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Real Mom
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I have been thinking about getting into Micro penny stocks as a way to make an extra income. I have been following a few stocks and paper trading and have done O.K
I am looking for a way to stay at home with my son that has C.P. and needs a lot of care. Does anyone have any advice that they could give me to help me start on the right foot ? I only have around $2000 to invest and would appreciate any help.

Thanks Real MOM


Posts: 3 | From: Monroe, MI USA | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
zo
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I've seen stories like yours before...I'm a mom or I'm a lady and I need help...Truth of the matter is it does not matter what you are...If you need help, just come out and ask for help and people will help you...Don't go into your personal life...Anyways, email me and if I have any good picks for that time...I will send it to you...But don't expect every second to be a good stock to buy into...Fzhowandai@yahoo.com...I will try to help you if I can...Farhad...

[This message has been edited by zo (edited March 28, 2004).]


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DiQuiRiesco
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This site will take ALOT of time to scour, but the information is invaluable
http://stockcharts.com/education/

Good Luck



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Real Mom
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I am sorry if I offended anyone that was not my intent. I was just hoping that if I told a little about my intentions that if I am being unrealistic someone would let me know. And thank you for the help and advice
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mistikal07
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Put your money in GZFX and don't look at your account for 1 year. You'll be very happy. Of course, do your own DD. And believe half of what you read on these boards (maybe less).

[This message has been edited by mistikal07 (edited March 28, 2004).]


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U4TSAF2
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HERE'S THE BEST ADVICE YOU CAN GET.

TAKE $500 OF YOUR $2000 AND INVEST ONLY THE $500. DON'T EVEN PUT THE $1500 BALANCE IN YOUR STOCK ACCOUNT.

NOW PLAY WITH YOUR $500.

YOUR GOING TO LOSE YOUR PROBABLY 1/2 OF YOUR $500.

YOUR DOWN TO $250. OK, NOW ADD FROM THE $1500; ANOTHER $250 AND INVEST THAT.

YOUR GOING TO LOSE 75% OF THAT. NOW YOUR DOWN IN THE AREA OF $200.

NOW FROM THE $1250 BALANCE, ADD ANOTHER $300 FOR A $500 AND INVEST THAT.

YOUR GONNA GAIN A BIT AND THEN LOSE IT ALL.

AT THIS POINT YOU ARE EITHER GOING TO GIVE UP OR BECOME A GOOD INVESTOR.

GOTO THE QBID POST HEREIN AND READ IT ALL.


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Braindamaged
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I think everyone here is trying to tell you that most everyone usually loose money when they first get started. It was a good first step to trade paper as maybe that has given you enough knowledge to make some picks.

Everyone has their favorite stocks but few make a living at it. I for one have been involved in the pennies for about two years and went through the emonitional ups and downs as you find in the learning curve.

Chances are that you will either loose some money before you gain much of a profit.

Some of the previous posters seem a little harsh but it comes from licking their earlier wounds.

It is best not to invest what you are not willing to let go or else your nerves will not allow you to make the right decisions.

Good luck to you and I hope the stocks will be good to you.


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joeyisthebest
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put all your money in WNMI on monday at .025 then watch it hit .05 and sell do the same tommorw and on Wednesday buy in and hold for the huge run on thursday.


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DiQuiRiesco
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quote:
Originally posted by joeyisthebest:
put all your money in WNMI on monday at .025 then watch it hit .05 and sell do the same tommorw and on Wednesday buy in and hold for the huge run on thursday.


Most importantly don't ever listen to Joey, though WNMI does have a good future


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Bart
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Mom: The two stocks TRBY and TSBB might be great investments but after looking at their past weeks charts do not show what is said.
On TRBY on the 22, 23, 24, 25 nor 26th did the high ever get to .12. The highest was .1180 and no way would you ever be able to sell your shares for that. TSBB: The high on the 24th, 25th, nor 26th nover reached .014. The highest was .0135. These two might be great on monday but not as you were told about the in and out thing.
My opinion is QBID: It now stands at .0029.
It is a gay TV network which is trying to get off the ground. It is suppose to start running a few shows between 1 to 15 Apr. If all goes well then they will go 24/7. This thing has great potential. For $2000 - commission you could pick up quite a few shares. Say commission is 10.95 per trade you could buy 736,666 shares at .0027. You might be able to get it on monday at .0027. But probably a little higher at .0029. Read the QBID tread on this site. I feel either two things will happen with this stock. If it does come off the ground and gets on cable and satelite broadcast the sky is the limit. However, if it does not then it will go back to .0001 where it started. The one thing here is within 4 to 6 months we will all be rich or crying in our beer. Also, not everyone looses money when they start out. Good luck to you and may you invest wisely. In penny land anything you buy is a hugh gamble but also there is a potential of hugh rewards. I mean hugh rewards. Example the stock WNMI the other day was at .0034 to start the day and went to a high of .055.
So if you put in 1989 at .0034 and sold it at .05 you would have off an investment of 1989 a total of $29,250. Not bad. This type stuff does not happen often but it can happen. This is just my opinion and take it with a grain of salt. I am a high risk taker and thrill seeker type person. Nothing ventured nothing gained.

