Penny Stocks question | TigerDroppings.com

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bobaftt1212
Virginia Tech Fan
Member since Mar 2013
440 posts
 Online 

Penny Stocks question


I am up percentage wise but by the time you pay the trade fees I am down on all the penny stocks I am in on. Do you guys just do 15000-20000 shares at a time to make it worth it or what?






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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
31962 posts

re: Penny Stocks question


quote:

I am up percentage wise but by the time you pay the trade fees I am down on all the penny stocks I am in on.



Penny stocks are for fools. Hopefully you'll wisen up. It took me losing mucho deniro before I saw the light.






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GenesChin
Ole Miss Fan
The Promise Land
Member since Feb 2012
10651 posts

re: Penny Stocks question


I have over 1k shares in the few that I own (70-90cent). I try and find companies with potential to go for awhile (I mean in relative terms not like 30$) so I don't day trade.

Done fine for me






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I Love Bama
Alabama Fan
Alabama
Member since Nov 2007
31962 posts

re: Penny Stocks question


quote:

I try and find companies with potential


And how do you do this when they are pretty much unregulated and can do/say whatever they want.

Edit: I'm being a dick. My apologies.




This post was edited on 3/21 at 2:46 pm


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bobaftt1212
Virginia Tech Fan
Member since Mar 2013
440 posts
 Online 

re: Penny Stocks question


I love Bama I think everyone can agree that penny stocks aren't much different than gambling but I am wondering if there are better ways to roll the dice that I am not aware of.

Also thanks alot for talking about biggerpockets. That is going to be a huge time suck for me.






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ell_13
USA Fan
Alex Box
Member since Apr 2013
20804 posts
 Online 

re: Penny Stocks question


quote:

Edit: I'm being a dick. My apologies.
Only on the MT would this happen.






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rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
7529 posts

re: Penny Stocks question


If $7.99 trade fees are stealing your profits, you must be buying extremely small amounts.





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sdc74
LSU Fan
Houston
Member since Jan 2007
958 posts

re: Penny Stocks question


I bought $23,000 worth of a penny stock in Dec at 0.33 a share. Today it closed at 0.75. It was 100% dumb luck but I'm happy with it so far.





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southernelite
Iowa State Fan
New Orleans
Member since Sep 2009
40709 posts

re: Penny Stocks question


I've made some profits doing it. Not a huge amount of money. Usually hold 2-3 worth a total of $1k at a time and shoot for $100-200 profit. Sometimes I make a few hundred, sometimes I break even and sometimes I lose.

Overall since January, I've won more than I've lost each time.

Its whatever, if you don't like it, that's you. I'll play with what I can stand to lose all of, and that's on me.






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HuntFishMan
Member since Feb 2014
232 posts

re: Penny Stocks question


I play with a little more money, and you can make a nice bit if you take profits and trade smart, check out the MJ/penny stock board. We've made a lot of money on there





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hiltacular
Georgia Tech Fan
FILA
Member since Jan 2011
8552 posts
 Online 

re: Penny Stocks question


quote:

It was 100% dumb luck

Why did you dump $23K?? That seems like a huge risk/






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sdc74
LSU Fan
Houston
Member since Jan 2007
958 posts

re: Penny Stocks question


quote:

quote:
It was 100% dumb luck

Why did you dump $23K?? That seems like a huge risk/



Well.. my buddy told me about it a year prior. It was 0.07 then and has steadily trended up. I had the money sitting on the side and just took the risk. Trust me.. I was scared as shite the first week but it jumped up quickly.






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roguetiger15
LSU Fan
Member since Jan 2013
3455 posts
 Online 

re: Penny Stocks question


The amount of penny stock threads on here is disturbing. Guys, as a professional in investments STAY AWAY from the shite paper.





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southernelite
Iowa State Fan
New Orleans
Member since Sep 2009
40709 posts

re: Penny Stocks question


I'm all up in there





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rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
7529 posts

re: Penny Stocks question


quote:

Guys, as a professional in investments


I don't think anyone believes them to be investments. At least I hope not. The majority of people in these threads (me included), have the majority of their money in regular stocks, index funds, and mutual funds for the long term.

As long as you know that it's gambling then go ahead. I don't need somebody to tell me not go to go to Harrah's, I know it's a gamble and I could lose money, but I go anyway for fun. As long as you aren't playing with your rent, or your kids tuition. In that case you have a problem.

Some people like to live a little riskier than others. We don't need daddy wagging his finger at us.




This post was edited on 3/21 at 5:51 pm


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roguetiger15
LSU Fan
Member since Jan 2013
3455 posts
 Online 

re: Penny Stocks question


I'm not wagging my finger. You do what the hell you want. I'm simply giving proven advice. Over time you will lose gambling. The house ALWAYS wins In the long run for 99% of people. If you want to gradually lose your money over time go ahead. And in terms of "investment", read the definition of that word and then come back to me and try to explain how putting money in any potentially profitable outcome isn't considered an investment





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rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
7529 posts

re: Penny Stocks question


I believe you, and i agree with most of what you're saying. I'm actually not trying to argue with you at all.

What I'm saying is, everyone knows the risks, they've heard it before, but it's exciting and fun, and hell, some people have made a good bit of money. It's no different than blowing money elsewhere for adrenaline kicks.






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roguetiger15
LSU Fan
Member since Jan 2013
3455 posts
 Online 

re: Penny Stocks question


I understand your point. I didn't mean to come off as wagging my tail, that was not my intention and I apologize for coming off as such. I along with the majority of red blooded Americans like to go roll the dice here and there,the importance is just understanding the differentiate between investing for retirement and investing for pleasure


This post was edited on 3/21 at 6:36 pm


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rintintin
New Orleans Saints Fan
Life is Life
Member since Nov 2008
7529 posts

re: Penny Stocks question


quote:

he importance is just understanding the differentiate between investing for retirement and investing for pleasure 


Great line there, I like that one.

quote:

 I along with the majority of red blooded Americans like to go roll the dice here


And on that note, come join the party!






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