Shortsqueezed was able to give us at Trader Newswire a few minutes of his time to gain some insight into what makes him a great trader. You can also follow him on Twitter HERE
First off, what got you into trading stocks?
I had received one of those emails years ago of How to get rich on trading penny stocks by follower one of those subscribers alerts ( but we all know its just not that simple, if it was everybody would be doing it) but that’s how it peaked my interest.
How about scans? Do you use any ?
If you’re asking me if I use a scanner with all the custom settings like some traders do the answer is No I don’t, I don’t have any type of scanner set up, although I search the otc site daily and try to find or target plays that I personally like for whatever reasons and take a lotto position and then just wait to see if a catalyst of some kind will happen to come along at some point. My goal is to try to find plays before they make a move to try to get the best entry I can.
Can you tell us what type of things you look for when trying to find a good ticker?
It’s the OTC so anything can happen, these stocks can run for many different reasons and have no fundamentals or even dd related to them at times whatsoever, I trade movements, so when i see a stock move I try to find out what the particular catalyst may possibly be, is it news making it run, is it a filing, is it a email or sms alert or a group play, does it have dollar volume, chatter or rumors or is it just volume making it move, so in any trade I will continue to trade the ticker as long as the chart allows me to once the chart breaks down or if the variables with the company changes then I closely watch L2 and will decide if it’s worth getting into at a later time, I trade the trade so to speak. Primarily I do like stocks with lower share structures and at the cheapest price per share structure that I can find but when one discussing what might be a good ticker before it ever moves or gets a catalyst and “if” it would ever get a catalyst is just a guessing game for anyone.
Who would you recommend to follow for tickers that may help others?
Who would you recommend to follow for tickers that may help others ? Answer > My advice to anyone would be if you follow someone, follow someone by maybe just paper trading their alerts or picks or recommendations, Look at how the stock reacts after they recommend it and was there an opportunity for you to make a profit in it from you entry to your exit after their recommendation, Look at their track record, again this is the OTC and I will be the first to tell anyone that trying to predict where some of these are going or what price targets they might hit is trying to predict the future, there again that’s why I try to evaluate and perform dd on why the stock might be moving, Another words, What is the catalyst ? So personally if someone was looking for someone to follow, find a trader who they feel they can find value in with their posts or profit from their picks and again just pay attention to their history, Do they pick more winner than losers, Do they post legit DD, Are they a technical trader posting charts, Where was their posted entry or alert and what might be their exit, Understand first and foremost that most every trader has different goals, different strategies and different opinions on stocks they trade.
Any advice you can offer to young traders who aspire to get to where traders like you are?
My advice for any new trader would be Understand first and foremost if you are trading OTC stocks they can be the Most Volatile stocks that they are, Period, Understand it is High Risk trading these types of stocks, Also Anytime you have the option to do so, Always protect your investment first and foremost, the old saying is No one ever went broke taking profits and it’s Absolutely true. Always try to do your own DD (due diligence, research) on any stock you are interested in trading don’t take anyone else’s word for it. Be careful not to chase a stock, watch the chart and try not to let FOMO get the best of you, FOMO is (The Fear Of Missing Out) in a trade especially that is moving rapidly in price upwards. Through trial and error and over time you will possibly find a way or strategy that works best for “YOU”, again, not everyone has the same entries in a stock as you or may have the same exit strategy as you so keep in mind everyone may have different strategies and trading techniques and their opinions may be different as well. Remember this try not to get rich off of any one stock or fall in love with one, if something changes with the company or stock re-evaluate and dd and see then then what your opinion might be on it, Remember Rome wasn’t built in a day, the goal I have for myself is to try to grow my portfolio, it doesn’t matter if it’s +1,000% gains or +10% gains, Keep in mind, Profit is profit. There is 1 thing that every trader and investor has in common and that’s to profit, Plain and Simple.
What important lesson have you learned through the years trading that novice traders might be able to learn from?
Some tips and hard lessons I’ve learned over the years is, Always do you own DD, Don’t believe anything anyone tells you without researching it for yourself, this is the OTC and you will hear every comment known to man good and bad. Always take profits of some kind to protect your investment, again profit is profit, live to fight another day. Look for catalysts in a play like what’s moving the stock, Is it news, a filing, volume, chatter, a rumor, try to find out what might be moving the stock. Try not to chase a stock avoid FOMO (Fear Of Missing Out) especially if you see one rapidly rising in price, if you’re that interested in it watch the chart for a pullback or entry. Don’t go all in on any trade, again you never know what can happen with the company or stock so try not to put your eggs all in one basket so to speak, try to have a backup plan if the trade doesn’t happen to work in your favor, know when to sell and bail. Once you see any stock start diluting (converting shares) watch L2 and watch the chart to see if it can hold support. Check the OTCMarkets website for news and new filings and financial reports that has been released. If you have to paper trade some trades first to give you a better understanding of how trading can be or you can even trade with virtual money and treat that like it is real money because if you lose it you would be losing your own money in reality. Educate yourself as much as you possibly can, study charts, perform dd and research, watch videos for any types of strategies or trading tips that you think might be helpful to your trading. Last but not least never give up, if you find that trading is your dream or a passion or maybe just a way you can become self-employed or just make an extra income then pursue it and stay the course and have an open mind to learn whatever and anything you can because in life “YOU” are your best investment.
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