posted
Well I've also lost what I consider a ton of money awile back. I entered late into the .com boom in the market and got causght buying way to hig and selling for a loss only to see the stocks rebound enought to where i could have broken even. One thing that I have learned is that don't sell for a loss unless it's a very very small loss. I'm still learning tons from everyone here and thank you all for being so patient with all or us newbies. Thanks. One day my measly 5k will grow to 50k...today helped that alot!
Posts: 112 | From: El Paso, TX, 79938 | Registered: Dec 2003
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For PGHI today baby!!!!!!Excitement, drama, risk. I love it. I had a buddy of mine a couple of years ago who told me- "this is where all of the money is made.....and lost in the stock market." I guess this fits my personality somehow. I love it.
Actually my goal right now is to travel around the world for the next couple of years until I turn 30 while trading stocks on the internet. Hopefully when I find a place to settle down wherever that is I will have enough money to by me a house- all cash. This will allow me to escape the rat race and let me work at something I am passionate about, not work just to make money and kiss someones yoo hoo just to keep my 401k plan. On that note- I go to Costa Rica this weekend!!!!!
[This message has been edited by Wooter (edited February 02, 2004).]
[This message has been edited by Wooter (edited February 02, 2004).]
Posts: 201 | From: Fraser, CO USA | Registered: Dec 2003
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posted
I think in one way or another we are all adreneline junkies. There is alot of money to made in pennys, but clearly the risk is great as well. I started trading in April with 1500.00. My account is now worth over $30,000.00. I am very much still learning. But I love the thrill of it all. Today I made more in one trade lasting 2 hours, than I make in week at my "real" job. I'm looking to pay off the mortgage and buy additional real estate to build my dream house on in the mountains. I consider myself to be well on my way to that goal.
posted
Seems like this question has been asked quite a few times. So Why do I trade pennies? Good profit which at times turns into excellent profit. It sure beats the heck out of trading in the NASDAQ. I quit trading here as I realized money was to be made in penny stocks who in time will become dollar traders. A long time ago I quit following folks suggestions as I started to lose more than I could gain. At that time it was and still is called PUMPING a stock. Boy! was I sucker for this just as I bought the prices went down. ( I'm sure this has never happened to anyone, YEAH RIGHT!) Or better yet I started to chase a stock as prices were climbing only to be caught in a deadly swarm of hornets as I tried to get out. What are the basic money making rules. 1. Don't buy into a stock someone is boasting about (this means pumping) until you do some research (DD). 2. How much money will you make if you invest in a given stock and how long will it take you to at least make 50% profit. What I mean by this is simply that you can buy more shares at a lesser price than you would at a higher price and keep a healthy profit. Example I rather buy 100,000 shares of PGHI at .10 and spend $10,000 than buy 100 shares of Ebay stock at $100.00. There is more money to be made in PGHI as it is a growing company who is starting than EBAY who is already set in the market. 3. Never get to greedy and sell your stock at a good 50-100 % profit sell your invest money and retain the rest in the stock as freeshares. And go onto the next investment. And how do you know where your next investment comes from? Your DD you are performing as you wait for your stock shares to make your profit so you can pursue the next venture and keep rolling from there. 4. take time to read investment magazines or books on investing while you are on the road or at the airport, medical office or standing in line at the grocery store. 5. find out what could be the next trend as in the technology market, chips, programs, anything and do some research. 6. No one wants to hear about a stock that you have no idea of what they do. They will call you a pumper. If you know about the stock, it's past history, competitors, filings, location, assets, affiliations, current shares etc etc, and share the information. WHY Share the information? Because if I buy and someone else buys and I tell someone about the stock and they buy and so on because of it's value then the company's prices will keep going up. and away we go. Investors would like to know about the company. 7. Learn about penny stocks investing through internet (Gosh there is so much info out there you do not need a book). Allstocks is a prime example. 8. Don't belittle a persons stock just give them the facts. 9. The most important rule of all. Never ever and I mean never ever put a blame on a person for the stock pick that they chose and it just bottoms out all the way to china and you invested in it. ( you can only blame them if they held a gun to your head).
