Thread: Penny stocks

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  1. #1
    Member
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    Jan 2014
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    New martinsville, wv
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    Penny stocks

    Someone school me on how to get into penny stocks. Is there a app used for trading? How much $$ do I need to start investing? Thanks

  2. Banned
    Join Date
    Jul 2005
    Location
    Siler City NC
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    3,813
    #2
    I don't know much but I use the stock app on my I-phone and I also use a website ADVFM.com to find info. You can setup an account thru E-trade. I have about 5k that I have been playing with and sometimes its is up good then I end up riding it back down to nothing. You can buy of bunch of penny stocks for $500 so you really don't need a lot to get started. Just remember to only invest what you are willing to lose.

  3. Member
    Join Date
    Jun 2004
    Location
    Bentonia, MS 39040
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    3,354
    #3
    Many penny stock information sites out there. I played with them a bit, made some lost some, very risky if not investigated carefully. Medical weed, battery tech, oil pretty good also
    Ron Fears
    Stroker/300XS
    1E003823

  4. Moderator 200xp's Avatar
    Join Date
    Jun 2004
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    Buckeye State
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    8,190
    #4
    First, penny stocks are a dangerous world in which to live. I paper traded penny stocks for a little over two years before I commenced with the real dollars. Plus, I read every article and book I could find during that two years. Do understand they move up and down for no apparent reason. The majority of these stocks have no analyst coverage and SEC filings and earning reports have no relevance. Only exceptions are very inmature biotech stocks that may be heading into or are in a phase 1 trial. A lot of the moves are parabolic to the upside and downside. That move can last minutes before it reverses direction. I never, ever hold such stocks over night. For me, holding one for an hour is a long time. Chat rooms and the companies themselves can pump them and off they go, twitter comes in handy in this scenario. These stocks are NOT long term investments or part of a diversified portfolio. They are meant to be traded and that is why they are extremely volatile. IF you do decide to take the plunge you need to educate yourself on stop loss orders so you do not get burned to bad if it plunges. FYI, I use TD Ameritrade..but there are pleny of other platforms to choose from...just google penny stocks or go to the amazon bookstore and you will find plenty to read, both good and bad advice included.
    What we cannot obtain from intelligence, we can learn from experience.