Scottrade and Sub-penny Stocks

[347Mike]

1. Buy penny stock.
2. Make it rain.

Pretty much!

[Broncojohnny]

1. Buy penny stock.
2. Make it rain.

This man gets it.

Penny stocks are fun, I love the hype that you get to read about.

[347Mike]

I am glad everyone finds it so humorous. If there is money to be made, you go about it in a responsible way, and everyones goal is to make money, what is the problem? The stock I listed is obviously bouncing with consistency so why not risk a few hundred dollars and possibly make double or triple your money? I never said I wanted to get rich and retire on penny stocks, just a small risk with potentially high rewards. I think my question was legit.

[slow99]

Hey, I'm not looking for any kind of crazy returns. I'm only trying to get 116.9% annually.

[slow99]

This man gets it.

Penny stocks are fun, I love the hype that you get to read about.

I've actually had people ask me to look over the financial statements of a penny stock company before. Lmao, if you can find them, they look like a third grader (or texasdevildog) put them together.

[Broncojohnny]

I am glad everyone finds it so humorous. If there is money to be made, you go about it in a responsible way, and everyones goal is to make money, what is the problem? The stock I listed is obviously bouncing with consistency so why not risk a few hundred dollars and possibly make double or triple your money? I never said I wanted to get rich and retire on penny stocks, just a small risk with potentially high rewards. I think my question was legit.

Nothing is wrong with it. I wasn't saying there is anything wrong with doing what you enjoy. I was just saying that I feel like you get better results from well educated or well executed investing, that is all. Well executed meaning a system based on some sort of formula calculating risk vs. return (this is not how I go about it). I think anyone who plays the market long enough eventually arrives at that conclusion and probably also arrives at whatever system may be right for them. My system being a contrarian-flavored value approach (pray for a meltdown then buy up the good shit lol).

[Broncojohnny]

I've actually had people ask me to look over the financial statements of a penny stock company before. Lmao, if you can find them, they look like a third grader (or texasdevildog) put them together.

I burst out laughing on this one.

One of my ex coworkers starts IMing me from Miami today about this Chinese shoe company, EDS is the ticker. He says a local buddy of his knows someone running a hedge fund down there and they have sent a guy to China just this week to see if the whole operation is legit and peform a little due diligence. It was entertaining, I didn't know what to think of it, the company could really be an ice cream stand on a corner over there, I told him to go off in it balls deep.

[347Mike]

Hey, I'm not looking for any kind of crazy returns. I'm only trying to get 116.9% annually.

That's great, really. I can see why you two find it laughable with your experience but different things work for different people. That comment was sincere by the way. It is trial and error if you ask me (unless you have the education you have) and if you stumble across something that works regardless of price than who cares. Trading is about making money, doesn't matter the price, if it is long, short or pure luck.

You guys will probably laugh in disbelief, and that is fine, but I have a coworker who is an older gentleman and is up 2000% in five or so years. The majority of his picks are under a $1.50. The average gain is 30% per trade.

I am not trying to start a pissing match because I appreciate your advice but to simply shrug and laugh at something that is potentially profitable is silly, especially when everyones goal is to make money.

[slow99]

I burst out laughing on this one.

One of my ex coworkers starts IMing me from Miami today about this Chinese shoe company, EDS is the ticker. He says a local buddy of his knows someone running a hedge fund down there and they have sent a guy to China just this week to see if the whole operation is legit and peform a little due diligence. It was entertaining, I didn't know what to think of it, the company could really be an ice cream stand on a corner over there, I told him to go off in it balls deep.

I can imagine. We're vetting right now on a Chinese company that's an investment banking deal. Jesus, that shit is so shady it's laughable. To top it off, they're actually a candidate to trade on the American exchanges as an ADR. I mean, unbelievable shit... and this is a "legit" Chinese company.

[slow99]

That's great, really. I can see why you two find it laughable with your experience but different things work for different people. That comment was sincere by the way. It is trial and error if you ask me (unless you have the education you have) and if you stumble across something that works regardless of price than who cares. Trading is about making money, doesn't matter the price, if it is long, short or pure luck.

