.  MSTF, I beleive, took 3 days to max out.  The first candle broke resistance, the second candle drove a long ways, then rescinded and the third shot up to its highest point and then back down.  So you needed to wait until about midday on the 3rd day to maximize profits.  I would have never been able to pick that spot.

March 21, 2008, 10:29:59 AM
Reply #2

Tommy86

Guest
very good question montyguitar!  ;)

you are talking about one day runners and how to profit out of them. you may already imagine that these are riskier trades than others, but can be rewarding in just a few minutes.

the questions you normally ask yourself when you see such a monsterruner:
"wow, its up 200%! should i still buy in? noooo, ran too much already, will retrace"
1 hour later: "damn, its up 500%! i should have bought! whatever, NOW it is too late!"
3 hours later: "&/§$)"§&)!!! its up 1200%! i should have bought!"

a very good example from last week is TMA, you remember the day it went up so much, wednesday 12th?
while it was running, i posted this chart here on the board:



this was a RealTime 1minute intradaychart. for these trades you need to see almost every tick, so 1minute or 3minute chart is good.
notice that i found a trendline in the chart? as long as it stayed in it, it was safe to trade. buy at the line and wait for the bounce.
then take your profits or wait till it breaks out of the line.

thats how you do it, find trends, supports and resistances in the intradaychart. additionally look at the daily chart to look for resistances, supports, trends etc which will influence in the daily movement.

later that day TMA broke through the line and we knew it was good to sell then.
next step was to find a new trend to look for a new buy in if you want, but there isnt always a trend. it was safe to stop there.

hope i could help you  :)

March 21, 2008, 10:39:14 AM
Reply #3
Offline

montyguitar


This is exactly why I love this site.  The information is priceless.  Thanks to both of you for your time.  Maybe we'll get a "runner" on monday.

March 21, 2008, 10:41:53 AM
Reply #4

Chris_Ben

Guest
Hey Tommy - are these realtime intraminute charts available from most broker services?  Havent seen them before.  Thanks

March 21, 2008, 10:46:40 AM
Reply #5

Tommy86

Guest
This is exactly why I love this site.  The information is priceless.  Thanks to both of you for your time.  Maybe we'll get a "runner" on monday.

you are welcome monty! if i have the time i always like to use annotated charts to explain my points, i am sure you understand it better with it and its more fun than just reading a text  ;)

Hey Tommy - are these realtime intraminute charts available from most broker services?  Havent seen them before.  Thanks

this is a streamingchart from www.quotetracker.com. you can download the program, it works with nearly every broker.
great program, its like Outlook for Emails, this one is for trading. while it is running, it collects all data and you get such a nice RT chart. try it!

March 21, 2008, 11:08:18 AM
Reply #6

Chris_Ben

Guest
Thats good stuff Tommy.  Thanks for the heads up.  Wish I could try it out now!

March 21, 2008, 11:29:41 AM
Reply #7

Tommy86

Guest
Thats good stuff Tommy.  Thanks for the heads up.  Wish I could try it out now!

np, yeah its great, you can download it now and configure it, insert your watchlist etc, so on monday its ready to roll

March 21, 2008, 12:57:42 PM
Reply #8
Offline

CanadianTSi


I downloaded quote tracker, when setting it up it asked me for my bankcard # and password... If the program sends this info back to the owners they could log into my online bank and clean me out...

March 21, 2008, 10:05:46 PM
Reply #9

Tommy86

Guest
I downloaded quote tracker, when setting it up it asked me for my bankcard # and password... If the program sends this info back to the owners they could log into my online bank and clean me out...

thought the same first, but it is a really known program and popular, dont think they´ll do it... didnt happen to me since i use it neither to the doc

btw, it asks you for your brokeraccount data to log in so you can work from quotetracker, not bankcard afaik?

March 21, 2008, 11:04:53 PM
Reply #10
Offline

CanadianTSi


I downloaded quote tracker, when setting it up it asked me for my bankcard # and password... If the program sends this info back to the owners they could log into my online bank and clean me out...

thought the same first, but it is a really known program and popular, dont think they´ll do it... didnt happen to me since i use it neither to the doc

btw, it asks you for your brokeraccount data to log in so you can work from quotetracker, not bankcard afaik?

My Brokerage is through my Bank so the login is my Bank Card Number, but I guess if you guys along with many others use it then it must be safe.

March 24, 2008, 10:10:51 AM
Reply #11
Online

Dr PennyStock

Administrator
I downloaded quote tracker, when setting it up it asked me for my bankcard # and password... If the program sends this info back to the owners they could log into my online bank and clean me out...

thought the same first, but it is a really known program and popular, dont think they´ll do it... didnt happen to me since i use it neither to the doc

btw, it asks you for your brokeraccount data to log in so you can work from quotetracker, not bankcard afaik?

My Brokerage is through my Bank so the login is my Bank Card Number, but I guess if you guys along with many others use it then it must be safe.

Quote Tracker belongs to TDAmeritrade, I use it since 2001 without any problems, more than 100,000 traders/investors use it without problems, you can trust. 
Dr PennyStock