This is why I chose penny stocks it has a much greater value than the big boys. IMHO. Cj
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Why... you ask? Hey... The adreneline! The rushhhhh!!! The chalange in winning the MM on there own game. And of course...the quick money. But beware...easy come easy go!!!
So eyes wide open, lots of DD to kick some MM a_ss.
posted
JC, How are you buddy? When are we getting together? Did you see the Superbowl game? Man I was sweating bullets I was routing for NE. thank goodness. But it was a great game to watch. Especially Janet Jackson. Cj
quote:Originally posted by JOE COOL: Why... you ask? Hey... The adreneline! The rushhhhh!!! The chalange in winning the MM on there own game. And of course...the quick money. But beware...easy come easy go!!!
So eyes wide open, lots of DD to kick some MM a_ss.
If you want to make quick profits and raise a nice farm of freeshares then check out this thread. These guys only post picks that are breaking out, based mostly on TA and some DD. The creator is very smart and has some good information in the heading. Scroll down to see posts. GLTA! http://www.investorshub.com/boards/board.asp?board_id=2059
Posts: 418 | From: Avondale, AZ, USA | Registered: Dec 2003
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posted
I forgot to mention...pay special attention to Omnitrader (creator) and hacktheripper. Those guys really know their stuff. It seems everyone on this board make serious jack every day.
quote:Originally posted by ignorantbliss: Guys and Gals,
If you want to make quick profits and raise a nice farm of freeshares then check out this thread. These guys only post picks that are breaking out, based mostly on TA and some DD. The creator is very smart and has some good information in the heading. Scroll down to see posts. GLTA! http://www.investorshub.com/boards/board.asp?board_id=2059
Posts: 418 | From: Avondale, AZ, USA | Registered: Dec 2003
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posted
it's fun, exciting, not fattening, and legal. it has saved my mind from atrophy, and hasn't cost me a whole lot of money yet. it's cheaper than vegas and closer to home and I don't have to dress-up. I feel like I have a job again...(yeehaa!)...but I don't have to wear pantyhose or shoes that hurt my feet, or get up early in the morning. I can take a nap when I need one. I actually choose to eat at my desk and resent monday holidays making the weekend so long. And...here's the best part...I might even make enough money some day to pay for all my stupid medications that social security won't pay for and I might not end up being a bag lady when my LTD runs out. Beav
Posts: 173 | From: Lakeland FL USA | Registered: Jan 2004
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A WHILE BACK I POSTED THIS TO HELP SOMEONE WHO WAS A LITTLE UPSET DUE TO THE RED STREAMING ON THE SCREEN.
I AM A DAY TRADING JUNKIE. I LOVE IT. THAT'S WHY I DO IT. I AM VERY COMPETITIVE. IF I HAD A GRANDMOTHER I WOULD PROBABLY TAKE ODDS ON DAY/MONTH/YEAR AND TIME OF DEATH. I PRETTY MUCH HAVE ALWAYS DANCED TO MY OWN BEAT. THEY SAY THERE IS A FINE LINE BETWEEN DAY TRADING AND MENTAL ILLNESS!! I FORGOT WHERE THE LINE IS!! EVER SINCE I WAS A KID I NEVER COULD WALK DOWN THE CENTER LINE. ALWAYS HAD TO HAVE ONE FOOT WALKING IN THE DITCH!! I GAVE UP DRUGS AND TOOK UP DAY TRADING. IT'S A LOT CHEAPER--COP'S DON'T HARASS ME AND THE FIX COMES TO ME.
ESTABLISH A SET OF TRADING RULES THAT WORK FOR YOU. THESE ARE MY RULES. YOU HAVE A ADAPT YOUR OWN. MAYBE THIS WILL GIVE YOU SOME GUIDELINES TO GO BY.
