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I am looking for some penny stock to start out in. I would like to start with a small $100.00 invest. Can some one tell me were to start.
Machiavelli
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read books and perhaps papertrade before you do any actual trading.. below are book recommendations for Swingtrading..also start with at least $500 .. so while reading books and such save a little more money.. dont trade in microstocks (stocks below $1 per share) .. try to trade in stocks between $1 and $5 per share.. i trade in stocks between $1 and $1.50 per share.. less pumper and dumpers (stock manipulators) ... any further advice you can email me anytime... hope this helps..
A beginner's guide to short-term trading by toni turner www.toniturner.com
[This message has been edited by Machiavelli (edited December 16, 2004).]
Nobonemovies99
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what's your email, I have a a few questions, I'm interested most in investing between 1-2 $ a share stocks and maybe we can trade picks?
poorman
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quote:Originally posted by Machiavelli: read books and perhaps papertrade before you do any actual trading.. below are book recommendations for Swingtrading..also start with at least $500 .. so while reading books and such save a little more money.. dont trade in microstocks (stocks below $1 per share) .. try to trade in stocks between $1 and $5 per share.. i trade in stocks between $1 and $1.50 per share.. less pumper and dumpers (stock manipulators) ... any further advice you can email me anytime... hope this helps..
A beginner's guide to short-term trading by toni turner www.toniturner.com
[This message has been edited by Machiavelli (edited December 16, 2004).]
Hey Mac does not trading stocks under a dollar include ones like spea today .37 to 7.50 LOL
Machiavelli
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lol i suppose so poorman.. anyways i am guilty of trading one stock lately that was under $1 a share.. CNR was at .85 when i bought it and its currently at 1.23 ... but i did my DD on that first ... anyways my email addy is Lrsk2000@aol.com ...
poorman
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quote:Originally posted by Machiavelli: lol i suppose so poorman.. anyways i am guilty of trading one stock lately that was under $1 a share.. CNR was at .85 when i bought it and its currently at 1.23 ... but i did my DD on that first ... anyways my email addy is Lrsk2000@aol.com ...
Just for the record I agree with you on trading micro penny's and other low stocks. I do play them but with very little money ( just a few thousand ) and my profits go back into real stocks that I have been holding for a long time GE.HDI,HD are some examples. To me the pennys are just a game. Like playing black jack which I do for fun also. Glad you took my joke as it was ment. You seem to like helping newbie's and we need more people on the boards that are willing to do this instead of pumping. Any way have good holidays and GOOD LUCK TRADING
Machiavelli
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that's me Hamburger Helper lol jkk.. anyways i like helping newbies cause i was a newbie once and i thank the person who turned me onto Toni Turner's books.. she is a great writer and trader in a simple enough language without so much technical babble.. after you get the basics down you can understand the more advanced stuff easier.. i also recommend Steve Nison's books and David Nassar's books...
poorman
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quote:Originally posted by Machiavelli: that's me Hamburger Helper lol jkk.. anyways i like helping newbies cause i was a newbie once and i thank the person who turned me onto Toni Turner's books.. she is a great writer and trader in a simple enough language without so much technical babble.. after you get the basics down you can understand the more advanced stuff easier.. i also recommend Steve Nison's books and David Nassar's books...
I've got both of Turner's books myself and also like helping out the newbie's. I'm not the greatest trader myself but have fallen into most of the traps that new people fall into so I feel I can at least give advise on how not to lose your money so fast LOL. Now if I can just learn how to pick winners I can retire.
Machiavelli
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you'll pick the winners dont worry... but like i said to Kyle or whoever.. if you have $1,000 ... just buy round lots of 8 to 10 different companies and swingtrade.. with stop/losses (preferabley trailing stop/losses) ... and also learn candlestick charting to add to your arsenal.. once you reach say $3,000 to $5,000 in your bankroll.. i would suggest start buying stocks in 1,000 shares as opposed to 100 share round lots... with 1,000 shares you will make about $10 for every penny rise per share... so if a stock goes up $1 per share in one month or less you would have made $1,000 profit on those 1,000 shares... gives you another $1,000 to play with and buy 1,000 shares of that company or another... :-)
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