are any of you involved in penny stocks?
something i'm interested in doing.
i'm looking for books to read
does biz recommend any?
I was strongly considering BCEKF at 45 cents. Its 2.00 now and I try not to hate myself
>>1203594
any reading material recommendations for shitters like my self?
ASTI representing
>>1203642
ASTI reporting in
>>1203588
Told /biz/ a couple months ago to invest in PACB. They didn't listen and it went from like $3 to above $10 and has settled around $8. You'd have to have been a dumb nigger not to do good on this one.
But, /biz/ would rather trade meme stocks like Turtle Beach.
Any advice for beginners?
>>1203690
Penny stock noob here, what makes you think ASTI will rise and what's your target?
>>1203588
Jump in with what ever you can truly not care about losing. I would suggest the minimum balance for an account at a brokerage that doesn't fuck penny traders in the ass. That is the /only/ way to learn. You can spend hours reading, but all that knowledge literally goes out the window when you start throwing your money around. That, and anyone who writes a book on penny stock trading to make money obviously sucks at doing it, or they would have kept trading and not written the book (opportunity cost, increasing competition).
That's just my "formally-uneducated" opinion. I did exactly above and had success since 2013. My risk profile has changed and I no longer do it though.
>>1203588
I basically look at it as losing the money from the start.
CLBS and NETE here, down about $6 so far but that's nothing.
>>1204727
choicetrade used to be my penny trades broker. havent looked at their fees in a while, closed my account after "winning" like 450 and "losing" 500. yeah im done with them.
>>1204742
I don't fuck with any brokers located outside the US.
I personally use scottrade. By no means are they favorable to high share volume traders... BUT I know they won't fuck me over.
Sometimes I pay $100 total commission on a trade (total on buy/sell transactions), it's worth it. That's probably near the upper bound on the range. Average commission on my penny trades was probably a total of $35 (17.5 in and out) at moderate volumes - $5k at a time perhaps.
>>1204772
> I pay $100 total commission on a trade
just pennies, or options? seems quite high for pennies
Just don't get greedy.
I dabbled in one stock and ate up the to-the-moon.jpg shit. I was $8,000 in the green and held out for one more rally.
It never came and I lost it all.
>>1204777
Just pennies.
For stocks under a certain dolor amount they charge a certain fraction of a percent of the principal or something. It adds up when you through "a lot" of money around.
"For stocks priced under $1, add ½% of the principal value to the commissions shown."
>>1204798
throw*
absolutely, CHGG. Their Q3 was misinterpreted by dumbfuck investors, it shows significant growth and is currently undervalued
>>1204727
thanks for the response m8.
I was also skeptical on buying books
especially skeptical on ppl like Timothy Sykes n shit.
>>1204850
https://ca.finance.yahoo.com/q?s=CHGG
Interesting anon, very interesting indeed.
>>1204707
Its calculated gambling, you're gonna take a lot of losses and pay lots of taxes as parts of your gains.
You need to git gud at stocks before you git gud at penny stocks
>>1204888
>taxes
Tax Free Savings Accounts FTW!!
No capital gains for me (as long as the stocks/equities are traded on a CRA certified exchange).
Thank you former PM Stephen Harper.
>>1204718
ot doubles every earnings and then drops back down
Where can I learn about this if I have no stock market experience
Can you get rich with Penny stocks?
> put $100 in a likely thing
> Double
> Put $100 back in savings
> Take that extra $100 and do risky shit
Shit seems so easy. A stock goes from .05 to $1 that's literally a 20x your money. I don't fucking get it. Or buy a .05 stock and if it Dips just wait. Someone seriously explain why everyone isn't rich.
>>1206195
This is how gambling addictions start.
>>1206202
I've only been trolling this board for 2 weeks, but I've been reading dozens on articles and how tos, and got money in Robin Hood. But seriously, it seems so god damn easy. Literally double any money overnight. If it Dips you just wait it out, it'll surely recover someday. Am I fucking missing something here?
>>1206207
>it'll surely recover some day
What if that's six years from now and you bet more than you could really float because "it's so god damn easy"
Or maybe it really doesn't come back
It sounds like you're operating under the assumption that there is no risk in stocks. Where did you get that idea?
>>1206195
I wish it was this simple.
Problem is, penny stocks aren't guaranteed to go up just because they are penny stocks. You can still lose your money and not get it back if you buy a bit too high.
>>1206226
It's not like they could go down much, and you have the opportunity to go from .05 to $10. Possibility of 200x increase with only 1x loss. It's BEAUTIFUL. I've gone from 0-100% into this.
>>1206221
If you're using small amounts that are insignificant then who cares if you wait 6 years?? Better than a fucking savings at .015%!!
>>1206233
Whatever man, give it a go.
I'm not going to pretend that I haven't made money off of trading penny stocks, but be careful. You think it's foolproof but just wait till you're looking at your portfolio one day and a huge chunk of your investment is missing and you're wondering how to get out of this dead end stock with minimal loss.
and that WILL happen at some point.
>>1206237
If it down, can't you just wait for it to go up? If you buy low, what are the odds that it'll go further down FOREVER?
>>1206248
Penny stocks are usually start up businesses, hence their price.
Think about it like this, if a stock is 0.05 cents a share, then it only takes a loss of 0.05 cents until you lose absolutely everything.
and being startup companies, the chances of them being successful are pretty low.
