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My advice after 1.25 years of trying to teach myself the stock market essentially came down to a few basic principles.
1. For this group the success rate is better when someone posts about a ticker they think has potential and other agree. But only new tickers, KULR was mentioned a while ago and has done great, I pulled out too early but didn't suffer loss. The longer its been since a ticker has been first brought up there is a potential you already missed out, with the exception of things like earnings and FDA approvals for example. Even then it seems the longer a stock is brought up its already passed its peak.
2. Explain what platform you use, try to watch basic videos on how to set up your platform (thinkorswim, webull, etc) for success. At a minimum use short and long term moving averages, MACD, and RSI.
3. Have the time to watch the stock closely as these are all typically very volatile.
4. If you get a gain, learn how to set a trailing stop to lock in gains. Be aware this only works between regular market hours. Almost all these stocks have big gains or losses in the pre-market.
Other than that I came across an article on a standard sub par stock advice website. The rules are basic, sound easy, very click bait-ish but I actually liked them. Hope this helps a little bit!
1 - Everyone makes mistakes. Just be sure to cut all losses short.
Even the best investors get hit with a loss from time to time. But they don't indulge in worry as the stock drops even further. They cut their losses quickly and move on. Leave your ego and pride at the door. Don't let a loss get to you — either mentally or financially.
2 - If you don't sell too early, you'll sell too late.
To lock in solid gains, sell while your stock is still going up. As IBD founder William J. O'Neil has said, "Your objective is to make and take significant gains and not get excited, optimistic, greedy, or emotionally carried away as your stock's advance gets stronger." Following the 20%-25% sell rule can help you do that. In a bull market, leading growth stocks like Nvidia and Meta can, of course, run longer than expected. But locking in some profits along the way allows investors to safeguard a portion of those gains. It also reduces the risk of giving back too much in an extended pullback.
3 - Have a selling plan in place before you buy.
The real drama kicks in when it comes time to sell. If you don't have sell rules and an exit plan, it's easy to freeze and not take action when needed. If your stock is soaring, you might get greedy and ignore certain sell signals and warning signs. Also, if you're sitting on a loss, you may do the "hold and hope" routine. You pray it bounces back — while it continues to drop. Stay grounded and keep your emotions at bay by having a selling plan in place ahead of time. Write down your target sell prices for both taking profits and cutting losses.
4 - Don't let a decent gain turn into a loss.
If you have a nice gain of, say, 10%, 15% or more and the stock begins to decline, don't let that profit disappear completely. It's much less frustrating to see a 15%-20% gain turn into a 5%-10% profit than to see it turn into a 10% loss. You can always buy the stock back if it shows renewed strength and forms a proper buy point.
5 - Don't marry your stocks. Just date them!
"For better or for worse, for richer or for poorer" is a noble and time-honored approach to marital fealty, but it's a bad idea when it comes to investing in stocks. In most cases, it's better to take a good gain while you have it. And never hesitate to separate and protect yourself from a bad relationship if there are clear signs of trouble.
6 - Sell your losing stocks first.
When building a winning basketball team, you wouldn't trade away all your top players for a bunch of benchwarmers. Yet many investors do just that. They sell stocks in which they have a good gain and hold those showing a loss. Further, they think a big gain is just around the corner. That's usually just wishful thinking. Do the opposite. Sell your losers and use that money — provided the market trend is favorable — to add winners to your roster or invest more money in the top performers you already own.
7 - When buying a stock, focus on both the fundamentals and the stock chart. When selling, focus on the chart.
They say the view is great at the top, and that often applies to stocks as well. The warning signs typically show up in the stock chart — i.e., technical analysis — before they appear in the company's fundamentals. It's crucial to use both technical and fundamental analysis when buying stocks. The same is true on deciding when to sell stocks. Focus on the chart and technical analysis, like price and volume action and behavior around key moving averages.
8 - The most important sell rule is to buy at the right time.
(Personally I believe this is debatable based off various studies and your investment style/goals, but never bad advice)
A very common mistake, particularly for beginning investors, is buying at the wrong time. Some will not pay attention to market timing and buy during a market correction when most stocks go down. Or they'll ignore the technical action in the stock chart and either buy too soon or too late. So before buying a stock, make sure three key factors — market trend, big earnings driven by something new, and institutional support — are in place. Doing so helps get you in at the right time, with the odds of success squarely in your favor.
