posted
heres a lowly story. I started trading with an account that had been bled dry in 99 by my dad. all that was left in it was 78 bucks. but...in the last 6 weeks ive managed a 206% gain. too bad it wasnt 78000...good luck everybody
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posted
The only way to play flippers are play the high vol. play of the day stocks. One way to make real money is playing an off the wall stock with a ton of dd. At one point I put $20,000 in one penny stock it went up 40% and I sold out because I knew they were not doing anything soon. I have since found the most hidden of all gems. It's a pain to buy and high risk right now. I have $8,000 in it. My average cost is .25. I think it will go to $3.00 in the next year. I will buy $4,000 more in the next few weeks.I will advise when my ship comes in.Another way to make good money is private placements with companies. They give shares away on the cheap when they need money for filings and such. If you find a good promoter they will send some bones your way.
-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point.
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posted
I read somewhere many years ago that more overnight millionairs are made in penny stocks than any other way. Is this still true or has tech. balanced the field too much?
-------------------- Buy when blood runs in the streets
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quote:Originally posted by lilpennypincher: everyday I'm green.......is a success trading in my book. So long as I sell Green...........SUCCESS!
If you take your profit every couple of days at only %15, it will quickly become your %1000. Just stay green and sell. I tried the idea of holding for a double or more... forget it. Take your profit and don't look back. Green = trader success.
-------------------- If you don't sweat the pennies, you're not making any money.
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posted
Profit is profit, never get greedy. I remember times when I was up 25-30% but decided to hold for more gain..and ended up losing 10-15%
If you are really confident that a stocks will go up more just sell some of your shares and have the rest 'ride for free', that way you can't lose anything and could gain a lot if pps really goes up as much as you think it will.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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posted
I started trading like 5 months ago. I had $1500 to teach my self how to trade. In the begining I went to a lot of penny sites and bought crap like CMKX, PRRM, DLFR and ITFJ. after all of that I bought like 6 other popular stocks that made me a few bucks here and there. I came to Allstocks with $75 available cash last month now I am up to $450 free cash. I can add more to my account but I want to make it from the original $1500. I use etrade and they say if my account is worth 2000 I can open a margin account. I think I can make more once I can make more trades with out having to wait 3 days for cash to clear all the time. Oh and I have like 10 other stocks I own that I am waiting to sell. They seem to have potential so who knows I could maybe be there soon. My goal is to be able to do about 5 $500 transactions a day and hopefully average around 20-30% per trade or more if I am lucky. Right now the 9.99 fees are eating into my smaller profits.
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posted
svrider650 reminded me of soumething..the commission.
I know many people who started trading using brokerage accounts with their banks - big mistake. Banks will usually charge you $25+ commission. So every time you buy & sell you need $50 profit just to get out without a loss because of that high commission.
So when you buy a stock hopefuly you'll be paying not more than $11 commission and your first goal should be to get enough profit to cover all commission ($21 in this case) and then think when you want to sell to take a profit.
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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posted
I'm seriously considering one of these brokers that charge $5-6 per trade; for the little guy, even $11 per trade is a lot!
And as for a success story? AGCI - 70-80% increase in one day (held over night) via dividend. And if you sold at 2.10 unlike me, that's an extra bonus.
Dividends can pay a good return. The secret seems to be finding the ones that just pay out once per year rather than monthly/quarterly.
-------------------- May your trading build your character as well as your portfolio.
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posted
It all depends with how much you go into every stock. If I invest $500 every time and get out with ~ 20% profit that $100 less $22 commission and I end up with $78 profit; but if I go in with $1000 that's $178 profit after commission.
Of course less fees is always better:)
-------------------- Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.
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posted
I still pay $69 and 2% for Canda stocks at TDWATERHOUSE. I used to pay 22 at scottrade. I don't even notice the $5.00 lowtrades charges. They have poor exectution times from what I can tell. Not a big factor but could be costly. I have tried running market orders threw and it just sit for 20 minutes. That is b/s. I think ameritrade has better times.
