Stanky's Penny Thread

Stanky Danky · Post by **Stanky Danky** » Tue 31st Aug 2010 02:36 am

I've decided to start a thread on my second favorite hobby, trading penny stocks. Growing weed is of course my favorite hobby. Trading pennies is great fun because of the big gains you can make off risking little money. They are known to make wild moves and large percentage gains within a day. Hopefully there are others on the forum who have traded pennies and can add to the thread. I'm going to tell you which stocks I'm watching and share my gains and losses resulting from my trades. I hope this thread inspires others to join in the fun of trading. I'll start with a stock I made over $1,200 on today. DMGM gained over 78% today after merger news realeased on Friday. I could have made more on this play, but sold early to protect my profit. LBSR is another stock that's been tearing up the charts the last few weeks and just wants to keep climbing higer. Some weed related stocks that I have on my watchlist are MJNA, CBIS, CMSI, and PCIO. PCIO is looking really good right now and I'm considering trading it tomorrow.

http://stockcharts.com/h-sc/ui?s=lbsr

http://stockcharts.com/h-sc/ui?s=pcio

hardboiled · Post by **hardboiled** » Tue 31st Aug 2010 06:24 am

'red, or black.'

spare the bullshit.

DanFromUk · Post by **DanFromUk** » Tue 31st Aug 2010 08:32 am

wow this seems hard to understand.

Not good with numbers. just grams and oz's

gixxer · Post by **gixxer** » Tue 31st Aug 2010 10:22 am

the only figures im good with are 36, 24, 36

Stanky Danky · Post by **Stanky Danky** » Tue 31st Aug 2010 02:18 pm

hardboiled wrote:'red, or black.'

spare the bullshit.

Hah, I guess ignorance really is bliss. With proper education and experience it's alot less of a red or black game than you think. Chart TA is a big part of trading pennies, but I guess you would already know that.

I will admit it is a bit of a gamble, but with pennies you don't have to start with more than $200 and it's way funner than just guessing red or black.

Stanky Danky · Post by **Stanky Danky** » Tue 31st Aug 2010 03:53 pm

LBSR is up over 20% this morning and refuses to stop it's monster run. Good thing I know when to choose red or black.

Dimon · Post by **Dimon** » Tue 31st Aug 2010 07:18 pm

Sod off Skanky

(just joking)

chichi · Post by **chichi** » Thu 2nd Sep 2010 01:31 am

Stank glad you are watching the numbers. It's a good thing and you could be doing worse. Stocks are good to watch always and I wish you well.

I have dabbled.

Stanky Danky · Post by **Stanky Danky** » Thu 2nd Sep 2010 01:50 am

chichi wrote:Stank glad you are watching the numbers. It's a good thing and you could be doing worse. Stocks are good to watch always and I wish you well.

I have dabbled.

Thanks man, glad there's someone else on the forum who takes an interest. Really kicking myself for taking the day off though. I missed out on a monster gain. INOL released news that they were going to market a Plavix metabolizing test and the stock went ballistic, up 3,381% on the day. Definitely looking to get in on some of that action tomorrow though.

Cisco · Post by **Cisco** » Thu 2nd Sep 2010 12:51 pm

Hey man very interesting i have liked the idea of stocks etc but never got into it due to large amounts of mullah to buy with , maybe the "penny" trading is what i should look into ? any more info ? TIA

Willjay · Post by **Willjay** » Thu 2nd Sep 2010 01:55 pm

cisco wrote:Hey man very interesting i have liked the idea of stocks etc but never got into it due to large amounts of mullah to buy with , maybe the "penny" trading is what i should look into ? any more info ? TIA

Cisco, just pretend, pick some stocks and watch them and see how you do, that is what the business professors would have you do.

Stanky Danky · Post by **Stanky Danky** » Thu 2nd Sep 2010 02:54 pm

cisco wrote:Hey man very interesting i have liked the idea of stocks etc but never got into it due to large amounts of mullah to buy with , maybe the "penny" trading is what i should look into ? any more info ? TIA

There's a bit to learn before you just jump in and start trading. I made the mistake of not educating myself on chart technical analysis and just started to trade with zero knowledge on how penny stocks trade. Needless to say I wasn't successful and lost money. There are alot of scammers in the penny stock world that you need to look out for. If you Google 'penny stocks' you'll get loads of sites promising instant riches and 10,000% gains. Alot of them are just pumping worthless stocks they own so they can dump their shares on you and walk away with money while you're stuck holding a bag of shit. You'll hear alot about these 'pump and dumpers' once you start learning about penny stocks. If you're serious about wanting to start trading I would definitely reccomend a google search for 'chart technical analysis'. There are tons of sites that will give you free information so you can easily avoid the sites that want to charge you. After you think you have a good base there I would probably just watch the market for a while and observe how stocks move on an intraday basis without risking any money. You can pretend trade during this time and learn when it's a good time to buy and sell. The most valuable thing with trading stocks is experience. Almost no one is instantly successful trading, it takes a bit of doing before you become consistent. Here's a link to an excellent forum that's a great place to learn and network with other traders.

http://www.hotstockmarket.com/forums/fo ... y.php?f=37

Stanky Danky · Post by **Stanky Danky** » Thu 2nd Sep 2010 04:17 pm

Looks like INOL decided to move the opposite direction I predicted this morning. Oh well, was still slick enough to catch it for a bounce and make a quick $239.

Pauli Wallnuts · Post by **Pauli Wallnuts** » Thu 2nd Sep 2010 04:22 pm

Stanky Danky wrote:make a quick $239.

made more than that with 3hands @the barracuda club last nite

Stanky Danky · Post by **Stanky Danky** » Thu 2nd Sep 2010 04:28 pm

Pauli Wallnuts wrote:
Stanky Danky wrote:make a quick $239.
made more than that with 3hands @the barracuda club last nite

Bet you didn't do it within 5 minutes though.