MY PENNY STOCK RULES:
1. I never buy on impulse or get emotionally attached to a penny stock--think LOGIC--I buy it, I sell it, I make money and I rarely look back. 2. I never buy a stock JUST because I like it or worse someone else likes it. 3. I rarely buy a micro penny stock trading under a volume of 50,000 mil--80 to 100 mil is better (always remember there has to be buyer for every stock you buy).. 4. I rarely hold a micro penny stock over night...My definition of micro penny is under .10 cents ..Rarely over a weekend..NOTICE I SAID RARELY. THERE ARE SOME STOCKS THAT HAVE A BUILD UP AND IF THE VOLUME IS GOOD AND I FEEL CONFIDENT ABOUT MY DD I WILL HOLD IT FOR THE RUN. At $7.00 to $10.00 a trade I can buy and sell it every day on news or hype or earning whatever. .(THAT'S WHY IT'S CALLED DAYTRADING) 5. I never buy a penny stock on the way up. IE CHASING I watch the pre market trading and set a buy price and a sell price and stick to it (missed out on NEOM by sticking to my rules--I noticed it at .11 and refused to buy to high) UPSIDE IS I DO NOT HOLD 500,000 SHARES OF NEOM AT.43 CENTS---DOWNSIDE I DID NOT MAKE 50,000 DOLLARS. I DID MAKE A COUPLE OF GRAND BY PLAYING THE GAP AFTER THE RUN. IF YOU MISS THE RUN PLAY THE GAP. LIKE THE MAN SAID--THERE IS ANOTHER STOCK JUST WAITING TO BE BOUGHT. 6. I never think about GETTING RICH OR RETIRING on penny stocks..My goal is to make $200.00 a day and not lose my original investment. Most often I exceed my goal. (When I lose money it is usually because I have not followed my own rules) 7. I never ride a stock down--I will sell it and re-buy it. EXAMPLE: BOUGHT CTKH AT .002 AND .0022. SOLD HALF AT .0046. SOLD HALF OF THAT HALF AT .0069. IT STARTED GOING DOWN ND I BAILED OUT AT .006. BOUGHT AGAIN AT .0032. LOGIC-DO YOU ACTUALLY BELIEVE MUTUAL FUND MANAGERS WOULD HAVE HELD ONTO IBM IF IT DROPPED 50%?????--(WELL SOME WOULD) LOL I THINK NOT..RIDING A STOCK DOWN IS LIKE THROWING 50% OF YOUR MONEY OUT OF A CAR WINDOW AT 75 MILES AN HOUR AND HOPING IT FLIES BACK TO YOU. OR BETTER YET "IF YOU LOVE IT LET IT GO--IF IT LOVES YOU IT WILL COME BACK TO YOU". THATS BULL****--IF IT LOVED YOU IN THE FIRST PLACE IT NEVER WOULD HAVE LEFT.....I have actually bought and sold the same stock 3 times in one day. ATNG WAS A RECENT 3 TIME BUY AND SELL. BOUGHT AND SOLD IBZT 3 TIMES ONE DAY. (not usually but it does happen).
8. I never insult or bash another fellow trader..(EXCEPT IN EXTREME SITUATIONS WHEN I REALLY, REALLY THINK THEIR ACTIONS ARE MESSING WITH MY MONEY) I respect other people's trading methods. I LEARN FROM THEM. What the hell--It's not my money.....( It's not like they are setting on third base at a black jack table and take a hit on 15 and the dealer has a 6 showing and I have $500.00 dollars riding on that hand). I DO LISTEN AND LEARN AND BENIFIT FROM THEM. 9. I never trade with MONEY that I am not willing to lose. 10. I follow the market and market trends (not just the stocks) 11. I never buy a stock without reviewing, analyzing and understanding the charts. I learned how to read charts and believe in them...They do not lie..I MAY NOT KNOW WHAT THEY MAKE OR PRODUCE OR SELL WHEN I BUY IT BUT I DO REVIEW THE CHARTS ON THE FLY AND PUT IN A BUY ORDER FOR SMALL AMOUNT TO GET IN THE DOOR. MOST TRADERS KNOW WHEN A RUN IS COMING AND HAVE ALREADY DONE THE DUE. 12. I never get gambling and investing confused. I INVEST IN REAL ESTATE...MY BUSINESS...SMALL,MEDIUM AND LARGE CAP STOCKS WITH A HISTORY-MANAGEMENT TEAM-FINANCIALS--ASSETS--CASH--ETC..30YEARS+ GROWTH AND INCOME MUTUAL FUNDS WITH 12% OVERALL GAIN IN GOOD AND BAD TIMES (THEY ARE PROFESSIONALS AND THAT IS THEIR JOB). I GAMBLE WITH PENNIES.. MY DEFINITION OF PENNIES IS ANYTHING UNDER $5.00. 