Paper Trading with Ricky Day 7

My post content

Trade 1-2

Trade 3

Day 7

Key takeaway from this morning: Ricky advises against investing in penny stocks. They take 10 minutes to increase by two pennies and only one second to drop by 5 pennies. When trading, focus on the broader market and analyze the S&P 500 on the 5-minute chart, along with other markets, to determine the general direction. If the overall market is down, it may not be a favorable time to take a long position. Today primarily featured SAVE, but it deviated from the traditional pullback method we had been employing. Instead, it involved playing the support and resistance lines, which can be considered similar to the pullback play but at a much slower pace. SAVE would gradually reach new highs, establish resistance, slowly pull back to the previous support, and then rise again in response to news. This slow-motion pullback play repeated throughout the entire pre-market.