11 {{ upvoteCount | shortNum }}
11 {{ upvoteCount | shortNum }}

Penny Stocks

by DURABLEOILCOM
8 replies
  • OFF TOPIC
    • |
Does anyone have knowledge/experience with Penny Stocks? I read this article which sparked my interest. Penny stock trader: From $1,500 to $1 million in three years - Dec. 16, 2013
  • Profile picture of the author moneycoin
    I trade both the stock market and FOREX. I can tell you that penny stocks are very dangerous. The reason is that like the one you are looking into, they want people to buy in to move the stock that way they can dump it. People start buying the price goes up then boom it crashes down with no warning. Now you are stuck holding worthless stock. IF you want to trade the markets hit me up and I can point you in the right direction
    {{ DiscussionBoard.errors[9258198].message }}
  • Profile picture of the author DURABLEOILCOM
    Is this legit? How to trade stocks and learn trading strategy | Online Trading Academy
    Signature


    Ready to Be The Bo$$!?!

    Start Your Own Business Today!
    {{ DiscussionBoard.errors[9258218].message }}
    • Profile picture of the author Alexa Smith
      Banned
      Originally Posted by DURABLEOILCOM View Post

      My guess is not.

      I trade only forex, but I sometimes visit "trading forums" in which penny stocks and other forms of trading are also discussed, and I've read many dreadful things about it, and never anything good at all, as far as I can recall. Second-hand information only, of course (but quite a lot of it).
      {{ DiscussionBoard.errors[9259029].message }}
  • Profile picture of the author seasoned
    Moneycoin is right. To be on a major exchange like the new york, or even the NASDAQ is VERY hard!

    Many penny stocks are that for a reason, or they are n the pink sheets, etc... Its far easier to get there. So you have people with crazy ideas, bad credit, etc... on there.

    ANOTHER problem is that they tend to be CHEAP! So a guy may buy them dirt cheap, and advertise on the the boards and all that the company found a new technology or resource. This is called PUMPing the stock. they then DUMP the stock at a price far higher than they bought it for. Things return to normal, and the stock goes down.

    It is called "pump and dump", and IS illegal. If caught, you could be fined a lot, etc... But those that buy usually still lose.

    So you CAN make a fortune, but it is far more likely that you will quickly lose a LOT!

    http://en.wikipedia.org/wiki/Pump_and_dump

    Steve
    {{ DiscussionBoard.errors[9258520].message }}
  • Profile picture of the author HeySal
    I love penny stocks, but I sure wouldn't be buying on web suggestions. That's something to go to your broker and talk about...............if you do the right research on the company you can get some very promising stocks. The stock market is not set up for the majority to get rich from. Remember that the market is run by sharks. With enough study into it, you can beat the odds. I would never invest in a company with a very thorough examination of their prospectus, etc.
    Signature

    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

    {{ DiscussionBoard.errors[9259065].message }}
    • Profile picture of the author Lance K
      The fastest way to make a small fortune in penny stocks is to start with a big one.
      Signature
      "You can have everything in life you want if you will just help enough other people get what they want."
      ~ Zig Ziglar
      {{ DiscussionBoard.errors[9259071].message }}
  • Profile picture of the author HN
    Banned
    If you come to stock market hoping to make some quick money it's not going to work. Sure you can turn $10 into $100 or $50 to $250. But going from $1000 to million is a very unlikely event.

    But if you are a long term investor it doesn't matter what kind of stocks you trade. Just buy them at the all time lows and sell whenever you feel you've made enough profit.

    2 years ago I suggested to invest into First Solar at $14.32 and REC at NOK 2.94

    http://www.warriorforum.com/main-int...ml#post6257210

    A few weeks later First Solar started to rise and is now $62. It has more than quadrupled in 2 years. The other stock fell below NOK 1.00, but climbed to NOK 5.00 in March 2014.

    I also bought VESTAS WIND SYSTEMS (VWS.CO) last spring at 40 and it's now 300. I however never mentioned it in public forum to back up my claim.

    There are a lot of stocks sitting at all time lows right now, esp Australian and some Hong Kong.
    I did however screw up with an Australian stock once before, but I was spot on on the Kohl's stock (took 5 months to reach $52)

    http://www.warriorforum.com/main-int...ml#post7523537

    P.S. I don't usually invest in penny stocks though.
    {{ DiscussionBoard.errors[9259165].message }}

Trending Topics