13. I always take 50% of earning from each week and e-transfer into INTEREST BEARING TAX account. THEN I LEARNED HOW TO INVEST THAT MONEY IN REAL ESTATE TO MINIMIZE TAXES. INCORPORATE, PROTECT AND SHELTER. 14. I ALWAYS TAKE MY ORIGINAL INVESTMENT OUT OF THE EQUATION WHEN IT IS FEASIBLE TO MAKE ENOUGH MONEY ON THE TRADE TO MAKE IT WORTHWHILE .IE..WHEN THE STOCK IS ON A RUN UP SELL PORTIONS AT AT TIME TO RECOUP ORIGINAL INVESTMENT. IF IT IS A STOCK I PLAN TO KEEP LIKE TFSM--I BOUGHT AT 1.06. AT 2.12 I SOLD HALF AND RECOUPED INVESTMENT AND KEEP 5000 SHARES FOR FREE. 90% OF MY LONG PORTFOLIO ARE FREEBIES. THAT IS WHEN YOU KNOW YOU ARE GOOD!! 15. I ALWAYS HAVE FUN......ACTUALLY I HAVE A BLAST.... 16. I LEARN SOMETHING NEW EVERYDAY... 17. I CAN'T SPELL, TYPE WELL OR USE PROPER GRAMMAR--AND I SWEAR LIKE A SAILOR..BUT IF YOU PUT A DOLLAR SIGN IN FRONT OF IT---I WILL FIGURE IT OUT.......THAT CERTAINLY DOES NOT MAKE ME STUPID..IT MAKES ME SMART BY RECOGNIZING MY LIMITATIONS. LEARN YOURS. 18. I ALWAYS MAKE MY OWN DECISIONS AND TAKE ALL RESPONSIBILITY FOR MY ACTIONS. 19. I LAUGH EVERYDAY..MOSTLY AT MYSELF AND SOMETIMES AT OTHERS... 20. LAST AND MOST IMPORTANT--THE MARKET HAS A RHYTHM--EACH STOCK HAS A RHYTHM--LIKE GREAT SEX--A RHYTHM..FIGURE OUT YOUR OWN RHYTHM WITH THE MARKET AND DUE YOUR OWN D.D.. LEARN THE RYTHEM OF THE CHARTS. IT IS CALLED "HARD WORK". THE REST WILL FOLLOW. TAKE THE TIME TO PASS ON YOUR GOOD FORTUNE TO OTHERS. WHAT GOES AROUND COMES AROUND AND YOU CAN TAKE THAT TO THE BANK.
DIANA OWNER/CEO/ADMINISTRATOR REALITY INCORPORATED DBA HELPING HANDS-EMERGENCY SHELTER FOR TEENAGERS FORREST PARK PRE-SCHOOL AND CHILDCARE CENTER A NON-PROFIT ORGANIZATION BRING QUALITY TO YOUNG LIVES
posted
I'm trying to make enough to pay for med school tuition (starting with 3k).
Since I study full time, I don't have the time to spend hours poring over charts and waiting for news. I spend about 10 or 15 min looking at a few pennies.. learning their rhythym (Diane is correct!).. once you get the rhythym down, you will know when it is a good time to buy and when to sell. I usually just put in a stop sell and stop buy. (can be dangerous when that rhythym is broken!).. the hardest is trying not to be greedy. when I am greedy, I lose alot of money, when I am not, I make money.
posted
TraderjOE That is my goal too, to make tuiton fee. I am about loose all th profit i have made from nasd and listed stocks trading pennystocks. Ihtought trading listed and nasd stocks was slow in terms of profit cause i have limited buying power Hey be careful. DEV
Posts: 49 | From: Arlington | Registered: Jan 2004
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that investors hub board is real hard to follow. Is there a way to make it so you can change the view to a board like this?
Posts: 9 | Registered: Jan 2004
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Since I'm stuck in the doldrums today (stocks are white almost across the board), I thought I'd take some time and read the posts made to this thread over the past week. Great stuff! Its a pleasure getting to know all of you, your backgrounds, and your specific goals, methods and ideas of trading pennies.
