Seems lke a couple of years ago I was reading about some seniors who were having a ball doing small trades- some even made a few dollars.
Anyone with a little info about this...like is it safe, still going on & how would a person get started ?
2006-06-16 07:41:14 · 6 answers · asked by aegis_handyservices 3 in Business & Finance ➔ Investing
I have heard of this. It is called "Trading between the Chalk marks". It is where you figure what the range of the typical high or low of the stock is (50 cents, 2 dollars, etc) Then buy at the typical low, and sell when it reaches what you see as the peak range with a Sell Limit order.. When it drops, you buy it again. This is usually done with large amounts ($5K plus) of money
This is risky, as a sudden drop can hurt.
2006-06-16 11:21:03 · answer #1 · answered by man_about_the_net 3 · 0⤊ 0⤋
To add to these previous truthful and accurate posts - Making money in penny stocks honestly is probably not possible. Almost all penny stocks (and the definition here I would use is not the $60 stock that falls to $4 but something like a stock that is under $1) are just scams for unsophisticated people. I am sure that I couldn't make money tradng penny stocks honestly and I know an absolute ton about trading and equity. Your chances are nil.
2016-05-19 21:23:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
As with any type of investing, Penny stock day trading comes with a measure of risk. I like to point out that these stocks tend to be volatile so your margin for profit is high, but the same applies to your potential for loss. Unless you already have a experience in trading stocks, or have some working knowledge of how it all works. I advise going to play the penny slots in Las Vegas... my wife made about $200 on them once.. lol.
2006-06-16 07:48:07 · answer #3 · answered by Sugarbear 3 · 0⤊ 0⤋
Great if you want to experiment and grow some investments without going broke...It's a good practice. Penny stocks also called Pinksheet stocks are easy find out about on the WEB. But before you ever do any investing always consult with a professional.....my personal pick on a Pennystock is ....ERUG.PK , look it up.
2006-06-16 09:10:09 · answer #4 · answered by crystal J 1 · 0⤊ 0⤋
Both the above have it right. High risk and easily manipulated. I don't touch them. too hard to find good research on and follow new. they can sometimes be less liquid and there for harder to get out of. There are plenty of great companies out there you can make money with, no reason to go digging through the trash.
In addition, with regards to day trading. The more frequently you trade you decrease your odds of success. Even with experienced traders doing a lot of trades is difficult.
2006-06-16 08:15:10 · answer #5 · answered by scorpio 2 · 0⤊ 0⤋
The problem with penny stocks are that they are so easily manipulated. Added to that, they so easily go out of business, compared to those listed on reputable exchanges. Therefore, your risk is immeasuable, and way out of line with reality.
If you want to have fun while losing your money, go to Vegas.
2006-06-16 07:46:06 · answer #6 · answered by dredude52 6 · 0⤊ 0⤋
1
2017-02-15 03:19:47 · answer #7 · answered by grier 3 · 0⤊ 0⤋