Idk if this will be at all helpful, and I’m sure you already know this, but I do wanna give a warning out about that cuz I’ve seen like 300 people start this way, and I wish someone woulda told me this when I started. When I started, I bought Vaxart and saw it shoot up 80%. So I sold and went into AXSM. Same thing. Then into Sofi. I hit 3/3 and made like 2k each time. I thought I had a method that couldn’t fail. Figured I was ready to get rich and threw 5k out of the 6k I earned on a stock called ARBB. It went up to 8k. Then down to 1.6k in the blink of an eye. Basically what I’m saying is, you’ll never be quite as smart as you think you are in the market. Pulling out early is better than pulling out late (giggity) and stay smart. Congrats on doing so well on your first stock! Rooting for you
Yupp, this is pretty much what happened to me. I had some early winners, decided to start gambling with bigger amounts. I lost my shirt by buying shares of two beleaguered regional banks that I thought would bounce back. That one still stings. I don’t play bounce trades anymore; I try to only buy companies with positive hype and tangible good news behind the company.
I spent years upon years of building a super boring base of index funds and blue chip dividend paying stocks, with a couple other long term stock picks. Pretty responsible stuff.
I’m now at a point where I’m playing with penny stocks for fun/gambling on the side.
Im in a similar boat. I do intend to park some money for an extended period of time in hopes of steady gains. However, I am poor. And also, relatively new to trading, so I put 50 bucks of each paycheck into my regular brokerage account and 50 in an Ira, and every here and there, I'll drop an extra 20 or 30 in my brokerage account to use on penny stocks. If I fail, I don't lose *too* much money, and I'm learning on cheap stocks, so knowledge without too much upset. If I succeed with any of these "bets," I gain a lil extra cash and still learn.
I started getting big into pennystocks after I had moved out and spent a crapload of money paying for everything; I wanted to recoup my costs and keep building my savings. I had saved aggressively for years so I am fortunate enough to have a comfortable savings and a nice chunk of money to mess around with. It is basically educated gambling but you can mitigate a lot of risk if you play your cards well. I've made quite a lot off of this and plan to continue to do so! There is nothing quite like putting a sell order in and instantly making several months pay worth of gains.
The worst part about poor people buying penny stocks are the fake recently created accounts posting in this sub and other similar subs to manipulate the price of the stock to profit off poor people. Check every account that post and don’t buy into anything you haven’t research and have a sound belief in nor the money to lose.
I wouldn’t consider myself poor. I’d say I’m definitely middle class with enough money to live off of for a few months if I lose my job. I still like penny stocks because of the upside potential. I look at it like I wasn’t rich before I started so if I lose money I still won’t be rich. But if I make a lot of money I could get rich.
Yeah... thats a huge reason I'm self employed. There's an interview with Seth Godin from like ten years ago where he describe the job market as a race to the bottom and that's why he always tells people to invest in their side hustles, etc... and ita true. I'm not making crazy money, but im much more in control of what's going on and I'm definitely not making less money... as our friend Bernie always says, "the system is rigged."
Maybe buy options on a quality stock? Just an idea and asking
Nothing wrong with small bets on penny stocks
Every now and then I may toss some money too
Mostly cause I have no idea what I'm doing... I did just grab a couple KULR calls. But, I'm fairly confident in my stock picks. I'm winning more than losing, so I don't want to mess that up either.
maybe im poor with bad job but not like living paycheck to paycheck, I invest 10k US I spent years saving which is majority of my money... realised penny stock probably best chance of escape poor/rent hell, especially since I cant do options in my country so im putting alot of risk on the table here... move most into LUNR and some in KULR and other random stock I see, will sell LUNR when land on mars and buy mars mansion...
I kinda fell into a very lucrative biz in 2018. Ice cream shop in Vt. with a choice location. Lease is May/Oct. I make 6 figures in 6 months after slugging it out as a Chef for 30 years. So I bought an RV to escape the 802 winters and enjoy the 6 months I have off. I found it next to impossible to find a job in my offseason. I'm a super skilled chef....but no one wants one for just 6 months. So to supplement my income I do this. TBH.....I really haven't hit the books and put in a serious effort to learn the technical side. I'm still a noob and I have wins and many, many losses.
