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So Where Do I Start?

katharina

Registered Member
Maybe it's time to do what I've wanted to do for a long time and get into some penny stocks. I'm prepared to buy enough to make it worthwhile... but here's my question. How do I know what's real advice and which ones (like often come in spam mail) are just people who own it trying to run the price up by saying it's hot? It's kind of confusing to know the motive when someone throws out advice, no?
 

Mirage

Secret Agent
Staff member
V.I.P.
I paid $200 for a membership that I found very helpful. The main thing I looked for was somebody who did not invest in the stocks they promoted.

I didn't stay in these stocks long enough to make it worth my while though. I'm not sure I would recommend paying for a program if you can motivate yourself to do the research on your own. :)

Do you follow any penny stocks currently? What types of markets are you looking to get into? Anything specific or just anything with the potential to grow?

I tried to stick with things that I at least knew something about so I could justify buying into their stock. Otherwise it's just the same as gambling if you are just buying stocks and hoping they do well. :)
 

katharina

Registered Member
Do you follow any penny stocks currently? What types of markets are you looking to get into? Anything specific or just anything with the potential to grow?
I tried to stick with things that I at least knew something about so I could justify buying into their stock. Otherwise it's just the same as gambling if you are just buying stocks and hoping they do well. :)
We're not following any now, no. We've talked about it for a long time but never found the motivation. The type of market that we'd know most about and would benefit us most is pharmaceutical. I don't really like gambling blindly, so I agree that research and some prior knowledge is a good thing.
 

wondering

New Member
I'm glad that you used the word gambling, because a lot of people forget that day trading really is. You have to do all your research but when it comes down to it, everything you've prepared could turn out to be hearsay or whatever and in the end, it is just well researched luck.
 

Penguin

Registered Member
What are "penny stocks" (as opposed to... any other stocks?) I'm not familiar with the term... but if they're much less - don't you still have to pay ridiculous fees to a broker?
 

taiarain

Registered Member
Penny stocks are generally high risk, low value stocks, traded off the traditional markets. You can usually buys tons of shares for a few bucks and make a decent amount if the price moves by even a dime up. Of course, a dime down and it's over for you.

Wikipedia probably does a better job explaining it than I do:

Penny stock - Wikipedia, the free encyclopedia
 
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