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Author Topic: PENNY STOCKS ARE NOT WORTH IT
mastermind555
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the truth is, 9 out of 10 are failures and just give you false hope

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I'm a genius at 16. Believe it.

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mizzou7
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That's the best statement posted on this site... and, ABSOLUTELY CORRECT (other than it's more like 9.99%)!!! Most are just "SCAMS" and feed on small time investors that have nothing but dreams.

2006 was it for me with Penny Stocks... I have two left and will sell as soon as feasible.

quote:
Originally posted by mastermind555:
the truth is, 9 out of 10 are failures and just give you false hope


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IamtheWalrus
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Yeah, if you are investing in the long term...penny stocks can and most likely will all be worthless at some point or another. Very few of them actually go anywhere. Too many IOU's..R?S...etc etc...kill them most of the time. If anyone here is considering investing in a penny stoick for the long term, do your decision making based on thorough investigation of the company. Now for daytraders like myself, penny stocks are plenty of fun and can, if approached with plenty of TA, be very profitable. So, for Long-term investors TA is good, but cold hard research is the best. For short termers (1-day to 2 weeks-MAXIMUM) have fun...I am.

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goo goo g'joob

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STAR GAZER
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First of all, if you do your due dilligence, you won't have 9 out of 10 loosers. Secondly, even if you do have 9 out of 10 loosers, it is that 1 out of 10 winning stock that gives you over a 10,000% profit that makes up for all the loosers. That is the name of the game in investing in penny stocks, because only in penny stocks can you have a reasonable chance of getting the 10,000% winner. A little over a year ago I went on and on about URMP which became CWPC and now that they are on a major exchange they have the symbol BQI. It's a Canadian oil stock that was going for .25/share and it stayed there for months. Some people besides me actually bought shares in the company. Since then it climbed to $8/share before backing off to $5/share, which is still a 20,000% rise, and as I have stated since it was .25/share, since all indications are that it has tens of billions of barrels of oil on its land, it's minimum price target price is $50-$100 a share, still a 10,000% to 20,000% rise from its present price and over a 200,000% to 400,000% rise from its .25/share earlier price. A 200,000% profit would make up for a lot of lot of loosers. And if you have been with allstocks for a while you will know that there have certainly been other +10,000% winning stocks brought to our attention by other people on this board. What you do is find a stock talked about by people that looks interesting to you and then do your DD on it. Or, you can do your own DD on stocks and if you find an interesting one, you can talk about it on this board so that other people can look into it. Ok, ok, I hear you saying, fine, but what about here and now, can you name any other stock that is going to go up +10,000% from its opening price this coming Wednesday? Easy, no problemo. I talked about IRNG a year ago when it was 4 cents a share. A lot of people before me bought it at .03/share. Friday it closed at .15/share, a 5,000% rise for them, BUT it has barely begun its move upward. My minimum target for IRNG is $3/share, and I say minimum because it is probably going to go higher than that. But even at .15/share, $3 will be a 20,000% price rise. But even besides the chance for make huge profits with penny stocks, the reason I like being in penny stocks is because it is fun. But I realize that it is no fun to lose money, and boy, can you lose money in speculative penny stocks. So my suggestion is that you only put some of your money in penny stocks, and if you lose it, then wait until the next year before putting more money in penny stocks, but you can continue playing them on paper. Eventually, hopefully, you will get better at buying penny stocks and eventually, or even shortly, you will get rich buying penny to dollar stocks.
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Screamer
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quote:
Originally posted by mastermind555:
the truth is, 9 out of 10 are failures and just give you false hope

Since 2001, my total nyse/nasdaq investments have shown an annual return of 8% (not bad,not great). My total otc/pinks average annual returns averaged 27% (pretty good).

If I had to guess, 70% of my otc/pinks were break-even or losses. My winners were HUGE.

Sorry that you haven't had any winners.

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BooDog
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Great post Star Gazer. research research research. I recommend increment buying after you do your DD. And never put in what you can't afford to loose. allstocks home page says it best "98% of all pinks are scams". I have seen a couple pretty dam good scams so far since i started in the pinks this past May -- and a lot of people make some good money from them. I know I only mentioned pinks but there are plenty of ob's and other exchanges that have their share. The newbie threads have plenty of good brain food to help make your days better in the stocks. Also check out all the info from the home page. http://www.allstocks.com/. I am still learning but i like the pinks and the ob's but having some "real" stocks in your portfolio is "priceless". Good luck to all for '07!!!