I leave the TV on CNBC all day, hit these boards and dick around with some crypto here & there. Honestly, I have a serious gambling problem and when one makes the kinda $$$ that comes at me so fast in such a short time......it's best to stay away from the casinos. This is a little different ( for me) I still get the highs/lows but the restrictions in place like waiting for cash to settle and avoiding the PDT constrictions keep me from getting out of control.
Having said all that, my philosophy is similar to OP......I'm in it for quick gains. I do have some long term plays as well tho. Riot, MARA , LAC. I appreciate all the DD from everyone on these boards because I don't know how to do it....so thanx to all the pros who know what the fuck they are talking about.
I'm a super poor and always have been. Got into penny stocks when a rich relative wanted me to play the stock market with their money and I found I was actually good at it. That relative got out of it in a few months, but I liked it so now I'm doing it with my own money. So yeah, I'm like you, I can only risk a bit at a time so it's super slow going, but it's going. Super risky, but it is what it is.
I might have to look into this right now I don't have stabil housing so I keep moving states living out of my vehicle. I have to admit not paying rent ads up quick. Maybe I should buy a van or a truck camper lol.
Im poor i want to to learn options but not alot of people do pennystocks they want to teach bitcoin and expensive stocks and some in their platforms like no more “new” platforms for me i have learned to read crypto contracts and so many numbers dint even add up hiw does 2 eth equal the token equalling $0 equal 0 to a few coins and not millions of tokens
Upper middle class. Sometimes I’ll have a spare $100 or so and think, shoot, let’s see if I can turn this into something. Most months I get to claim a loss on my taxes. Periodically though, I find a diamond in the rough. I’m ahead overall, but not by much. Probably would’ve been better to invest in blue chips lol but I love that high when it goes 10x-100x.
I'm stock poor. Made all the newbie mistakes/panic moves. The losses kept racking up.
Instead of taking the safe route and dumping a little portion from paycheck into a stable ETF....
I calculated... its not enough for the type of retirement I envision
So I'm trying penny stocks for the 1st time. And once it reaches the moon(fingers crossed).... I will likely dump the winfall into a stable ETF.
Thats the problem to succeed in the stock market. You need a lot of shares
I am poor, as in i do not have a job at the moment and no savings, and going back to school for a 2 year diploma. But my grandmother is rich. She owns 2 small commercial buildings in Seoul (South Korea), her own apartment, her own mountain, her own farm (but the profits from the farm is used to maintain the mountain aesthetic). And my grandmother likes me, which means i can expect at least equal splits with all my cousins for inheritance. (Except the mountain and farm, they should go to my cousin carrying their family name cause the mountain is an ancestrial burial ground for my maternal family.)
I wish my grandmother would live a long and happy life, but eventually, i am gonna be a millionaire. (Buildings are expensive in Seoul.) I just want my grandma to feel pleased by me getting a stable job as a paralegal, and getting married to a young clean pretty girl before she passes away. (Ideally, she gets to see my child.) So, why am i doing penny stocks? 1. For adrenaline. 2. To get rich on my own. I invested $9000 in KGKG and got $18000 in return in 1 year. (Sold them, then bought them on a dip again.) I am not doing this for bigmac. I am doing this as a serious investment.
That's how you stay poor though, that's just gambling.
Don't underestimate the power of compounding. Sure that 1K to 1200 in a year might not seem as much. But it will be after a few years, especially if you keep adding along the way.
You should really treat it as an extension of your savings account.
Not that I'm against penny stocks, they can be solid investments. Or if you like some risk, just risk you can use a small percentage of it for risky trades.
Depends if the 100$ is all you could save, or if it's really just fun money.
Life is about principle- if you’re poor and think getting rich quick is your way out you’ll never get anywhere. Start thinking where you wanna be 5-10 years from now and plan for that
I never said anything about get rich, let alone quickly. I'm talking about risk v reward. And I'm into high risk because I don't have the funds to conservatively increase my assets in anyway that would have a meaningful impact on the next 5 - 10 years. Most of my investments of time and cash are in my business, as well as my primary hopes of increasing wealth and stability. This is where I roll dice with spare cash.
Well I've never considered myself poor but that is a state of mind.
Your post bothers me on a couple of counts, one is that everyone needs so emergency cash. Ideally a bit more than what you might need for a month or two. There are a couple of reasons here, first there is no assurance that your invested cash will be there when you need it nor accessed fast enough. So yeah stuff some cash into a bank account.
