My last 3 trades have been a testament to my philosophy that traders with small accounts should trade scared—traded as if you were a cracked out broker doing lines off your mistress in the downtown Goldman Sachs building when you hear a knock at the door accompanied by a voice that says “Police, open up!” Because that way you never overstay your welcome in a trade. Yes, you’re probly gonna exit early, but exiting early is safe aka infinitely better than risking exiting late.

First up, as I detailed in THIS post, there were several low priced oil stocks breaking out that I was thinking of buying, my top two choices being Tengasco, Inc. (TGC) and Samson Oil & Gas Limited (ADR) (SSN) as they were the lowest priced… SSN was just a spiker, not a true breakout (so even though it eventually fell the hardest, it was actually a great buy, think $4 to $6, or 50% overnight…ah hindsight), so I went with TGC, buying 3,000 shares at $1.69 (on an intraday dip around 2pm even as other oils were breaking out strongly) and when it broke the day high of $1.75 less than an hour later, I got pretty excited as to how high it could go since there was no resistance anywhere…

But taking trading scared to the next level, I sold out at $1.78 for a $250ish gain, not because the breakout was failing (on the contrary, ‘twas perfect) but cuz there were lots of big sellers orders all around just above…I am a wussie…as the stock was only up 20% on a perfect breakout…closing nicely higher at $1.85…opening strongly in the $1.90s on its way to $2.09, a nice 23% one day move for TIMalert subscribers and I rejoiced at several emails I got from those who also got in anywhere from $1.70 to $1.75 and exited better than me (as you should know by now is not hard to do) in the $2 range! (although PennyStocking student Tony Ellis discovered what it’s like to be last on the exit in THIS post…still profited aka why PennyStocking is gorgeous) … [visit site to read more]