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Master Don Juan
Does anyone here routinely trade in these? I've been tracking a lot of these lately and have been thinking about jumping in. I realize that liquidity can be a problem sometimes with these, but I'm wondering how often that happens.
One thing that I've noticed is that penny stocks really MOVE... you can double, triple, or even quad your money in only a few hours, or you can lose it all, too. (I see it happen every day, the stocks are so volatile because they spike for a single session and then drop back down the next day because there is no support to sustain a real trend) The only way to handle these things is to day-trade: catch it below the spike, ride it up, and then dump it, all in a few hours. Fortunately, a lot of the technical analysis and charting methods/patterns still apply.
My current plan is to buy a lot of these things a few times a week and go for little windfalls that add up instead of going for one big win. I'm looking for a broker that doesn't charge heavy buy/sell fees or high commission b/c I don't want the middleman eating up too much of my profit. Any recommendations?
One thing that I've noticed is that penny stocks really MOVE... you can double, triple, or even quad your money in only a few hours, or you can lose it all, too. (I see it happen every day, the stocks are so volatile because they spike for a single session and then drop back down the next day because there is no support to sustain a real trend) The only way to handle these things is to day-trade: catch it below the spike, ride it up, and then dump it, all in a few hours. Fortunately, a lot of the technical analysis and charting methods/patterns still apply.
My current plan is to buy a lot of these things a few times a week and go for little windfalls that add up instead of going for one big win. I'm looking for a broker that doesn't charge heavy buy/sell fees or high commission b/c I don't want the middleman eating up too much of my profit. Any recommendations?