I am writing this post to tell my journey to become consistent and profitable. I have been studying stock market since 2016, I have read and watched lots of topics about penny stocks. Last May 2017, I started the DEMO account and I've encountered same issues like other traders had when they are starting.

First is chasing, every time I saw a stock that is spiking I chase it, at the end, I loss. What is the lesson for this? DO KNOW CHASE! I need to have a strategy if I am going in the trade. Lack of strategy and knowledge will put you in a losing trade. 

Second issue that I encountered is overtrading. This issue is because of being greedy. Always be contented with winning trade even if is small. 

 

I have listed the entry and exit for going LONG that will help me to become a consistent and profitable trader.

*POSSIBLE ENTRY (BUY)

 

-          BREAK OF RESISTANCE LINE

-          Bounce at the Support Line (DIP BUY) with Big Volume

-          BREAK OF OPEN

-          Break of Natural Resistance (Every 25 Cents, 50 Cents, 1 Dollar)

-          Break of Past Chart History Patterns

-          Break of Detailed (Open, Close, LOD, HOD, Moving Averages, Previous High, Previous Low, 52 week high etc.)

-          NEVER BUY MID BREAKOUT and NEAR RESISTANCE

-          NEVER CHASE THE STOCK THAT ALREADY SPIKED

 

*POSSIBLE EXIT (SELL)

-      BEFORE REACHING RESISTANCE

-          BEFORE Natural Resistance (Every 25 Cents)

 

-          BEFORE Detailed (Open, Close, LOD, HOD, Moving Averages, Previous High, Previous Low, 52 week high etc.)