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Old 06-03-2015, 02:58 PM   #1
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Default Penny Stocks

anybody dabble in this? I had a foolproof method several years back... wait til my boss bought one, then a week later, I'd buy it after it dropped 20%. Would go back up to where he bought a week later and I'd get out with a cool 20% gain in a week or two. Turned $500 into $1500 this way..... then got greedy and didn't watch long enough and turned my $1500 back to $500....

time to start playing again in these. Anybody got any that vary by 1/3 or so within a month's time? (remember, I'm talking true penny stocks, so to vary by 1/3 might only be a 30 cent variation....)
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Old 09-09-2015, 08:10 PM   #2
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Default Re: Penny Stocks

I've bought two stocks and turned 100 into 250. I like buying around 10 cents but I can't find a good site that lists themy by price. I'm also using the robinhood app which is commission free.
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Old 09-10-2015, 08:58 PM   #3
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Default Re: Penny Stocks

NM

Last edited by uscjeremynca; 09-11-2015 at 03:18 AM..
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Old 09-11-2015, 03:17 AM   #4
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Default Re: Penny Stocks

Did a lot of research tonight and bought a few stocks, LOTS of shares (over 1300) for $1650. I've done a LOT of research on the companies I invested and I feel good about my choices. We will see how they turn out. Here are my stocks and the limit price I set to purchase (all within 2 cents of the current market price, except for one which is 5 cents). I expect all of these to execute tomorrow morning.

Stock purchased, Limit/Purchase Price:
(RXII) RXi Pharmaceuticals Corporation, $0.42
(HBIO) Harvard Bioscience Inc, $4.45
(IPDN) Professional Diversity Network, $0.87
(LSCC) Lattice Semiconductor Corporation, $4.18
(PFIE) Profire Energy Inc, $1.03

I did my homework on these. Crossing my fingers.
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Old 09-11-2015, 07:47 AM   #5
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Default Re: Penny Stocks

Quote:
Originally Posted by uscjeremynca View Post
Did a lot of research tonight and bought a few stocks, LOTS of shares (over 1300) for $1650. I've done a LOT of research on the companies I invested and I feel good about my choices. We will see how they turn out. Here are my stocks and the limit price I set to purchase (all within 2 cents of the current market price, except for one which is 5 cents). I expect all of these to execute tomorrow morning.

Stock purchased, Limit/Purchase Price:
(RXII) RXi Pharmaceuticals Corporation, $0.42
(HBIO) Harvard Bioscience Inc, $4.45
(IPDN) Professional Diversity Network, $0.87
(LSCC) Lattice Semiconductor Corporation, $4.18
(PFIE) Profire Energy Inc, $1.03

I did my homework on these. Crossing my fingers.

I'm sort of interested in this, but don't know how to start.

What does "limit" mean?


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Old 09-11-2015, 08:15 AM   #6
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Default Re: Penny Stocks

Someone is about to go wolf of wall street on us
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Old 09-11-2015, 11:06 AM   #7
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Default Re: Penny Stocks

Quote:
Originally Posted by ScottK View Post
I'm sort of interested in this, but don't know how to start.

What does "limit" mean?


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Limit is the max or min price that you will buy or sell. As soon as that price is reached, your buy or sell will be executed at that price. It's setting the limit at which you will buy or sell as opposed to getting the market price at the time you place your order. For limits, you can set it for a day or out for an extended period. If that limit price is reached at any time over that period, your trade will be executed.

A limit is different than a stop. A stop says that when you reach a certain price, execute that trade at the market price. Let's illustrate.

Stock is currently $15. You set a limit of $14 for 100 shares. If the stock drops to $14, your trade will execute for your 100 shares costing your $1400. On the other side, let's say you place a stop of $14. Whenever that stop is reached, the trade will execute at the market price (not necessarily right at $14).

Using a limit is a good way to set your own price for when you want to buy something or sell something at a set price to guarantee a profit or minimize a loss.

