Two Ways to Play Penny Stocks

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Stock patterns can morph and change. You don’t always know how they’ll change ... but you can work hard to be a self-sufficient trader. Here’s how you can adapt and take advantage of more opportunities!

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I love stock patterns. They help traders make educated decisions about trades ... and that’s why I focus so much on them in my teaching.

But here’s the thing: you can’t always know exactly how a pattern will evolve. You can do your best to look for clues, but the reality is that patterns can morph and change.

That’s why it’s so important to understand a pattern’s mechanics. This allows you to consider potential variations. You think about it rather than just memorizing a pattern and expecting it to be the same every time.

In this video, I’m presenting at TradersExpo Chicago with Tim Bohen, the lead trader at StocksToTrade. We break down how a stock pattern can play out in different ways, using the recent runner DCGD as an example.

We’re looking at the chart over different time periods and discussing different ways to make the play at different entry points.

This is a stock that went from 20 cents to 60 cents within an hour at one point ... So how you play it during a period of volatility like that is very different from when it’s losing value.

You can learn a lot of lessons from tickers like this.

I talk about why I love trading volatile stocks ... but also how I’m totally happy getting out with little profits — and why that matters.

Bohen talks about how clear, obvious setups are what traders should look for ... even if they’re sketchy. We clue you in on what to look for on a stock’s chart to see if it’s a promising trade. We share how you know when to get in, when to get out, and when to move on…

... and we share how to take advantage of the trade no matter which way it moves. Failed breakout? Consider short selling.

You can play some stocks more than one way ... But you gotta learn the importance of discipline and the right mindset. Most traders get greedy when they’re up and don’t take profits. Or they get too scared when they’re down and don’t cut losses. Don’t fall into these trading traps!

Remember: even if the stock doesn’t do what you think, it’s still possible to find opportunities — if you’re able to adapt.