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BigT1
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First get One Up on Wallstreet by Peter Lynch. This is not a penny stock book but many of concepts apply and it will give you good working knowledge. Investing only half of your investment money is smart to begin. Buy because you have done your own research on a company NOT BECAUSE SOMEONE HYPES IT ON A BOARD. Go slow and yes you may lose some in beginning, but try to keep them at minimum, you cannot be terrified to lose any and succeed. If you persevere and learn over time you can be a success. A couple stocks to investigate are ERHC a oil stock that I believe will do very well this week and dido for CIRT a manufacturing company.

I started out early last year with $900 and over three monthes added another $1600. First month lost a little next month broke even, third month made a few hundred and went up from there. In 12 months from first investing my portfolio increased over 400% so it can be done. But only if willing to put in your own time, work, and energy. Dont expect anyone to do it for you and be very careful on boards. One of best things I did is never looked at a message board for first 10 months. Maybe 10% of stuff you see written on the boards have some value but without your own research you will never know which ten percent.
Other tips: 1.Be careful putting all your money into one thing for raises risk. 2. Try to go with your best ideas rather than worrying to much about diversity. For one thing with only a couple grand the only way to diversify enough is put them mutual funds, which while risk is small so is reward. With $2000 dollars 3 or 4 companys are plenty of diversity if you have done your homework. 3.Try (and this is hard) and not let your emotions rule how you trade. It will save many bad decisions when you are emotionally high or low and brain turned off. 4.Dont be afraid of making mistakes. If you dont make mistakes then your not doing anything. If you control your losses you can be a GREAT SUCCESS if right just 50% of the time. 5.Market timing is hard. Dont worry if you dont buy at low or sell at high. Just be glad when you take a profit and dont beat yourself up by what could have been (another extremely hard thing not to do at times).
God bless you!


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BigT1
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Perhaps forgot one of most important tips: Get rid of get rich quick philosophy. Any stock that is pretty much like picking the lottery and your going to make a million on your thousand dollar investment is about at same odds as lottery. If you have 25 to 30% profit over a year thats good; although in pennystocks much more may be possible. But remember risk is also increased. Dont 'play the market' or you will lose, just as sure as if you were playing craps in Vegas. Become a smart investor/trader instead. Your not in this as a game but to fulfill your goals.
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having fun
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Real Mom, I have been trading stocks for about 6 months now. I am too a stay at home mom. I can be done but take the time and do alot research. Read some books, you can find some in the library. A beginner's guide to day trading online was a very helpful book. Remember when you are playing with micro-pennies it is a risk game. Never let any discourage you.
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Laura
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Wow, this must be the new stay at home mom thing to do I have a young son with Type 1 Diabetes and his prescriptions cost me a small fortune every month. I have held stocks for years but only about a month ago did I get into pennies. I bought 100,000 shares of GZFX at .06 and have been EXTREMELY happy with my profits. I hope you do well also. I guess I was lucky by picking my first penny to be GZFX and it isn't my last...I also own QBID and some WNMI. Good luck.
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moe7755
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The two best stocks out there right now are #1 QBID, #2 GZFX I'm invested in both and honestly think you can make alot of money owning these two stocks. But, please don't take anybodies word for it do your own DD.
Good Luck I hope you make alot of money.

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Real Mom
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I am going to open my account soon. I wanted to thank everyone for the advice. As soon as I got home from work I started looking into a lot of it. I am also glad to hear that there are other Mom's doing this for extra income. I am not expecting to get rich but just to add income.
I do have one question, I have been thinking about going with Scott Trade but was told I should go with Etrade , would like in put on which is best.