My portfolio after about a month and change of trading pennies is up about 10%, boosted heavily by the recent success of PGHI. All my other stocks are slightly down, except for IBZT (which I recently got back into on a down-turn). Still, I remain confident that each stock will pop of its own accord, and bring me profit (eventually).
If I ever do make enough in this to buy our dream house on the Florida coastline, y'all will be the first to know. It'll be because of this board that I'll have made it that far.
posted
I'm in the market to make money. want to turn the money i have into more money. Since will most likely decide to give up a high paying job for a job i want (My major is Mech. engineering, bso i could be an engineer or attorney, fbut instead i'm leaning towards a career in the marines or air force), it wouldnt hurt to start saving now so i can possibly go to law school after my 10 yr commitment
Posts: 423 | From: Westchester County, NY | Registered: Jan 2004
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posted
Everyone here seems to have long term goals. Mine are just the opposite. My wife and I have most of our money in "safe", rather consevative investments. That is our money for retirement. The pennies are used for day to day things. Need a new couch? 500,000 shares of something at .001, ride it to .0020 or so, take the profits and go furniture shopping. 2 weeks ago our goal was a new washer and dryer. We are planning on having our house painted this summer. CYTP or some other beat up penny will fund it on a quick pop. It doesn't work all of the time but more often than not it does. This weekend we are going on a short getaway. DCUT bought at .115 will be paying for it.
Posts: 5729 | From: Wisconsin | Registered: Sep 2003
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posted
Excellent idea! Its a lot easier to appreciate winnings when you can regularly reward yourself with tangible (though smaller) results... not a bad idea at all!
Posts: 274 | Registered: Jan 2004
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I trade pennies as opposed to the big boards because i don't have enough RISK money to play the big boards like this-- I like to trade--the big boards are easier to play cuz the news is all about them--i have my security money in a very expensive brokerage acct that my grnadfather helped me open in 86(?)with 1000$ -it was called Kidder Peabody at the time and they have been acquired so many times i can't keep track-i got hurt some when the last bubble burst because i listened to that broker--he was grandads freind and my respect was (foolishly) transferred.My grandad started daytrading before he was leagal--pre depression crash--the whole deal--he made it thru with some very conservative attitudes---like railroads that his family actually worked at---he recently passed and since i have always been the black sheep he didn't load me up with cash--as a matter of fact--he remembered me in a way to make sure i knew he what he was telling me--what he did give me was much more valuable than money--he gave me the freedom to live my own life --to get myself into and out of trouble on my own--he also educated me about the markets--he taught me to bet on people-- he actually drew his own charts on graph paper with pencil in the 60's(maybe before- I was born in 60) i didn't always appreciate it at the time but as i have children of my own now, i know he was right---he wanted an MD--he got an artist and a troublemaker--LOL-- my goal is to get enough cash together to build a state of the art glassblowing ART studio-- not a factory--- and keep it going for experienced artists and newbies to work together in an informal and cost-free environment--glassblowing is a lot like trading-it takes a lot of capital-it's exciting--it's hard work--teamwork is best when ego's overlap---you have to take risks and if you're not careful you get burned real bad-LOL
Posts: 36378 | From: USA | Registered: Sep 2003
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Like Upside, most of my money is in more conservative, long term (5+yrs) investments. Its better than leaving money in the bank where the interest generated wont even outpace inflation.
Posts: 423 | From: Westchester County, NY | Registered: Jan 2004
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Because the REWARD is greater than the risk. I don't know why anyone would play anything other than the Pennies or Options these days! Look at all the supposed GOOD or GREAT stocks on the big boards lately. Enron, WorldCom, .......... Even Italy has it's Parmalat - The Italian Enron!
Posts: 2793 | From: Coral Springs, FL, USA | Registered: Aug 2003
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quote:Originally posted by GuyInBoxers: because i'm trying to take $300 and turn it into 5k to pay for my wedding that will be happening in one year. so far i'm up $16.... crap.
LOL.. thats the problem I am facing
Whenever dad sells dana stock hes gonna give me 500 bucks to put into the account. that way i'll have enough not to get dicked over with trade fees. But im feeling ya
Posts: 60 | From: Marion In US | Registered: Nov 2003
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