I have been playing with cpl penny stocks while at computer in mornings and made cpl bucks,not getting rich. WOndering if any others here play penny stocks and maybe discuss ideas.

Before anyone tells me .Yes I know they are high risk and better off with blue chip stock. Have those just no fun and this is play and hopefully make few bucks thing.

I prefer my pennies in the one armed bandit. That way I can see how fast I'm losing it in real time.

Penny stocks LOL Why waste cash.... in February 2016 I bought stock in a company I really dislike VISA my $10,000 has a value today of $19,244. That's called easy money...... My tax guy said it was ready to bust loose.....LOL

Your VISA stock dropped yesterday when Kroger announced they would no longer accept VISA cards in their stores in California, due to their high fees. Will be an interesting story to follow going forward.

quote:

Originally posted by J178RED:
Penny stocks LOL Why waste cash.... in February 2016 I bought stock in a company I really dislike VISA my $10,000 has a value today of $19,244. That's called easy money...... My tax guy said it was ready to bust loose.....LOL

Yea not real mad about my penny stock account tripling in 4 months either.

My father in law is always asking me about some easy money deal. Last time was about penny stocks. I told him I have no business putting my money into something I know nothing about and have no interest in learning.

quote:

Originally posted by SlyFox:
Your VISA stock dropped yesterday when Kroger announced they would no longer accept VISA cards in their stores in California, due to their high fees. Will be an interesting story to follow going forward.

That's what I like about stocks , you can watch and count where your at but until you sell it you have not made a thing. I know stocks are a risky business but if you take some time and research your investments it can be very awarding. I have made more in down markets , that 2008 bust made me big cash....

while can not do with penny stocks.Where other than stock market can you sell something you do not own,make money and its legal? Yea shorts are betting against market but money made is money made. LOL

What I like about penny stock deal is a lot of them go in cycles in short period and some do so daily with a semi regular pattern.

As for make or loose until you sale.Another reason I like playing small stocks you can get in and out in short period of time.

Its all a gamble not like racing which is sure thing.LMAO

Wide, have played with penny’s. If you can watch and sell for small profit, they are fun. Never let them sit. Go on forums and watch for stocks being pumped. Have fun

Yea I have been hitting one I am playing now for about 15 to 20% at the time and doing so 4 or 5 times a week.My theory if I am making money above and beyond cost of trades its good.

Looking for forums and other leads. Which ones do you visit?

Penny stocks are more like gambling than investing. Maybe even worse since there is little or no regulation on many of the exchanges. Lots of pump and dump schemes where people push the stocks on various forums or other outlets using fake news reports. Then once people buy in they dump and the share value falls.

With that said, I threw a few bucks into a pot stock a couple years ago. Doubled my money in a few months time and got out. Probably won't mess around with them anymore. Pot stocks are popular right now and there will be some winners but there will also be a lot of losers.

If you do it don't play with money you'll be upset losing. The volatility and risk is very high. As with anything else do as much research as possible. Good luck!

Hell I would never leave money in expecting anything steady with penny stock.

Only play with thousand or two in account.
I am borderline day trader according to rules. Rules are no more than 3 day trades in 5 day span,not that I would ever do three in five and wait till 6th from first to do another.LOL

Not sure one's I have been playing are even penny stocks.Todays was .009 to .013 and back to .01,but did so cpl times.Yesterday it had 60% jump,but funds from last sell where on hold till today.

Like anything, it takes time and interest to know enough to do something effectively. If I spent time doing that, I had better make enough doing it to have someone else work on my race car. Cuz I don't have enough time for both.

Spent more time typing on subject than actually on trades today.LOL Besides if making money I am working on race car. Plus good break from typing monthly cost reports for July.

quote:

Originally posted by J178RED:

quote:

Originally posted by SlyFox:
Your VISA stock dropped yesterday when Kroger announced they would no longer accept VISA cards in their stores in California, due to their high fees. Will be an interesting story to follow going forward.

That's what I like about stocks , you can watch and count where your at but until you sell it you have not made a thing. I know stocks are a risky business but if you take some time and research your investments it can be very awarding. I have made more in down markets , that 2008 bust made me big cash....

I wasn't really commenting on your investment, but more so that I'm surprised that this news didn't make a bigger splash yesterday. NOBODY hardly carries cash anymore. I still carry cash, and people look at me like I'm nuts when I pull it out and use it. People use credit cards for EVERYTHING, and the fees that vendors like Kroger pay add up to enormous sums for the banks. Like I said, this could get interesting.

quote:

Originally posted by wideopen231:
Yea I have been hitting one I am playing now for about 15 to 20% at the time and doing so 4 or 5 times a week.My theory if I am making money above and beyond cost of trades its good.

Looking for forums and other leads. Which ones do you visit?

And Capital Gains.

Fing gubberment always has the hand out to take our money, no matter HOW we make it!

yea loose some on capital gains,but making money is making money. Plus write from motorsports promotion will offset loss's ,if can get the promotional vehicle to the track. LMAO

Just my 2 cents and not to take away from your trading. Mentioned above about Visa and this is how I feel about the using cash deal. Too many people go into a little and sometimes big stores and make a purchase with plastic. Automatically the store is losing money on the transaction due to fees. If large store with stock and I have some, the effect is then on me as I am now losing money. If Mom & Pop store in small town, then they suffer from the small purchases. Just think about "who" it affects the most when you buy next time. Me, I support the small business owner the most, as I feel this is the major part of our "Great USA".

Lot of truth in that. I always give my waitress/waiter very good tips when using my card to help with the premium the restaurant pays for accepting the cards. Amex is the worst of them all with their fees!

I do try to use my Amazon credit card as much as I can though since I get points to use in Amazon and one way or another I have to pay the bill. I did learn a few years ago to simply have $100 a month transferred from my checking account to my credit card. This way if I forget to pay the bill before it's due, I never get charged interest. There have been times that I actually had a credit on my credit card! I REFUSE to pay those clowns interest!

I always tip[ waitress cash.How they report it is up to them. I use cash as much as possible.Being self employed keeping money on hand is better than bank account. I have debit card for online stuff and rather not have bunch sitting there for someone to steal,plus large amounts thru account not best thing.