-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point.
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posted
Has anyone ever used a market maker. They charge a high comm. charge but you can buy at the bid. Or split it down a lot. When I decide to throw the big bills around I will find a account with a mm to trade with. If the spread is huge 20% or even 10% it would pay to set up an account with a mm. I only know one person that uses them but if you buy $1,000 and the spread is 10% it would be cheaper to pay $75 than $100 (spread) and $5.00. Some people claim the level 2 will reflect what the are buying and selling for. I have never seen this with lowtrades. I think the dump orders on other brokers to fill. When I go big time that is the way to play.
-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point.
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posted
Commissions are a huge deal. When I first started I would put $300-$500 into each trade and my fidelity account costs me 17.95 per trade. The stock had to go up 10% before I would break even. I have changed my commission plan in my fidelity account but I mostly use mb Trading now. The website is www.mbtrading.com
It is the best discount broker I have found. For the big boys (Nasdaq, NYSE, AMEX) the commission is $.01 for each share up to 500 and .005 after that. For pink sheets and otcbb it is a flat 8.95, unlimited shares. The cheap commissions really allow you take make big moves and take quick profits. For example, last week I wasn't really impressed with the pennies so I decided to buy 200 shares of KKD ($2 commission) I was able to turn around and sell it three days later for nearly a $400 profit and I only had to pay $4 total commissions.
Also, Google is pretty cheap right now, so you could buy 100 shares (or $18,000 worth of stock) for $1. That is the cheapest I have seen.
posted
not sure dustoff101 i certainly dont know and wouldnt delete anyones posts even if i am in disagrement with the contents. great job crew keeping the thread going. so far im not impressed with anyones success stories but like someone said if you really did turn into a millionaire over night on a penny stock are you going to come back here and tell everyone. I WILL, you all have my word when i succeed with one of my plays i will be sure to tell you all about it and plan a party for those able to attend. keep the faith folks it can happen and i am confidant it will for many who can really hang on for large gains.
-------------------- gotta know when to hold em and when to ..........
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posted
You asked a bit early. Ask again in a few months or by the end of the year .
Oh, so you want a success story? In high school the university nearby sponsored a "stock market game" for high schools in the state. We started out with 100k and had a month to trade (on paper) using the actual daily numbers in the newspaper. I lost 25k my first week, but then turned it around and ended up with 150k by the end of the period.
Somehow I never did get into the stock market (well, I didn't have 100k for one thing ). Now that I've started with around 4k I'll try to keep you updated on my progress.
PS: The first three months I found out about the market's steep learning curve, but now I'm back in the black. Was down 1k (25% just like in the stock market game; it just took longer ).
-------------------- May your trading build your character as well as your portfolio.
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posted
thorn you sound like a go getter i like that those that have balls (metaphorically excuse me ladies) are the ones that can make fortunes in the market.or you have to have extreme amounts of patience and oh yeah alot of cash to start with.taking 4k up to 100k is doable but if you are looking for 10% a year growth i hope you are a healthy person and live a long time for it would take a long time.heres my calculations 4k @ ten percent a year saying that you can do that which i am sure you can do better in 20yrs. turns into roughly 26,896$ give or take a few bucks.thats just too long.invest in solid micro pennies and keep just one that you have a million shares or more of until it hits a dime i have see it done many times.havent done this yet myself but i will.good luck to you.
-------------------- gotta know when to hold em and when to ..........
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posted
10% a year? I was thinking a min. of 5% per month, with expectations that it would be much higher (heh, that's just my minimum to keep me happy). So far, I'm just under (at around 15% which is under 5% per month) but that's with considerable learning losses.
If I was shooting for 10% a year, I'd just invest long term in a good stock and forget about it.
Granted, it's easy to do high % right now. I'll find out how hard it is when the total pot gets a lot bigger.
My estimate? 400k by Dec. 31. Will I make it? I intend to beat it!