>>1206248
>If you buy low, what are the odds that it'll go further down FOREVER?
Bankruptcy is a thing, you know. Chapter 11 can be ok (especially if you didn't spend much on the stocks), but if they go chapter 7, you're fucked.
Plus, penny stocks tend to do reverse splits if they can't turn things around, which slowly deteriorates your position. Check out FREE to see an example of this. They've had like 3 reverse splits in the last couple years, and each one would significantly lower your asset value (because in the reverse split, the stocks are consolidated, essentially to allow them to fall further).
>>1206265
>I mean if you do the smallest bit of research
OTC (Penny Stocks, etc) doesn't have the protection of required open filings that you get with NYSE, NASDAQ, etc. In many instances, you can't even research because they don't file anything. If you are lucky, you may find some information, but it probably will be outdated or potentially misleading. DESU - there is overwhelming speculation on penny stocks and trusting people on forums without actually doing the homework is just that - speculation.
A good analogy is sports betting. There is a reason a bad team has higher pay-out ratios on a game than a bad one. Less chance of success as determined by the house.
>everyone is excited
So was everyone in the run up to the dot-com bust.
>and you sell early
Good luck on that crystal ball.
>not worry about missing out on the big money
You should always worry about missing out on money - especially your principal if it can be helped.
don't bother with "fundamentals" when trading penny stocks. at the end I will link a really great video from a past DEFCON conference that talked about building an algo that would scan thousands of spam emails about penny stocks and make picks based on a few metrics. remember: fundamentals have no place in penny stock investing. you have to look and see what company is "pumping" said penny stock and how successful they have been in the past. any penny stock purchase is a trade, NOT a long term investment. good luck.
https://www.youtube.com/watch?v=f8aRpYq1yRY
>>1206324
interesting video.
thanks m8.
>>1206312
Yeah my uncle convinced everyone to invest $2000 into this fucking pizza company I couldn't find any info on when I was around 14.... Two years later he shut down the operations and all I found was some article about child labor and bankruptcy.
>>1206312
Where can I find these forums?
>>1206233
Well sure but now you're just meaninglessly playing with numbers.
>Hang on, hang on, if I have 100... and I hit x on the calculator and then 1.5 and then = ... Holy shit that's 150
>What about 100 x 1.8... Holy shit that's 180
>Now what about 100 x 20... Oh my god that's 2000
>Man I'm such a good investor
>>1208396
You're just salty because you didn't think of it first
>>1206195
there is no "likely thing" that will double your money. reward=risk
>>1206207
you have no idea how businesses work...
how do you guys choose your stocks?
how do you determine which one is a good one to buy?
>>1204772
>Sometimes I pay $100 total commission on a trade
Wow, you're getting taken.
I never spend more than $15 round trip, and I trade up to $250,000 per.
>>1203588
Are you fucking stupid? All of you really. What is with the retarded perception that penny stocks for some reason are a way for you to make big money. Is it because you feel like you can't afford shares of actual reputable companies??? The share price doesn't affect your potential to gain, at the end of the day it's really all down to percentages.
The fact that you buy a stock for .3798098 cents doesn't in ANY way shape or form guarantee that it has to go up any time soon. You might be holding onto it for a while even if it does. There's also no guarantee that it won't go down either. I feel like a common misconception is that penny stocks "surely can only go up! it's worth 38 cents now, if I wait a few months it MUST be worth dollar by then!". Assuming you went with this logic and invested a 100 dollars you MIGHT get lucky and catch a break on the right penny stock, and sure you'd make 200% gains in that instance. Or you could take the same 100 dollars and try to make a decent 5-10% gain on a consistent basis. The fact that your penny stock has the potential to rise a lot doesn't mean that it has to.
I feel like you'd all have better success if you'd invest in better companies instead of gambling on penny stocks. Even when you win you aren't likely learning anything that can be duplicated.
>>1210794
>The share price doesn't affect your potential to gain, at the end of the day it's really all down to percentages.
yes and the percentage can increase much more significantly on a 2 cent stock than a $500 one
>>1206207
Making money is easy, keeping it is hard.
>>1210800
>Not even reading what I said
The fact that a stock is worth 29 cents doesn't mean that for it to move it has to go in one cent increments. The movement on penny stocks goes in fractions of cents.
If a stock is going to make a big move up it's not going to be because of the price, it's going to be because of the company itself. Even investing in a 4-5 dollar share is smarter.
The reality is that there's probably a reason why those stocks are so cheap. Their ability to increase is really no different from any other stock or ETF. All market manipulation mumbo-jumbo illuminati bullshit aside the price of the stock is going to reflect the value of the company. Invest in good companies and your money will grow over time. This is fucking basic shit. Like I said, even if you do manage to double your 200 dollars on some random fucking meme stock that some autist comes and shills on here it doesn't teach you anything and you're not going to be able to repeat your success. You will find astronomically more stories about people losing everything on penny stocks than you will success stories, and when you do find one it's usually just luck.
>>1210870
>You will find astronomically more stories about people losing everything on penny stocks than you will success stories
Actually, it's the other way around.
But only because people are such fucking liars, and misery loves company.
>>1211059
This. Nobody wants to brag about their sekrit source of money making magic. Failure however leads you to vent online and deter others lest they succeed where you didn't.