You guys will probably laugh in disbelief, and that is fine, but I have a coworker who is an older gentleman and is up 2000% in five or so years. The majority of his picks are under a $1.50. The average gain is 30% per trade.

I am not trying to start a pissing match because I appreciate your advice but to simply shrug and laugh at something that is potentially profitable is silly, especially when everyones goal is to make money.

I'm not shrugging and laughing. However, that percentage return I posted is the annualized return of what you're shooting to earn. You certainly seem to understand that penny stocks are incredibly risky, and that's fine. Go for it, I hope one hits for you.

That return of your co-worker is unquestionably earned by taking on indescribable amounts of risk. Is it possible in the short-term...sure...but it will blow up at some point. Money managers are evaluated on risk-adjusted returns, not just a nominal return percentage.

*Penny stocks inherently involve tons of risk. No investor should consider investing in them without full-knowledge of the risk involved.

The only reason I *have* to come in here and post things like is because it's true. Hell, I've thrown some money at a penny stock or two before! There's nothing wrong with that, IF an investor understands that risk.

I'm pretty sure you have an idea of my profession. Best practice is to divulge risk if I post in threads like this one.

[347Mike]

I'm not shrugging and laughing. However, that percentage return I posted is the annualized return of what you're shooting to earn. You certainly seem to understand that penny stocks are incredibly risky, and that's fine. Go for it, I hope one hits for you.

That return of your co-worker is unquestionably earned by taking on indescribable amounts of risk. Is it possible in the short-term...sure...but it will blow up at some point. Money managers are evaluated on risk-adjusted returns, not just a nominal return percentage.

*Penny stocks inherently involve tons of risk. No investor should consider investing in them without full-knowledge of the risk involved.

The only reason I *have* to come in here and post things like is because it's true. Hell, I've thrown some money at a penny stock or two before! There's nothing wrong with that, IF an investor understands that risk.

I'm pretty sure you have an idea of my profession, education, and Charter. I am bound by an ethics code that's over 200 pages thick, 24 hours a day. If I post on this message board, it would be very questionable for me to see a thread about investing in penny stocks and not comment on the risk involved. People have lost their Charters over similar events. That's why I post in here on things like this... have at it, but a post could very possibly lead an uneducated investor to do something they should not be doing. I've seen numerous threads in the back porch where someone says they want risk-free investment advice and someone will post up an extremely questionable investment. None of you guys have to worry about this stuff, I do. Please don't take offense...I enjoy discussing this as much as any person.

I just now got what you meant by the 116%. I was caught off guard when you remembered where I set my bar. That is only a goal though, shoot high, and hope to get close. I am no where near my target where I should be right now. I didn't realize how much reading and studying I have to do to make a sound choice. Add work and life in the mix and I don't have time to trade as much as I thought. I am positive though and that is all that matters.

[slow99]

I didn't realize how much reading and studying I have to do to make a sound choice. Add work and life in the mix and I don't have time to trade as much as I thought.

I worked from 4:30 AM 'til midnight yesterday and had to be back at 5 AM this morning to blast research. I've been hitting 8 hours a day of study time on Saturdays and Sundays while trying to squeeze in "wife-time" somewhere in all of this. Needless to say, I'm ready for June 4th at 5PM.

[347Mike]

I worked from 4:30 AM 'til midnight yesterday and had to be back at 5 AM this morning to blast research. I've been hitting 8 hours a day of study time on Saturdays and Sundays while trying to squeeze in "wife-time" somewhere in all of this. Needless to say, I'm ready for June 4th at 5PM.

You get paid for it, I am still in R&D stages... lol

[slow99]

You get paid for it, I am still in R&D stages... lol

Fair point. Where the fuck are these "banker's hours" I've heard about, lmao.

[347Mike]

Fair point. Where the fuck are these "banker's hours" I've heard about, lmao.

I am sure it is at a cost though.

I find it ironic that I am watching this day trading video and they are talking about China companies... lol

What software do day traders use? I wouldn't think there are any free trial version are there?