/biz/ - Business & Finance

>>11414720
I meant more how wide is the needle. The length doesnt matter but the thickness does, a wide needle will hurt a lot.

And sure. Im not sure how much technical jargon you know, but I buy penny stocks that are spiking on some sort of news which causes higher than normal trading volume. I'm usually in a trade from anywhere from 5 minutes to 5 hours. I find stocks which follow the pattern BTC did from August 2017 to January 2018, except compressed on a time scale of just a few days or a week. Classic bubble psychology. I have a system to limit my losses. I try to make twice as much money on each trade as I have the potential to lose. This means if I say "I'm willing to risk losing 1 dollar per share on this trade", once I hit 2 dollars of profit I'm out. I don't care if the stock goes 10x from there. That's luck. Too bad. When I have profit I take it. It's a system. I don't hold for the 10x because too many times I don't lock in profit and a winning trade turns into a losing trade. I make money consistently, not random occasional 10xs which are impossible to predict. For example, EARS shows this pattern quite well, each candle here is 1 day. I try to trade on the big up day, or the days leading up to it. Basically trying to time BTC August thru December. If it's going up too quickly, that probably means a crash is coming soon. Each and every penny stocks eventually comes right back down to where it started out from, like Bitcoin has been doing these past 10 months. This pattern repeats hundreds of times. I trade a new stock everyday, sometimes if the pattern holds and it keeps going up I'll trade it for 2 or 3 days. But i don't trade just one stock continuously.
A couple great resources I mentioned in the other thread. If you can find it, Google How To Daytrade ebook by Ross Cameron. It explains in detail because obviously I can't explain all the intricacies of trading in one or even several 4chan posts.

>>11413742
EARS*
Look at the gray volume bars. Much higher than normal. And that corresponds to the massive increase because the order book on the ask gets eaten up. Whale buying is great news. Big investors spoke the price because they generate interest.