i pay $5.95 per month for a subscription to incredible charts,
i use the scanning tool to find prospective asc codes,
critera on the scanning tool varies as i change my mind like i change my undies,
anyway, once i have some codes i do some reading on the last few reports to work out where the company is in the cycle of business, is it exploring, is it hype is it production etc,
if i dont like what im reading ill throw it in the bin,
in the meantime i scan hc data base for gainers that come up on the list there,
i keep an eye out for posters who at least have half a brain, and who put some good info out there,
just because some clown on hc has 100 analysis points doesnt mean they are smart or they know what they are talking about so i take that with a grain of salt,
anyway most are old codgers and short term traders/day traders, people that have jobs dont look at hc anyway, well it wouldn't be too many, quite frankly, if your employee was on hc instead of doing the job they get paid for then the would get the ass quick smart,
i have a knack for profiling so i can see a few things that most people cant, it comes in very handy when it comes to weeding out garbage,
anyway, lets use an example, ive found a company that has some good prospects, in the right business cycle, its in the exploration and hype stage, has some names with backing is in the due diigence stage, blah blah blah,
so i watch it for a while, sometimes a week, just to get an idea of the trading patterns so i can work a bit of a profile on the buy and sell, most of the time, its just algos doing the buying and selling, the mums and dads and the old codgers havent found it yet, so,
what i do is i ease my self into the position, first i put $10k on the nose, then i sit back and monitor over the next week or so, then once i see more interest coming through i will put another $10k on the nose, sometimes it will be a higher price sometimes it will be a slightly lower price,
anyway, once the volume and price are increasing and a clear up trend is seen, then i drop in another $10k, this could be anywere up to 10 20 or 30% from my original price i bought at,
then as i see the dollar signs becoming larger and larger, i pull the pin and move my money over to another dog and do it again,
if i get any feeling that the decision ive made is a bit dodgy then ill get out and move on, sometimes for a brokerage loss or a 5 -10 %loss, you dont want to make to many dodgy calls or youll end up down on broke street and you will have to start all over again,
ive done that, and so has 9 out of 10 people who are reading this post, its a jungle out there mate, i use a machete now, pocket knives dont work in the jungle, lol,
