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mpfrankel
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Just out of curiosity, is there anyone who actually makes a decent living in this? I may be a little pessimistic, but it just seems like there is waaay too much corruption in sub-pennies, with a lot of them actually created by crooks for the sole purpose of screwing you out of your money.
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fishfarmer
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Its a crap game my friend. I made 88,000 a few years ago and have lost about half of it since then.

--------------------
Buy when blood runs in the streets

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mpfrankel
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Yeah I gather that its pretty much 50/50 (or less). I usually trade NASDAQ/NYSE stocks and I'm fairly good at that, but I set aside $1000 to mess with pennies and see what happens.
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Homersbud
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quote:
Originally posted by mpfrankel:
Just out of curiosity, is there anyone who actually makes a decent living in this? I may be a little pessimistic, but it just seems like there is waaay too much corruption in sub-pennies, with a lot of them actually created by crooks for the sole purpose of screwing you out of your money.

Yes, it's possible to make a living trading these pos', but it's getting harder and harder. Too many scams out there now. Buy fast, and sell even faster.

Better to play with lunch money and throw the big money into real stocks that actually have a business.

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mpfrankel
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True story....the first time I messed with pennies was about 5 years ago. I bought $500 worth of a company with the ticker PAVP...it went up at first to around $800, and like an idiot, I held it. Since then it has changed symbols 5 times, done 3 r/s's, and my original $500 investment is now worth 26 cents! I guess its my fault though that I didn't sel quick enough and now some criminals have my money [Smile]
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fishfarmer
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Incendently my big gain was a total scam, I just hit it right.

--------------------
Buy when blood runs in the streets

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farmerboy
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It's a crap game if you don't know what your doing otherwise it is very possible to get rich. you need to work at very hard and follow the the boards and read the ones that are good. You need level 2's a fast trading platform. You need to get in on bottoms so you need to look at charts etc. You need to learn patience and never sell...they always go back up if your holding low O/S low float stocks. it's not that hard.
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mpfrankel
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Have you gotten rich doing this....just out of curiosity? I've never heard of anyone who has
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PCola77
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I'm guessing that you're not one of the ones that's doing very well at this?

quote:
Originally posted by farmerboy:
never sell...they always go back up if your holding low O/S low float stocks. it's not that hard.


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mpfrankel
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Yeah I thought that quote was contradictory to everything your supposed to do with pennies?
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farmerboy
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If you do something stupid like buying at a high you will lose you money fast thats for sure but you never lose unless your in a real dud. If you know what your doing this should not happen. When you get in on good stocks at the bottom and the chart and story are positive yes you can get rich fast. Never get greedy! I got into MSTF * .0011 and sold * .01 $1100.00 turned into $10,000 in a week. Here's the example MSTF ran from .0011 to .0038 on it's first day and then dropped back to .002 for two days and the next it ran to .015. Let say if you got in at around .0032 and held overt night and sold the next day because you got scared you would have lost a lot. If you were follwing the story and watching your level 2's you would have known it was a shake. Get it!
Today PRMC ran to .006 I got in *.007 last week why did i buy it because the people who I listen to and respect were loading up for the past two weeks...patience!! I sold today * .0035 for a 2800.00 profit. Lets say you you got in today * .0045 and now it's at .0023 the stupid thing to do is sell. Wait and see where it goes and when it finds bottom average down and wait...
How did i know this would happen because the guys loading up are good. Watch EXPT and see if we are right about this one.
Watch IVCM and buy it * .0005 if you can and wait...it may take a day or a week or a month or 3 month. If your looking for fast cash you will get killed. I've played IVCM twice in the past week or so and profitted both times. Got back in today *.0006 now i wait. Don't get greedy and put more than you can lose.

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PCola77
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quote:
Originally posted by farmerboy:
I got into MSTF * .0011 and sold * .01 $1100.00 turned into $10,000 in a week.

You really want to play this game?

farmerboy posted February 11, 2008 10:21 AM
--------------------------------------------------------------------------------
This is the way a stock that is going to run behave's like. If it were that easy everyone would be doing this. Also iyou didn't take profits today then perhaps you shpuld look at why you are doing this. Needs to hold above that 3 today

farmerboy
posted February 14, 2008 03:37 PM
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could be worth 5c when said and done...10c would be sweet

farmerboy
posted February 19, 2008 01:02 PM
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don't fret campers this is a monster. looking for a 2 cent close


So you bought at .0011 and sold at .01, yet you commented that basically you'd have to be a moron to not have taken profits when it was about 1/3rd of the way towards the top of your claim. Would be tough to make as much as you claim if you were being smart and taking profits on the way up. And then you were calling for .02, .05, .10? So you have to admit to being one fo two things, a scammer trying to get others to buy, or completely, totally WRONG about where this stock would go.

But hey, good effort.

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classified
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**cricket**cricket** [Frown]
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Jo4321
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One key piece of advice from me would be this:

If you do luck out and get a winner (even if it is a scam), after you sell it and have your profits, NEVER, NEVER, EVER, NEVER, EVER, EVER buy that same stock again.

I can't tell you how many 100-900% gainers I had playing the pennies (which I don't do anymore) that are now 70-90% losers because I bought them back trying to flip for more profits.

(well, I guess I CAN tell you a few that I remember: CSHD, XSNX, STTK, FRPT )

Jo

--------------------
"Great Day for Up!"....Dr. Seuss

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T e x
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Jo...

jo, jo, jo...

That's "trader superstition."

Although, there *is* some truth to it, in this sense: QBID had one big run, which produced a cult following. We can all name dozens of others.

