Like the title says how many play with pennies as a hobby? I’ve been playing more and more and has taken me a while to understand the game. Without a doubt no big board mentality there.
Whats some tickers you guys are playing?
CSOC, DIGAF, CFGX, and DSGT Currently
I'd like to but have no idea how to start. Any pointers?
I feel like I learn more and more daily. Most are scams, and you have to understand the game. Tons of toxic financing. My greatest plays are the ones that I find have low float and toxic financing in the near future. Load slow to not hit volume indicators or screw up indicators. Loading takes weeks to months and then the wait for the debt to become convertible. Typically, there will be some sort of pump on chat forums and twitter and the price will start to go crazy. Usually some pr’s that are typically all fluff but lots of forward looking statements on crazy revs or merger/partnership. Seems fintech and mj plays are great.
Low float looking for around 100m float and AS/OS that is sub bil/50% of AS.
it’s all manipulated so sometimes you win and sometimes you lose. Play the game right and you hit very big. Manage risk and don’t get to deep in shares. Just lost 28k in a month on one and I would have been stuck for a very very long time so I bailed. Hopefully that was a wise choice. We will see. Don’t risk more than you can lose because there is a chance you can lose it all in seconds or minutes. Typically swing trade momo pennies too but those are rarely more than a day or two hold.
I use to trade the crap out of penny stocks in college. It's actually how I made all my money during those times and since then I have moved on to options.
Originally Posted by bluejay10
Im using it it build big board money. Try to take a percentage of wins and move to big boards... I feel like it’s a good stepping stone
are you not paying a commission on trades ?
if so how do you make any profit?
6 dollar trades. Rolling 1k at a time isn’t usually an issue
Have to buy penny stocks in volume. If you purchase 100k shares you profit 10 for every .0001 uptick.
exatly. Any trip stock I playbhas to have enough liquidity that I can can buy and sell 2-5m shares pretty quick. Patience in the low floaters are usually good, but liquidity is minimal unless a good bit of speculation gets released. Learning to play the game is the hardest part.
gotcha , wasnt thinking that big - my bad
I have played witha few biotech stocks. I have a couple that i am holding long due to heavy insider buying. Others have been hit and miss. I watch the fast movers in early AM and hop on for the ride. OCX, KTOV and CODX were fun. TTNP was not.
No perfect system but it takes time to figure things out. I run on cash only so no PDT issues. Dont want to get stuck with a stock I dont wantto hold.
Best advice I heard was "Dont react to news, trade on the market's reaction to news'
I play a little with them, never made much , playing with a few pot stocks lately, ACB CRON APHA NBEV , they have been up latley , I use TD Ameritrade, im always looking for good trader stock , but they are hard to find , there are some good buys out there now, F GT AMD MU, good solid companies .
1996 Javelin 409T DC /225 Johnson Venom
I try. But everything y’all said above here is like a foreign language. I bought one the other day and went up pretty good. Didn’t pay attention and lost all profits by the end of the day. Watched another one that I hesitated to get into. Went up 200% in two days. Finally got in and I’m down now. Feel like an idiot. Need to learn more, but don’t even know where to look because everything is so foreign.
so, this is no shit, I started with 2k and opening an account. I’m an analytical person by nature’s so I learned charts. I’m not saying charts are magic but it’s somethjng I have confidence in. Combine charts with all other info to make an educated decision. I turned 2k into 40k that year. Last year I lost my ass, and this year is looking bright.
Okay back to the timeline. Then I got on here and we did a challenge on incestopedia. I learned with real capital I could make a lot of money, so I spent my days since then reading and learning and asking questions. It takes time to do it on your own. They have full college degrees in this shit. Probably the best advice I can give to reflect how I try to trade, play the people. Try to forecast how the market will react or is reacting. I turned some huge profits with paper money on that challenge by googling biggest gainers at 10:00. Researched why they moved in a few minutes, and if it was bullshit, I waited for the 30min macd to curl and shorted. Do not short real money u less you know wtf your doing. That was paper money. The take there, play the people.
I think you meant investopedia
Oh hell! Yes investopedia. Lmao. Sorry about that
Late to the party but I live in the penny stock world. You can easily get your butt burned, however, there are profits to be made. Plus, I love the volatility. My goal is a mere 2% a day average, but I am trading way, way above the PDT rule, so that 2% adds up. Most of the time there is no logic behind the movement on these sub $1.00 stocks, so I throw reason to the wind. If they are moving, for whatever reason, I will take a position. As they gain, I set sell orders. As soon as I buy, I start watching the movement. Once it clips my 2% goal, I set a sell order at that price...if gets above 5% I set a sell order there, at 10% I sell no matter what.
What we cannot obtain from intelligence, we can learn from experience.
There’s lots of different ways to trade them but in and out seems to be the best approach. I built some custom scanners and that’s how I find most of mine, although, I’m typically looking for a double and out 50% seems to be an easier target most of the time. For the most part trading sub penny
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