$200 to play the pennies
01-29-2008, 07:53 PM
#1
Finding my TL-S
Thread Starter
Join Date: Aug 2007
Location: San Antonio, TX
Age: 34
Posts: 524
Received 0 Likes
on
0 Posts
$200 to play the pennies
Today, my dad gave $200 to play with in penny stocks. Since im looking into a business major-preferably in dealing with stocks, he wants me to really learn if i will enjoy this field, before going too far into it and deciding that I wont see it as a long term job interest. He told me to play with some penny stocks. So, for the last week ive been looking into a few, ranging from .002-.45. i see the greatest chance of return on .002, because doubling the money seems the easiet, though, also the greatest chance of losing all of it. I was watching a stock today, which was valued at .001 at opening, and at closing it was at .002. As I see it, doubling the money seems to be quite easy if its the right stock. Just looking for some opinions. Ive heard i should atleast wait till the end of the week, as per the Fed's next meeting? thanks!
01-29-2008, 08:07 PM
#2
lol www.allstocks.com and www.hotstockmarkets.com start there
01-29-2008, 08:35 PM
#4
Team Owner
Penny stocks will teach you nothing about investing. It teaches you gambling.
01-29-2008, 08:50 PM
#5
Originally Posted by doopstr
Penny stocks will teach you nothing about investing. It teaches you gambling.
01-30-2008, 11:34 AM
#7
Senior Moderator
iTrader: (2)
Join Date: May 2000
Location: where the weather suits my clothes
Age: 55
Posts: 27,921
Received 1,080 Likes
on
661 Posts
Originally Posted by BackToStock
So, for the last week ive been looking into a few, ranging from .002-.45. i see the greatest chance of return on .002, because doubling the money seems the easiet, though, also the greatest chance of losing all of it. I was watching a stock today, which was valued at .001 at opening, and at closing it was at .002.
Originally Posted by BackToStock
As I see it, doubling the money seems to be quite easy if its the right stock.
Trending Topics
01-31-2008, 08:51 AM
#11
Three Wheelin'
Originally Posted by FiftyFive
Put ever penny of it in to ASUR.
Now i just wish stupid E-Trade would let me buy.
I still don't understand that "Limit" Price type, etc...
Now i just wish stupid E-Trade would let me buy.
I still don't understand that "Limit" Price type, etc...
I always use that option, to buy or sell.
01-31-2008, 09:11 AM
#12
Moderator Alumnus
Originally Posted by taz98spin
"Limit" option, means that you set a price that you are willing to buy or sell, and once it hits that they will execute your oder.
I always use that option, to buy or sell.
I always use that option, to buy or sell.
01-31-2008, 10:34 AM
#13
Penny stocks are a complete joke. That market is so manipulated it is not even funny.
That said, I did trade some penny stocks about 7-8 years ago or so. I had lost about $3k on a stock, so I took what I had left, and just started trading penny stocks. Did a few each week, and ended up making about $2k off of a few hundred. After that, I quit doing it... and I'm glad I did.
Right after I stopped a bunch of people in our office went penny stock crazy. A few people made some good money at first, but then it seemed that every company that had some buzz or made a few tenths or hundredths of a penny (which made them money) started going out of business or coming under SEC investigations. A lot of them lost the money they made, plus the money they invested (which wasn't much thankfully). One guy did lose several thousand b/c he bought up a ton thinking small movements could make him some good money... which it did until the stock tanked, then was frozen by the market.
Anyway, I agree with the masses... penny stocks is just as bad as gambling. Yes, there are trends and stuff you can watch to try to forecast what a stock may do... but the problem is that most of those trends/news stories/forecasts, etc are released either by someone within the company, or an investor, so they are usually bogus and the only people who make money is them.
Find another way to learn. Heck, find a free site that lets you trade with fake money and learn that way...
That said, I did trade some penny stocks about 7-8 years ago or so. I had lost about $3k on a stock, so I took what I had left, and just started trading penny stocks. Did a few each week, and ended up making about $2k off of a few hundred. After that, I quit doing it... and I'm glad I did.
Right after I stopped a bunch of people in our office went penny stock crazy. A few people made some good money at first, but then it seemed that every company that had some buzz or made a few tenths or hundredths of a penny (which made them money) started going out of business or coming under SEC investigations. A lot of them lost the money they made, plus the money they invested (which wasn't much thankfully). One guy did lose several thousand b/c he bought up a ton thinking small movements could make him some good money... which it did until the stock tanked, then was frozen by the market.
Anyway, I agree with the masses... penny stocks is just as bad as gambling. Yes, there are trends and stuff you can watch to try to forecast what a stock may do... but the problem is that most of those trends/news stories/forecasts, etc are released either by someone within the company, or an investor, so they are usually bogus and the only people who make money is them.
Find another way to learn. Heck, find a free site that lets you trade with fake money and learn that way...
01-31-2008, 10:57 AM
#14
Originally Posted by juniorbean
Find another way to learn. Heck, find a free site that lets you trade with fake money and learn that way...
Start with a fixed amount, say $10,000, and make imaginary purchases and sales. Write them down or use a spreadsheet. Follow the prices, add in the dividends and see how you do. Be sure to account for comissions and such if you want to get real accurate.
At the same time make an imaginary investment of the whole amount in a good no-load mutual fund or two and see how your portfolio compares at the end of the year.
Last edited by Zippee; 01-31-2008 at 11:00 AM. Reason: -
01-31-2008, 11:08 AM
#15
Boost Junky
Join Date: Oct 2006
Location: Smithtown Scion LI, NY
Age: 41
Posts: 446
Likes: 0
Received 0 Likes
on
0 Posts
yea....if you wanna play the stock market game check out marketocracy. com...its a free way to see how you would do in the market.
PS...I have a lot of friends in the business and keep an eye out for Steel Dynamics(STLD). Its a small company but over the past week its been fluctuating. Its down a point right now but by the end of the day Im sure it will end up north of $55 a share from the $51.23 a share its trading out now. Keep an eye on that stock for a week and watch the flux...id put 10K and let it ride for about a week and pull out conservatively
PS...I have a lot of friends in the business and keep an eye out for Steel Dynamics(STLD). Its a small company but over the past week its been fluctuating. Its down a point right now but by the end of the day Im sure it will end up north of $55 a share from the $51.23 a share its trading out now. Keep an eye on that stock for a week and watch the flux...id put 10K and let it ride for about a week and pull out conservatively
01-31-2008, 11:38 AM
#18
Originally Posted by Zippee
Don't even need a site.
Start with a fixed amount, say $10,000, and make imaginary purchases and sales. Write them down or use a spreadsheet. Follow the prices, add in the dividends and see how you do. Be sure to account for comissions and such if you want to get real accurate.
At the same time make an imaginary investment of the whole amount in a good no-load mutual fund or two and see how your portfolio compares at the end of the year.
Start with a fixed amount, say $10,000, and make imaginary purchases and sales. Write them down or use a spreadsheet. Follow the prices, add in the dividends and see how you do. Be sure to account for comissions and such if you want to get real accurate.
At the same time make an imaginary investment of the whole amount in a good no-load mutual fund or two and see how your portfolio compares at the end of the year.
That is an option as well...
Thread
Thread Starter
Forum
Replies
Last Post
AcuraKidd
Non-Automotive & Motorcycle Sales
0
09-25-2015 11:18 PM