Limit orders, OTC, profits, unicorn horns..
I really enjoy these SCIE boards because people engage with each other; very nice. I'd like to touch on some things concerning limit orders..
First, the reason I constantly say 'Not investment advice' is for times such as this. Someone had asked about 'not being able to place a limit order on stocks less than $10.' Seeing my posts are not investment advice, I welcome counter arguments, questions, and statements because it helps me learn as well.
For OTC stocks, 99% of my sells utilize limit orders and ill explain a little better in a moment. There are two very common misconceptions when it comes to the OTC:
1. That you cant trade after hours in the OTC
and
2. That you cant use Limit Orders in the OTC
Both are incorrect.
1.
From OTCMarkets.com:
http://www.otcmarkets.com/learn/otc101-faq
2.
I definitely know Limit Orders can be used in the OTC because I use them all the time. But because my saying I do isn't exactly 'DD', here's some links:
http://www.otcmarkets.com/learn/trading
Although this works very well for me, I highly recommend each investor tailor their strategies to their own requirements. True, limit orders may not execute if the share price doesnt reach your order limit, but there are ways around it. Many investors set limit orders to exact prices such as .25 cents. Which means, if SCIE went to .25 cents, the limit order would activate ONLY if the price reaches .25 cents or higher. But by setting the order to .245 or .249 cents, your order will activate before everyone else's order of .25 cents. NOT investment advice.
Simply put, a limit order indicates the highest price you're willing to pay for a security, or the lowest price you're willing to accept to sell a security. Whether it's NASDAQ or the OTC, limit orders will and do work (for me, do what you want). With regards to liquidity, that is one variable definitely needed to be taken into consideration in the OTC. The run up to .0092 showed me investor interest and I'm confident when I'm ready to sell, my orders will go through.
The great thing about investing is that everyone is free to buy and sell according to what works for them and I respect that.
Someone also made a good point concerning:
I completely agree with this because who wouldn't want to sell for $3 compared to a measly .25 cents. But then again, the temptation of the possibility of 'more more more' is what makes many investors lose everything. This is why I stated I have a couple sell orders in place at different intervals; low price, medium price, and high price.
As an example, stock ASUV went from .003 to .10 cents recently in less than 2 months. Lots of profits could have been made there, and I'm sure many people did pull in $30,000 or more profits. But if you read the forum board, many people are saying how they should have sold and/or are convinced it will go back up. One guy even said hes shocked he made $75,000 per .05 cent increase; yet I don't believe he sold at .10 cents because he hasn't posted about his profits.
Obviously not judging others and I respect their decisions, but for myself, a $75,000 profit is plenty for me for a stock like ASUV. No one knows for sure if ASUV will ever go back up. Look at AVXL. I was in that one. It went from .36 cents to $1.99 in less than 5 months. Id say the majority of online forum people didn't sell. Well, a RS happened and the price hasn't recovered since November of last year. The point of investing for me is to make profit and then get the heck out of here. I don't want to be posting in online forums the rest of my life (even though many of you seem to be great people).
So what am I trying to say with this ridiculously long and boring post? I guess it would be 1. Limit orders do work if you know how to use them, 2. After hours does work in the OTC, and 3. the 'I'm not selling because what if the price goes higher' mind game is a very dangerous game in my opinion. With SCIE, I don't need to make a billion dollars. Just enough to reinvest it into other stocks. My DD, which includes tons of opinion, indicates to me that we will reach .25 cents and higher. Limit orders also help me from remaining invested too long. Some of my shares are reserved indefinitely and wont sell. But by placing a limit order, once it goes through, I no longer have to be stressed over 'should I sell?? should I sell?? should I hold?? BAHH!'
Not investment advice. Feel free to disagree.
I really enjoy these SCIE boards because people engage with each other; very nice. I'd like to touch on some things concerning limit orders..
First, the reason I constantly say 'Not investment advice' is for times such as this. Someone had asked about 'not being able to place a limit order on stocks less than $10.' Seeing my posts are not investment advice, I welcome counter arguments, questions, and statements because it helps me learn as well.
For OTC stocks, 99% of my sells utilize limit orders and ill explain a little better in a moment. There are two very common misconceptions when it comes to the OTC:
1. That you cant trade after hours in the OTC
and
2. That you cant use Limit Orders in the OTC
Both are incorrect.