The Boo

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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BooDog
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http://www.best-world-stock.com/attitude.php
An article putting things in perspective. This site also has a lot of tips and guidance.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Machiavelli
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Seriously guys... if you want to get those returns without any scams you should explore FOREX... only 7 major currencies to keep track of instead of 9,000 stocks to weed through for that diamond in the rough... you can short or go long on currencies and you do not need a $25,000 margin account to short currencies.. no scams whatsoever in FOREX... you can open a account for as little as $100 and also control $100,000 worth of currency for not much.. you get anywhere between 100:1 to 400:1 leverage... etc.. etc.. check out the site below:

www.babypips.com

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rkitch
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Haven't checked in for awhile to see the posts but saw this from you Machiavelli and it seems interesting. Checked it out and it might be worth trying.
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metal1
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quote:
Originally posted by STAR GAZER:
First of all, if you do your due dilligence, you won't have 9 out of 10 loosers. Secondly, even if you do have 9 out of 10 loosers, it is that 1 out of 10 winning stock that gives you over a 10,000% profit that makes up for all the loosers. That is the name of the game in investing in penny stocks, because only in penny stocks can you have a reasonable chance of getting the 10,000% winner. A little over a year ago I went on and on about URMP which became CWPC and now that they are on a major exchange they have the symbol BQI. It's a Canadian oil stock that was going for .25/share and it stayed there for months. Some people besides me actually bought shares in the company. Since then it climbed to $8/share before backing off to $5/share, which is still a 20,000% rise, and as I have stated since it was .25/share, since all indications are that it has tens of billions of barrels of oil on its land, it's minimum price target price is $50-$100 a share, still a 10,000% to 20,000% rise from its present price and over a 200,000% to 400,000% rise from its .25/share earlier price. A 200,000% profit would make up for a lot of lot of loosers. And if you have been with allstocks for a while you will know that there have certainly been other +10,000% winning stocks brought to our attention by other people on this board. What you do is find a stock talked about by people that looks interesting to you and then do your DD on it. Or, you can do your own DD on stocks and if you find an interesting one, you can talk about it on this board so that other people can look into it. Ok, ok, I hear you saying, fine, but what about here and now, can you name any other stock that is going to go up +10,000% from its opening price this coming Wednesday? Easy, no problemo. I talked about IRNG a year ago when it was 4 cents a share. A lot of people before me bought it at .03/share. Friday it closed at .15/share, a 5,000% rise for them, BUT it has barely begun its move upward. My minimum target for IRNG is $3/share, and I say minimum because it is probably going to go higher than that. But even at .15/share, $3 will be a 20,000% price rise. But even besides the chance for make huge profits with penny stocks, the reason I like being in penny stocks is because it is fun. But I realize that it is no fun to lose money, and boy, can you lose money in speculative penny stocks. So my suggestion is that you only put some of your money in penny stocks, and if you lose it, then wait until the next year before putting more money in penny stocks, but you can continue playing them on paper. Eventually, hopefully, you will get better at buying penny stocks and eventually, or even shortly, you will get rich buying penny to dollar stocks.

nice examples but all your percentage gains are off.
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Machiavelli
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quote:
Originally posted by rkitch:
Haven't checked in for awhile to see the posts but saw this from you Machiavelli and it seems interesting. Checked it out and it might be worth trying.

Definetly is.. i been reading up on it and exploring it.. i forgot to mention that you can also open a "paper" or as they call it a "demo" account with the brokerages in real time and adds/subtracts your profit/losses of your "paper" money so you can see how you do... it is free to open a demo account with the brokerages.. also they do not charge commissions but only transaction fee's based on the spreads between bid/ask.. the smaller the spread the smaller the transaction fee.. FOREX has so many more advantages then to the stock markets and especially pennies.. like i had mentioned before you can go short and not need a $25,000 margin account to do so... you can go Long and if the trade goes against you , you can liquidate immediately (much faster then in the stock market) and switch gears (go short) or vice versa...
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rkitch
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Thanks my friend.
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kermit42
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Mach: Thanks for the tip. I just opened a forex.com account to try it out.

