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I have been lurking here for a short while. I just entered the stock market about 1.5 months ago.
While I havent lost a world of money, I have lost at least a good portion of my investments in QBID, CMKX & now GZFX (which out of the three, seems like the best potential of actually doing something).
Am I better off forgetting about these micro-penny stocks as they seem to be nothing more than people pumping them up, getting out and watching them fall.
quote:Originally posted by brandnewtrader: I have been lurking here for a short while. I just entered the stock market about 1.5 months ago.
While I havent lost a world of money, I have lost at least a good portion of my investments in QBID, CMKX & now GZFX (which out of the three, seems like the best potential of actually doing something).
Am I better off forgetting about these micro-penny stocks as they seem to be nothing more than people pumping them up, getting out and watching them fall.
Dealing in micro's takes a lot of guts and if your not able to take the wild swings you should'nt be in them, its not for everyone, no insult intended. Dealing in the higher priced stocks is much safer as the can be tracked and predicted much easyier. I myself keep about 95% of my money in large caps and funds and only have a small ammount in the penny's and micro penny's and use this as play money. You will see 2-300% swings in the micro's in a day and thats great if it's going up and kills you if it's going down.The odds of finding a micro that makes it big is about 1 in a thousand if your lucky so remember to take profit as it runs up and NEVER, NEVER invest more than you can walk away from if it all goes away. Good luck trading
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I think the problem you may have had is you bought strictly on tips and didnt do your DD ... the stocks you named are all the ones the pumpers were naming on this and other boards.. you probably jumped on those stocks way after they had already gone up ... i predicted awhile ago that people would lose money on Qbid cause all it was , was a Pump & Dump.. gladly i didnt get into that stock.. anyways also doesnt sound like you know much about trading.. so i would suggest is sell off your positions, keep them in your account and read a book or 2 on trading.. my suggestion for a book would be
A Beginner's Guide to Short Term Trading by Toni Turner ... www.toniturner.com ....
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Read everything on this site and sort out 3-4 of the most reputable players. Listen carefully and do your own DD and make your own decisions. Don't listen to anyone you don't "know".
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