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  • Anyone have any experience in Penny Stocks?


    Glitch
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    I want to start to trade but cant find any good brokers. Any ideas?

    Yes.

     

    Research emerging companies who could have a large impact on the world in the future.

     

    Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade)

     

    Wait for said emerging company to fix the world

     

    When your 4000 shares rise to $20 a share, profit

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    Yes.

     

    Research emerging companies who could have a large impact on the world in the future.

     

    Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade)

     

    Wait for said emerging company to fix the world

     

    When your 4000 shares rise to $20 a share, profit

    Well this couldnt possible go wrong!

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    Yes.

     

    Research emerging companies who could have a large impact on the world in the future.

     

    Buy a whole bunch of stocks ($1k+, usually $5-$10 a trade)

     

    Wait for said emerging company to fix the world

     

    When your 4000 shares rise to $20 a share, profit

     

    I have ideas, I just need to find a good place to trade.

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    Penny stocks are basically a gamble. I would recommend learning to invest properly for 5-10% per year after inflation.

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    I spent a lot of time researching penny stocks awhile ago as I wanted to get into trading due to the potential profits. The fact is unless you have $10k+ to invest (and I mean literally invest it all, not like a couple hundred dollars here and there) you're not going to make any money due to extremely small profit margins and the ridiculous laws they have to kill small penny stock traders. I forget what the rule was, and the specifics, but it basically stated that penny stock traders who made over a certain amount of traders per week (like 5 or something) got HUGE penalties unless they had a shitload of money invested or something like that.

     

    tl;dr don't waste your time like I did.

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    I spent a lot of time researching penny stocks awhile ago as I wanted to get into trading due to the potential profits. The fact is unless you have $10k+ to invest (and I mean literally invest it all, not like a couple hundred dollars here and there) you're not going to make any money due to extremely small profit margins and the ridiculous laws they have to kill small penny stock traders. I forget what the rule was, and the specifics, but it basically stated that penny stock traders who made over a certain amount of traders per week (like 5 or something) got HUGE penalties unless they had a shitload of money invested or something like that.

     

    tl;dr don't waste your time like I did.

     

    The only way to make serious money with penny stocks/socks in general is long term holding. The taxes you pay on short term gains make it extremely hard to profit.

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    Honestly I agree with @Vlad. Penny Stocks are a complete gamble and ultimately are not a wise gamble. In life there is no such thing as quick money. Invest smart, spend wisely, and watch your money grow all the way into retirement. I took a Dave Ramsey economic course and it's one of the best decisions I've ever made financially. I'm 20 years old and in college and already have all the pieces in place to live on my own. Be smart with your money and you'll go far. My last piece of advice... One on the biggest rumors ever is that you need to build credit. We live in a society where people like to live above their means, but I've only ever had a debit card and cash it has and never will hold me back. Never owe anyone anything. Feel free to PM me or Skype me to talk about this in greater detail :)

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