It's a good thing they let you practice trade for a while. It's Greek. Dyslexic Greek. Nearsighted dyslexic Greek. I made some paper purchases and if it didn't tell me how much I am down, I'd never figure it out.

It'll probably take me a month just to get the basics.

Edit: the 30-min charts will give me plenty of practice cnadling.

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Me Trade Pretty One Day.

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Machiavelli
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go to the www.babypips.com site and click on School.. .that should give you the basics.. but start from the beginning and don't skip anything... even if you think you know it already...
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Machiavelli
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www.babypips.com >>>> School >>>> Preschool ... that will give you the basics on how the FOREX Market works...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Ace of Spades
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quote:
Originally posted by Machiavelli:
www.babypips.com >>>> School >>>> Preschool ... that will give you the basics on how the FOREX Market works...

I have a Hypotheitcal question going by this chart

http://photos1.****ger.com/x/****ger/4243/2522/1600/409899/doll.jpg

The Us dollar recently went from 1.26 to 1.33 in only 2 months

That's a 5.5 % increase. So could you if you had 100:1 buying power...could you have turned $10,000 into $65,000 in only 2 months ? ? ?

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permanentjaun
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For those considering forex I would like to point some things out.

This is in response to Machiavelli's point about only needing to track 7 major pairs. I'm here to tell you that you don't even need to track 7 pairs. When you trade GBP/USD and USD/JPY you're essentially trading GBP/JPY. Many of the pairs are very closely correlated. EUR/USD tends to have more than 85% correlation to GBP/USD.

So you don't even need to trade 7 pairs. You could do very find trading just one. Yes, just one.

Ace of Space, yes you could have turned 10,000 into 65,000 in 2 months. The problem is if you only have $10,000 in your account. Everything is on margin so you are not able to trade the full 10,000. You don't need to though. Because of the leverage price moves enough to make several hundreds or thousands in a day.

That's another thing that is nice about forex. You only need to trade 1 currency, and that currency is always going up or down. Volume does not leave. You don't get caught "holding the bag" in forex. There is always money flowing in and out. It's a completely different game though. You need to know how to trade both ways. Matt

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permanentjaun
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Oh forgot to mention the point of what I was trying to make. The reason you don't, and shouldn't trade all 7 majors is because you're essentially hedging. Since most of the major pairs are correlated that if you take positions in both you are either hedging your trade or doubling your risk. It would be the same as trading only one pair and either doubling your trade size or not trading at all.

Although, there are strategies concerning carry trades. This involves hedging two correlated pairs so you don't gain or lose any equity from the price fluctuations, but you gain money from interest you earn on the positive interest currency.

There are many new and innovative strategies that are possible in forex that not even Nasdaq can provide. I really suggest that everyone gets out of penny stocks. Nasdaq is still fine, but pennies are a joke. You're only wasting your time. Forex is large enough that I can trade $10 just as easily as I can trade $1,000,000. It is the largest market in the world by many times over. Matt

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Machiavelli
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quote:
Originally posted by permanentjaun:
Oh forgot to mention the point of what I was trying to make. The reason you don't, and shouldn't trade all 7 majors is because you're essentially hedging. Since most of the major pairs are correlated that if you take positions in both you are either hedging your trade or doubling your risk. It would be the same as trading only one pair and either doubling your trade size or not trading at all.

Although, there are strategies concerning carry trades. This involves hedging two correlated pairs so you don't gain or lose any equity from the price fluctuations, but you gain money from interest you earn on the positive interest currency.

There are many new and innovative strategies that are possible in forex that not even Nasdaq can provide. I really suggest that everyone gets out of penny stocks. Nasdaq is still fine, but pennies are a joke. You're only wasting your time. Forex is large enough that I can trade $10 just as easily as I can trade $1,000,000. It is the largest market in the world by many times over. Matt

I said there was 7 Major currencies not pairs.. don't make me shave your head off so you look like Mr. Clean lol 7 Major currencies traded as pairs compared to 9,000 stocks on like 5 different exchanges/markets... Most peeps don't know what you mean by pairs... FOREX has it's own language that they need to learn which they can on the links i recommended...

