Making +$250 A Day Trading Penny Stocks: How To Trade: $NUGT, $BIOS, $NAK | Episode 42

TL;DR

Ricky from Techbud Solutions recaps his day of trading penny stocks and shares tips for success.

Transcript

[Applause] what's going on Traders it's Ricky with techbud Solutions so just another recap on today's trading um I do want to give a shout out to all the members that participated on today's trading um thank you for all those that you know were active sharing best practices and you know doing what we do best um and effort to promote growth right so... Read More

Key Insights

• 💗 Joining a trading group can provide a positive environment for learning and growing as an investor or entrepreneur.
• 🤩 Identifying key support and resistance levels is crucial for successful trading.
• 😫 Patience and setting a game plan are essential for making profitable trades.

Questions & Answers

Q: What is the purpose of the free trading group and how can I join?

The free trading group is a networking community aimed at helping entrepreneurs and investors grow. You can join by clicking the provided link and requesting to join the relevant group chats on the Facebook platform.

Q: Can you explain why you chose to enter and exit the BOS trade at specific price points?

Ricky entered the BOS trade at $170 based on the EMA indicator showing upward momentum. He exited at $175 due to resistance at $180-185. Ricky suggests setting a game plan for buying, selling, and cutting losses to minimize loss and promote growth.

Q: What lesson can be learned from the Knack trade?

Ricky made a mistake by not waiting for upward momentum before entering the Knack trade. He suggests waiting for a bounce and using the EMA indicator to identify good entry points. Other traders in the group were able to make over 10% profit by following this strategy.

Q: Why does Ricky suggest being cautious with Dr Ys (DRYS)?

DRYS has been on a downward trend and is a volatile stock. While it can offer potential for profit, it's important to catch it at a bounce and have a clear game plan for buying, selling, and cutting losses.

Summary & Key Takeaways

• Ricky traded three different stocks: BOS, Knack, and Nugt.

• He identified key support and resistance levels for each stock before making his trades.

• Ricky shares his successes and mistakes in order to help others learn and improve their trading strategies.