I successfully traded UTOG from $1.10 – $1.29 for an easy 17% and just under $1,000 in profits. Today’s 32% tank from $1.80 – $1.22 is a pattern I have seen time and time again in this industry and exactly why I preach 10% rinse and repeat. You won’t find me holding picks overnight unless I am very confident it’ll hold up, which is exactly why I cashed in on UTOG and ALZM leaving profits on the table, but living to trade another day.
Don’t get me wrong, I made good money on both those stocks, but getting greedy is what I don’t do and while I may lose out on the entire run, I minimize getting caught up in massive drops like UTOG is showing us today.
Bottom line… there will always be more 10-15% winners and by following my buy / sell strategy you’ll be less open to these huge drops. Flipping 10-15% winners regularly can be duplicated and will compound over a year, I am out to prove it. Finding regular 50-100% winners is like trying to play the lotto or going to the casino … it’s fun but usually doesn’t end well.