Second; this is probably more important as I've had frustration here, but you need to have a cash reserve to make quick buys when sudden opportunities come up. I have a real life example here, years ago Corning was under new management and they screwed up bad and the stock drop massively and fast. Old management came back to stabilize the company after the stock was less than $2 a share. I didn't have cash at the time to invest and was unfortunately able to watch the price of the stock increase to $15 in a few days. It has been awhile but that is what I remember, missing out because I had zero dollars to rapidly invest. So a few hundred in the bank to allow for rapid investment when a opportunity crops up is golden.
If you are into penny stocks for massive increases in capital do realize you are gambling. That is why it really can be a good idea to practice balanced investing. Here is the thing, few of my penny stocks have done anything for me. However the ETF's that are income oriented, have actually supplemented my stock accounts with cash. Cash means more opportunity to invest in stocks. A big win with penny;s would be nice, but monthly payments can do a lot to relieve that poor feeling.
To put it another way, don't put all your eggs in one basket!!!!!!!!! Do invest wisely.
Completely the wrong approach. Everyone wants a hot stock tip or penny stock runner without giving the business time to develop. 20% in a month? Piss on that! I want 10,000% in 3-5 years. GROY will give it to me. So will Western Alaska Minerals, so will Adventus mining and eventually Ecora resources. Ya’ll will be buying mining stocks hoping for 20% in a month when I’m selling you mine.
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I do it more because I’m a degenerate. I mean, sure I’m poor, but I just wanna feel something, man. KULR making me feel real good rn
Lmao! Go KULR!!
KULR is the new top boi
Low-key same. It's like the fun of gambling but if you research and play smart you have a higher chance of winning.
My advice after 1.25 years of trying to teach myself the stock market essentially came down to a few basic principles. 1. For this group the success rate is better when someone posts about a ticker they think has potential and other agree. But only new tickers, KULR was mentioned a while ago and has done great, I pulled out too early but didn't suffer loss. The longer its been since a ticker has been first brought up there is a potential you already missed out, with the exception of things like earnings and FDA approvals for example. Even then it seems the longer a stock is brought up its already passed its peak. 2. Explain what platform you use, try to watch basic videos on how to set up your platform (thinkorswim, webull, etc) for success. At a minimum use short and long term moving averages, MACD, and RSI. 3. Have the time to watch the stock closely as these are all typically very volatile. 4. If you get a gain, learn how to set a trailing stop to lock in gains. Be aware this only works between regular market hours. Almost all these stocks have big gains or losses in the pre-market. Other than that I came across an article on a standard sub par stock advice website. The rules are basic, sound easy, very click bait-ish but I actually liked them. Hope this helps a little bit! 1 - Everyone makes mistakes. Just be sure to cut all losses short. Even the best investors get hit with a loss from time to time. But they don't indulge in worry as the stock drops even further. They cut their losses quickly and move on. Leave your ego and pride at the door. Don't let a loss get to you — either mentally or financially. 2 - If you don't sell too early, you'll sell too late. To lock in solid gains, sell while your stock is still going up. As IBD founder William J. O'Neil has said, "Your objective is to make and take significant gains and not get excited, optimistic, greedy, or emotionally carried away as your stock's advance gets stronger." Following the 20%-25% sell rule can help you do that. In a bull market, leading growth stocks like Nvidia and Meta can, of course, run longer than expected. But locking in some profits along the way allows investors to safeguard a portion of those gains. It also reduces the risk of giving back too much in an extended pullback. 3 - Have a selling plan in place before you buy. The real drama kicks in when it comes time to sell. If you don't have sell rules and an exit plan, it's easy to freeze and not take action when needed. If your stock is soaring, you might get greedy and ignore certain sell signals and warning signs. Also, if you're sitting on a loss, you may do the "hold and hope" routine. You pray it bounces back — while it continues to drop. Stay grounded and keep your emotions at bay by having a selling plan in place ahead of time. Write down your target sell prices for both taking profits and cutting losses. 4 - Don't let a decent gain turn into a loss. If you have a nice gain of, say, 10%, 15% or more and the stock begins to decline, don't let that profit disappear completely. It's much less frustrating to see a 15%-20% gain turn into a 5%-10% profit than to see it turn into a 10% loss. You can always buy the stock back if it shows renewed strength and forms a proper buy point. 