7 Major Currencies:

1. USD = US Dollar

2. EUR = Euro

3. JPY = Japanese Yen

4. GBP = British Pound

5. CHF = Swiss Franc

6. CAD = Canadian Dollar

7. AUD = Australian Dollar

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Ace of Spades
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Machiavelli,

What do you think about this software for the FOREX...

It looks pretty bad Ass

http://www.topgunsoftware.com/forextrading.html

Or this for stocks

http://www.topgunsoftware.com/stocktrading.html

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Machiavelli
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Looks very kickass... maybe even more so then Metastock software .. topgun might have too much though..

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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permanentjaun
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Ace of Spades,

I'd be careful. The site doesn't look very professional. The software looks alright although don't bother trading any indicator for forex that works on volume. Your broker can not come anywhere close to accurately measuring volume in forex. At most they would be able to tell you the volume they're handling, but there are hundreds of brokers all over the world all handling millions and maybe even billions of dollars. So volume indicators will be lacking all the information to give you a clear signal.

I also wouldn't bother with them because they require you make so many trades to have the software for free. I can't even find a demo account through this company. ALL of the top/legitimate forex brokers offer demo accounts so you can trade forex live to practice as well as test their platforms.

You should really look for some of the top brokers and try them. I like GFT Forex, because of their charting. Machiavelli doesn't. It's a personal taste. Demo any forex broker though. You'll soon be asking why don't stock brokers offer this charting power, and if they do why they make you pay for it. It's really amazing what I can do with a chart now that I used to have to pay at least $30 a month for in stocks. Anyways, be careful with where you put your money. Matt

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Ace of Spades
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Yeah, I don't know much about Forex.

But that scanner is awesome for stocks...And it can be integrated right into esignal or DTN data feeds.

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Machiavelli
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I can recommend two books to get you started Ace:

Getting Started in Currency Trading (Winning in Today's Hottest Marketplace) by Michael D. Archer & Jim L. Bickford

Beat the Odds In Forex Trading: How to identify and profit from high percentage market patterns by Igor Toshchakov

If not then read the recommended links i gave in earlier post...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Ace of Spades
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Thanks Mac...
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kermit42
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Have any of you tried forex.com?

I signed up last week and have done pretty well just using their 15-min candle charts (play money, of course).

I have not yet tried to use their research features.

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Me Trade Pretty One Day.

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Machiavelli
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The one I use is www.cmsforex.com ...

--------------------
Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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ROOFER
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IS THERE ANY TROUBLE SELLING THESE SMALL STOCKS --ROOFER

--------------------
GEORGE BINTNER

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Ace of Spades
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quote:
Originally posted by ROOFER:
IS THERE ANY TROUBLE SELLING THESE SMALL STOCKS --ROOFER

Only if the volume is low...You should only buy stocks that have a good number of trades.

That's why I sort the stocks by the # of trades at microcaptrade.

http://www.microcaptrade.com/ind/platform_features-features.html

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paulbest
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quote:
Originally posted by mastermind555:
the truth is, 9 out of 10 are failures and just give you false hope

I agree, there are only 1-3 in 20 stocks mentioned on the below 10 cent forum that are worth considering.
But there are some dandy's.
What you need to do is have a margin acct and learn the game of flipping. Can be dangerous IF you do not know what you are doing AND IF you do not know the history of the price of the stock, the co, shares, AND IF you do not know how to read all the different charts, moving averages, chaikin money flow, , whats the rumors surrounding the co, news expectations, etc. ONLY 1-3 in 20 stocks mentioned in the below 10 cent are worth considering. So every week you may find 1 or 2 good picks. Now you build from that. Keep an eye on YOUR BEST PICKS. Don't watch too many.
Look at AVTI. I know why this stock rocketed like it did in Nov.(medical conference), its a snail stock, but may "pop" one day. It stays around 2.5 cents, you really can't flip it for much, until it pops.. Its a hold stock and one day will pop. YOU WILL NOT LOSE ANY MONEY and will have to wait patiently for it to "pop. Now you have to be at the computer when it "pops" as it will sink with profit taking, rather quickly. .

