Scottrade and Sub-penny Stocks

[347Mike]

I am glad everyone finds it so humorous. If there is money to be made, you go about it in a responsible way, and everyones goal is to make money, what is the problem? The stock I listed is obviously bouncing with consistency so why not risk a few hundred dollars and possibly make double or triple your money? I never said I wanted to get rich and retire on penny stocks, just a small risk with potentially high rewards. I think my question was legit.

[Broncojohnny]

1. Buy penny stock.
2. Make it rain.

This man gets it.

Penny stocks are fun, I love the hype that you get to read about.

[347Mike]

1. Buy penny stock.
2. Make it rain.

Pretty much!

[slow99]

1. Buy penny stock.
2. Make it rain.

[2165 Turbo Rail]

thanks man.. I am stocking up right now so that I can make bigger moves so I might tap into this thread again later on for a few pointers if you don't mind...

if you do just tell me to suck it and leave ya alone lol

[347Mike]

oh yea then you are investing a lot more money then I am...

what would you consider a "good" amount to do like you are?

1k? 5? 10? at a time?

I am nobody in this. I just do what I know works for me and go with that. It all depends on what you are comfortable with. I sure as hell wouldn't invest more than a few hundred bucks in a sub penny stock though. If you were to invest more I would definitely go with a larger company. Penny stocks can be up in an hour and be history the next.

[2165 Turbo Rail]

My technique is very simple. I look at moving averages, volume, MACD, STO, RSI and stock price. If they look good I will buy. I the longest I have been in a stock is a week. I only look for a couple percent increase, which to me is a few hundred bucks. I am happy with that and move to the next.

oh yea then you are investing a lot more money then I am...

what would you consider a "good" amount to do like you are?

1k? 5? 10? at a time?

[Forever_frost]

I tend to just pick things at random. So far, I've made 65% profit but I work with small time stuff, no more than 50 bucks a month.

[347Mike]

honestly I don't remember where I found out about CEYY... prob a site some where while I was looking at IBGH which is the company that has the drink called "Drank" the "relaxation" drink opposite of Monster.

do you hold on to your stocks long or do you buy and sell pretty quick?

I figured I would get into some of these cheap and then let it go up a little and sell...

nothing that will make me rich but something to take 100-200 and double it every so often or something... like I did with IBGH...

My technique is very simple. I look at moving averages, volume, MACD, STO, RSI and stock price. If they look good I will buy. I the longest I have been in a stock is a week. I only look for a couple percent increase, which to me is a few hundred bucks. I am happy with that and move to the next.

[2165 Turbo Rail]

honestly I don't remember where I found out about CEYY... prob a site some where while I was looking at IBGH which is the company that has the drink called "Drank" the "relaxation" drink opposite of Monster.

do you hold on to your stocks long or do you buy and sell pretty quick?

I figured I would get into some of these cheap and then let it go up a little and sell...

nothing that will make me rich but something to take 100-200 and double it every so often or something... like I did with IBGH...

[347Mike]

Anyone who is just starting out should realize the difference between educated investing and speculation, which is just a fancy word for gambling. It is ok to speculate when it is small amounts that are less than 1-2% of your holdings. But you should plan on losing every dime you use in that pursuit because very often you will. Using anything more than chump change is foolish unless you have a well defined system in use for years. Even then you'll probably make some really shitty trades.

It takes money to make money. I am sure the subset of users you are referring to didn't come up with their efficient process over night.. lol

[Broncojohnny]

Anyone who is just starting out should realize the difference between educated investing and speculation, which is just a fancy word for gambling. It is ok to speculate when it is small amounts that are less than 1-2% of your holdings. But you should plan on losing every dime you use in that pursuit because very often you will. Using anything more than chump change is foolish unless you have a well defined system in use for years. Even then you'll probably make some really shitty trades.

[347Mike]

Coulda, shoulda, woulda. If you are just starting out, I would start with companies that aren't as volatile as penny stocks ie a large or house hold name. The penny stocks can make or break you and for beginners it does more breaking than anything. My first few trades ever were penny stocks and lost all my money.

I was in the same boat a couple years ago and only investing 4-500 bucks and really with that much it is hard to make anything worth talking about. I saved up to a point where I was comfortable with a lot more money. I did more research, picked a strategy I found to work and went with it.

CEYY just came onto the market, where did you hear about his from and what is your strategy for investing? Just by looking at the STO and RSI I could have told you that it was going to drop. lol

[2165 Turbo Rail]

all of the ones I have started out around .02 - .05 range... I figure this way I can buy a lot and if it moves up, cool... if not. it wasn't much money but a good learning exp.

[2165 Turbo Rail]

no its CEYY.... I just looked and its at .31 right now.. ouch.. but like I said its only 66 shares and it was more of a shot in the dark

it looks like they are making some good moves and has potential so we'll see.

but, again, I'm a COMPELTE Newbie at this stuff so I'm not doing all the fancy stuff a lot of you guys are... i'm just looking around and reading up on the news posted about a few differen't stocks

one of which is LEXO... I thought about buying some at $7 and I didn't then it went to $11 yesterday and I was pissed... well today it is down to 4.63 so I feel like I won in this situation haha