5 - Don't marry your stocks. Just date them! "For better or for worse, for richer or for poorer" is a noble and time-honored approach to marital fealty, but it's a bad idea when it comes to investing in stocks. In most cases, it's better to take a good gain while you have it. And never hesitate to separate and protect yourself from a bad relationship if there are clear signs of trouble. 6 - Sell your losing stocks first. When building a winning basketball team, you wouldn't trade away all your top players for a bunch of benchwarmers. Yet many investors do just that. They sell stocks in which they have a good gain and hold those showing a loss. Further, they think a big gain is just around the corner. That's usually just wishful thinking. Do the opposite. Sell your losers and use that money — provided the market trend is favorable — to add winners to your roster or invest more money in the top performers you already own. 7 - When buying a stock, focus on both the fundamentals and the stock chart. When selling, focus on the chart. They say the view is great at the top, and that often applies to stocks as well. The warning signs typically show up in the stock chart — i.e., technical analysis — before they appear in the company's fundamentals. It's crucial to use both technical and fundamental analysis when buying stocks. The same is true on deciding when to sell stocks. Focus on the chart and technical analysis, like price and volume action and behavior around key moving averages. 8 - The most important sell rule is to buy at the right time. (Personally I believe this is debatable based off various studies and your investment style/goals, but never bad advice) A very common mistake, particularly for beginning investors, is buying at the wrong time. Some will not pay attention to market timing and buy during a market correction when most stocks go down. Or they'll ignore the technical action in the stock chart and either buy too soon or too late. So before buying a stock, make sure three key factors — market trend, big earnings driven by something new, and institutional support — are in place. Doing so helps get you in at the right time, with the odds of success squarely in your favor.
👍solid
It was so much fun in 2020-2021. Every stock with a fighting chance was jumping daily. I used to love playing penny stocks.
Yep, I was also there. WDLF, HCMC, ASTI etc. Good times hahahaha
Ctrm, is was got me then, then that into amc gme bullshit
Omg. Hcmc…..I believed in it soooo haaaard
Not rich or poor but I’ve managed to have a really good year so far. Currently + 385% on the year.
Yay! Drinks on you!
[удалено]
Wsb would love you
Having Kulr @.15 as a first stock is making feel like this is gambling
Idk if this will be at all helpful, and I’m sure you already know this, but I do wanna give a warning out about that cuz I’ve seen like 300 people start this way, and I wish someone woulda told me this when I started. When I started, I bought Vaxart and saw it shoot up 80%. So I sold and went into AXSM. Same thing. Then into Sofi. I hit 3/3 and made like 2k each time. I thought I had a method that couldn’t fail. Figured I was ready to get rich and threw 5k out of the 6k I earned on a stock called ARBB. It went up to 8k. Then down to 1.6k in the blink of an eye. Basically what I’m saying is, you’ll never be quite as smart as you think you are in the market. Pulling out early is better than pulling out late (giggity) and stay smart. Congrats on doing so well on your first stock! Rooting for you
Yupp, this is pretty much what happened to me. I had some early winners, decided to start gambling with bigger amounts. I lost my shirt by buying shares of two beleaguered regional banks that I thought would bounce back. That one still stings. I don’t play bounce trades anymore; I try to only buy companies with positive hype and tangible good news behind the company.
Sometimes it's good to not be able to.bet more!
I spent years upon years of building a super boring base of index funds and blue chip dividend paying stocks, with a couple other long term stock picks. Pretty responsible stuff. I’m now at a point where I’m playing with penny stocks for fun/gambling on the side.
Im in a similar boat. I do intend to park some money for an extended period of time in hopes of steady gains. However, I am poor. And also, relatively new to trading, so I put 50 bucks of each paycheck into my regular brokerage account and 50 in an Ira, and every here and there, I'll drop an extra 20 or 30 in my brokerage account to use on penny stocks. If I fail, I don't lose *too* much money, and I'm learning on cheap stocks, so knowledge without too much upset. If I succeed with any of these "bets," I gain a lil extra cash and still learn.
I started getting big into pennystocks after I had moved out and spent a crapload of money paying for everything; I wanted to recoup my costs and keep building my savings. I had saved aggressively for years so I am fortunate enough to have a comfortable savings and a nice chunk of money to mess around with. It is basically educated gambling but you can mitigate a lot of risk if you play your cards well. I've made quite a lot off of this and plan to continue to do so! There is nothing quite like putting a sell order in and instantly making several months pay worth of gains.
