Hello - Penny Stocks

camerondad2003 · Sun, 08-19-2007, 02:24 AM

Hello everyone. I'm a 23 year old married man with one 3 year old son. I've been looking into stocks for the past month or so. I have been trying to start in the market for yearS! but with a 3 year old it's hard to make any extra money to lose but now times have changed. I have a much better job and I bought 2 shares of exxon stock and 1 of best buy. I know it's not much but it's a start.

Here are a few of my questions.

#1 I'm using sharebuilder. I don't even know if its a good site or not.

#2 I have two set goals for myself one is to keep exxon and put as much as I can for 10-15 years to help pay some of my house. My second goal is to try my luck with penny stocks. I know I have read that you will lose most of the time but it's that little chance to make a profit that get's me excited.

Can anyone please recommend what site to use if I plan on buying some penny stocks and doing some fast selling. This is my plan I don't even know if it's possible but I wanted to research and watch a stock buy around 200.00 dollars in shares of a stock under 1.00 on the rise and sell it as soon as it gets enough profit to cover the commission make a little profit and rinse and repeat.

hermanpu86 · Sun, 08-19-2007, 03:03 AM

zecco.com free commission trading, i can't recommend them enough. It really counts when you're working with little capital like 200$ per trade. The average for brokers seems to be 7-10$ each way, so thats about 20$ which is 10% so that is very hard to overcome. Zecco is 40 free trades a month without a minimum balance. 10 trades max per day. Partial fills are really crappy too, when you only get like 100 shares of a stock worth .001 so you just paid like 10$ to buy 10 cents worth of stock.

Iam Nottadog · Sun, 08-19-2007, 09:29 AM

do NOT use Scottrade for shares trading under 1.00, they charge 7..00 +1/2% each way. That % can add up huge over time. zeco sounds good, or Choicetrade at 5.00 each way. Good luck and may the WOOF be with you!

camerondad2003 · Sun, 08-19-2007, 09:30 AM

Thanks for the response I registered this morning however it wont let me do anything else yet because the website is down. If anyone has time just to talk to me via this website, the chat room or anything. I would love it just for advice.

Thanks

chuck44l · Sun, 08-19-2007, 01:07 PM

Camerondad Welcome to SHO. Be sure to join us in the chat room. Good luck on your future investments.

camerondad2003 · Sun, 08-19-2007, 03:03 PM

I plan on it. Starting Tommorow =)

Sun, 08-19-2007, 02:24 AM	#1 (permalink)
camerondad2003 Join Date: Aug 2007 Posts: 9	Hello Hello everyone. I'm a 23 year old married man with one 3 year old son. I've been looking into stocks for the past month or so. I have been trying to start in the market for yearS! but with a 3 year old it's hard to make any extra money to lose but now times have changed. I have a much better job and I bought 2 shares of exxon stock and 1 of best buy. I know it's not much but it's a start. Here are a few of my questions. #1 I'm using sharebuilder. I don't even know if its a good site or not. #2 I have two set goals for myself one is to keep exxon and put as much as I can for 10-15 years to help pay some of my house. My second goal is to try my luck with penny stocks. I know I have read that you will lose most of the time but it's that little chance to make a profit that get's me excited. Can anyone please recommend what site to use if I plan on buying some penny stocks and doing some fast selling. This is my plan I don't even know if it's possible but I wanted to research and watch a stock buy around 200.00 dollars in shares of a stock under 1.00 on the rise and sell it as soon as it gets enough profit to cover the commission make a little profit and rinse and repeat.

Sun, 08-19-2007, 01:07 PM	#5 (permalink)
chuck44l Moderator Join Date: Nov 2006 Location: Lakin Kansas Posts: 165	Camerondad Welcome to SHO. Be sure to join us in the chat room. Good luck on your future investments. __________________ Don't buy or sell based on my opinion. Most stocks i post are a short term play. It may make you money and it may not. Do your own DD. Happy trading.

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Sun, 08-19-2007, 03:03 AM	#2 (permalink)
hermanpu86 Member Join Date: Mar 2007 Posts: 15	zecco.com free commission trading, i can't recommend them enough. It really counts when you're working with little capital like 200$ per trade. The average for brokers seems to be 7-10$ each way, so thats about 20$ which is 10% so that is very hard to overcome. Zecco is 40 free trades a month without a minimum balance. 10 trades max per day. Partial fills are really crappy too, when you only get like 100 shares of a stock worth .001 so you just paid like 10$ to buy 10 cents worth of stock.

Sun, 08-19-2007, 09:29 AM	#3 (permalink)
Iam Nottadog Senior Member Join Date: Jun 2006 Location: All over, mostly sw US Posts: 126	do NOT use Scottrade for shares trading under 1.00, they charge 7..00 +1/2% each way. That % can add up huge over time. zeco sounds good, or Choicetrade at 5.00 each way. Good luck and may the WOOF be with you!

Sun, 08-19-2007, 09:30 AM	#4 (permalink)
camerondad2003 Join Date: Aug 2007 Posts: 9	Thanks for the response I registered this morning however it wont let me do anything else yet because the website is down. If anyone has time just to talk to me via this website, the chat room or anything. I would love it just for advice. Thanks

Sun, 08-19-2007, 03:03 PM	#6 (permalink)
camerondad2003 Join Date: Aug 2007 Posts: 9	I plan on it. Starting Tommorow =)