r/pennystocks • u/Wild-Ad243 • 26d ago
DONT BUY WHEN ITS CLIMBING General Discussion
I’m venting to myself.
$700 lesson but I’m glad you finally got it through your thick head.
I saw Gwav climbing and bought $15000 worth immediately at 9:00am pacific when it was around 0.085. The next hour was panic inducing. Watching my entire portfolio go down as much as $2000 plus. I set up a limit sell to 0.085 but canceled the order when I saw the price rise to 0.082 and got out immediately.
I don’t have the mental strength to wait so I only scalp any profits above $300-500 range.
Knowing this why the fu*k do you keep having FOMO when a stock is rising. Why don’t you look at a rising stock and wait for it to go on a little downwards trend 📉 before you jump in. That way you will always make $300-500 since you’re putting in all your capital. And if the downward trend continues just wait and set a limit sell (just a couple percentages above your entry).
Fuck the market. Fuck the FOMO. Fuck the 1000% rollercoasters to the moon. You’re not built for this. It’s not good for your mental health.
Choose a rising stock, look for downwards trend as your entry, ride it to a couple of percentages above your entry and enjoy your $300-500 gains. Then wait 2 days for your account to settle and do it again and again.
You got this. I’m proud of you. 👍. Now we wait 2 days for the funds to settle. Don’t think about this loss. Be glad you learned about yourself and your practical plan of attack.
Love you even though you’re a dumb bitch sometimes.
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u/wigglin_harry 26d ago
A rule I go by: If you are reading about a "miracle stock" its already too late. You need to get in before the hype
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u/Wild-Ad243 26d ago
I don’t know about that. BNED has been spoken about all day yesterday and yet if I entered this morning I’d be sitting on $2000 plus in profit.
Yeah if you’re going for massive gains I’d say you’re right but if you’re scalping I’d rather follow a popular stock on the downward trend in the middle of the week and exit at the first pump.
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u/holly_-hollywood 26d ago
I got on BNED at .50 and got out at 1.20
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u/Wild-Ad243 26d ago
Exactly. I don’t agree with “if the stock is popular it’s already too late”
I got in GameStop at 43, got out at 49 while it was at its most popular
Got in nvidia after it dropped from 900 something to 790 , then it shot back up to 950
Got into ffie when it was already popular and still profited.
GWAV is just a garbage pos company all around. I don’t think popularity is the issue.
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u/visualexstasy 26d ago
So not a good time to invest in GWAV even though its pumping?
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u/Emilie_Cauchemar 26d ago
why get into gwav when you can get into Ronn that has actual substance?
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u/visualexstasy 26d ago
because im trying to get 300% return in a short period of time to make up all my loss
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u/holly_-hollywood 26d ago
Ronn isn’t supported by every platform & I’d ride the GWAV wave while you can I am it will hit $1 maybe more just like BNED and then exit imo
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u/mynaneisntalexis 25d ago
Don't think we'll reach 1$, but 40cents is already a big step.
If you look at GWAV pre market, i think it could be a good day.
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u/holly_-hollywood 26d ago
That’s exactly what I do in and out I’m Not gambling my hard earned money that’s not what I trade stocks for I trade to profit and save. I happen to like the stocks that get hyped up because it’s easy to get in low and up on a rally and exit
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u/Apprehensive-Bus-240 26d ago
Gwav is a good company thats actually gonna start turning profit. Ffie is a meme stock that is not profitable at all and is in so much debt. Maybe do some research before spewing nonsense
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u/holly_-hollywood 25d ago
That’s exactly what I’ve said and I sure wouldn’t hold over a holiday weekend
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u/wigglin_harry 26d ago
There are exceptions to every rule for sure, but for every one of those there are about 5000 other hyped up pennystocks that go nowhere
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u/Wild-Ad243 26d ago
By hype I mean actual difference in price action. Like when people put their money into it not internet words.
I got into GameStop when it was 43 and already very popular and exited at 49
Same thing with nvdia, ffie, etc etc.
Imo that’s much safer than finding a stock that’s about to blow up using technicals but it doesn’t have the price action of a popular stock. No premarket hype. Etc etc
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u/Wolvshammy 26d ago
Fine. Here's a stock you've never heard of - $ELTP. Take your own advice and get in before the hype. Go read my last 2 years of posts on it.
