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Very few penny's are long term holds.Most are day plays on News,Rumor,Hype,Volume,Charts,52 week low or high.Search site for DardaDog posts on charts,settings,and a complete list of helpful sites.Yes I am money ahead for the summer.If you get in a stock and you have to take, a small loss don't ride it to the grave.I still have alot to learn.A good example of someone who learned and has become very good is keithsan.For longer term plays if you can wait,look at stocks from glassman,he finds very solid company's and does solid DD and are for penny's complete companys with a product and future.For the most part just like life if it sounds to good to be true it is.If you look at every giant long thread, greatest company were gonna be rich thread on this board I haven't seen one pan out,they all fade away.Hope that helped in some way.Good Luck IMHO
Posts: 942 | From: tracy,ca U.S.A | Registered: Aug 2004
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Up for the year, down the last 3 months. Lucky to get in on QBID, GZFX, and TFCT big runs, sold at the right time, and took profits. Wished I had cashed out the rest in June though and bought back now. Still up 200% for the year though.
Ric
[This message has been edited by Ric (edited September 15, 2004).]
Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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Definitely possible... I don't want to toot my horn... but I rarely lose. I might lose on 1 on 2 stocks in a day... but there is 1 or 2 others that same day that cash in. The losses are small... cause you should bail out before you get in trouble... say before 10-15%. The wins are bigger, because, when they run... it's usually 30-100%. On the other hand... I don't win BIG. Honestly (and this is just MY own style), if I can make $100 after commission... I have no problem selling, and am quite happy. The result (for example this week) is: $489 Monday; $159 Tuesday; $949 Wednesday; ... and tomorrow is a whole new day. Caution: I should state that this spring, I got greedy one day and invested a huuuuuge amount of my holdings in CDVJ (I can't understand WHY I did that!!) Anyway... I got stuck in there for a looooong time... because, stubbornly, I refused to sell for a big loss. The result... I'm out... with very small loss... but I wasted weeks of trading because most of my funds were in there. Conclusion: DON'T BE GREEDY!!) Also note: I have a fulltime job... so there's no pressure to 'make it'. Meaning: I'll still have a roof over my head if I don't get returns from one day to another. Good luck!! Sincerely! salemm.
[This message has been edited by salemm (edited September 15, 2004).]
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How do you find about 10-20 stocks to invest in per day to make a $100 after commission and run.
Posts: 6266 | Registered: Jun 2004
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microstock, Yes, I have made money in this "business". Never act like your going to be a millionaire in 1 shot, but never shy away from what could be potential!
Aside from buying/selling stocks throughout the day/week my goal is to make 10% a month on 1 trade with $5000 invested.
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Frankly... I'm not rich... so, I find 4 or 5 stocks in one day. I give myself $5000 to invest daily, MAX! Unless, of course, God himself tells me to buy THIS or THAT (which happens sometimes LOL!!) So, out of 4 or 5... perhaps 2 or 3 won't pan out... and you get out even... or slightly lower. The other 2 or 3 strike... maybe modestly for $100 each... or more! salemm.
quote:Originally posted by stocktrader22: How do you find about 10-20 stocks to invest in per day to make a $100 after commission and run.
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Daytrading can be great if you have the time and insight but there are so many that can't. I like to swing trade myself. Look for patterns in a stock and there beta number is a good start and hopefully buy low sell high. The key to this or any other form of trading is knowing when to sell and take profit or when to sell to reduce loses. Good to paper trade when starting a new technique until you get the hang of it and then start doing it for real. Remember DD is the key.
Ric
quote:Originally posted by microstock: Excellent responses and thanks for the suggestions Tigertony.
Hope everyone will share some insights into this tricky business!
Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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Been there done that. Did have a little excuse of family in hospital and didn't watch like I should but know what being stubborn when missing a run down. Never hold a falling stock no matter how much you like it. Know this but sometimes hard to follow own advise. If you really like this stock sell on the fall and buy back when it bottoms. that makes a lose into a gain.
Ric
quote:Originally posted by salemm: Caution: I should state that this spring, I got greedy one day and invested a huuuuuge amount of my holdings in CDVJ (I can't understand WHY I did that!!) Anyway... I got stuck in there for a looooong time... because, stubbornly, I refused to sell for a big loss. The result... I'm out... with very small loss... but I wasted weeks of trading because most of my funds were in there. Conclusion: DON'T BE GREEDY!!)
Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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quote:Originally posted by tigertony: Very few penny's are long term holds.Most are day plays on News,Rumor,Hype,Volume,Charts,52 week low or high.Search site for DardaDog posts on charts,settings,and a complete list of helpful sites.Yes I am money ahead for the summer.If you get in a stock and you have to take, a small loss don't ride it to the grave.I still have alot to learn.A good example of someone who learned and has become very good is keithsan.For longer term plays if you can wait,look at stocks from glassman,he finds very solid company's and does solid DD and are for penny's complete companys with a product and future.For the most part just like life if it sounds to good to be true it is.If you look at every giant long thread, greatest company were gonna be rich thread on this board I haven't seen one pan out,they all fade away.Hope that helped in some way.Good Luck IMHO
Good post, I agree... Something I have learned, but continually fail to follow is to get out of any penny the same day you buy into it. Move on news and rumor and get out while you can, things have a funny way of turning around faster than you can blink. (well just about anyways)... Still up overall, sitting in tfct, patiently (only profits in it though) The best advice I can offer is to fantasy trade for at least 3 months before you trade one dollar of your own money... any money that can be made is not a missed opportunity, they are all around every day... or week. GLTA!
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I've made very good money "Pitchin' Pennies". When I first started about thirteen months ago, they kicked my ass. Then I decided to play the "Runners". Didn't care if it was birdchit or baseballs. Just watch the transactions play out and keep an eye on Level II. Last December I left a solid $100K job to take this up full time. My last job (Regional Management) kept me on the road quite a bit. I don't really work any less (12-14 hours per day) but at least I'm home. This is the first "job" I've had in a very long time whereas I can hardly wait for the day to start. Pure excitement when you grab a solid runner. My first "Big Winner" was IVOC last fall. I got in at 0.0007 and rode it to a penny in a very short period of time. Made around $15,000 on initial $1680 investment. I was hooked. Makes the hair all over your body stand up like hit with an electrical charge. I'm a throwback to the 70's era.......but there just ain't no RUSH like makin' that kinda BANK!!! When I started, I threw $4,000 in brokerage account and promptly gave most of it away the first 4 - 5 weeks. Tossed in another $3,000 and changed my style. I spent half on IVOC and the rest I "daytraded". As of my 1st year anniversity last month I had accumulated just over $127,000 in "Realized Gain", and have an active portfolio worth around $45,000. I have a large position in MLON and 15,000 free shares of ENUI (ENCU), plus approximately $20,000 in trading funds (split between very short term holds and cash). I fully expect to do even better this next year as I've honed my skills more with every passing day. Just set yourself some rules and never stray from them. 1)Never chase a stock (there's another play just around the corner) 2) Don't be greedy and try to squeeze every drop out of a play (profit is profit) 3) Be ready to bail if a stock turns around (I get my sell ready the second I purchase a stock, with sell price just under my buy price), take a small loss rather than watch your investment shrink. That way all you have to change if it goes up (or down quickly) is the "price", as seconds count in this game. 4) The most important of all the rules......NEVER, EVER, EVER, fall in love with one of these things. The Beverly Hillbillies theme song in the back of your head will make you ignore all the above rules. I've seen many investors raving that the stock they just got into is the NEXT GREATEST WHATEVER. Funny thing is.........90% of the investors who felt that way about a penny stock.......don't seem to be around anymore. The penny game is one of manipulation. Keep a clear head and stick to a sound set of rules....and yes......serious money can be made.
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Yo Dog, Why the he77 you up so early this morning? For additional reference, which charting services do you subscribe to , what are the fees, and how long did it take you to "accurately" read the charts?
Posts: 852 | From: TX | Registered: Sep 2004
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I slept a few hours. It's 2 am here in the desert. Quiet. Big cup of java. Big fat doo.....big open desert sky. Best time to get my head wrapped around the coming day. I don't use charts in the traditional sense. With pennies I find them misleading. I glance at them to see if they appear to back my thought on a "runner". When referring to OTCcharts, it is a site that offers tremendous tools for "pitchin' da pennies". Sign up for a free msn.com acct. and add me as a contact. Dardadog@hotmail.com and I will show you mine. Only one person can be on it at a time, but I can walk you thru it while you look if we have an open msn chat. Or hit me here........ http://client0.sigmachat.com/sc.pl?id=68515 .........it's my personal chat room. Just open, give yourself a name, and login.