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21jason21
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I would suggest freetrade. it is a division of ameritrade. Freetrade has no transaction fees, no comissions as long as you do not have more then 20 transactions in a month. It does however have a 5000 dollar buy in. Which is probably not going to help you out, unless you can find some more money to start up an account, it is well worth it. Another one to keep in mind is Scottrade. This one I believe has a 500 dollar buy in, and I think the commissions are around ten bucks. Either one is a good deal. My suggestion would be that either you can come up with either some money or existing stocks or options and tranfer them into an account with freetrade so that you are above the 5k minimum. OR... open an account with scottrade and use it until you get enough to transfer it. commission fees will eat you alive when you are trading penny stocks,unless you buy large quantities of stocks. My rule of thumb is...if you are messing with sub-penny stocks always buy as many shares as you can afford. If you can only afford to invest xx,xxx's of shares don't do it. It will cost you about as much in commissions as what the stock costs to buy. If you can jump to the 100 thousand to even million range. I have a different opinion when it comes to these penny stocks. I believe just about the opposite of everyone on this board. I believe that boards like these are the sole reason that stocks do so well. When people say "don't believe only half what you hear on these boards", that is not always true. Everyone that is reading this string and is holding or has traded qbid shares got the tip right here on a message board,
I know I did. One thing I will tell you is that you need to your own dirt digging on these companies. Don't be shy call them up and ask them some questions. put thier name in search engines and read until your eyes bleed. Do this until you are comfortable with a company...Last tip...It is always good to take your money off of the table as quick as possible after investing it, watch the fluctuation of the stock and sell with small gains until you have taken all of your money off of the table and you are riding free shares.


take care an good luck.
it is a brutal world out there.

1055000 at .0003 QBID

holding strong..


Jason


quote:
Originally posted by Real Mom:
I am going to open my account soon. I wanted to thank everyone for the advice. As soon as I got home from work I started looking into a lot of it. I am also glad to hear that there are other Mom's doing this for extra income. I am not expecting to get rich but just to add income.
I do have one question, I have been thinking about going with Scott Trade but was told I should go with Etrade , would like in put on which is best.



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DiQuiRiesco
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quote:
Originally posted by Real Mom:
I am going to open my account soon. I wanted to thank everyone for the advice. As soon as I got home from work I started looking into a lot of it. I am also glad to hear that there are other Mom's doing this for extra income. I am not expecting to get rich but just to add income.
I do have one question, I have been thinking about going with Scott Trade but was told I should go with Etrade , would like in put on which is best.


Ameritrade
$10.99 is not the cheapest, however there are no other fees. Customer service is good and if it isn't yell at the supervisor and you get ten free trades. Freetrade is super cheap but there are no frills, I would not recomend this to a beginer.
Obviously as you wish to make money weekly or atleast bi-weekly I would suggest a heavy emphasis on learning charts and learning to swing trade. You will hear alot of people boast about how long they have held a stock on many message boards. While this is a carefree and relaxing form of trading it does not provide immediate cash flow. Personally if I hold a stock for more than a week I made a mistake. To facilitate your ability to spend as much time with your child as possible I suggest you learn all there is to know about reading charts. This site will give you more than you can assimilate in a week: http://stockcharts.com/education/
Pay close attention to Chart Analysis and Indicator Analysis.
I started with $500 eight months ago, and have been funding a comfortable lifestyle since, therefore you can do this, but it takes dedication, desire and many a sleepless night infront of your computer staring at charts and knee deep in SEC filings.
Another thing is don't be afraid of losing money, but also don't be afraid to get mad at yourself either....it's the only way we learn. On the same note, understand that when you do make money it was YOU who did it.


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BigT1
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Scottrade is a very good company but not the best for micro's as I believe they have a extra charge for stock trading at under $1 of .005 per share. (If I am wrong about that please someone correct me but that is what it looked to be when I checked into it.) Ameritrade you need to open and keep over $2000 in equity or they have extra charges. For someone starting out Trading Direct is good since they have no minimum, $9.95 for all trades limit and market (up to 500,000 shares) and is simple to use.
Later you can always move to Ameritrade etc. as you build up your account bankroll. I have used them for last 9 months and overall been pretty satisfied. They are a smaller company so probably dont have all the bells and whistles of Ameritrade but good for beginners.
I havent heard that much good about E-trade.

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BigT1
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tradingdirect.com check them out. again biggest advantage is no minimum, but of course to open margin account need $2000 like everywhere else. I would suggest you stick to cash account at least for awhile.
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DiQuiRiesco
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There are no minimum balance charges for Ameritrade. My account has been from no zeros to many and no extra charges have been applied. BigT are you paid by someone or are you trying to help a mother of a defenceless child?


