Today I'm trading into my IB account with approx 40k set aside for Penny Stock trading.

 

Monday was a -$600 day for me. Didn't stick to my rules. Traded stocks I didn't prepare for. Made too many trades.

 

Remember NEVER follow alerts EVER from ANYONE, use them to learn how others plan and execute trades so you can learn to plan and execute on your own.

 

Yesterday was one of the more quiet days however there were still a number of 50c poppers. AVXL and PRCP are in play due to recent earnings. ARGS bounced on the open after an excessive drop into previous day's close. EYES and ACUR have seen activity around capital raisings.

 

Today I'm watching NAKD, MYOS and SSH. NAKD is being bought after its TV appearance. Waiting for a pop to short this fleeting following. MYOS has seen some interesting SEC filings ultimately resulting in a direct placement of 5m new shares at $4.25ea. SSH is a junk stock however news of a couple of new board members could see it ignite in the short term.

• Max position size of 2k shares
• Max of two trades per day
• Only trading for target profit of 50c per trade
• Patterns are morning spike, delayed morning spike or multi-day breakouts

Lessons from yesterday