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Dog I'm with ya I started with 24k back on 9/03 during the cmkm craze, and by that Christmas I had 100k with plays in ctkh, ivoc you name it. Back then everything hit pretty big. Now this year is a dreadful year indeed for the pennies. WNMI came along and took me to the cleaners. I don't have much now...so take heed my fellow traders, stock your winnings in a safe place cuz quick ups come with quick downs.
Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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quote:Originally posted by kbpkt: Good to see you posting again Futures! Hope all is going well.
All is going well, thanks. Mainly staying away from day trading for the time being, to much other stuff going on at this point. Will be back at some point, when my schedule allows for it. In the mean time though, I hope you are led to greener pastures as far as the market goes.
[This message has been edited by futuresobjective (edited September 16, 2004).]
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I tend to look at trends, vol., history and like DaDog has taught me, get in and get the Heck out fast. I have lost like everyone else, but overall have profited. I usually have 8-12 "solid" picks that I like and play 3-5 and bank em. I don't always go with the "groups" as I found some of them, not all, frontload heavily and you get stuck buying from them.
otccharts is a great tool, again learned it from DaDog, ruff ruff (that's thanks in doggie language )
I have a few long holds, but most are day trades and swing trade a little. Candydish
Posts: 48 | From: Buda TX USA | Registered: Aug 2004
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I started in April with an online account. Had invested for years before succesfully, but proceeded to dump 50k into the market at an awful time. Was a member of a message board that treated "pennies" like long term holds, and seeing as I had an "investor" mentality it was easy to see my account dwindle. I am still digging out, but came up with a new strategy that I think will work better for me. Keep majority in a "core portfolio", then keep aside 10k for swings, and 5 k for daytrades. Like Big T, I am happy if I can make 10% a month, and as I learn more maybe make more. One thing I have learned for sure...DO NOT hold a pennystock.You can't apply an "investor" ,mentality to pennies. Don't be afraid to take your profits, you can always buy back in if you want. I am VERY proud to say that I made 1,400 today on MBAH!!! I think I'm beginning to understand it better now I keep repeating to myself, trade to trade well...
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I think many people learn that lesson the hard way. I know I did. I very rarely "invest" in pennies, I trade them. Overnight exposure in the pennies leads to R/S, bad news, and other bad things. Get in, get out, and don't be greedy. 99.9% of pennies will not see a dollar, don't wait. Take you 20% plus gain and get out. When I first started playing the pennies, I had the investor mindset and lost money. It was not until I started trading them that I actually had realized gains. I can't tell you how many times I was up 30%-200% on a penny stock and I held it being greedy, only to see that gain turn into a loss. Get in and out in a day if you can, don't hold overnight. I recently broke my own rule on a stock I currently own and am paying for it now.
Posts: 1120 | From: San Diego, CA | Registered: Feb 2000
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The insights from all of you is amazing and very helpful for people like me. I am learing the hard way.
I am only 6.5K into the pennies since 3 months, but have lost 80% of the cash.
My mistakes, holding on too long on LSTE even when the split was announced.
Hoping for big wins specially in BIBO
Burnt badly on GFYI
Learning now, but not ready to put in more money at the moment and none of the holdings are worth selling as I will not get anything after commissions. I have to now just ride the storm and hope something goes up, or else I hit some additional funds from other sources.
Thanks again guys for the good info.
Posts: 120 | From: Woodland Hills CA USA | Registered: Jun 2004
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I been trying latelly the strategy of take 10% + or - and run, but I been getting cought with stocks that don't have much volume. I buy when the price start to pick up on news or something, but then I can't sell when it goes down 10%. Example last week I bought PALL @ .0008 now I can't sell at .0007 What do you do in that case? Tx.
Posts: 290 | Registered: Dec 2003
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quote:Originally posted by mamboking: I been trying latelly the strategy of take 10% + or - and run, but I been getting cought with stocks that don't have much volume. I buy when the price start to pick up on news or something, but then I can't sell when it goes down 10%. Example last week I bought PALL @ .0008 now I can't sell at .0007 What do you do in that case? Tx.
Mambo, When you get a tip research it as much as you can, only get into "runs" with higher volume, and then watch it like a hawk and bail if it loses more than 10-15%. Have to be quick on the draw.
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