Posted under Smallcap Stock News by admin, 5 Comments
15 Dec
Hey, I am turning 23 on Monday (October 26) Last week I made a goal to invest in my first stock,currency, bond what ever! by the age of 23. So i'd have to do that Saturday (Tomorrow) Does anyone have any suggestions? I haven't Read anything! I mean I haven't researched any companies or anything! I have 0 that i'm willing to invest, i'd like to do penny stock, that'd be my best bet right? cause if it went up a couple penny's than i'd like double or tripple my money right?
So, can some one tell me- How to find good penny stock. And how to research the companies, Maybe what to look for etc..? Remember i'm going to be doing everything in 1 day.
thank you very much! any advice will be appreciated.
also may God bless your life!
Chosen Answer:
When you invest/trade in penny stock you should never put up more than you can afford to loose and you should assume you will loose it all. Unlike regular securities, penny stocks usually do not let you use risk cutting procedures (options and/or stop orders) since most are not traded in a regulated market place.
They say when you buy securities you have a 50%-50% chance of making money, when you buy penny stocks you have a 50-50-90% chance, 50-50 chance of making money and a 90% chance of loosing money.
When buying penny stocks, like any other security investment, you never invest 100% of you investing capital. Penny stocks are fun to trade, but you should never count on them to be considered part of your primary investment objectives.
All that said, here are some websites that you will find helpful
http://www.smallcapinvestor.com/
http://www.stockwire.com/
http://alphaking.com/
http://www.otcstockexchange.com/
http://www.mcapstocks.com/Default.asp
http://www.pinksheets.com/pink/quote/index.jsp
http://ragingbull.quote.com/cgi-bin/static.cgi/a=index.txt&d=mainpages
http://www.swingtrades.com/
http://www.thehotpennystocks.com/stock-picks/
From a person with 45+ years in the business, PLEASE reconsider investing in pennystocks they are not a quick way to get rich.
by: The Old Guy
on: 30th October 09
im doing penny stocks at this time too, im 18, have been watching the stock market for last 5 years, have made a profit, but it is a volatile market right now and can be easy to lose it all now, do you have a broker, if not find one without a minimum to open it since you want to start with only $100, i use scottrade.com they ask for $500 but if you dont expect to do this long term then try to look for on on google by typeing online brokers, if you decide you want scottrade.com deposit your $100 and try to put the rest in a month or two, should talk to scottrade see if thats ok, also you will need to go to a local branch for a penny stock trade with cash since you have such little time, so i would go to a scottrade or actual branch look it up most likely theres one near you, if you choose it use my ref code for 3 free trades, it will give you more to actualy trade with:VNQP7030
hope this can help if you need more help come to stockgoodies.com and leave me a personal message im Goodies4monkeys
will be praying that all goes well, for money is not the root of all evil but the LOVE of money is, lets stay away from that part of money
im looking at RNWB, but its your money so you do your research on OTC market for pennys
Source(s):
stockgoodies.com moderator Goodies4monkeys
scottrade.com trader 3 free trades (no trade fees) code:VNQP7030
indian banks . nationalised bank shares is good @ rate 50 rs
Penny stocks are a good way to lose your entire investment, fast. A large proportion of penny stocks are promoted via spam emails by the people who hold the majority of the shares after having bought the shares for next to nothing; when they have exhausted the market for the shares, the price collapses and they move on to their next fraud.
Virtually all legit companies such as MSFT and GOOG did not start out as penny stocks. They almost always IPO at prices well above $1 and stay there. Unless of course they go bankrupt and become penny stocks, in which case you probably won’t want to be holding them anyway.
When you invest/trade in penny stock you should never put up more than you can afford to loose and you should assume you will loose it all. Unlike regular securities, penny stocks usually do not let you use risk cutting procedures (options and/or stop orders) since most are not traded in a regulated market place.
They say when you buy securities you have a 50%-50% chance of making money, when you buy penny stocks you have a 50-50-90% chance, 50-50 chance of making money and a 90% chance of loosing money.
When buying penny stocks, like any other security investment, you never invest 100% of you investing capital. Penny stocks are fun to trade, but you should never count on them to be considered part of your primary investment objectives.
All that said, here are some websites that you will find helpful
http://www.smallcapinvestor.com/
http://www.stockwire.com/
http://alphaking.com/
http://www.otcstockexchange.com/
http://www.mcapstocks.com/Default.asp
http://www.pinksheets.com/pink/quote/index.jsp
http://ragingbull.quote.com/cgi-bin/static.cgi/a=index.txt&d=mainpages
http://www.swingtrades.com/
http://www.thehotpennystocks.com/stock-picks/
From a person with 45+ years in the business, PLEASE reconsider investing in pennystocks they are not a quick way to get rich.
I think “the old guy” gave you some very sound advice.
Before you invest in any security, the first investment you should make is in yourself, and the best investment you can make is by educating yourself.
Start your education by learning why you should invest and the importance of being able to make your own decisions or how the pro’s make theirs.
Here is some reading material that can get you started in the right direction,
The first book you should read is Rich Dad Poor Dad by Robert Kiyosaki
Then try some of these
What Works on Wall Street by James O’Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
The Warren Buffett Way by Robert Hagstrom
Trading For a Living by Alexander Elder
Mastering the Trade” by John Caster
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Disciplined Trader by Mark Douglas
Get into the habit of making daily visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )
While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it.
Other website that can provide instructions and help with procedures and terminology are
Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/
http://www.investorshub.com/ http://www.1source4stocks.com/
Visit some of the more professional websites like Zacks – http://www.zacks.com/
Smart Money – http://www.smartmoney.com/ Schaeffer’s – http://www.schaeffersresearch.com/
Some of these web sites will have advertisers who are worth looking into also. And remember, if they offer free information, get it.
Attend all the free seminars you can, just be careful and don’t get pressured into anything you really don’t want or need. Most schools offer courses in finance and economics, but very few will have courses on the mechanics of the investment markets, if they do try taking the course. You may want to consider on-line courses, the New York Institute of Finance use to have such courses. Try to get some fee information from the stocks exchanges they all have (had) free booklets, SIAC and some of the regulators (FINRA SEC MSRB CBOE) may provide some free literature.
You at least have made the right decision to start investing, this is the first big step and it won’t be your last. Keep taking those steps forward and along the way never take the advice from people that are not in the market or try to tell you not to invest.