1.
From OTCMarkets.com:
Quote:The majority of quoting and trading occurs between the open market hours of 9:30 AM to 4:00 PM. Trading in OTCQX, OTCQB and OTC Pink securities may take place Monday-Friday from 6:00 AM to 5:00 PM. However, market participants are free to quote and trade at any time as long as they comply with current regulations
http://www.otcmarkets.com/learn/otc101-faq
http://www.investopedia.com/ask/answers/11041...-hours.aspQuote:Penny stocks can be traded after hours. In fact, many of the largest market movements, both on the national public exchanges and on penny stock exchanges, happen after hours.
2.
I definitely know Limit Orders can be used in the OTC because I use them all the time. But because my saying I do isn't exactly 'DD', here's some links:
Quote:Investor Defines the Order – Investors define the order they wish the broker-dealer to execute. There are two main order types: the Limit Order and the Market Order.
Limit Orders allow investors to specify the exact price they are willing to accept for a buy or sell order. While Limit Orders are designed to offer more price protection for investors, a Limit Order may not be executed if the price of the security does not reach the price stated in the Limit Order
http://www.otcmarkets.com/learn/trading
Although this works very well for me, I highly recommend each investor tailor their strategies to their own requirements. True, limit orders may not execute if the share price doesnt reach your order limit, but there are ways around it. Many investors set limit orders to exact prices such as .25 cents. Which means, if SCIE went to .25 cents, the limit order would activate ONLY if the price reaches .25 cents or higher. But by setting the order to .245 or .249 cents, your order will activate before everyone else's order of .25 cents. NOT investment advice.
Simply put, a limit order indicates the highest price you're willing to pay for a security, or the lowest price you're willing to accept to sell a security. Whether it's NASDAQ or the OTC, limit orders will and do work (for me, do what you want). With regards to liquidity, that is one variable definitely needed to be taken into consideration in the OTC. The run up to .0092 showed me investor interest and I'm confident when I'm ready to sell, my orders will go through.
The great thing about investing is that everyone is free to buy and sell according to what works for them and I respect that.
Someone also made a good point concerning:
Quote:Then again, who wants to log in and see that their sell order at .25 went through, just to find out that it went through because a buyout PR was put out and it hit .25 on it's way to $3.
I completely agree with this because who wouldn't want to sell for $3 compared to a measly .25 cents. But then again, the temptation of the possibility of 'more more more' is what makes many investors lose everything. This is why I stated I have a couple sell orders in place at different intervals; low price, medium price, and high price.
As an example, stock ASUV went from .003 to .10 cents recently in less than 2 months. Lots of profits could have been made there, and I'm sure many people did pull in $30,000 or more profits. But if you read the forum board, many people are saying how they should have sold and/or are convinced it will go back up. One guy even said hes shocked he made $75,000 per .05 cent increase; yet I don't believe he sold at .10 cents because he hasn't posted about his profits.
Obviously not judging others and I respect their decisions, but for myself, a $75,000 profit is plenty for me for a stock like ASUV. No one knows for sure if ASUV will ever go back up. Look at AVXL. I was in that one. It went from .36 cents to $1.99 in less than 5 months. Id say the majority of online forum people didn't sell. Well, a RS happened and the price hasn't recovered since November of last year. The point of investing for me is to make profit and then get the heck out of here. I don't want to be posting in online forums the rest of my life (even though many of you seem to be great people).
So what am I trying to say with this ridiculously long and boring post? I guess it would be 1. Limit orders do work if you know how to use them, 2. After hours does work in the OTC, and 3. the 'I'm not selling because what if the price goes higher' mind game is a very dangerous game in my opinion. With SCIE, I don't need to make a billion dollars. Just enough to reinvest it into other stocks. My DD, which includes tons of opinion, indicates to me that we will reach .25 cents and higher. Limit orders also help me from remaining invested too long. Some of my shares are reserved indefinitely and wont sell. But by placing a limit order, once it goes through, I no longer have to be stressed over 'should I sell?? should I sell?? should I hold?? BAHH!'
Not investment advice. Feel free to disagree.
1
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ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
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The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
