I have a few questions for traders whose profit.ly accounts are GREEN, not RED...
1. How can you tell if a stock has a bunch of short sellers?
2. In hard to borrow stocks, if I reserve shares does that mean I'm also obligated or forced to use them? or are they just an option I can choose during the day?
3. Does anyone follow the pumpers anymore? if so, what are they? I subscribed to subscription email as many as possible for the last two months and none of them helped pump any stock that was on the radar. They were always notifying after the stock moved already, which makes them USELESS. I might be following the wrong ones.
4. Are there any books I could read to help me out since I'm new to this. I have been studying since November, haven't traded anything yet because I want to be prepared. I'd rather not throw money down the drain like so many others.
5. Has anyone bought any of InvestorsLive's DVD's, they keep calling me but I tell them I'm already with Tim. but I'm interested in buying Nate's DVD's too. Anyone have a good word about his strategy?
1. You need a level 2 st up for trading. Ask your broker. 2. Not sure. 3. For now, follow Tim's advice on the pumps. You never really know when to buy a pump, b/c no one knows where the top is..which is why they're better to short, which is what Tim does. So it's better not to be there before the pump, but AFTER it begins to crash. 4. Buy Tim's "An American Hedge Fund". Doesn't really give a whole lot of insight into strategy, but shows you the emotional and psychological side of trading...somet
Also, IMO, I think you should trade (very very small amount) 1 or 2 times as you're beginning. It gives you experience..and really lights the fire under your ass to sudy more. Fear is a better motivation than greed.
1. Level 2 in your broker or scanner will show the sellers. 2. You aren't obligated to use your reserved shares. 3. Yes, although email pumps are fading they still are effective some of the time. Essentially any low priced stock that is up with no news and shitty fundamentals are more than likely pumped. 4. Books to read: Day trading for dummies, stock market wizards and Tim's book is a good insightful book especially since youre on his site. 5. I have both InvestorsLive DVD's tandem trader and
1. Some people use stats like Short Interest. In Yahoo Finance under Key Statistics, you can see some details too. 2. You are not forced to use them but you pay a fee to reserve them. 3. Tim Sykes and Tim Grittani show who they use in their DVDs. 4. I don't recommend trading books. Most are superficial information. Guru DVDs are better 5. Nate's DVD is for hardcore daytrading or scalping. Sykes' method is more sniping. Grittani hybrid of Nate and Sykes. Superman is momo stocks.
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