**OFFICIAL** Trading and Investing Thread- Part -II-

[Morbid_Mind]

If I were you I would open a Scottrade Acount or Zecco or something else with low commissions. Find a solid stock or a good recomendation from someone else and due research on it and then put all the money on it. Sell when you've made profit and don't get greedy. Don't take a lot of risks since you have so little. Don't divide it among stocks since buying and selling will cost you so much. Good luck and be carefuly.

Don't put all of your eggs in one basket. That's a quick way to the poor house.

I think a lot of you need to read Reminiscence of a Stock Operator and if you have read it, read it again.

[jsVR-4]

anyone have any websites/cliffs on buying/selling for beginners and where to get started?

im almost done with college and ive been paying every semester, so no loans to repay. im a waiter at a nice resteraunt and i make good $$, i also bought a house and i rent it out for more than the mortgage so i have a pretty decent flow of income comming in. i would like to just throw 500-1000 down on the market and play around, see what i can do.

thanks in advance guys! reps to all help! =)

I told someone else on here... put your $500 into a thinkorswim account. It'll be a $5 commission to buy something that you think you can hold onto long term.

Then log into their PaperMoney and paper trade with a $100,000 account. If you can't make money with a $100,000 account, you won't be able to make it with $1,000.

I have been paper trading for a couple months now and have learned as much in a couple months practicing as I have the last couple years reading books and listening to "experts." I won't put any serious money into my ThinkorSwim account until I'm making regular profits with the papertrading account.

[mcichocki]

I told someone else on here... put your $500 into a thinkorswim account. It'll be a $5 commission to buy something that you think you can hold onto long term.

Then log into their PaperMoney and paper trade with a $100,000 account. If you can't make money with a $100,000 account, you won't be able to make it with $1,000.

I have been paper trading for a couple months now and have learned as much in a couple months practicing as I have the last couple years reading books and listening to "experts." I won't put any serious money into my ThinkorSwim account until I'm making regular profits with the papertrading account.

This is not true and horrible advice.
Don't put all eggs in one basket ever, especially if your trying to learn.
DO NOT trade with $100k if you're account is going to be $5k when you really begin. WTF is the point in pretending your rich?
You'll learn nothing about position sizing. You'll have no way to keep realism in your trades, not that paper really helps emotion wise anyhow.
Either save the $500 to the side or buy maybe 5 plays that you just want to hold longer term. Be willing to lose it all.
Then use paper as though it's real, or as real as your mind will let you make it. I'll be honest. I can't paper trade...it becomes a game to me almost from the get go.
But that's me, hopefully you can keep paper semi realistic.
And to say if you can't make it with $100k you can't make it with $1k is comical. Commish and position sizing will not be anywhere near comparable between those equity levels.

[2coop]

I told someone else on here... put your $500 into a thinkorswim account. It'll be a $5 commission to buy something that you think you can hold onto long term.

Then log into their PaperMoney and paper trade with a $100,000 account. If you can't make money with a $100,000 account, you won't be able to make it with $1,000.

I have been paper trading for a couple months now and have learned as much in a couple months practicing as I have the last couple years reading books and listening to "experts." I won't put any serious money into my ThinkorSwim account until I'm making regular profits with the papertrading account.

you are most likely to be more "risky" by using a paper account that has more money than you really have....because the upside is huge you will be more likely to put all the money you have into one stock....you become more of an emotional player

i take positions in quick flips, mid/short, and long term.....my "diversification" is minimal as i dont invest in sectors I have no clue about....i would practice with 3k in a paper account...1k to each of those positions....see which one you are more likely to succeed in and stick to that with real money

[2coop]

FML......spng is going down.....time to add more again

[mcichocki]

Someone wiped their ass with SPNG. $hit soaked on the dump here.
.13-.16 is a fib ambush zone with structure support backing it. You might take a shot there though be small with position sizing if you do buy it.
I feel sorry for the noobs that went deep at .29! I bought a TINY taste at .22 support and am LOL'ing at myself for buying amist an exponential rises fallout.
See how fast that went...that's why you don't go all in on pennies. They are lotto plays.

