Odryk S. from Canada began trading in 2020 using his personal account during a hot market, but by 2021, he had suffered significant losses that pushed him to seek a more structured path through Trade The Pool. After five failed evaluations caused by over-trading and low-grade setups, he now focuses on patience, high-quality trades, and aims to improve his accuracy by shutting down his computer early when no setups appear.
His overall strategy is shorting penny stocks based on weak fundamentals and technical resistance levels. He looks for low-cash companies with dilution risk and high short interest, timing entries near 200 and 50 EMAs and common price resistance points like $0.30 or $0.70 increments.
Tip 1
Penny stock indicators
I use the 200 and 50 EMA on the daily for my main resistance. I find that many stocks will turn around about at $0.30 and $0.70. So, I mark a range between like example, if the stock is at $4.00 at the open, I will look for $4.30 to take a short.
Tip 2
Picking penny stock to trade
I use fundamentals to choose my stock. So, I will watch the dilution tracker. Also, look at the cash balance of the company, the short interest on it. And after that, the technicals. I look where is the resistance, and if it meets all my criteria, I can take a short path open.
