Seriously, don't expect to because a millionaire by trading penny stocks. You never hear about the countless others that CNN and others didn't cover in their article who lost plenty of money buying penny stocks. Of course, you could always get lucky, but with that logic, you might as well just buy a lottery ticket. Given the amount of time you will spend trying to figure out penny stocks, you could be making money on real stocks that are backed up by credible data.
Regular stocks are a much better bet than penny stocks because as you said people stand to lose everything they have made with these kinds of stocks. Invest in well respected companies when they are down and keep holding on to them when they are on the up and up. And as for the millions of dollars these people made off of the penny stocks many have gotten into trouble by manipulating the market by spamming message boards telling them that the stocks are going to jump in value. Which in turn actually makes them jump as people buy them.
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With regular stocks there is no way you have a slim chance in winning money. I just don't want penny stocks since you have to have luck in order to score big.
Penny stocks are too annoying to be profitable. You can score big, but your chances are slim to none. Regular stocks win out in virtually every way possible. The more expensive "penny" stocks are sometimes worth holding onto, but you have to micromanage and make sure those companies aren't going under or losing value quickly. I'd rather deal with the more valuable hassles of owning actual stocks that might be worth far more later on.
What sites do you recommend in investing into dividend stocks? Penny stocks are like the lottery you could invest your money but you have a slim chance in winning the money. Regular stocks are a greater way of making income since you can get money regardless of how much you invest.
Yup, it's definitely good to keep in mind that they are a risky investment. But you have to roll the dice for the chance to win big. If you do your research and just don't go in blind then you should be ok. I limit myself to a hundred bucks investment at a time and it never fails me. I guess I've just gotten lucky.
Point noted down, plus what i saw on Wolf of Wall Street...in the same regard...that is one path to avoid.
The true value of a penny stock is exactly what it seems: near 0. Some websites expose and comment the pump-and-dump schemes. As it appears at least a couple are launched every single day.
When most of the investors say that investing is always a numbers game it isn't true with penny stocks. It is just about luck. You can't know which share is going to rise off the charts unless you are in the inner circles.