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ohdag
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May I ask who you guys use to trade? and if you don't mind how much your commision fees are? Thanks to all and good luck.
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ohdag
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Yes Scottrade does have charges for penny stocks. When I bought my GZFX it was 25 bucks to buy. I am looking for someone who is a low penny trade. Also Scottrade doesn't let you buy some peny stocks. I tried to buy CMKX but they wouldn't let me. I am looking in to www.lowtrades.com now if anyone has any info on them. Thanks
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pharmdman
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quote:
Originally posted by DiQuiRiesco:
There are no minimum balance charges for Ameritrade. My account has been from no zeros to many and no extra charges have been applied. BigT are you paid by someone or are you trying to help a mother of a defenceless child?


I use Ameritrade too and I pay no extra fees either during bad times (and I've had many since I'm still learning). I thought that was because I was grandfathered in when they bought out NDB.com (which had no minimums), but I could be wrong.


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yaki
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Mom just remember 95% of the penny stock r cabbage(from the cbs news and i agree). i used to watch them for a while b4 i play with them
good luck

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poorman
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I use Ameritrade and If I remember right no fee's if you hold 2000.00 or more or if you do more than 4 trades in 6 months, also have never had any problem buying penny's, only the 5 day hold on new money to trade non marginal stocks.
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bjay22
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I'm a stay at home mom too and use Scott trade (not by choice), because I did not have the minimum to open an account anywhere else. Scottrade stinks for pennies. I average a l3.00 charge for any buy or sell (anything under $l.00). Also, as stated before, there are alot of pennies you cannot buy (such as QBID). Maybe you can if you call them, but everytime you call your broker the charge is doubled. So I never trade anything that involves the phone. As for a penny that looks good for the future, I have to agree with alot of traders regarding GZFX. I have traded this a few times and am still holding some and looking to buy more on pullbacks. I wish you the best of luck.
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BigT1
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quote:
Originally posted by DiQuiRiesco:
There are no minimum balance charges for Ameritrade. My account has been from no zeros to many and no extra charges have been applied. BigT are you paid by someone or are you trying to help a mother of a defenceless child?


I only put what I have read as far as Ameritrade. Fact is I will probably open an account there before to long. It does have some advantages over Tradingdirect (I hope) being a bigger company. No I am not paid but hope to be helpful. If I was not doing micro and low pennys would probably go with Scottrade as have heard it is even better than Ameritrade, but cant get past the extra charge for stocks under $1.


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BigT1
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As far as DiQuiRiesco's policy of trying to hold under a week, great if it works for him, but does not work for many. Yes I have made a few thousand that way and no I dont turn it down like that when it comes; but most of my money has been on a stock that I have researched and followed for quite a while, maybe buying and selling several times over six months. Last year I hit on HLSH buying first at .17 making a few hundred several times while holding some shares, then buying more around .42 and selling over $2. The stock later went to $5 but my comfort level was not there so do not regret (most of the time) that I sold when I did.
ERHC I have been watching since last memorial day. Right now it is paying off and I expect great things from it over next short while. Many of my short term buys are momentum moves or stuff I frankly havent done my homework on and have not been as successful.
Develop your own style that works for you and you are comfortable with. Trying to copy someone elses style that does not fit with your personality, risk tolerance and abilities is a sure way to eventually fail. Listen every style works for someone and should not be put down, but find what works for you through trial and error and experience. Learn from others when you can but ultimately it is YOUR MONEY and YOUR DECISIONS. Control them for yourself.
Hope you do well! God Bless

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BigT1
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quote:
Originally posted by DiQuiRiesco:
There are no minimum balance charges for Ameritrade. My account has been from no zeros to many and no extra charges have been applied. BigT are you paid by someone or are you trying to help a mother of a defenceless child?


This is from Ameritrades site under Rates & Fees.

Accounts open for more than six months, with a total liquidation value below $2,000, are subject to a $15 quarterly account maintenance fee. All accounts with at least four executed trades in the previous six months are excluded from this fee. All IRA and Beneficiary accounts are also excluded from this fee.

Are there any fees to maintain an Ameritrade account?
A $15 quarterly account maintenance fee may be assessed if your account has less than $2,000 in total liquidation value (cash + positions - debit balance - short positions). Your account will be excluded from this fee if:

your account is a beneficiary account (UTMA, UGMA, Guardianship, Conservatorship, Trust, Pension, or Profit Plan for Small Business) or IRA,
your account has been open less than six months,
or at least four trades have executed in your account in the last six months.
This fee will be assessed at the close of business on the last Friday of the second month of each quarter (February, May, August, and November).

All I can go by is what there site says but sure says they charge extra. Of course most penny stock traders wouldnt be charged that because we trade more than 4 times in six months and that is why those that say that they have not been charged havent.

What is the deal about 5 day wait on new funds for non-marginalable securities? Does that mean cant use those funds for Penny Stocks for 5 days??? If so that would be a bummer.



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