In my trades for the 5 stocks above, three of my limits were reached this morning as the market went down early so I bought at the price I wanted. For two other stocks, one was partially filled at the price I wanted. The rest of my order remains open until my limit is reached again. On the other one, I increased my limit as I didn't want to miss out on the opportunity so it was also executed this morning. At my original limit, it still would have been out there waiting to be filled.
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Old 09-11-2015, 11:14 AM   #8
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Default Re: Penny Stocks

Quote:
Originally Posted by uscjeremynca View Post
Limit is the max or min price that you will buy or sell. As soon as that price is reached, your buy or sell will be executed at that price. It's setting the limit at which you will buy or sell as opposed to getting the market price at the time you place your order. For limits, you can set it for a day or out for an extended period. If that limit price is reached at any time over that period, your trade will be executed.



A limit is different than a stop. A stop says that when you reach a certain price, execute that trade at the market price. Let's illustrate.



Stock is currently $15. You set a limit of $14 for 100 shares. If the stock drops to $14, your trade will execute for your 100 shares costing your $1400. On the other side, let's say you place a stop of $14. Whenever that stop is reached, the trade will execute at the market price (not necessarily right at $14).



Using a limit is a good way to set your own price for when you want to buy something or sell something at a set price to guarantee a profit or minimize a loss.



In my trades for the 5 stocks above, three of my limits were reached this morning as the market went down early so I bought at the price I wanted. For two other stocks, one was partially filled at the price I wanted. The rest of my order remains open until my limit is reached again. On the other one, I increased my limit as I didn't want to miss out on the opportunity so it was also executed this morning. At my original limit, it still would have been out there waiting to be filled.

That sort of makes sense lol.

I'm guessing that for a beginner it would just be easier to make trades manually instead of using limits/stops?


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Old 09-11-2015, 11:24 AM   #9
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Default Re: Penny Stocks

Quote:
Originally Posted by uscjeremynca View Post
Did a lot of research tonight and bought a few stocks, LOTS of shares (over 1300) for $1650. I've done a LOT of research on the companies I invested and I feel good about my choices. We will see how they turn out. Here are my stocks and the limit price I set to purchase (all within 2 cents of the current market price, except for one which is 5 cents). I expect all of these to execute tomorrow morning.

Stock purchased, Limit/Purchase Price:
(RXII) RXi Pharmaceuticals Corporation, $0.42
(HBIO) Harvard Bioscience Inc, $4.45
(IPDN) Professional Diversity Network, $0.87
(LSCC) Lattice Semiconductor Corporation, $4.18
(PFIE) Profire Energy Inc, $1.03

I did my homework on these. Crossing my fingers.
I am a proud Charles Schwab brokerage customer but it costs like 8.95 in commission per trade. Thus it makes no sense to me to buy penny stocks because I am paying as much in commission as I am for like 10-15 shares sometimes for some of these. and then in turn its the same thing when I sell.

thus I stick with blue chips or mutual funds. I understand when you put in an order like the above - you are likely buying all 1300 stocks at once so paying something $8.95 in commission is like no big deal when you are throwing down $1600 total.

But I feel like just dipping my toes in the penny stock water once in awhile, there are a few companies I know a little bit about and I wanna throw a little at it and see what happens. Is there a way to trade these pink sheeters online without screwing myself over with commission fees? thanks :)
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Old 09-11-2015, 11:50 AM   #10
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Default Re: Penny Stocks

Rather than penny stocks look at options on real stocks. With call options you risk a very small amount compared to the price of the underlying stock and you are able to capture much higher percentage gains since the price of the option is based on the price of the underlying stock. There are many sites to learn about options, here's one

http://www.investopedia.com/university/options/
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Old 09-11-2015, 12:30 PM   #11
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Default Re: Penny Stocks