[2coop]

Someone wiped their ass with SPNG. $hit soaked on the dump here.
.13-.16 is a fib ambush zone with structure support backing it. You might take a shot there though be small with position sizing if you do buy it.
I feel sorry for the noobs that went deep at .29! I bought a TINY taste at .22 support and am LOL'ing at myself for buying amist an exponential rises fallout.
See how fast that went...that's why you don't go all in on pennies. They are lotto plays.

haha....its expected with the shorts...it will still go up...i got out at .24 and about ready to go back in....i was expecting mid teens today....it might get lower!

[mcichocki]

haha....its expected with the shorts...it will still go up...i got out at .24 and about ready to go back in....i was expecting mid teens today....it might get lower!

That ain't shorts. That's panicked profit taking.
The likelihood of this going back to highs is VERY low. And even if it gets up there look for major supply to enter the market. There are so many trapped noobs that will ditch at the first glimmer of near break even.
As long as the volume pours in at lower prices this will continue to drop.

WEEEE Pennies for the noob loss! Damn chasers.

Added---
Wow filled gap down at .10
SOOOO bullish. LOL

[Pay_Me]

haha....its expected with the shorts...it will still go up...i got out at .24 and about ready to go back in....i was expecting mid teens today....it might get lower!

Shorting penny stocks is usually cost prohibitive.

[mcichocki]

Shorting penny stocks is usually cost prohibitive.

First you need a broker with shares to borrow.
Then you need a$$loads of marginable equity to cover your ass should you be proven wrong.

Not shorts...profit taking panic.

Whats up btw, you haven't posted much. All good with you bro?

[Pay_Me]

First you need a broker with shares to borrow.
Then you need a$$loads of marginable equity to cover your ass should you be proven wrong.

Not shorts...profit taking panic.

Whats up btw, you haven't posted much. All good with you bro?

Much better than it was. Still not in a position to trade, so just watching overall economy.

Debt paid off so feeling much lighter. Now need to build up some cushions. Then get the mental discipline of finding/developing system that works for me.

Quitting drinking is helping a lot, but damn it's hard LOL.

[Frank Drebin]

**** that stupid stock man, that's too sharp of a drop for one day.

[2coop]

That ain't shorts. That's panicked profit taking.
The likelihood of this going back to highs is VERY low. And even if it gets up there look for major supply to enter the market. There are so many trapped noobs that will ditch at the first glimmer of near break even.
As long as the volume pours in at lower prices this will continue to drop.

WEEEE Pennies for the noob loss! Damn chasers.

Added---
Wow filled gap down at .10
SOOOO bullish. LOL

currently .17

it was a given that people would profit take today....it went from subpenny to .28.....fear is for the weak.....knowing how to beat the fear is called skill! haha...i got back in at .10

great product in a company with NO debt and WILL go big...it got too big for its britches too soon....dont count it out cuz people who bought in at .007 sold at .28

[Frank Drebin]

LOL I never believed in that stock and I made out with $50 bucks. Good for you for making money on it. I was just in for the ride and ended up waking up after nights thinking "what happened?" I wanted to GTFO before the weekend anyways, just with a little more profit than $50 . Oh well, maybe I should stick to what I'm used to.

[2coop]

in all honesty i think you should have stayed in...i guess time will tell....gl in future stocks

[NY Money Mike]

When It dropped to < .10 I wanted to be in for teh LOLZ. And tried to buy 5k shares at .10, .11,.12,and finally go in at .15.

It sucks it HAS to be a limit order since it's a Penny. Either I don't know how to set a good limit or I got unlucky because I wanted in at .10. lol

[2coop]

When It dropped to < .10 I wanted to be in for teh LOLZ. And tried to buy 5k shares at .10, .11,.12,and finally go in at .15.

It sucks it HAS to be a limit order since it's a Penny. Either I don't know how to set a good limit or I got unlucky because I wanted in at .10. lol

i heard lots of people couldnt get in at .08-.10 because of big players....i am not one of those and i got in at .10 :shrugs: i just doubled my 20k and now have 40k shares

[mcichocki]

Much better than it was. Still not in a position to trade, so just watching overall economy.

Debt paid off so feeling much lighter. Now need to build up some cushions. Then get the mental discipline of finding/developing system that works for me.

Quitting drinking is helping a lot, but damn it's hard LOL.

Congrats on the debt free part for sure.
You're doing this properly...I have no doubt you'll make it when your ready.

