$SLNX Lucky to Get Out Alive!

by akos on May 7, 2014

$SLNX Nightmare

I tired to play the bounce at $.015 in the morning but $SLNX started dipping even more.

$SLNX_nightmare

It seemed it had put in a double bottom but minutes later it dipped even more and I sure started to panic.

I was down 500 bucks in minutes so I did something that I rarely do; averaging down. I kept telling myself this thing has to bounce it went from .019 to .012. in 2hrs.

Sure enough there was a bounce at .011 which I bought into. From that on $SLNX stated perking and thought to myself is this thing just could go back to my average I would cut it for a scratch.

Long story short I ended up making $90 on it but it was super stressful.

I’m never going to do this again.

Mistakes I made:

1. Jump into a bounce play without evaluating the chart first, along with level 2.

2. Went into the trade full size right away. (Play bounces half a size or even 1/3 or 1/4th ) Don’t even think about playing bounces when you’re still learning the ropes.

Please learn from my mistakes so you don’t have to go through this nightmare like I did.

Next up $USTC

I bought in at .0012 about 2 weeks ago and I was a bagholder most of my ownership on this one, since it had tanked to .0009 or even .0008, I can’t even remember.

Good thing was that I started out small so I had patience.

By the way guys, This is OTC land you always start with small or you can get burnt real fast! 

Yesterday, $USTC started to perk and today it went from .0015 to .002. and I added at .0017.  If you look at its chart you will see that it’s a beat chart, coming out of a  base that started on 4/22 of this year.

Now it’s hitting new highs on a 5 times the volume than it was on Monday and level 2 looks pretty thin as of now.

I love this kind of plays, I think this could triple from .0017 (as currently trading) by next week.

Don’t get me wrong, I do not expect a run like $DMSN pulled in March where I raked in $2000 in 2 days, but $USTC has a decent potential.

 

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