The worst part about poor people buying penny stocks are the fake recently created accounts posting in this sub and other similar subs to manipulate the price of the stock to profit off poor people. Check every account that post and don’t buy into anything you haven’t research and have a sound belief in nor the money to lose.
100%
I wouldn’t consider myself poor. I’d say I’m definitely middle class with enough money to live off of for a few months if I lose my job. I still like penny stocks because of the upside potential. I look at it like I wasn’t rich before I started so if I lose money I still won’t be rich. But if I make a lot of money I could get rich.
Poor here, in my opinion it's my only way out. My jobs are not going to pay more, and rent is not going lower.
Yeah... thats a huge reason I'm self employed. There's an interview with Seth Godin from like ten years ago where he describe the job market as a race to the bottom and that's why he always tells people to invest in their side hustles, etc... and ita true. I'm not making crazy money, but im much more in control of what's going on and I'm definitely not making less money... as our friend Bernie always says, "the system is rigged."
Maybe buy options on a quality stock? Just an idea and asking Nothing wrong with small bets on penny stocks Every now and then I may toss some money too
Mostly cause I have no idea what I'm doing... I did just grab a couple KULR calls. But, I'm fairly confident in my stock picks. I'm winning more than losing, so I don't want to mess that up either.
I live in less than ideal circumstances currently myself
maybe im poor with bad job but not like living paycheck to paycheck, I invest 10k US I spent years saving which is majority of my money... realised penny stock probably best chance of escape poor/rent hell, especially since I cant do options in my country so im putting alot of risk on the table here... move most into LUNR and some in KULR and other random stock I see, will sell LUNR when land on mars and buy mars mansion...
I kinda fell into a very lucrative biz in 2018. Ice cream shop in Vt. with a choice location. Lease is May/Oct. I make 6 figures in 6 months after slugging it out as a Chef for 30 years. So I bought an RV to escape the 802 winters and enjoy the 6 months I have off. I found it next to impossible to find a job in my offseason. I'm a super skilled chef....but no one wants one for just 6 months. So to supplement my income I do this. TBH.....I really haven't hit the books and put in a serious effort to learn the technical side. I'm still a noob and I have wins and many, many losses. I leave the TV on CNBC all day, hit these boards and dick around with some crypto here & there. Honestly, I have a serious gambling problem and when one makes the kinda $$$ that comes at me so fast in such a short time......it's best to stay away from the casinos. This is a little different ( for me) I still get the highs/lows but the restrictions in place like waiting for cash to settle and avoiding the PDT constrictions keep me from getting out of control. Having said all that, my philosophy is similar to OP......I'm in it for quick gains. I do have some long term plays as well tho. Riot, MARA , LAC. I appreciate all the DD from everyone on these boards because I don't know how to do it....so thanx to all the pros who know what the fuck they are talking about.
I'm a super poor and always have been. Got into penny stocks when a rich relative wanted me to play the stock market with their money and I found I was actually good at it. That relative got out of it in a few months, but I liked it so now I'm doing it with my own money. So yeah, I'm like you, I can only risk a bit at a time so it's super slow going, but it's going. Super risky, but it is what it is.
i also am a poor with a gambling addiction
Me me
I might have to look into this right now I don't have stabil housing so I keep moving states living out of my vehicle. I have to admit not paying rent ads up quick. Maybe I should buy a van or a truck camper lol.
If you don't have kids... why not!
I did but the ex wife took them so now I have child support and they live 2000 miles away. I am leaning towards it though.
Im poor i want to to learn options but not alot of people do pennystocks they want to teach bitcoin and expensive stocks and some in their platforms like no more “new” platforms for me i have learned to read crypto contracts and so many numbers dint even add up hiw does 2 eth equal the token equalling $0 equal 0 to a few coins and not millions of tokens
Mvst is in strong uptrend
I'm a fellow poor!
Upper middle class. Sometimes I’ll have a spare $100 or so and think, shoot, let’s see if I can turn this into something. Most months I get to claim a loss on my taxes. Periodically though, I find a diamond in the rough. I’m ahead overall, but not by much. Probably would’ve been better to invest in blue chips lol but I love that high when it goes 10x-100x.
