Have you had a lot of success with penny stocks? Any horror or victory stories?

That is a GREAT catch for you, but ashame for your buddy. That is the thing, you never know if say there is a lot of dilution going on, and that the "CEOs"/ MMs are just selling off an absurd amount of their stock at a high and making it run, while knowing it is going to fall. I always try and think, for every sell, there is a buy, and every buy, there is a sell.

Haha best of both worlds I guess. I have had a few nice catches, last year I lucked out tremendously getting into a stock at a dip that shot up more than triple in a day. But on the other side of the spectrum, when I take a glance at all the RED in my portfolio, it seems that that any big gains are smothered by any overall negatives.

Here and there, especially on Fridays, I like to take any minor gains that I can. So $150-$300 here and there adds up over time. Like most, I will just reinvest, but it honestly is a hard thing playing without emotion and the thought that you are going to strike it big. (we all hope) :happydance:

Yesterday I was up 100% within one of my pinkeys w/ news which was very uncharacteristic. I decided to keep the shares in it and see where it goes. Maybe today ill sell some off in hopes to get back in at a low on Monday. :stirthepot:

Make use of those stop-limit orders! If you're stock is making some money, I always find it helpful to put one on or use a trailing stop to protect my profits. As the stock moves up, keep adjusting that stop order upward to lock in more.

I can't wait to have some extra cash to get back in the market.

The mans got it! That is key. Such a great way to keep one from being too greedy. I have been really trying to increase my skills in reading actual charts, candles etc, but damn there is a ton to know. I have been watching MACD and such and seeing how it appears to be moving within a stock, but overall L2 is kind of still foreign to me.

Need extra cash to invest?! Sell your body, its foolproof and no I don't mean organs :eekdance:

Seriously, its a great way to keep on the edge of your seat, nothing better than seeing your hard earned money fluctuate.

News just in, I think I may take a stab at FOREX with one of my buddies who is interested in investing. He has been using one of the training programs with real time numbers and has been doing pretty well. I have NO clue as to how, what is needed etc. All I know is if I link it to Etrade its a 2k minimum to open an acct. Anyone here dabble? I know I have read that some of you have? Is it a smart time to try it?

No giving financial advice or anything but...

This is a gem and lot of room to still get in if things keep moving as expected.

SOLANBRIDGE GROUP INC COM SLNX: OTC Pink

Also DIIG

Check em out +0.047 (+1,566.67%) for the day not bad :P

I still don't have any cash to play with :( Hopefully will before year's end

I hear you! That will give you plenty of time to do some solid DD into the upcoming year. :tup:

The best advice I ever got was "If it don't go up. Don't buy it."

As tough to argue, as it is to make it work.

Thats how its gotta be for sure. One of the things I have been doing is really trying to "understand" the market, trends, and especially how to read the graphs.

Could anyone tell me where to start with all this investing stuff? I know a little and I plan on putting $5000 into a roth ira account in the next couple months, but I would like to know how to actually get into buying stocks. I know you need to research it but what are some good sources. I was thinking of just taking a few investment type classes in school or over this coming summer.

On another note I've always wondered if you could buy a ton of penny stocks and when they go up a few cents just sell them? Like for instance say a penny stock is 2 cents and you buy $50 dollars worth which = 2500 shares and then it goes up to 10 cents the next day could you just sell it for $250 making $200? Something just makes me feel like that is just way to easy.

Read 'How to Make Money in Stocks' by William Oneill and 'Reminiscences of a Stock Operator' by Edwin Lefevre. Sign up on Stocktwits. Read about Fundamental Analysis and Technical/Chart Analysis. Use Finviz.com stockcharts.com freestockcharts.com Sign up for a brokerage account through scottrade, fidelity, charleschwabb, etrade. Don't get greedy. Penny stocks is more like gambling.

Man I'm subbing to this, awesome info please keep it coming

Hey everyone :hello:
I'm probably the youngest one on this thread (I'm 20)
I tend to avoid the age question as I've noticed people tend to ignore me once they realize in half their age and of course assume the worst.. then they see my car and say "did your parents buy that for you too" i work my butt of for my things :shakes head: oh well

anyways, great thread! lots of good info. Ive been interested in the market for a while now, and although i may not have much money, or resources to play with, i try my best :) or at least, I try to try lol. I've had KOF for a while now and it just keeps growing. so if anyone has any advice for me, shoot away, I'm all ears :tiphat:

Yeah, there's defintely a catch to doing what you describe. First, you say "when" they go up. There's a reason they're penny stocks. If they were worth more than that they would cost more (not always, but usually). Also, in the example where you just made $200 bucks in a day, you left out taxes (disregard if you're doing this in your IRA). Then you've got to consider the transaction costs. Depending on where your account is, you may have to pay between $7-50 bucks for the buy and again on the sell. Plus, your 2500 shares is a large (ish) quantity, so you may pay a surcharge on top of the normal comission.