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Wednesday, March 13, 2019

Day trading Lightspeed POS Inc. (LSPD): this one is fun for real!

I wrote about Lightspeed POS Inc. (LSPD) and it only "light-up" the idea for some little day trading. I had been waiting for the right stock to proceed and thankfully, Lightspeed POS Inc. (LSPD) appears to be on the right momentum, enjoying intensive spotlights. Currently, on the TSX, LSPD is highly popular, LSPD is among the most actively traded companies on the TSX! And guess what, your little favorite took part into the action!

I am mostly what you may consider an "investor", and mostly a dividend oriented investor for the biggest part. I like to target stocks for the long run. I had been investing in stocks for now over 10 years (actually 11 years now), and it's quite nice to see that I still hold stocks that I had been holding on for 11 years. I love to invest, but I also like to trade from time to time. What I define as trading is holding a stock for a short period of time, and selling quickly while it's possible to make some money out of a quick buy-and-sell move. It's easier for me to be an investor rather than a trader because I had an "investor" for 11 years now. And I didn't place many quick buy-and-sell moves during those 11 years. My instincts are mostly on the investment side, and not trading. But in 11 years, I saw different things and it helps me to understand that, even if a trade move is done for a quick move, once money is invested, you need to invest it into something solid. Always target quality stocks, and you'll even be able to day trade on them once in a while if you really want to.

Internet and YouTube is full of so call traders. You'll find many investors being at the search of penny stocks to trade. Personally, penny stocks are out of my lead, but the idea of day trading penny stocks is quite appealing. And many personalities play on that "easy money aura", like for example Timothy Sykes who's my little favorite on that field. I even taught about following his courses at one point. For now, I still don't like penny stocks. I prefer to invest and trade more solid stocks.

Personally, I find that Lightspeed POS Inc. (LSPD) is the perfect stock for day trading - at least for now. Today, it took me only 43 minutes to make $106 - after commission fees - out of LSPD. I place the trade using my margin account. I was anxious at first, but quickly following my buy move, LSPD registered some serious gain. If I would have wait more, I would have made even more money, but while trading, I always choose to escape from the trap when I can, rather than being find stuck there - not being able to sell for profit.

I think that LSPD is in the game for even more growth. I can easily see the stock reach the $25 per action. But here again, it's only based on impression, on the current momentum that the stock is on right now. But remember that this momentum could eventually stop without any warnings. 

2 comments:

paul poco said...

The bid and ask pre-trading March 14 is $25.98.

WTF?

Unknown said...

You can day trade LSPD, and may be make some money, but how can you day trade it in a day like today. this thing can take off any time 10-15% with a few thousand dollars or go the other way that easy.

 

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