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Micro Penny Stocks, Penny Stocks $0.10 & Under
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Has anyone made money on penny stocks ?
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[QUOTE]Originally posted by rickpic: [QB] The following is a quote from a thread I started that you may find usefull! I posted that I had a 900% gain this month and was asked "How did you do that. I'm playing the same stocks you are" Well let me start by saying It wasn't easy! I'm not going to list all the stocks. Many of them I posted threads on and some I played were posts from others, but I will say that out of 20 or so stocks that I played there were only 2 that I got out of with a small lose! All of the rest returned some sort of gain! Now let me add that 900% is an exceptional month, but not undueable over again! Heres the principal I used and I hope it helps some! I took a beat up account I had with $740.00 left in it, and its now over $6600.00 this month! I read every news release that came out in the AM and afterhours. Here http://www.stockhouse.com/news/ and I read every new post to Allstocks and a few other boards. I had decided that all I wanted was a gain of some kind on every stock I played. Be it 5% or 100% but that I was certainly not going to risk losing gains of any kind! When it comes to News some things run a stock and others don't, I have learned this over time. Getting in early is the best way to take profits from a run. I sell while its running not at the top. Even though some stocks keep going once they peek for the day, many more retrace and settle, making it harder to take a good gain out. I stick to acquisition, spin offs, very large contracts, buybacks, and news of a large caliber. I can scan a stock in less than 5 minutes to see if the chart is down and how badly, what the O/S A/S is if its available, what past news is out, and how much volume does it trade to make it move! because of the low amount I was starting with I decided that all in was the best means of bring up the value. the numbers! $740. x 10% is a $74. gain less $22. in/out commitions or $52. add $52. to the next play! $792.00 + 10% is a $79. gain -$22 for brocker. Add $57. to the next play. $871 x 10% is $65. added after brocker! These are only examples and as we all know 10% could be 30% or even 100% in a day on the right news, and at least three of my plays this month returned 100% or better, but the point is to take some kind of gain at the end of the day, be it 2% or 100% and find another breaking news story to invest in! There is no long in penny world and if there is, what is the benefit? Holding for a month or 2 for what a 100%-1000% gain and hoping? There are stocks running every single day while you wait for gains and sometimes even just to get your original investment back. Is it worth it? Lets say your gonna hold $500. in xyz company for 2 months! Verses playing the momentum of news worthy of a run! $500. X 500% after 2 months is $2500. if it runs after your long hold! $500 + 10% every trading day for 2 months compounded! Thats about 45 trading days Day 1 $500 Day 10 you have $895 after $22. brocker fees on every round trip in/out! just under 80% gain! Day 20 you have $1874. after brocker fees or a 375% gain! I'll let you do the math beyond here! This is all based on 10% a day compounded daily and after brocker fees of $22. per round trip! As you can see it adds up pretty dam fast! Add in one or 2 30% or higher gains and see just how fast it adds up! Even throw in a 10-20% lose a couple of times a month. It still comes out green! My point is that only making 10% on every play every day, adds up faster than any 500% gain after a 2 month hold! With only minimal risk due to the fact that I'm not staying in beyond the momentum, and playing only the best news stocks every day. This is not a guaranteed win/win situation, but its working for me. I have herd it over and over again how high risk should bring high reward. I say "At what cost and how many have lost" Lets face it the penny market is a day traders market, and when we realize this it is easier to take profits and play the game. I like trading alot more than sitting and watching! Good Luck Rick the link http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/8/t/016374.html#000000 [/QB][/QUOTE]
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