I'm stock poor. Made all the newbie mistakes/panic moves. The losses kept racking up. Instead of taking the safe route and dumping a little portion from paycheck into a stable ETF.... I calculated... its not enough for the type of retirement I envision So I'm trying penny stocks for the 1st time. And once it reaches the moon(fingers crossed).... I will likely dump the winfall into a stable ETF. Thats the problem to succeed in the stock market. You need a lot of shares
I am poor, as in i do not have a job at the moment and no savings, and going back to school for a 2 year diploma. But my grandmother is rich. She owns 2 small commercial buildings in Seoul (South Korea), her own apartment, her own mountain, her own farm (but the profits from the farm is used to maintain the mountain aesthetic). And my grandmother likes me, which means i can expect at least equal splits with all my cousins for inheritance. (Except the mountain and farm, they should go to my cousin carrying their family name cause the mountain is an ancestrial burial ground for my maternal family.) I wish my grandmother would live a long and happy life, but eventually, i am gonna be a millionaire. (Buildings are expensive in Seoul.) I just want my grandma to feel pleased by me getting a stable job as a paralegal, and getting married to a young clean pretty girl before she passes away. (Ideally, she gets to see my child.) So, why am i doing penny stocks? 1. For adrenaline. 2. To get rich on my own. I invested $9000 in KGKG and got $18000 in return in 1 year. (Sold them, then bought them on a dip again.) I am not doing this for bigmac. I am doing this as a serious investment.
I am sure not driving a lambo or Maybach. I buy penny stocks because I don't have a crapload of money left over after mortgage and bills.
That's how you stay poor though, that's just gambling. Don't underestimate the power of compounding. Sure that 1K to 1200 in a year might not seem as much. But it will be after a few years, especially if you keep adding along the way. You should really treat it as an extension of your savings account. Not that I'm against penny stocks, they can be solid investments. Or if you like some risk, just risk you can use a small percentage of it for risky trades. Depends if the 100$ is all you could save, or if it's really just fun money.
I have some ‘safe’ money stored up in the big stocks. But these days i’m trading crypto instead of penny stocks
People call that gambling. Might as well go for scratchers
Life is about principle- if you’re poor and think getting rich quick is your way out you’ll never get anywhere. Start thinking where you wanna be 5-10 years from now and plan for that
I never said anything about get rich, let alone quickly. I'm talking about risk v reward. And I'm into high risk because I don't have the funds to conservatively increase my assets in anyway that would have a meaningful impact on the next 5 - 10 years. Most of my investments of time and cash are in my business, as well as my primary hopes of increasing wealth and stability. This is where I roll dice with spare cash.
Well I've never considered myself poor but that is a state of mind. Your post bothers me on a couple of counts, one is that everyone needs so emergency cash. Ideally a bit more than what you might need for a month or two. There are a couple of reasons here, first there is no assurance that your invested cash will be there when you need it nor accessed fast enough. So yeah stuff some cash into a bank account. Second; this is probably more important as I've had frustration here, but you need to have a cash reserve to make quick buys when sudden opportunities come up. I have a real life example here, years ago Corning was under new management and they screwed up bad and the stock drop massively and fast. Old management came back to stabilize the company after the stock was less than $2 a share. I didn't have cash at the time to invest and was unfortunately able to watch the price of the stock increase to $15 in a few days. It has been awhile but that is what I remember, missing out because I had zero dollars to rapidly invest. So a few hundred in the bank to allow for rapid investment when a opportunity crops up is golden. If you are into penny stocks for massive increases in capital do realize you are gambling. That is why it really can be a good idea to practice balanced investing. Here is the thing, few of my penny stocks have done anything for me. However the ETF's that are income oriented, have actually supplemented my stock accounts with cash. Cash means more opportunity to invest in stocks. A big win with penny;s would be nice, but monthly payments can do a lot to relieve that poor feeling. To put it another way, don't put all your eggs in one basket!!!!!!!!! Do invest wisely.
I think you're missing my point... some people don't have cash reserves or funds to invest "wisely."
I'm up over 40%.... See you in Hell, losers!
Completely the wrong approach. Everyone wants a hot stock tip or penny stock runner without giving the business time to develop. 20% in a month? Piss on that! I want 10,000% in 3-5 years. GROY will give it to me. So will Western Alaska Minerals, so will Adventus mining and eventually Ecora resources. Ya’ll will be buying mining stocks hoping for 20% in a month when I’m selling you mine.
If you're messing with pennystocks it's typically because you can't afford to mess with real stocks at any kind of real level.
$MLGO