I'm afraid I'm not very fond of this way of thinking... because of possible losses as well. And to make that 100% or 200% actually be worthwhile, you'd have to put a rather high amount of money in penny stocks. I don't even consider it "high risk investing" although it's extremely high... I consider it more of a hobby than true investing and would never *solely* buy into penny stocks... some sure, but never a lot. Uh... wouldn't you have to have inside information to make 100 or 200% in half a day's trading? You'd have no clue which rare penny stock may take off on that particular day.
I don't know if I believe that. Penny stocks can easily tank. If you have bet on 250, you have definitely lost. Or do you have inside info on these penny stocks? Ha You are probably new to investing.
There arent really when you just consider the fact that penny stocks are a horrible choice to make your investments. However, if you are still contempt with doing so, a local broker may be your best option as oppose to free marketed websites.
Penny stocks are really a game of luck. The stock can go from 5 to 500 or from 5 to a penny. Really, it's not a safe market at all. I wouldn't get into it if you are trying to get easy money.
So in other words, ap4aaron, take it for what it is and do it for fun. The people I know that have been doing penny stocks have either been incredibly lucky and made a couple of bucks from it - or taken it as a fun, limited hobby because they're so unstable.
I agree with ap4aaron Penny stocks are a game of luck. You have the stocks going from high to low and you cannot anticipate whether the number is going up or down again. Not to mention you never know what intentions some people may have. You have to hope that dump-and-pump would not happen. There is a lack of stability that halts you from wanting to make safe investments.
When I traded penny stocks I used the major stock brokers for instance Scottrade. In addition, there are plenty of smaller brokers focused in only penny stocks but I wouldn't recommend using them since there is always a risk of someone scamming your money off.
I've also been scammed by these penny stocks and I hate it. Good think I didn't invest too much. I was just a fool to believe in such. Grr.
I can relate to your incident, and unfortunately had to learn it the hard way, lol. Well, I don't really want to imply I lost everything by saying "the hard way", but I kind of lost my time. Fishy stuff happens, too, but I find that this can be regulated. Or at least that was my conclusion.
As for advice, with all honesty; there is no kind of 'safe' or 'for sure' online penny auctions. Most of the penny stock and penny biding places are scams. They require you to recruit members for bonuses and different kinds of advantages on they pyramid. You won't actually be making money, but the company and people above you will. Most likely you'll spend more money starting up than you'll actually receive from those websites. I guess if you want 'legitimacy' or 'real' penny stocks, you'd have to do it in real life or go through an extremely established company but even then, they might have hidden fees or rules. Good Luck my friend.