So, yeah--hit the run for whatever your risk tolerance allows, then put it down.

On the other hand, I watched Pagan play GTEL like a violin over many months.

Point being, with certain issues, one can "stalk" their behavior and do well by learning individual patterns of each stock.

Truth is, I *do* tend to play something once, then move on for the next one. That being said, I have also noticed some traders focusing on certain "pattern stocks" who do quite well.

Now--this is true as I can say it--This is NOT superstition: If you get burned and FEEL LIKE a stock "OWES YOU"? is a very, very, bad idea to trade that stock again...

At least, until you get over being emotional about trading.

Anytime, anything you FEEL about a play should be a red flag...

Save your feelings for your sweetheart and kids...

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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beechwood
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Yes you can make money with pennies but I
wouldn't put all your eggs in this basket.
Micro and Nano-Caps are highly subject to
MM manipulation ( and other tricks from
the trading floor) all designed to
rip you off.
And given the current state of the economy
they're working even harder to that end.
I only put 5% or 6% of my entire pie to
to work in this arena.
If I make money ( and I do ) then great.
If I lose money ( and I do ) its money
I can afford to lose.
I keep hearing horror stories from guys that
threw all they had into the pennies and lost.
Oh well....

I don't give much creadence to pics posted on the penny boards.
I tune in mainly to find out which pics to AVOID!
And for the most part I haven't been to disappointed.
DON'T buy on recommendations from people in
in this forum alone or the latest "hot stock pick".
There are to many paid pumpers in here hyping
the same pics over & over & over ( a major
red flag in itself ).
Due your own DD.

Personally, I've liquidated over half of
all my holdings away from the market and
bought gold & silver when it was still
~$460 an ounce/~$8.60 an ounce respectively.
I'm holding onto a lot of precious metal my freinds -- and I mean a lot!
Also, bags & bags & bags of silver pre-1960's
coins while they are still available ( they
were the main money accepted by merchants
during the Great Depression ).
My guess is they won't be available much longer as our currency is becoming worth less & less
as foreign interests dump their holdings.

Just a word to the wise -- and even the boyz
in the boiler room -- DIVERSIFY!
Don't put all your eggs in stocks.
Precious metals continually reach new supports
as they trend upward ( a reverse sign for the
market overall).
Unless G. Dub'ya declares Marshall Law ( and that's not out entirely out of the question )
metals will continue to climb to new heights.
Keep your eye on the ball in all Xchanges --
especially pennies.

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T e x
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strange days when pennies are more "stable" than Bear Stearns-era big boards...

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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beechwood
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Here is an excellent paper for anyone with
core questions about the pink & BB markets...


http://www.sec.gov/rules/concept/s72499/klaser1.txt


I would also recommend "The Naked Trader"
by Robbie Burns for new traders.
It's available at Amazon for around $20 bucks.

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T e x
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good post

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Machiavelli
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quote:
Originally posted by PCola77:
I'm guessing that you're not one of the ones that's doing very well at this?

quote:
Originally posted by farmerboy:
never sell...they always go back up if your holding low O/S low float stocks. it's not that hard.


lol [Roll Eyes]

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

Ernesto "Che" Guevara de la Serna

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oldstocks
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I bought a gold stock last year for .08 and sold it for .56 last week. I was gambling and not investing. I wish that I had bought more than one share. Just kidding, I had 6500 shares.
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Machiavelli
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Care to tell us which stock your talking about?

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

Ernesto "Che" Guevara de la Serna

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Jacob
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Does anyone know what websites to use for scanning stocks based on tech. analysis??

Do they cost money??

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T e x
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stockcharts.com is free, and there's another one, too whose name escapes me at the moment. Mach knows it, though.

maybe I can find it on DD machine...

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Machiavelli
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smallcapcenter.com .... click on Tools >>> Technical Search

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

Ernesto "Che" Guevara de la Serna

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beechwood
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Good site...
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T e x
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quote:
Originally posted by Machiavelli:
smallcapcenter.com .... click on Tools >>> Technical Search

yeah, that's it...

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...

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steve1404
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i got caught up with good live china been new to stocks and shares i bougt 500.00 at 1 pence each i thought it was a real company until i thought how many of the co in the uk put out press realeases ever day none and glcc looked to good to be true i was lucky i manged to sell my shares for a profit but i feel sorry for the people like me that get caught up by theese scams and loose money they should be more regulation to monitor theese and bring thm to justice i have learnt my lesson from this ad ther s a lot of people pumping the penny stocks my advice now gthem as low as you can try double your money an getthe hell out of there
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beechwood
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I generally shoot for a 75% gain within a
one or two day period based on any
favorable PR, etc.
Sometimes this can happen in a few hours or less.
Very doable if you're on your toes.
However, if you start getting greedy you will
likely wind up one of the bagholders in the end
(better you than me).

I also use about a half-dozen reputable volume filters from unaffiliated sources (non-corporate). Very usefull.
If I get a hit on 4 or 5 of them at once I then cross check for false volume between MM's and
jump in.
Level II's are a good place to start for same.
Forget TA/FA in pennyland.
The laws of trading physics do not apply there.
Its all MM, PR, and volume.
You can win more than you lose with a good stradegy.

The MM's have started giving something back to
the OTCBB in recent days.
They just aren't leaving the door open for to long when they do - they can't afford to.
The train comes and goes in a flash.
And theres more than one train on the track going
your way - you just be ready to board her when
she comes in.
I think the MM's are finally starting to realize that there is no game without an opposing team.

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