I think you get confused between resistance and support at times. An example being yourtrade on BSNO where you say it has support at 3.20 but I see it as resistance because it's a point that the stock can't breakthrough. Now it did have a breakout over 3.20 but once it starts to fade you should see that as a point of resistance and a signal of a failing breakout not as a level of support.
BNSO*
@Pig_Demon fair point if it can't break over and stay over it's resistance I'll keep that in mind. Cheers.
@Jonk87 Good call. I obviously still have a lot to learn. Thanks
Join now or log in to leave a comment

[TimChallenge] $FRBK was up on the news of a new CEO but the jump was too much based on the research I found (the stock was valued 3.70-6.00) so I waited for the first red day (Pennystocking 1) and shorted it after it peaked at 7.50 resistance. Thought I read it right but OTHO it's a bank and I seem to recall Tim not playing banks very much. This is where a mentor would be great--to review my logic and learn from his experience and the charts I read.

[TimChallenge] What made you opt for $FRBK, if you don't mind me asking??

[TimChallenge] I get scared when I see any profits disappearing so even before it has hit my risk I am out!! Seeing everyone making money sort of propels me to look for trades that I have in the back of my head but not for that day. Like $SGY today!

[TimChallenge] I have a real problem I cut losses far too quickly and then two minutes later find the stock has done exactly what I want it to. I am playing the less volatile stocks as they scare the pants off me!!! But I am not making head way. AND yesterday I had a plan for NVCN it spiked exactly as I thought but I didn't short it, as it was just before the close and I am a real chicken!! Any advice would be appreciated I am driving myself crazy!!!

Return of the jedi!!!! Thanks for the video!!! You are hilarious!
@Flockstock there's some epic war movies out there! Full Metal Jacket, apoloclypse to name a few!
@Jocelyn haha cheers man!
@Jonk87 agreed .. So many how do you choose :)
Join now or log in to leave a comment