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PennyStocks are a different game that the NASDAQ, S&P 500, and DOW, so how has your performance been in the big boys? What techniques/skill developed from penny trading has helped you the most in trading those markets?
daytrader1
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small profit, actually 10.72% profit per week on your principle amount of $5000 on any single stock or throughout your portfolio can make you a millionaire within one year. now the point is how you find that stock which will definitely give you that 10.72%, and thats where I am heading since the time I have been here. GLTY!
auburn
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quote:Originally posted by daytrader1: small profit, actually 10.72% profit per week on your principle amount of $5000 on any single stock or throughout your portfolio can make you a millionaire within one year. now the point is how you find that stock which will definitely give you that 10.72%, and thats where I am heading since the time I have been here. GLTY!
The math makes sense, but heres the problem don'y you have to invest the intial $5000 plus the $500 profit; n, n+(nx0.10), to earn a mil? This would require you at a later stage to invest over 100K+ into one stock! WOW. The one other way to to is to do multiple stocks, but you have to net 10% on the week doing that, this makes it very difficult. Thank you for your input!
gnulnx
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auburn the thing I like about pennies is I can earn much more on less money. To get similar returns on the big boys you have to go all in with margin. Down here you can go in BIG with 3-5 gran and come out with a very large amount while only potentially loosing you initial investment.
Stocks down here move much more based on news while the big boy's are so computerized that they move based on the TA flavor of the week. If you are willing to do serious due diligence on the companies down here you can very well uncover stocks like NDOL. That would be very hard/impossible on the NASDAQ. There are people that were cashing in over 100 gran on NDOL...no I wasn't one of them.
**disclaimer...plug coming up.
A good company to start some dd on might be OMOG. I am very excited about this company.
BTW good luck to you.
Nile
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quote:Originally posted by auburn: The math makes sense, but heres the problem don't you have to invest the initial $5000 plus the $500 profit; n, n+(nx0.10), to earn a mil?
This would just mean that your profits would be re-invested. So on your $5000 every 10% profit would be stay invested or reinvested! For this theory you would need just the $5000, by the way its almost impossible to do. If it were easy every one would be doing it!
HossTrader
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I like playing options if you are looking for bigger percentage gains on smaller amounts of money. The stock might move 10% but that can cause a huge gain in some of the options on that stock.
gnulnx
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I have been looking into playing options as well. In my mind it is very much like playing pennies...only if you are wrong you loose ALL your money.
TickTrader
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Over the years, all but 2 of my losses have been on major exchanges. Those that get delisted and fall to pinky hell are salvagable with a little new money, trading on panic swings along with the fund managers.
Kiss of death... I own some Gateway, worried they will be next.
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