As with all setups, there is a timing for everything. And while I don’t usually like to play penny stocks, I know that my setups work on them; so when I do get in, I make sure I make a killing from it.
Before we proceed to dissect my trade, let me reiterate that while penny stocks are occasionally good for generating trading income, they are high risk and should not be your bread-and-butter.
After spotting the huge plunge, this activated one of our key setups – The Bounce. I posted in the forum and went in the trade myself, starting off small and adding positions as it became cheaper.
While waiting for the profits to come, I went down to have a game of golf with one of my friend, and also a former student of mine. As I said, once you know what setup you are using, there is no stress at all, and no need to watch the screen the whole day.
Another of my student spotted the same setup on Asiasons, and went ahead on his own.
I will be sharing more juicy details about this trade in my next sharing session. Reserve a seat early to avoid disappointment this time.