Quote:
Originally Posted by Gamerooster View Post
Rather than penny stocks look at options on real stocks. With call options you risk a very small amount compared to the price of the underlying stock and you are able to capture much higher percentage gains since the price of the option is based on the price of the underlying stock. There are many sites to learn about options, here's one

http://www.investopedia.com/university/options/
but options aren't available to everyone right? like don't you have to be offered the exclusive opportunity to buy options from the company or from large shareholders?

like options wouldn't be available to someone like me who doesn't know anyone. or am I wrong? thanks
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Old 09-11-2015, 01:01 PM   #12
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Default Re: Penny Stocks

Quote:
Originally Posted by ScottK View Post
That sort of makes sense lol.

I'm guessing that for a beginner it would just be easier to make trades manually instead of using limits/stops?


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Some of these penny stocks, purchasing at market isn't an option. You have to specify a limit. Some of the stocks are high enough in value and revenues that you can purchase on market. It really depends on the stock.

Limits and stops can be very good for penny stocks because they state that you only want to get in at a certain price and want to get out at a certain price. These can be used to protect gains and hedge losses. However, some brokers may charge more for limits/stops so it really depends on who you use.
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Old 09-11-2015, 01:06 PM   #13
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Default Re: Penny Stocks

Quote:
Originally Posted by TastyLicks View Post
I am a proud Charles Schwab brokerage customer but it costs like 8.95 in commission per trade. Thus it makes no sense to me to buy penny stocks because I am paying as much in commission as I am for like 10-15 shares sometimes for some of these. and then in turn its the same thing when I sell.

thus I stick with blue chips or mutual funds. I understand when you put in an order like the above - you are likely buying all 1300 stocks at once so paying something $8.95 in commission is like no big deal when you are throwing down $1600 total.

But I feel like just dipping my toes in the penny stock water once in awhile, there are a few companies I know a little bit about and I wanna throw a little at it and see what happens. Is there a way to trade these pink sheeters online without screwing myself over with commission fees? thanks :)
Same for me. That's why if I make a purchase like this with my broker, I make sure that the amount I buy is with worth the commission I pay. It's also a very high incentive to make sure I do my research on the companies I buy.

However, see dumpyloser's post above. Use the robinhood app. I just downloaded it and am waiting for my funds to transfer. You can purchase stocks with no commission at all. That may be the route to go if you have some money you want to play with. I am going that route as well. Allows me to take a little more risk since there is no commission or even make the same buys in my USAA account.
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Old 09-11-2015, 04:48 PM   #14
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Default Re: Penny Stocks

UPDATE: After Day 1 of my investment in penny stocks, I am up 0.81%. DOW was up 0.63% and S&P 500 was up 0.45%.

I beat the market! Time to take my cash and go home!
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Old 09-14-2015, 09:48 AM   #15
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Default Re: Penny Stocks

Quote:
Originally Posted by uscjeremynca View Post
UPDATE: After Day 1 of my investment in penny stocks, I am up 0.81%. DOW was up 0.63% and S&P 500 was up 0.45%.

I beat the market! Time to take my cash and go home!
nice little one day return! haha. My method was usually to follow the stock for a few days and watch its bounces. Most of those penny stocks will bounce about the same along a trend line over a few week span. You can mostly learn the lows and highs they'll hit and then time to buy at the lows if the highs are high enough to bother with.

I use Scottrade, so, yes, $7 a trade, so gotta have at least a few hundred dollars or so to be "playing" with to make it worthwhile. BUT, if you can turn $150 into $250 over a 3 week period, that $14 doesn't seem so bad.
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Old 09-15-2015, 09:57 AM   #16
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Default Re: Penny Stocks

Quote:
Originally Posted by TastyLicks View Post
I am a proud Charles Schwab brokerage customer but it costs like 8.95 in commission per trade. Thus it makes no sense to me to buy penny stocks because I am paying as much in commission as I am for like 10-15 shares sometimes for some of these. and then in turn its the same thing when I sell.

thus I stick with blue chips or mutual funds. I understand when you put in an order like the above - you are likely buying all 1300 stocks at once so paying something $8.95 in commission is like no big deal when you are throwing down $1600 total.

