Discussion in ' Investing and Trading ' started by 21elnegocio , Dec 23, The Fastlane Entrepreneur Forum. Trading Life for a Weekend? Build a Business, Build a Life. More than likely your entrepreneurial topic has already been discussed.
How do you guys choose your penny stocks? Dec 23, 1. Ok so stocks have always grabbed my attention, but now that I see penny stocks dont need tons of capital and Ive been studying, doing my homework etc. Its time to get in it, only thing im still slackin on is how do you guys choose your penny stocks?
If you guys help me with this goal, I will come back in 5 months with half a million mark my words. Dec 23, 2. Use a filtering tool to search for the characteristics you want.
Dec 23, 3. You should check out Timothy Sykes work if you want to get involved in this field. Buy his training material or go on Profit. You can even piggy-back off other traders trades if you like. Most importantly get educated. If you know nothing about chart patterns and the fundamentals of penny stocks, researching these companies and things to look out for you might get yourself into some trouble. Penny stocks are very volatile. Dec 23, 4.
I steer clear of penny stocks. They are too volatile, and people love to pump and dump. With bigger risk you get bigger rewards but i would probably put 5k on red before i put money on penny stocks. Dec 23, 5. Penny stocks are scams. They are not real companies. They are trading vehicles who's sole purpose is to sell worse stock to unsuspecting newcomers like yourself.
You can do all the home work you want but the fact remains penny stocks have no earnings, most have no revenues, no real product although they claim to have a cure for cancer or the next iphone killer , and no future prospects. They are only for trading in the short term.
Suckers do not realize this and try in invest in these companies but they end up losing big time when they get caught in a pump and dump. Nearly all penny stocks that go up are doing so because of a pump and dump of some sort. I have been trading penny stocks for a decade. He is a short seller and most brokers won't allow shorting penny stocks. The guy also made money buying pump and dumps using awesome penny stocks alerts, but awesome penny stocks is now retired.
Tim sykes rarely made money using the same strategy because like I said he is a short seller, and his strategy for buying penny stocks is not good. You have to learn a strategy of your own and make decisions yourself to be successful in trading. Tim Sykes earns more than 4 million a year from his subscribers to his alerts services and only a few hundred thousand from actually trading. He is very successful because he has people that "follow him" and the truth is these people literally inflate or deflate the price of stocks because penny stocks have low floats and move very easily when hundred or thousands of people all buy or sell at the same time.
Tim does what is called fron running. He won't admit it because that's illegal but this is exactly what it is. He doesn't straight up send an alert and then sell into subscribers but waits for a bit and then sells for a profit nearly every time. The people who scalp for a quick profit make money a lot, but the rest of the subscribers lose their money to the people that are fast with more money who can get in and out fast.
Do yourself a favor and stop thinking you are going to make a million dollars in a year. Penny stocks are very competitive. It takes a few years to learn to be successful and most people fail because they are lazy, poor, undisciplined, and under estimate what the penny stock market really is: If you don't believe what I have just told you then go ahead and try your luck but you are just gambling.
For every person that gets lucky and makes money in penny stocks there's another people that lose. I am not trying to deter your from getting involved but take your time and educate yourself for 6 months.
You have to understand advanced technical analysis and have a trading plan and trading system with a statistical edge. Without this your will not succeed. I took me 2 years to learn to trade. I started in and have trading for a living ever since. ArthurDayne , Berters , Jake and 8 others like this. Dec 23, 6. Dec 23, 7. Dec 24, 8. If you noticed, all the big dogs on this board pretty much sell things. Dec 24, 9. No i do not know what a spread is but im willing to learn everything Dec 24, I mean we are a community right?
I am willing to hustle my ass off even if I make will be good for now. DeletedUser and topherea like this. I just flip a coin. Then pick up the coin. And go back to building a business. Kingmaker , Option , AllenCrawley and 6 others like this. I bought a penny stock one time, on a tip from a buddy. It was a classic pump and dump. I was on the dump end. The stock went through a one billion kazillion reverse split a week after the "hot tip" and I lost my entire "investment.
Kingmaker , Enki , CryptO and 2 others like this. Dec 27, Penny stocks are risky. But u can make tons of profit. And im talking from experience. I see alot of ppl knocking them here. But how many of you have dabbled in them?
Yes they are volitile but all stocks are. So dont believe the bs. Research them as you would with any stock. Set an exit before u invest. I never stay in a penny position more then a hour or so. Decide how much profit u want to take. I once kept a position for a day or two. It was doing good. So I wanted to ride it out. I continue doing well with penny stocks. U can buy a ton of. Sell when the go up.
Alot look for high volume and tons of volitivity. I pick penny stocks with specialized tools a monkey and a bunch of darts. Kingmaker , Enki , topherea and 5 others like this. Kingmaker and Chazmania like this. Kingmaker , Enki , topherea and 4 others like this. You must log in or sign up to reply here.
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