Very Very New!!! - Penny Stocks

little4040 · Mon, 12-17-2007, 08:57 PM

Someone get me started. i have no clue where to start. i want to invest and make some money. where can i buy shares at and where do i sell shares?? is there a set time period you have to keep the stock before you sell?? i want to invest Penny stocks...how much money should i have to get started?? thanks guys..

CashCow · Mon, 12-17-2007, 09:53 PM

oh wow, where to begin lol

well, as they always say dont put in more than you can afford to lose. in your situation i wouldnt put in more than 500. you can start out with 200..in fact id say 200 just to do a trade or two to get a feel how the platform works whichever you decide to use. i have used two platforms

mytradz and choicetrade

id go with choicetrade just because i get 5 or 7 dollars per trade which is better to 18 per trade with mytradz on pennies.

there are some really good educational forums on this board i suggest you do some looking around to check them out. learn charts too.

prepare to get burned when you start unless you get lucky...its just all apart of the game. never get emotional about a stock. be quick...get in get out...be done.

i wouldnt buy into a stock that has dropped..some call that averaging down if you hold a position and buy more as it drops. why buy a stock that is failing? buy at a steady price, or you can just buy high and sell higher if you get to the point where you can get into a run and get out quickly...that is more advanced though. learn about level 2...man i could go on forever ill let someone else take over from here.

capt_nemo · Tue, 12-18-2007, 09:28 AM

Quote:

Originally Posted by CashCow

oh wow, where to begin lol

well, as they always say dont put in more than you can afford to lose. in your situation i wouldnt put in more than 500. you can start out with 200..in fact id say 200 just to do a trade or two to get a feel how the platform works whichever you decide to use. i have used two platforms

mytradz and choicetrade

id go with choicetrade just because i get 5 or 7 dollars per trade which is better to 18 per trade with mytradz on pennies.

there are some really good educational forums on this board i suggest you do some looking around to check them out. learn charts too.

prepare to get burned when you start unless you get lucky...its just all apart of the game. never get emotional about a stock. be quick...get in get out...be done.

i wouldnt buy into a stock that has dropped..some call that averaging down if you hold a position and buy more as it drops. why buy a stock that is failing? buy at a steady price, or you can just buy high and sell higher if you get to the point where you can get into a run and get out quickly...that is more advanced though. learn about level 2...man i could go on forever ill let someone else take over from here.

Don't even know how to respond to his/her query

littlegto67 · Tue, 12-18-2007, 09:58 PM

Wow that's a Great question, when you look at the millions of things out there that COULD you money, you see all kinds of claims and hypes out there. However what WILL make you money, NO ONE can guarantee.
Choicetrade seems to be a good company, and they're cheap -as opposed to the bigger ones out there.
Its somewhat wise to follow trends. You could look into commodities, which remain pretty level and are rather somewhat predictable, however, they move at slower paces on average.
Gold however seems to big substance generating some hype, with it's rapid increases. Right now at about $800/OZ we could see upwards of $1500/OZ within the next 12-18mo's. Also some of the companies trying to obtain/cultivate/mine/deal it would be some good places to look. (this is also to say with platinum (at over $1400/OZ) and silver)

Although, due you own due diligence! Pick sectors and areas you're inherently interested in i.e. Technology, precious metals, engineering, food,..etc...

ALso decide how big you wanna go, how adventurous are you? Do you wanna deal mostly with the small cap stocks, ie. .20C -a couple bucks a share? or do you have the reserves and drive to deal with the large cap stocks that will run you from $7-60/share?

But again, I speak for me and where I've had luck in, which is precious metals and some other commodities, as well as the exploration companies that refine them... Everyone's different!
Good luck!

capt_nemo · Tue, 12-18-2007, 10:24 PM

Quote:

Originally Posted by littlegto67

Wow that's a Great question, when you look at the millions of things out there that COULD you money, you see all kinds of claims and hypes out there. However what WILL make you money, NO ONE can guarantee.
Choicetrade seems to be a good company, and they're cheap -as opposed to the bigger ones out there.
Its somewhat wise to follow trends. You could look into commodities, which remain pretty level and are rather somewhat predictable, however, they move at slower paces on average.
Gold however seems to big substance generating some hype, with it's rapid increases. Right now at about $800/OZ we could see upwards of $1500/OZ within the next 12-18mo's. Also some of the companies trying to obtain/cultivate/mine/deal it would be some good places to look. (this is also to say with platinum (at over $1400/OZ) and silver)

Although, due you own due diligence! Pick sectors and areas you're inherently interested in i.e. Technology, precious metals, engineering, food,..etc...

