quote:Originally posted by BJ: I could have made money on MLON, bought at .0001 it went to .005 but I did't sell because of greed. So I lost it all.
The way I look at it, is that there is a LOT of risk in pennies. You can make a lot, or lose a lot. Imagine the people who bought in at .005 excitement FINALLY convinced the company was going places, especially those who dont like pennies in the first place but are finally convinced to buy in...
If you really aren't sure about where a stock is heading, even when guessing and having looked at everything, set a stop loss that you can live with. I can't sit at a computer all day like I used to so for me this is a must, likewise for the sell if I expect it may hit 10% then if I can live with 7% then I post my sell order ahead of time and I run off to work - maybe never seeing a computer until after the close.
Some days of the week are better for buying, some for selling. Plus market or world events affect the market in ways you may not know if you haven't been in it for awhile, so consider it like being a kid again. Play with money you can lose, because it should be fun and 'play' to a point. I started out with $1000 which I could afford to lose and not feel guilty about, and its such a small dollar amount that it didn't make my stomach turn if I was watching my play start to tank 3 days in a row. So it was good conditioning money for me, not too exciting and not too depressing.
-------------------- Well done is better than well said. Ben Franklin Posts: 718 | From: Bay Area, CA | Registered: Aug 2005
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quote:Originally posted by lilpennypincher: My biggest tip?... DON'T HOLD ANY OF THESE PENNYS! Make money and sell....If it goes up more, Good for the other guy holding it, You've made money. MOVE ON!
That is how I prefer to look at it. Just stay green, if you made 10% and someone else made 25% you are STILL at least not broke. Dont kick yourself, be glad and move on. Avoid emotional reactions with stocks UP or DOWN.
-------------------- Well done is better than well said. Ben Franklin Posts: 718 | From: Bay Area, CA | Registered: Aug 2005
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I sold all my penny stocks yesterday and my money was go up 10%. That is good !!!!
From now on, I must follow the rules of you guys, so that I don't lose any more money !
Posts: 209 | From: Santa Ana, California | Registered: Nov 2005
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posted
Did I make any money on pennies...noop..more like break even..you win some and lose some..and with the same stock..I followed only 1 pennystock..CMCA..it went to 0,75 in april 2004. I noticed that and followed it from than on (without buying). When the air was out..it was trading at 0,08..I bought some and sold for 0,09..after that it went up to 0,15 in july of this year. I was on vacation. Things like that happen. Now the stock is at 0,038. I bought some at 0,03 and 0,038..I will keep them for a year, see what happens...mabye...this is the company that will bring in the contracts and go up to $1,- like everybody always hopes...it's like trying to realize the "american dream" foolish mabye..but hell..I got a dream and feel good about it...mabye that's what it is alll about...
-------------------- Greg Posts: 24 | From: Den Haag The netherlands | Registered: Nov 2005
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posted
I have the same problem of greed. Trying to get rich off one stock. I tell myself that I am trying to build a strong base of capitol befor I take the route of trading back and forth for small gains. But I am convinced that a person can make large amounts of money in the pennies. Right now I am focused on HISC got my first batch at .01 and others at .05 .07 .10, in the case of this one I am afraid of being left behind.
Posts: 218 | From: MD Baltimore | Registered: Jan 2005
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posted
I only day trade penny stocks. But i have come across a great one MOTG, after finally being convinved to look into it by a friend, i was BLOWN AWAY. The potential there is crazy.
My suggestion is if you want to make some real money on penny stocks just find one you REALLY LIKE and has a lot of good things going for it and by a medium stake in it, and have an exit price. 99% of pennys are pump and dumps so play them. There are still a bunch which are true plays that eventually move to larger exchanged like GAXI now GAX on the AMEX, i made a ton of money there and im still holding
Right now im holding MOTG CEO is consistant and has already stated that MOTG will be trading on a larger exchange conncurrently with the acqusitions currently under negotiations.
Always invest in a penny with a low OS/float FWIW MOTG has an OS of 30 million...
GOOD LUCK MAN!
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
gzfx has over a billion OS, the company has yet to show investors high growth percentage. on the other hand MOTG has shown nice growth and continues to accelerate revenues and profits..a must have for your portfolio
Posts: 3086 | From: miami | Registered: Nov 2005
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posted
No body said think small thats your risk and what your willing to take on. playing big like 10 15 k in one of these can be a real big ride or slide just make sure vol is there to get in and get out.AND TAKE YOUR LOSES NOBODY WINS EVERY TIME. MONEY
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Aleks i was with TDwaterhouse at first till i switched to ChoiceTrade a few months ago , your right you can't trade pennys with TD the commsion will eat you.
Posts: 181 | From: Quebec | Registered: Aug 2005
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It works if you follow the Dog's techniques....you'll be more green than blue. ....GLTA
-------------------- Marty When I was born, I was granted a visitors pass to earth. I will enjoy everyday until it has expired. You should too ;) Posts: 1740 | From: NJ, USA | Registered: Oct 2004
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posted
Ameritrade is only 10.99 a trade, I dumped Shwab because of $30 trades. What a rippoff
Posts: 218 | From: MD Baltimore | Registered: Jan 2005
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