About Me
Hey everyone, my name’s Eric and I’m a young trader working on transitioning myself to a full time income trading options, forex and stocks. My long term goal is to become an independent entrepreneur who can rely solely on trading, but right now it’s only a part time venture. Most of the products you see here I either trade on small accounts or in paper trades and I still have to work a job in order to support my trades. This blog is my collection of tools and advice that I wish someone had told me when I first started out to help keep aspiring traders from losing money in the markets and make more people able to stay home or travel and still make enough money to pay the bills.
Part of the goal of this blog is to find and test products that are effective in trading and inform people about them so they have an idea if they want to get them. Right now I am testing a number of products and will be updating my readers on the ones that work and I truly enjoy, but thus far these are my three favorite picks for trading that I am using and have gotten some enjoyment out of:
-Eric Conklin
Blogger and Trader
Hi Eric,
This is Jose from NY. I have been doing some research on all these alerts since I have no experience with trading. I am totally new to investing and I have n’t purchased the PSP yet. My question about James Connelly’s alerts…is n’t the large spike due to PSP membership that is purchasing the stocks immediately after the alert? If that is the case, how can you sell when the stocks are up by 35-50% since everyone is trying to get out at or arounf the same time? My theory is that you can get in but many will not be able to quickly sell and get out. Now the RCYT is at 13 cents and I am sure that many have lost money. Any comments?
Jose
Well Jose, there is probably some truth to your theory to be completely honest with you. I doubt that James Connelly’s service is the sole service to recommend these stocks and as a result, I think there is a certain hype generated among lists the accounts for a significant portion of the spikes we witness as PSP members. However, I can’t rule out all other features as being influential because I have seen some of his picks go nowhere. It’s true. There have even been a couple of duds since I joined, not many, but enough to rule out the idea that James’ list is the sole reason why these stocks jump. If James’ list were large enough to spike the stock, it would do it pretty much every single time, without a single dud, don’t you think?
Either way, I agree with your concerns about exiting the trades…that’s why I usually get out a lot earlier than the average PSP member, regardless of what James says about his profit targets. He’s rarely wrong about a stock jumping, but I’ve seen him be wrong about his profit targets a number of times and have learned to be skeptical about them and get out when I feel the time is right. The people who get hurt, like in the RCYT trade, are the ones who hold on too long and are too aggressive about their returns. Learn to take a 20-50 percent return and get out ASAP, and you can honestly make a fortune with these penny stock alerts, Jose. Just play it safe and be defensive and skeptical about anything James recommends. Thanks for the comments!
I see that James Connelly does good work in “predicting” stocks however in the time that I’ve had him sending me picks, both WKLI and RCYT, were predicted a day earlier by titanstocks.com’s newletter. I might mention that titan’s newletter is free. I’m not sure if this is coincidence or not, but I felt that you may want to look into this for your review. I am not sure it this trend will continue, but it is suspicious.
-Patrick
Hi Eric & Patrick,
Regarding your remark about “suspicious” hazard, it seams to me that it is TITANSTOCK who anounced RCYT as a hot stock on the 23rd, when PSP mentionned it on the 22sc allready I think (and again on the 23rd)?
But you are right that somethine it is a bit weird one way or the other…
Best regards,
P.S.: Eric thank you for your free report and your nice site.
Pat
Eric
I have a subscription to several Alert services some free others are not.
I have notice that sometimes a penny stock company puts out news at around 4pm et, but about ten minutes sometimes an hour before the news come out, the stock jumps sometimes well over 100%. Some services tell you days before hand that they have a good pick but can’t release it until certain time.
My question is how these services and people get hold of information prior to press releases?
Hey baby luv. There are a couple of possibilities for how these alert services get access to information about this sort of thing. The first is that they are an inside shareholder. What that means is that they have enough of a contract with the company they are working with that they are allowed to prime investors for a particular market move before it happens as the company will let them in on the upcoming news to increase stock price movement when it does.
The other option is that they are simply speculating based on past price history. They take a stock that behaved a certain way a few months or years ago, speculate that because similar circumstances are arising that caused the previous jump to happen, another jump will occur, and alert their list to the possible movement. Either way, you have to be careful who you listen to and check the record of anyone who gives you stock alerts.
Hope that helps.
Hey Eric, thank you for your promp response to my ealier post! i like what you doing here! another system out there worth consider to test would be Matt Morris’s Microcap Millionares. i did sign up for PSP with to trade along side james connelly. I am waiting on the next pick last i heard he was looking for the next explosive stock.
-baby Luv
Hey Baby Luv. I may be doing a review of Micro Cap Millionaires as well, I’ll have to see what the response is to my site visitors. Check back and see, I’ll keep everyone posted.
Eric- I did some research on Micro Cap Millionaires. I’m not sure if I can post my comments here but you have my address if you would like the info. I joined PSP so that should pretty much give you an idea of my thoughts.
Trace
Eric, I have been a member of PSP since May’09. The initials days were good for me, I banked lot of winners(LEE,MESA- to name a few 80-100%) and less losers. But his alerts didn’t perform well from Oct’09 and I stopped following. Since I’m subscribed as a PSP member for lifetime just for $49, I started following again beginning 2010 seeing him picks OTCs and Pinks. I missed LYJC
, made 70% on FRHV recently. Over a period of time, I should admit that I too learnt the hard way formulating exit strategy(like you) rather than wait for target to hit as predicted by James. But I have a question, since the day he started alerting OTC and Pinks stocks – it’s been tough to make a entry because the price gaps up so much, by the time market opens its risen 100% which in my view is very risky to get in. I normally get in if the stock hasn’t soar more than 50%. I also read the disclaimer at the end of the email which has James being compensated mentioned. My question to you is how and when you decide to make an entry of the OTC picks James alerts?
Look forward to your thoughts.
-Freddie
Freddie, it’s very difficult for me to answer with 100 percent certainty because the truth is, any time James makes a pick I have to follow it up with my own research before I get in! With LYJN, it was obvious the company had some serious momentum regardless of what formula you use to trade, and with upcoming contracts from BMI and Sony set in place, they were a clear winner.
My main focus is to look for a competitive edge on the market. If it seems like that edge is genuine reinforced by my own research as well as James’, then I am getting in! If not I stay away. But every situation is different and at the end of the day, it’s truly your money and no one can invest it for you.
But that’s my two cents, for what it’s worth!
Eric,
Like everyone else I am new and looking into penny stock (prophet) trading. I’m young and can afford to take a little more risk. One thing that I have noticed is the significant drop after the high. It seems to happen almost every time and I assume that is due to the quick sell off. My question is would it be safer to wait for his pick to skyrocket, since it is near impossible to get in at the low, and short the stock? Or follow his pick and take a smaller safe profit then short?.
Hi Eric,
I’m a newby when it comes to the buying and selling. I bought my first few shares in November and have done ok since then. But, I find that I get bored waiting for them to show profit…so I started reading up on Penny stocks and been trying to find a legitimate penny stock newsletter from a reputable company. I looked up pennystockprophet…thinking I may go with them but I was wondering if you have ever come across a site called freepennyalerts.com? I haven’t found too much about written about the company and was wondering if anyone has used them?
Any information or advice on this company or anything related to penny stocks for a newbie would be greatly appreciated.
Thank you!