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Penny Stocks question
Posted on 3/21/14 at 2:34 pm
Posted on 3/21/14 at 2:34 pm
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?
3
Posted on 3/21/14 at 2:38 pm to bobaftt1212
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.
Posted on 3/21/14 at 2:39 pm to bobaftt1212
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
Done fine for me
Posted on 3/21/14 at 2:43 pm to GenesChin
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 3/21/14 at 2:46 pm
Posted on 3/21/14 at 2:55 pm to I Love Bama
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.
Also thanks alot for talking about biggerpockets. That is going to be a huge time suck for me.
Posted on 3/21/14 at 3:22 pm to I Love Bama
quote:Only on the MT would this happen.
Edit: I'm being a dick. My apologies.
Posted on 3/21/14 at 3:39 pm to bobaftt1212
If $7.99 trade fees are stealing your profits, you must be buying extremely small amounts.
Posted on 3/21/14 at 4:13 pm to rintintin
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.
Posted on 3/21/14 at 4:19 pm to I Love Bama
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.
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.
Posted on 3/21/14 at 4:23 pm to southernelite
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
Posted on 3/21/14 at 4:25 pm to sdc74
quote:
It was 100% dumb luck
Why did you dump $23K?? That seems like a huge risk/
Posted on 3/21/14 at 4:33 pm to hiltacular
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.
Posted on 3/21/14 at 5:24 pm to sdc74
The amount of penny stock threads on here is disturbing. Guys, as a professional in investments STAY AWAY from the shite paper.
Posted on 3/21/14 at 5:38 pm to HuntFishMan
I'm all up in there
Posted on 3/21/14 at 5:45 pm to roguetiger15
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 3/21/14 at 5:51 pm
Posted on 3/21/14 at 6:02 pm to rintintin
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
Posted on 3/21/14 at 6:18 pm to roguetiger15
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.
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.
Posted on 3/21/14 at 6:31 pm to rintintin
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 3/21/14 at 6:36 pm
Posted on 3/21/14 at 6:54 pm to roguetiger15
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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