Originally Posted by
relmor2003
I know we have talked about this before, but I would like to mention this again(cos1000 and sl62 were using this strategy on the way down(as well as me to good success)). You should have a core position that you have a price target set to sell at. You wont sell until this target is met. You also have a position outside your core(never more than double your core) that you "play with". I use around 15000 or 20k shares. These are used for buying and selling. Currently I am trading this block purchased at .37 cents. Looking to sell them aroud .45 cents to .50 cents(depending on movement and the run it has). I would then look to rebuy these shares lower. If it doesnt happen(ever), then you still have your core, and thats fine with you. But you must get at least .5 cents out of these shares to really make it possible for you to have a chance(good chance) to buy lower. If you miss one range however, doesnt mean you dont ever buy these shares back, even if it doesnt go lower than where you sold them. You just want to make sure you buy them on a significant retrace(over .05 cents back down).
(On the way down however, due to market action, I was taking 2 cent gains.) No longer. Ranges are not as tight as they were the way down. We all know what it was like trying to book a .10 cent gain before it bottomed(impossible).