But I feel like just dipping my toes in the penny stock water once in awhile, there are a few companies I know a little bit about and I wanna throw a little at it and see what happens. Is there a way to trade these pink sheeters online without screwing myself over with commission fees? thanks :)

There is a mobile app called robinhood. You can trade stocks (penny or otherwise) for no commission. I put $100 in about 3 weeks ago just to play around and quickly that shot up to $250. It is now right at $200, but that is still a 100% profit.

You may want to research robinhood and find out if it is right for you. I haven't actually withdrawn any of my money yet, but I have bought and sold a few times. The only downfall I see is that it takes a few days to get set up and then takes a few days to make deposits and also when you sell it takes a few days before you can reinvest the money.
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Old 09-15-2015, 10:08 AM   #17
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Default Re: Penny Stocks

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Originally Posted by dumpyloser View Post
There is a mobile app called robinhood. You can trade stocks (penny or otherwise) for no commission. I put $100 in about 3 weeks ago just to play around and quickly that shot up to $250. It is now right at $200, but that is still a 100% profit.

You may want to research robinhood and find out if it is right for you. I haven't actually withdrawn any of my money yet, but I have bought and sold a few times. The only downfall I see is that it takes a few days to get set up and then takes a few days to make deposits and also when you sell it takes a few days before you can reinvest the money.
thanks!
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Old 09-15-2015, 10:10 AM   #18
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Default Re: Penny Stocks

Penny stocks might be fun to play with, but are a terrible investment strategy. I wouldn't invest more than you can stand to lose.
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Old 09-15-2015, 01:12 PM   #19
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Default Re: Penny Stocks

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Originally Posted by dumpyloser View Post
There is a mobile app called robinhood. You can trade stocks (penny or otherwise) for no commission. I put $100 in about 3 weeks ago just to play around and quickly that shot up to $250. It is now right at $200, but that is still a 100% profit.

You may want to research robinhood and find out if it is right for you. I haven't actually withdrawn any of my money yet, but I have bought and sold a few times. The only downfall I see is that it takes a few days to get set up and then takes a few days to make deposits and also when you sell it takes a few days before you can reinvest the money.
I've been using Robinhood all week. I like it and it is easy to use. I'm still learning the investment side and am soaking it all in. Looking to make good investment decisions.

Yes, I've realized the downfall now of selling and having to wait a few days for the money to clear. I realized this on deposits but just learning about it now that I am selling. I'm learning the patterns now so I can make some good decisions (I hope).
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Old 09-15-2015, 11:05 PM   #20
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Default Re: Penny Stocks

Quote:
Originally Posted by TastyLicks View Post
I am a proud Charles Schwab brokerage customer but it costs like 8.95 in commission per trade. Thus it makes no sense to me to buy penny stocks because I am paying as much in commission as I am for like 10-15 shares sometimes for some of these. and then in turn its the same thing when I sell.

thus I stick with blue chips or mutual funds. I understand when you put in an order like the above - you are likely buying all 1300 stocks at once so paying something $8.95 in commission is like no big deal when you are throwing down $1600 total.

But I feel like just dipping my toes in the penny stock water once in awhile, there are a few companies I know a little bit about and I wanna throw a little at it and see what happens. Is there a way to trade these pink sheeters online without screwing myself over with commission fees? thanks :)
not if you buy 10,000 shares at a time......be careful though, a lot of these really small companies don't trade enough shares for there to be enough buyers and sellers, especially if there's a bad day in the market, you can't sell at any price.
In other words, they are much too thinly traded. Most major brokerage companies make a market in all listed securites......but if you go on the OTC/pink sheets, good luck.
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