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Trading OTC Stocks: How To Buy OTC Runners [Student Lesson] - YouTube
Channel: Timothy Sykes
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hey what's up guys rolling wolf here I
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was going to get into a trade from last
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week DPW and it was pretty hectic I got
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caught in a halt and a drop I tried it
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buying way too many shares then average
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down and then dedup having to eat about
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a 40k loss but then I did dip buy right
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before close quite a large position and
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ended up recouping all those losses and
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some into the next morning I actually
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got some live footage of that trade as
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well but it'll take a little bit a
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little bit of time to get that done and
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I don't have too much today so I'm gonna
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get into a trade from today's trading
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and I think there's some good valuable
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lessons on it it's a OTC BT SC and it
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was running this morning really hard and
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sympathy with Bitcoin which I think it's
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up around seventeen or eighteen hundred
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dollars right now which is nuts anyways
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we'll get into the trade for you here's
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here's the BTS C daily chart from today
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in the last six seven months you can see
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there it's had a couple spikes and then
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has just been kind of kind of tranquil
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for a while but it begin ramping up and
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a couple weeks back it spiked really
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hard it made on it made a big run from
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eight cents to sixty four cents went
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completely parabolic and that's before
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it pulled back and ended up dying out
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like these things do anyways I tried
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buying this this last Friday on this day
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thinking it would bounce here at this
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level which is you know around fifteen
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sixteen cents so I bought it then and I
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actually ended up cutting when it went
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looks like it you know and maybe heading
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back down towards eleven ten nine eight
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so it was the day early on the balance
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but today it actually gapped up so it
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got my attention immediately that it
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held at the end of day Friday actually
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held this pretty key level so I was kind
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of expecting a bounce this morning and
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that's what put this on my radar got an
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immediate gap up actually
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and you can see the gap up here it
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opened close at about 15 16 cents on
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Friday and gapped up a couple cents
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which in the case of a penny stock like
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this that's like 10% something like that
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let's see let me get to the another
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chart here we go so here's the
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one-minute chart from this morning on BT
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SC and like I said we got the gap up at
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a key level and there was some decent
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volume coming in so I went ahead and
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took about 40,000 shares where is this
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about a 19 cent average and I was
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risking actually the gap so I was only
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risking about 2 cents and on 40,000
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shares that's actually not too much risk
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anyways so we kept spiking I didn't end
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up taking profits I was watching a
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couple other stocks at the time and I
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was kind of looking for a bigger move
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than this but when it didn't break my
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risk I was fine staying in the trade and
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then we got a couple higher lows ABCD of
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sorts here as soon as it broke the
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mornings high and held the mornings high
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right in this region here 10 15 10 20
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we've got a really good parabolic spike
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OTC style and it ran from 21 cents all
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the way to 32 cents so it's sitting
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pretty on this trade now I didn't take
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any profits into this I did take some
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profits right here just I think I sold
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10,000 shares and that was just I saw
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something in the level - that wasn't
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comfortable with but it ended up being
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nothing kept on spiking now when it went
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from 26 to 30 in the span of 3 second 3
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I'm sorry 3 minutes I did take some more
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off just locking in profits along the
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way and that's how I managed to stay
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pretty patient and take you know the
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meat of these moves it's kind of my
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style of doing it but I figure you know
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if I'm selling and to each pop or in
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this case obviously if it's an OTC you
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kind of want to be a little bit ahead of
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everyone else when it comes to
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or selling because it can be extremely
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difficult to get out of these things as
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you'll see as we go along in this chart
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so that's good that's why I take profits
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I don't want to this this trade to turn
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against me and end up having to chase
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weakness to get out of this stock when
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it finally does panic and it was almost
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up a hundred percent at this point so
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let me see anyways we get up here to the
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$0.32 region and I ended up taking
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profits here basically because if you
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look at the daily chart I was just
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basically actually I was looking at the
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60-minute chart I'm sorry so this level
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here you can see it had some difficulty
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with over the span of four four hours or
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so
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it was also support here prior it was
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support here and so I found this to be a
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pretty key level of 30 to 33 cents
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that's kind of what tipped me off to
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where the turning point might be now if
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we get back up to the minute chart
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you'll see right around that stage I
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took most of my profits and it ended up
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being perfect because this thing ended
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up having quite a severe you know
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mid-afternoon panic
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late morning panic I'd say I got rid of
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shares there and then we had this
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beautiful panic back down of the 20s the
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low 20s and if you were watching the
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level two at the time you know there was
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a lot of pink prints going through which
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on my platform means people are are
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selling below the bed actually there was
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a lot of panic selling going on and
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luckily at that point I was down to I
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think 5,000 shares something like that
