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  • Looking for people willing to get into day trading (mainly penny stocks)


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    I've always wanted to get into day trading but never found the time. Last week I decided to spend a few hours monitoring some penny stocks and I feel as though I'm starting to get the hang of it, albeit I've never actually invested any money into it. Next week I'd like to start trading for real. I have a few grand I'm willing to invest, but I'm looking for other people willing to take this journey with me. Not only would it prove to be motivational if everyone is collaborating, but we may be able to benefit from each other if we're all monitoring different stocks. We could also create daily logs and post them on sites (maybe this one as well?) as a way to track and share our progress.

     

    Also, don't tell me to just go to Timothy Sykes's website and spend hundreds of dollars on some bullshit videos and tutorials. The guy could be completely legit, but with the amount of advertising he does to purchase his "get rich quick methods" all I see are red flags.

     

    If anyone's interested post below, PM me, send me a Skype message, etc. Hopefully we can get a few people together and create a Skype group where we can all collaborate.

     

    My Skype: OSSwizzbeat (do NOT add me without sending me a message stating you're interested in daytrading, as anyone that does not do this will be blocked)

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    I've always wanted to get into day trading but never found the time. Last week I decided to spend a few hours monitoring some penny stocks and I feel as though I'm starting to get the hang of it, albeit I've never actually invested any money into it. Next week I'd like to start trading for real. I have a few grand I'm willing to invest, but I'm looking for other people willing to take this journey with me. Not only would it prove to be motivational if everyone is collaborating, but we may be able to benefit from each other if we're all monitoring different stocks. We could also create daily logs and post them on sites (maybe this one as well?) as a way to track and share our progress.

     

    Also, don't tell me to just go to Timothy Sykes's website and spend hundreds of dollars on some bullshit videos and tutorials. The guy could be completely legit, but with the amount of advertising he does to purchase his "get rich quick methods" all I see are red flags.

     

    If anyone's interested post below, PM me, send me a Skype message, etc. Hopefully we can get a few people together and create a Skype group where we can all collaborate.

     

    My Skype: OSSwizzbeat (do NOT add me without sending me a message stating you're interested in daytrading, as anyone that does not do this will be blocked)

     

    I mainly do long term investing as the price per trade vs. profit is almost always larger. You need to be on your toes with penny stocks. But that being said, I also see it as an opportunity. My method of trading these consists of company research + long term. Hell, If I can buy 10,000 stocks at 10 cents each, that's quite a profit if the company turns out to be worth $5 a stock in 20 years.

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    I mainly do long term investing as the price per trade vs. profit is almost always larger. You need to be on your toes with penny stocks. But that being said, I also see it as an opportunity. My method of trading these consists of company research + long term. Hell, If I can buy 10,000 stocks at 10 cents each, that's quite a profit if the company turns out to be worth $5 a stock in 20 years.

    I'm more interested in short term investing (literally 30 minutes or so) than holding onto stock for years. I feel as though long term should just be bought with spare money you have sitting in your bank account, anything that's better than a poor 1% interest rate or whatever your bank offers.

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    I'm more interested in short term investing (literally 30 minutes or so) than holding onto stock for years. I feel as though long term should just be bought with spare money you have sitting in your bank account, anything that's better than a poor 1% interest rate or whatever your bank offers.

    1% is a joke. Try 0.05% lel

     

    Short terms investing on penny stocks is literally a gamble. You're better off at the roulette wheel

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    If I were you, I honestly wouldn't even try day trading penny stocks for a ton of reasons:

     

    1) Penny stocks have very low market cap, with next to no profit

    2) You have to trade with pink sheets since no real stock exchange will trade them

    3) Once it goes up, you'll put your sell offer in and it could just sit there, without any buy offers (who's going to put a buy offer on a penny stock that's going up anyways)

     

    If you want to invest smart, look into some index funds, like VFINX:

     

    (5 year)

    e46663667b663a6d7981033634ab6a85.png

     

    Obviously this isn't any fast paced trading that you're looking for, but it's a much smarter choice :)

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    If I were you, I honestly wouldn't even try day trading penny stocks for a ton of reasons:

     

    1) Penny stocks have very low market cap, with next to no profit

    2) You have to trade with pink sheets since no real stock exchange will trade them

    3) Once it goes up, you'll put your sell offer in and it could just sit there, without any buy offers (who's going to put a buy offer on a penny stock that's going up anyways)

     

    If you want to invest smart, look into some index funds, like VFINX:

     

    (5 year)

    e46663667b663a6d7981033634ab6a85.png

     

    Obviously this isn't any fast paced trading that you're looking for, but it's a much smarter choice :)

    I know the risks, but there can be insane profit if this is done correctly. I'll definitely post my results next week after I get into it for real.

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    I know the risks, but there can be insane profit if this is done correctly. I'll definitely post my results next week after I get into it for real.

     

    Well good luck then :) 

     

    Can someone give me a tldr;?

     

    Day trading is buying and selling stocks (and other stuff, like currencies) in one trading day.

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