[JingleAllTheWAY]

currently .17

it was a given that people would profit take today....it went from subpenny to .28.....fear is for the weak.....knowing how to beat the fear is called skill! haha...i got back in at .10

great product in a company with NO debt and WILL go big...it got too big for its britches too soon....dont count it out cuz people who bought in at .007 sold at .28

dont be a sucker..
its a pump & dump...
no matter what anyone is telling you. it IS a PUMP and DUMP.

[Pay_Me]

Congrats on the debt free part for sure.
You're doing this properly...I have no doubt you'll make it when your ready.

I guess when I start trading the record will say whether I did it right or not LOL

[mcichocki]

dont be a sucker..
its a pump & dump...
no matter what anyone is telling you. it IS a PUMP and DUMP.

He's not a sucker. I'd say he's part of the pump...no offense to him.
If he is he just better give me tips early on next time.

[Rupert IV]

Call me stupid, but based on the last couple of pages I got into SPNG today when she dropped to .13. Now she's at .17. Please advise when to sell. Up 26% so far and that's good enough for me.

[Morbid_Mind]

Call me stupid, but based on the last couple of pages I got into SPNG today when she dropped to .13. Now she's at .17. Please advise when to sell. Up 26% so far and that's good enough for me.

This is why you don't take tips! They always tell you what to buy and when to buy it but never when to exit the trade.

[Morbid_Mind]

i'd advise you to sell right now and get out of penny stocks. otc/pinks are the wild wild west and there is little regulation. your odds are better at a blackjack table. step into the real world and learn how to do things the right way... there aren't any shortcuts... taking tips on messageboards on otc is asking to fail.

People in general will put little effort into researching a stock; they'll blow through thousands and thousands of dollars on someone's opinion, a hot tip.

But when it comes time to purchase a car.....well, that's weeks of research, looking at all of the data, reading reports, etc... Because that's serious business, nevermind the fact you've blown twice that listening to your cousin and a rumor he got from an "insider."

[mcichocki]

i know. i don't frequent financial boards that much, if at all, but i've seen the aftermath on them of pump and dumps that leave kids having no college fund because their parents bought in on it. saw one where a pastor/church type dude invested his church's fund into a pump and dump. normally i think that if your stupid enough to do that, you deserve to lose your money... but that stuff is sick.

the majority of the people in penny stocks are no better than degenerate gamblers.

The best part is on sites where Pumps are frequent I always catch $hit for warning people. I'm a "Basher" or "mad that I didn't buy in".
Then they disappear in the smoke and never bother talking $hit to me again when the DUMP phase has finished and they are bag holders for life. LMAO
I have NO sympathy for those that have been warned and are too cocky or greedy to use logic in their assessments.

I don't bash or hate pennies...just people need to understand how they move and how to protect equity by using small position sizes. Leave the swinging for the fences to the gambler idiots.

[OTG]

He's not a sucker. I'd say he's part of the pump...no offense to him.
If he is he just better give me tips early on next time.

Haha this made me smile You know the game well now.

[mcichocki]

Haha this made me smile You know the game well now.

Sup bro...how ya been.

I didn't want to drop that out there but it had to be done. It's too obvious.
I've known this for quite some time but prefer to not blow someones spot if they don't go overboard.
I can be shut up for the right tips though. LOL

This will really make you smile if not LOL!!!

[2coop]

was called a pumper with RBY as well...i pumped at 1.00 stock....it dropped to .80...and it sits at 3.00 right now...

peace

[Morbid_Mind]

I don't bash or hate pennies...just people need to understand how they move and how to protect equity by using small position sizes. Leave the swinging for the fences to the gambler idiots.

No, I don't have any hate for pennies too. It just seems to me that a lot of people don't understand them and just get in on a whim because they're dirt cheap.

If a stock is a penny but it's a great company, you might as well pick up some shares and then check back on it in a couple years.

[mcichocki]

No, I don't have any hate for pennies too. It just seems to me that a lot of people don't understand them and just get in on a whim because they're dirt cheap.

If a stock is a penny but it's a great company, you might as well pick up some shares and then check back on it in a couple years.

If the stock is a penny it's not very likely to be a good company and IMO not likely to be a good long term investment either.
They can make people good money if you catch it early and know how to ride momentum.

JMHO