Hey, GLTY, and thanks!
-------------------- May your trading build your character as well as your portfolio.
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posted
noah129...mosqitoes,,those little monsters are big money.,American Bio Physics which is private is a prime example of a company that hit it big time.... If they ever go public, well you get the picture.
I have been doing the stock comparison search, looking for a OTCBB or a OTC. No luck yet.
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posted
Ok, I know every one is sick of siri but It was the first stock I ever purchased. Bought in at 2.11 and sold at 9.00. Just got really lucky. Made about 25,000 in just 4mo. It was a great ride while it lasted doing mostly day trades. Day trading is easy when the stock keeps going up. The hype was great. I sat there with my mouth open when I saw Howard stern on CNN talking about my stock that no one really had heard of a few months before. I was sitting writing a post for the Yahoo board and my husband ran in yelling look at SIRI. They just anounced Mel Karmazon and the thing shot up like you would not believe. That was a 10,000.00 day for us alone. Now we wonder around looking for our next SIRI. It has not been easy, thats for sure.
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posted
Not to scare you... But if you're new at stocks, First few stocks you invest in, you WILL LOOSE... But don't let the loosing holds you down. If you let the loosing holds you down, you don't have the gut to do stocks, therefore, you should quit... Otherwise, see the loosing like it's nothing and keep going forward and you'll never regret of moving forward...
I have a "Stock Bible", it states that if you loose and you run around and screaming like a little girl, this is what they call "amateur investor"... But if you loose and you just say "WHAT'S NEXT", then you're a true "professional investor"...
Another advice from my lil bible is "let time be your friend, don't work against time".
-------------------- If you don't have a plan, click that little X at the top, and never trade again.
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posted
yes, i guess i fall into the little girl then, lol. Man i wa bitchin and gripin' for two weeks then realized i needed to stop acting like that. NOw im slowly comin up, keyword being slowly.....
-------------------- "I sell ice in the winter, i sell fire in hell, I AM A HUSTLA, BABY, i sell water to a well!"
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posted
From my experience, the penny stocks that get the most attention do not tend to yield great profits. All you have to do is look at CMKX, PRRM, IBZT, etc to see that.
I think it's usually wisest to pick 2 or 3 stocks that are flying under everyone's radar. Find companies that have unique business ideas and put a couple hundred to a couple grand in them. Eventually they will deliver news or attract attention and make a run. My best successes have come from this approach, not from buying crap that everyone is always pumping.
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posted
Crash not to bring you down but if you bought cmkx or ibzt at the right time you could of made 1,000% on both. I pulled some nice cash on ibzt. Not that I would play either now.
-------------------- Amazing how much time we spend looking for the truth but never spend the time to get to the point.
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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 50million, 80 to 100 mil is better (always remember, there has to be buyer for every stock you sell)..
4. I rarely hold a micro penny stock for more then 3-4 days...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. (That’s why it’s called daytrading)
5. I never buy a penny stock on the way up. IF CHASING, I watch the pre market trading and set a buy price and a sell price and stick to it. IF YOU MISS THE RUN, MOVE ON. DON'T LOOK BACK AT IT --- There is another stock waiting to be bought!
6. I never think about GETTING RICH OR RETIRING on penny stocks..My goal is to make at least $300.00 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 do 1 of 3 things. #1. Sell it & move on. #2. Sell it and rebuy low #3. Continue to average down then sell it when it spikes a little. RIDING A STOCK DOWN IS LIKE THROWING YOUR MONEY OUT OF A CAR WINDOW AT 55 MILES AN HOUR AND HOPING IT FLYS BACK TO YOU. I have actually bought and sold the same stock 3 times in one day. (not usually, but it does happen).
8. I never insult or bash another fellow trader..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 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 my hand. That would be their fault if I lost my hand. But Remember, with stocks, it is us against 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..
