#NavigateTheOTCJanuary
1/25/21 - STAYING ONE STEP AHEAD
Yesterday, I discussed using retrospectives to help you do more of what you did right and less of what you did wrong (use hashtag #NavigateTheOTCJanuary to find 1/24 post). Today I'll discuss looking ahead for #OTC #stocks
1/25/21 - STAYING ONE STEP AHEAD
Yesterday, I discussed using retrospectives to help you do more of what you did right and less of what you did wrong (use hashtag #NavigateTheOTCJanuary to find 1/24 post). Today I'll discuss looking ahead for #OTC #stocks
1) HAVE AN EXIT STRATEGY FOR WHAT YOU OWN - If you have a large position, gradually exit the stock. Have plans to sell small pieces of the stock into heavy volume spurts. You'll gradually build a cash position that you can use to let trades come to you.
2) RESEARCH STOCKS THAT YOU DON'T OWN - New hot stocks arrive every day, and some hot stocks retrace and still have plenty of catalysts to break old highs. If you watch the catalyst and price action on stocks you are watching, you can better gauge where to take a starter and
where to add. For instance, I am watching a few stocks and possibly dabbling in ITM call options for $MSFT, $ZS, and $WKHS. I'm paying attention to the stocks I'm watching and ruling out any that already run (for instance I'm watching $VMNT and watching $SRSR for adding points).
I rule out stocks that take off without me because I can do better finding a high value gem than I would chasing a runner.
3) DON'T RULE OUT STOCKS YOU'VE OWNED - If a stock you've owned before is in an uptrend and catalysts are still to come, consider reentry when others are
3) DON'T RULE OUT STOCKS YOU'VE OWNED - If a stock you've owned before is in an uptrend and catalysts are still to come, consider reentry when others are
impatiently selling. For instance, I've made money twice on $GRST and $NECA. I would be careful to reinvest in something that is in the thrill/euphoria stage because of not being able to deduct losses.
4) JUST BECAUSE YOU'RE RICHER, DON'T CHASE AFTER ANYTHING - I've made the
4) JUST BECAUSE YOU'RE RICHER, DON'T CHASE AFTER ANYTHING - I've made the
mistake of rushing to get in something hot, only to see silence from the same touters when the price was lower. Instead, let the chase come to you.
5) DIVERSIFY YOUR STRATEGY - I am on the cusp of 6 figures now. After I sell my current plays, I will be well over $100k. I need to
5) DIVERSIFY YOUR STRATEGY - I am on the cusp of 6 figures now. After I sell my current plays, I will be well over $100k. I need to