Making +$250 A Day Trading Penny Stocks: How To Trade: $NUGT, $DRYS, $CIE | Episode 40 | Summary and Q&A

TL;DR

One trader shares their success in trading, highlighting the growth of 20% in one week and offering insights into three stocks they traded.

Key Insights

• 🍰 It is possible to achieve significant returns in a short period of time with successful trading.
• 🥹 Delisting notices can increase the risk associated with holding certain stocks.
• 😥 Identifying support and resistance levels, as well as using indicators, can help determine entry and exit points for trades.
• 🌸 Trading requires careful risk management and setting stop-loss orders to minimize potential losses.
• 👥 Joining a trading group or community can provide valuable insights and support.
• 😑 Pre-market analysis can help identify potential stocks to trade.
• 🎚️ Old support levels often act as new resistance levels.

Transcript

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Questions & Answers

Q: How did the trader identify good entry and exit points for trading nugt?

The trader waited for a pop above $9, which indicated strong resistance at that level. They entered at $9 and sold at $9.33, locking in a profit of $110.

Q: Why did the trader choose to lock in profits on cie?

The trader sold cie at 72 cents, as they didn't want to hold overnight due to the risk of it being delisted. The recent news about cie potentially getting delisted made the trader cautious.

Q: How did the trader determine the entry and exit points for drys?

The trader identified good support and resistance levels for drys based on previous price movements. They entered at $1.83 and sold at $1.90, profiting $196.

Q: What indicators did the trader use to make their trading decisions?

The trader mentioned using EMA (Exponential Moving Average) and volume indicators to understand the stock's movements and make informed decisions.

Summary & Key Takeaways

• The trader congratulates a member of their group who achieved a 20% return in one week, starting with $1,000.

• The trader analyzed pre-market movers and decided to trade nugt C and drys.

• The trader provides a detailed explanation of their thought process and trade execution for each stock.