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and I was actually waiting for it bounce
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which we got here once it got down to 23
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cents or so we got a sweet bounce I dip
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bought this actually not Interactive
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Brokers but I did dip buy it at Schwab
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and I got I think a 24 cent average
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which I'm still holding into tomorrow
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anyways you you see you see you get the
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bounce here and then I ended up taking
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off the rest here because again on level
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2 was clear was turning the ask started
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a stack there are a lot of big sellers
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and pinkprint started coming through
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again so it's kind of cool though TCS
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are nice that way pretty clean trends
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and the panics are very clean the
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bounces are clean the other thing that
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tipped me off to this bounce was the
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just a enormous green candle bar on the
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one minute volume I believe that's the
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most volume it did all day and one
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minute was on this bounce so once we got
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down 24 23 cents there was the bit start
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stacking up in a major way and then you
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started seeing these dark green prints
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going through meaning people are jumping
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the ass to buy so so very clean very
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nice pretty stress-free trade and you
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just have to watch that watch the level
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to you know on these OTCs
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as much as you can and when there's when
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there's volume like this it's very clean
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and it can be it can be it's a good
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skill I think to have to be able to
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identify the tops and bottoms in terms
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of level 2 on OTC stocks anyways we'll
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get let's see so you'll see what
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happened here we had this low set a
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higher low this is the low I bought and
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one more note on dip buying panics and
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OTC especially is I think it's quite
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important to get in kind of towards the
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bottom of these things that's why I'm
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pretty quick to pull the trigger once I
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see that bid stack and I'm pretty quick
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to pull the trigger once I see the a
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stack when I'm trying to sell
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if you're too late on this guy you know
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you say you put a market order in which
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you shouldn't but if you need you're
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panicking out I mean you may not get
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filled you could put in a market order
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at thirty two cents but if there's a
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panic like this in the OTC you may get
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filled down a thirty sensor 29 cents
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I've had that happen to me and it's
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really a pain in the ass and the
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slippage can be bad so you have to be
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pretty quick on your feet
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buying bounces and with your shares as
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well identify key levels of support and
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resistance and be ready at those at
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those levels with a plan for what you
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want to do I think that's that's the
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whole key to a move like this and being
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able to buy early sell into strength and
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buy weakness and selling the strength
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again I mean it's very it's very
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straightforward
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but you can see we set a higher low and
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then just trend it up nicely all day
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kind of tried to test that high and got
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stuffed but send another high or low and
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grind it in too close and close right at
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its eyes so I'm expecting for tomorrow I
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think I am carrying not too many I think
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another 40,000 shares at Schwab from
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around 24 cents into tomorrow and and
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I'll sell into strength in the morning
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this is a really classic pattern here if
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any of you know Tim's eggs or watch him
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or learned from him he calls it his
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number five pattern and that's in Penny
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stocking framework it's a great DVD but
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you get a parabolic you get a pullback
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and this is the first Green Day and if
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you see and it's a it's a fairly high
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odds pattern since it finished out its
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highs along with a lot of other Bitcoin
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stocks today I am expecting a gap up and
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maybe a spike - I don't know 37 36 37
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something like that maybe 40 cents who
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knows but I will most likely be selling
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into whatever spike or gap up we get in
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the morning only because if you look at
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the history of this stock you can see
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these other times I went parabolic
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two to twenty from six to sixteen you
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get the spike a couple days of pool and
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that you get the first green day usually
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followed by a spike in the morning and
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then it that's usually the end of it for
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the most part same on this one fullback
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Green Day and then a little spike but it
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gets stuffed so not expecting too much
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out of it but I am expecting some sort
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of spike in the morning or gap up and
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that's kind of how I go about planning
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with OTC stocks in particular but this
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was a good one today I liked it
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you got you got to play a morning spike
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on an OTC really clean trend there was a
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couple great dip buy opportunities you
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could have bought this dip the initial
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dip like I did or you could have bought
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this second dip when it said high or low
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so that's all I got today pretty quick
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one but I figured I'd just go ahead and
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pull one out for you guys when I have a
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little bit more time I'll get working on
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that dpw trade because it should be
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pretty entertaining to go through that
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footage but but that's it have a good
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one guys if you guys need anything else
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shoot me a comment I'll try I know
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there's been a lot of requests for a lot
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of different kinds of videos so I'll try
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to get to watch less making scanners all
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that good stuff here in the near future
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anyways that's it have a good one guys
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hey Tim Sykes millionaire mentor and
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trader thank you for watching my videos
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I hope that they helped you I want to
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share everything that I've learned over
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the years you can check out more videos
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right over there and also click
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