12. I never get gambling and investing confused. I INVEST IN REAL ESTATE, & SMALL CAP STOCKS. I gamble with Penny Stocks. My definition of pennies is anything under $1.00.
13. I always take 50% of earnings from each week and e-transfer into my bank account. Then I learned how to invest that money in real estate to eliminate paying taxes.
14. When I am up on a stock, I will take my original investment out to basically ride on free shares! 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 the run up, sell portions at a time, to recoup your original investment but yet still have some shares of that stock.
15. I ALWAYS HAVE FUN......ACTUALLY I HAVE A BLAST....
16. I LEARN SOMETHING NEW EVERYDAY...
17. I'll always ask, answer questions & post facts. If someone doesn't like my style, then it's 1 less person to interact with.
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 – Figure out your own rhythm with the market. It is called charts. Learn the rhythm of the charts, 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!
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different.
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posted
BT excellent post. I don't have a millionaire story but I bought a lot, ok a ton of QBID in Feb. 04 @ .0001 when a frequent poster at that time threw it out as a "bone." For a while I listened to some QBID guru types saying don't sell you'll get caught with your pants down. Meantime smart players were making a lot of money, so finally I took the approach to take my profit off the table and let some ride. Then it hit .028, wow, what a day. Since then, because of QBID I bought my wife a new Chevy E "Q" uninox, a new deck on the house, and professional installation of real tile throughout our home, and a few vacations. I still have a bunch of Q left and could sell it at today's pps and have a profit, but I long ago took more than my profits out. Also made $4500 on CMKX on it's only decent spike. Can't make money on Pinks! I think so, make a solid plan like BT has and stick to it. I look for cheap ones, do some dd, and if it looks like a decent product or at least one that will get attention or is controversial that's even better, rumors move these things. Also look for big volume. I've had my losses too, but QBID has me so far ahead it will take a lot of loss to make me feel bad. Pinks isn't investing, I have investments, this is gambling, or playing if you like. Sometimes you win, most times you don't, but what a blast when you are sitting on 10 or 15 million shares of one that does run and banks you serious money. Watching QANT right now, waiting for some volume to come in. If it does I'm in for a bunch. GLTA This is where the big money is, have fun, play smart, gamble what you can afford to lose.
-------------------- am I part of the cure, or am I part of the disease...
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posted
"the only ones that look promising to me are qbid, ican, and possibly cdvj"
Be awfully careful here NOah, especially with CDVJ, or your ark will sinkfast! Why would you EVER buy CDVJ when so many of us have warned everyone what a scam it is? (And I'm still STUCK with over 800,000 shares, that may be worth 0 next week if they do a RS). You need to read these threads and take what's posted and do YOUR OWN DD. I'm just curious WHAT made you buy CDVJ and WHEN did you buy it?
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posted
hey love the market , ok here's the scoop a couple of months ago i got the idea after charting alot of stocks trading under the penny price that hey if i put a few hundred in any of these and they make a run up i could be sitting on thousands of dollars.well my knowledge of the market and all common sense at that point went straight out the door. since then i started to read the boards religiously and began to learn alot about the companies that i own a part of.i have also rapidly learned how these micro's run and flop and of course the success rate of holding one longterm.my first picks were pure impulse and emotion no research whatsoever. this is embarressing to admit but true.i know very well that cdvj is bullsh#t but i do own 1,000,000 shares @ and impoint of .00043 so i hope it does have a run one day.but we shall see as they are a dilution machine company hehehe. further i will publicly state that i have already been in the three months of putting money into these pennies through two reverse splits turning about six hundred bucks (not too bad but a drag) into about 3 lousy bucks hehee. no matter what anyone has said about qbid and ican i beleive in both of these companies fully and continue to hold modest amounts of each and will be under accumulation as long as they stay at these levels.i like their business models and the future plans of both.we shall see though. i also continue to hold 5 million shares of prrm even though the float is gigantic and most likely this stock will have a short lived run if it ever runs.the others i continue to hold and am modestly embaressed of are:hpon(impulse buy oops,)btor (retarded management hehe), dmxp ( long shot diamond and gold mine hoping for funding to dig),cybt ( sells cyberphones to the military could be a good company one day who knows also involved in energy production small scale), axia and ewmd dont even really know what the he#l they do and dont care will never put money in these two again. reverse split maniacs hehe.oh yeah and the last long shot is gmci (coffee biz in mexico if im not mistaken.as you can see i didnt do my dd and it has cost me quite a bit.from now on though i am doing lots of dd interested in all opinions good and bad and ultimately like bt says "i make my own descisions and take responsibility for them".i love this website and enjoy all who post here i wish the best of luck to all of you and truly hope many of you become successful finnancially and physically and spiritually.
