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Penny Stocks? Good idea for $$$?

Discussion in 'Making Money' started by helloboy111, May 25, 2014.

  1. helloboy111

    helloboy111 Newbie

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    Hi

    I've got 2-3k to spare :rolleyes: so I took a look in stooks trading and after a while I found penny stocks. I want to enter it because you can make a lot of money and of course loose it all. I know it's very risky.

    Is somebody doing penny stocks successfully? I only found informations from a guy named timothy sy*** (not affliated). Does somebody know his learning materials? Is it good?

    Any ideas or hints are very apreciated!
     
  2. PinkhatSEO

    PinkhatSEO Newbie

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    Don't know the first thing about stocks but jordan belfort says penny shares are for suckerss.
     
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  3. Macthetrix

    Macthetrix Regular Member

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    You watched too much Wolf Of Wall Street
     
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  4. DaQuark

    DaQuark Junior Member

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    penny stocks aren't better than normal priced stocks, unless you're guru it all depends on luck! there are people out there that make money, hard work to get there
     
  5. helloboy111

    helloboy111 Newbie

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    Yes I know it's a long way to make some $$$
     
  6. SirSmash

    SirSmash Registered Member

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    If you got $2-3k to spare that you're willing to risk I'd probably try Forex before I try penny stocks; I've made money with Forex and lost with stocks. If you do go the penny stock route, don't try the ones priced like 10 cents, go for something you know isn't going to vanish tomorrow. Something like "MCZ" as MadCatz isn't going to randomly vanish but they're at 0.64. They went to a bit over $2 in 2011 but generally it's stable and increases a bit month over month.
     
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  7. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    I can see how some search engine stocks will be worth pennies soon ;)

    (Even some worth hundreds today, they're just screwing up too hard to succeed.)
     
  8. Techxan

    Techxan Elite Member

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    If I am going to gamble, I'll play blackjack.
     
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  9. PinkhatSEO

    PinkhatSEO Newbie

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    i am not going to dispute that fact haha.
     
  10. helloboy111

    helloboy111 Newbie

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    Nope didn't see the film yet but the dvd is coming this week :)

    So anybody got some more hints?
     
  11. LeanLow

    LeanLow Jr. VIP Jr. VIP

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    Invest long term, or better trade stock options or futures, not penny stocks...
     
  12. ltrading

    ltrading Newbie

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    Stay away from Timothy Sykes, he's a marketer (but if you're really interested I'm sure there was a torrent that had his full course, but it was a few years back that I saw it)

    Without inside info of the pump & dumps going on you're just gambling with penny stocks.

    Assuming you're not in the US, I'd say look at sports trading. Your 2-3k would make a decent little bank to start learning, and you can limit your risk & play with pennies while you learn the ropes.

    IMO sports trading is a good training ground to develop the psychological aspect of your trading before moving on to forex etc.
     
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  13. Numbuh362

    Numbuh362 Elite Member

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    with $3,000 buy crypto currency, buy doge, or another coin that's going up. You can easily make $500 in a day by investing in a good coin.
     
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  14. TZ2011

    TZ2011 Senior Member

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    Penny stocks are for people who like gambling, if you don't do your due diligence about where to invest and how to invest and you get sucked in into pump & dump, you can lose your 2-3k over a night or week, at the best.

    Also stay away from those selfproclaimed guru's, instead go to stockhouse.com, seekingalpha.com, stockboard.com, investopedia.com and similar places with a lot of smart people and learn from basics, read opinions of long-time investors and columnists, check the sites that they are mentioning for due diligence, etc. There is so much stuff to learn, and do not trust nobody. If somebody is hyping some stocks, ask yourself is it really so good or he have 10k shares of same stock, trying to pump it and suck you into investing before he sell it.
     
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  15. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP Premium Member

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    Lol don't be a dumbass with your money. As said above: go to the casino, you'd have a better chance and it's more fun.
     
  16. Panther28

    Panther28 Elite Member

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    I would say that allocating a percentage of your net profits(10-15%) wouldn't hurt. The difficulty i have found is actuallly finding somewhere i can invest without a large percentage of upfront fees.

    Currently i invest into a range of top FTSE100 companies, that pay regular dividends, though a share scheme that means you only pay a couple of dollars in fees, would be great to hear from someone who could recommend a place to buy russian stocks at the moment.
     
  17. zebrahat

    zebrahat Elite Member

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    I'd park the 2,000+ in BTC and hold at least 4 years. It should be worth 20k or more by then, based on the Bitcoin growth from 2010 to now. That said, I did made money with penny stocks years ago, by concentrating on initial public offerings, or blind situations where the opening price was a penny or less per share. You can plunk $1000 in those cases on an offering that is basically undervalued. It's hard for a new stock to go down in the very first month--instead it usually spikes, during which time you call up the broker, sell the amount needed to recover your investment, then go on a 'free ride' on the stocks that remain. Rinse and repeat.
     
    Last edited: May 26, 2014
  18. Nicheblogger

    Nicheblogger Regular Member

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    I have consistently made a lot of money with penny stocks for years. Monitor stocks, message boards, and volume spikes closely and get in and out quickly. If a .0001 stock I monitor suddenly get mega volume spike, I will buy like hell. 1 tick upwards = 100% profit. I have cleared 2000% profits in the matter of an hour. It's usually The greedy people who are always waiting for a little more profit lose it all. Take profits fast and only let free shares ride long term(shares left over after you recoup your original investment). When I traded full time I was making a lot more than I do in IM, but the stress level was through the roof!

    I almost forgot to mention the #1 rule of most penny stocks, they are almost all scams. If you start becoming attached and say to yourself "I am going to hold this one long term and I will be rich by next year" you will lose all of your money 99% of the time. Treat every stock as though they are fake scams and do not get attached. Penny stocks should be treated like hookers, they are fun as hell for a night, but you do not marry them.
     
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    Last edited: May 26, 2014
  19. helloboy111

    helloboy111 Newbie

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    Hey thanks for the good informations. I would like to begin with trading because i can do it beside IM. Very good informations thank you very much! Now i know where to start learning
     
  20. helloboy111

    helloboy111 Newbie

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    Do you know some good leraning material about crypto currencies?