Look at MENV, ck out the topic, when posted was 2.5 cents, gained in value since earlt Dec, now close to .07. THis is a very very rare penny stock as its a GROWTH penny stock. Very rare.
There are 4 main groupings of penny stocks. MENV is in the select group that holds its value.

So trading in pennies is part skill/part luck. Its like any 9 to 5 job, and like any trade that requires skill , you must "learn the ropes", and also you must get 'schooling" that is an education. Learn charts/figures.
There are certain laws on some pennies, the 4 groupings/each group operates with a slightly different set of laws.
Also intuition helps. Some traders do not have much intuition and stay with a stock like they are part of a club, or a cult.

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Do not invest on any of my suggestions

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Upside
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quote:
Originally posted by paulbest:
quote:
Originally posted by mastermind555:
the truth is, 9 out of 10 are failures and just give you false hope

I agree, there are only 1-3 in 20 stocks mentioned on the below 10 cent forum that are worth considering.
But there are some dandy's.
What you need to do is have a margin acct and learn the game of flipping. Can be dangerous IF you do not know what you are doing AND IF you do not know the history of the price of the stock, the co, shares, AND IF you do not know how to read all the different charts, moving averages, chaikin money flow, , whats the rumors surrounding the co, news expectations, etc. ONLY 1-3 in 20 stocks mentioned in the below 10 cent are worth considering. So every week you may find 1 or 2 good picks. Now you build from that. Keep an eye on YOUR BEST PICKS. Don't watch too many.
Look at AVTI. I know why this stock rocketed like it did in Nov.(medical conference), its a snail stock, but may "pop" one day. It stays around 2.5 cents, you really can't flip it for much, until it pops.. Its a hold stock and one day will pop. YOU WILL NOT LOSE ANY MONEY and will have to wait patiently for it to "pop. Now you have to be at the computer when it "pops" as it will sink with profit taking, rather quickly. .

Look at MENV, ck out the topic, when posted was 2.5 cents, gained in value since earlt Dec, now close to .07. THis is a very very rare penny stock as its a GROWTH penny stock. Very rare.
There are 4 main groupings of penny stocks. MENV is in the select group that holds its value.

So trading in pennies is part skill/part luck. Its like any 9 to 5 job, and like any trade that requires skill , you must "learn the ropes", and also you must get 'schooling" that is an education. Learn charts/figures.
There are certain laws on some pennies, the 4 groupings/each group operates with a slightly different set of laws.
Also intuition helps. Some traders do not have much intuition and stay with a stock like they are part of a club, or a cult.

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Do not invest on any of my suggestions

Your signature is about the only thing I can agree with. To suggest that any penny stock is a long term hold is ridiculous. To state firmly that "you will not lose any money" if you hold AVTI borders on lunacy. Tell that to the people who owned it when it had a 1 for 50 reverse less than a year ago. You should learn what you're talking about before you start handing out advice.
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Robdizo
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forex is more brutal than pennies if you do not know what you're doing. It makes daytrading pennies seem like a walk in the park..get familiar with the stop loss if you go down that forex road..
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ROOFER
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THANKS FOR THE INFO.-ACE OF SPADES--&MICROCAPTRADE.COM--APPRECIATE IT --ROOFER

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GEORGE BINTNER

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permanentjaun
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quote:
Originally posted by Robdizo:
forex is more brutal than pennies if you do not know what you're doing. It makes daytrading pennies seem like a walk in the park..get familiar with the stop loss if you go down that forex road..

Yea if you don't know what you're doing. You can trade a lot safer on forex though. Micro account brokers have pip values of .01 so it would be hard to lose more than $5.00 on a bad trade, and for that to happen you'd have to be extremely careless. Don't over leverage yourself.
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quote:
Originally posted by permanentjaun:
quote:
Originally posted by Robdizo:
forex is more brutal than pennies if you do not know what you're doing. It makes daytrading pennies seem like a walk in the park..get familiar with the stop loss if you go down that forex road..

Yea if you don't know what you're doing. You can trade a lot safer on forex though. Micro account brokers have pip values of .01 so it would be hard to lose more than $5.00 on a bad trade, and for that to happen you'd have to be extremely careless. Don't over leverage yourself.
true true, however limiting loss limits profits, but its most def. fun to trade. i loved the 24/hr trading and making expert advisors.. but yeah demo first is always a good idea
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