Also decide how big you wanna go, how adventurous are you? Do you wanna deal mostly with the small cap stocks, ie. .20C -a couple bucks a share? or do you have the reserves and drive to deal with the large cap stocks that will run you from $7-60/share?

But again, I speak for me and where I've had luck in, which is precious metals and some other commodities, as well as the exploration companies that refine them... Everyone's different!
Good luck!

LOL Have looked at what our dollar is worth??? declining every day!!! I guess gold was the old means of bartering and will be again haaaaaa, Nothing to laugh about but HEY!!!!!!!!! I ain't going to lose any sleep over it.

kodiak5280 · Mon, 12-24-2007, 02:59 AM

Quote:

Originally Posted by capt_nemo

LOL Have looked at what our dollar is worth??? declining every day!!! I guess gold was the old means of bartering and will be again haaaaaa, Nothing to laugh about but HEY!!!!!!!!! I ain't going to lose any sleep over it.

Hey Cap'n, Where do YOU think the dollar will far to and how do you think it will hover there??

capt_nemo · Mon, 12-24-2007, 10:35 AM

Quote:

Originally Posted by kodiak5280

Hey Cap'n, Where do YOU think the dollar will far to and how do you think it will hover there??

it sure needs to stop dropping!!! The Canadians are coming down here now for their exchange of our $$$$ That hasn't happened in years!!

1 us $ = 0.9897 Canadian

fred333 · Mon, 01-28-2008, 11:43 AM

I did not know it had gotten that bad. I hope the USD comes back soon.

Mon, 12-17-2007, 08:57 PM	#1 (permalink)
little4040 Join Date: Dec 2007 Posts: 1	Very Very New!!! Someone get me started. i have no clue where to start. i want to invest and make some money. where can i buy shares at and where do i sell shares?? is there a set time period you have to keep the stock before you sell?? i want to invest Penny stocks...how much money should i have to get started?? thanks guys..

Mon, 01-28-2008, 11:43 AM	#8 (permalink)
fred333 Member Join Date: Jan 2008 Location: Littleton, CO Posts: 18	I did not know it had gotten that bad. I hope the USD comes back soon. __________________ Always looking for fast business funds!

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Mon, 12-17-2007, 09:53 PM	#2 (permalink)
CashCow Never average down Join Date: Jul 2006 Posts: 49	oh wow, where to begin lol well, as they always say dont put in more than you can afford to lose. in your situation i wouldnt put in more than 500. you can start out with 200..in fact id say 200 just to do a trade or two to get a feel how the platform works whichever you decide to use. i have used two platforms mytradz and choicetrade id go with choicetrade just because i get 5 or 7 dollars per trade which is better to 18 per trade with mytradz on pennies. there are some really good educational forums on this board i suggest you do some looking around to check them out. learn charts too. prepare to get burned when you start unless you get lucky...its just all apart of the game. never get emotional about a stock. be quick...get in get out...be done. i wouldnt buy into a stock that has dropped..some call that averaging down if you hold a position and buy more as it drops. why buy a stock that is failing? buy at a steady price, or you can just buy high and sell higher if you get to the point where you can get into a run and get out quickly...that is more advanced though. learn about level 2...man i could go on forever ill let someone else take over from here.

Tue, 12-18-2007, 09:58 PM	#4 (permalink)
littlegto67 drive fast, take chances. Join Date: Nov 2007 Location: Los Angeles, SOCAL Posts: 6	Wow that's a Great question, when you look at the millions of things out there that COULD you money, you see all kinds of claims and hypes out there. However what WILL make you money, NO ONE can guarantee. Choicetrade seems to be a good company, and they're cheap -as opposed to the bigger ones out there. Its somewhat wise to follow trends. You could look into commodities, which remain pretty level and are rather somewhat predictable, however, they move at slower paces on average. Gold however seems to big substance generating some hype, with it's rapid increases. Right now at about $800/OZ we could see upwards of $1500/OZ within the next 12-18mo's. Also some of the companies trying to obtain/cultivate/mine/deal it would be some good places to look. (this is also to say with platinum (at over $1400/OZ) and silver) Although, due you own due diligence! Pick sectors and areas you're inherently interested in i.e. Technology, precious metals, engineering, food,..etc... ALso decide how big you wanna go, how adventurous are you? Do you wanna deal mostly with the small cap stocks, ie. .20C -a couple bucks a share? or do you have the reserves and drive to deal with the large cap stocks that will run you from $7-60/share? But again, I speak for me and where I've had luck in, which is precious metals and some other commodities, as well as the exploration companies that refine them... Everyone's different! Good luck!