thanx all for hearing my thoughts and experiences sincerely noah
-------------------- gotta know when to hold em and when to ..........
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posted
sonnydbar, congrats on the QBID profits, I was part of that too but what people need to remember is: Either your money is going to be tied up until a run happens or you can use that money to make "small" profits elsewhere.
Outside Pennys: Recently all I've done is take 5% here, 3% there on Nasdaq stocks and I've accumulated more then some people "hoping" for their stocks to hit big.
Again, if you're willing to let your money sit, go for it, otherwise look for those small profits.
There's 15,000 Exchange stocks, all I need to find is 1 or 2 a day that move 1-6%.
-------------------- Charts are like artwork, it's the same painting to everyone but each person see's something different.
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posted
my two cents...... In penny land get in and as soon as you hit green don't even question yourself.... SELL!!!!! Also if you are holding long, block your access to any market updates or news on that stock for about two years... LOL If you want to stay sane that is...
GLTA
-------------------- "Never stop dreaming." the most successful ppl in the world dream about things they want and then go after those dreams.. dream big and work to make those dreams a reality.
Warning all posts by this person are considered to be false and not factual.
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quote:Originally posted by BT: 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 50million, 80 to 100 mil is better (always remember, there has to be buyer for every stock you sell)..
4. I rarely hold a micro penny stock for more then 3-4 days...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. (That’s why it’s called daytrading)
5. I never buy a penny stock on the way up. IF CHASING, I watch the pre market trading and set a buy price and a sell price and stick to it. IF YOU MISS THE RUN, MOVE ON. DON'T LOOK BACK AT IT --- There is another stock waiting to be bought!
6. I never think about GETTING RICH OR RETIRING on penny stocks..My goal is to make at least $300.00 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 do 1 of 3 things. #1. Sell it & move on. #2. Sell it and rebuy low #3. Continue to average down then sell it when it spikes a little. RIDING A STOCK DOWN IS LIKE THROWING YOUR MONEY OUT OF A CAR WINDOW AT 55 MILES AN HOUR AND HOPING IT FLYS BACK TO YOU. I have actually bought and sold the same stock 3 times in one day. (not usually, but it does happen).
8. I never insult or bash another fellow trader..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 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 my hand. That would be their fault if I lost my hand. But Remember, with stocks, it is us against 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..
12. I never get gambling and investing confused. I INVEST IN REAL ESTATE, & SMALL CAP STOCKS. I gamble with Penny Stocks. My definition of pennies is anything under $1.00.
13. I always take 50% of earnings from each week and e-transfer into my bank account. Then I learned how to invest that money in real estate to eliminate paying taxes.
14. When I am up on a stock, I will take my original investment out to basically ride on free shares! 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 the run up, sell portions at a time, to recoup your original investment but yet still have some shares of that stock.
15. I ALWAYS HAVE FUN......ACTUALLY I HAVE A BLAST....
16. I LEARN SOMETHING NEW EVERYDAY...
17. I'll always ask, answer questions & post facts. If someone doesn't like my style, then it's 1 less person to interact with.
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 – Figure out your own rhythm with the market. It is called charts. Learn the rhythm of the charts, 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!
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