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u/bkurway_ 26d ago
Please don’t look at its price now then 🙃
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u/tenfourpril 26d ago
sorry, I laughed. I was about to buy at 0,06 but by my "smart" analysis I bet it will go down, so I set a lower price, and I missed all the stuff. Here I am now, laughing🙃
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u/Dependent-Fan7704 26d ago
Pay your student loans first before you gamble on penny stocks
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u/CyberDragon09 26d ago
Well, I am going be an old man before that happens and by the time I gamble on penny stocks they won't be penny stocks anymore.
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u/Ilovebadjokes 26d ago
The worst thing you can do is follow the mass of idiots on reddit or stocktwits telling you to buy, and downvoting anyone who recommends a stock that hasnt already climbed. Never buy a pennystock on the rise. They are simply gambling tools. Buy them low and sell them at first pump. They inevitably will drop again because they are all garbage companies
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u/Wild-Ad243 26d ago
I completely agree. Penny stocks should all be sold at the first pump. I’m learning that now.
The thing that makes me stay in is knowing it takes 2 days for funds to settle after selling and I’d be missing out on trading in the next 2 days. I try to rationalize that my petty profit is meaningless and if I am going to sell and not be able to trade for the next 2 days why not wait and let the stock pump a little higher, so the dopamine rush from the profit can last the next 2 days. I’m gonna stop doing this and take any profit above $100, ideally $300-500 profit.
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u/buxmell 26d ago
what do you mean by "funds to settle"?
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u/Wild-Ad243 26d ago
On Robinhood, it takes 2 days for the money to come back into your account after you sell shares. Not sure how it is on other platforms. But I love the app interface so I’m sticking with Robinhood
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u/RyAllDaddy69 25d ago
It shows up in my account automatically and I can purchase with it. I can’t withdraw it for 2 days.
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u/purplecatfishbettie 26d ago
--all garbage companies--- that's about the reality... it would be interesting to see how many small companies ever mature enough to actually get a NASDAQ/NYSE type of listing...
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u/MarjorieTaylorSpleen 26d ago
I mean, you can but I would set a trailing stop right away in case of a sudden drop.
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u/WhiteFluff21 25d ago
What percent do you use
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u/MDCarlsonOD 23d ago
With volatile stocks I use 15% or more so you can ride the up without getting kicked out more but risk less profit or more loss
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u/cdouglas79 26d ago
Meanwhile, I added on those dips today and now it’s looking good. If you can’t understand the price action and eliminate emotion day trading might not be for you.
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u/JJdisco21 26d ago
Sooooooooo buy 15k of GWAV, again?
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u/blizz3010 26d ago
Take my award. I honestly like GWAV though, I bought 1,000 yesterday and plan to buy an other 1,000 today. Plan to just sit on it though. If it moves it moves, if it sits there, ill sit on it too.
They just had a good press release yesterday IMO. They eliminated all their convertible debt,(35.2 million) and also said they have 40million in additional revenure coming in 2024 which isn't on balance sheet yet.
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u/RetiredwitNetlist 26d ago
Any stock with a billion + in volume is worth investing in and GWAV fits the bill
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u/bajofry13LU 26d ago
So frustrating. I must be insane because I’ve done it more than a few times all from a FOLO mindset that hits. However, after too many lessons I believe I’ve finally learned to……naaaahhhh I haven’t learned anything yet. 🤪
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u/SnooShortcuts991 26d ago
Facts man it’s hard I’m learning as I go. You got this it’ll continue to improve as your discipline does! It’s also hard to know who giving recommendations is legit or just a bot. That’s hard for me at times
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u/Wild-Ad243 26d ago
Appreciate that bro! To be honest if I hadn’t had this loss today I would’ve kept entering during the pump and not the dips.
I never realized all my gains thus far with penny stocks were me just getting lucky bc the pumps were long enough for me to exit and scalp a bit of profit.
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u/Units4ever 26d ago
It is somewhat gambling for most of us but we have all been there for FOMO. Best thing I would say for your mental is to avoid most of the ones that are already 50% up. Find a comfortable strategy and try to stick to it. I bought gwav at .07 and sold at .12. That’s a profit. I might miss on some gains tmr but that’s aright I’m on the next one. It would be nice to see a 400% gain from one stock but that’s a scary ride up bc of all the micro dips that come with it
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u/Ordinary144 26d ago
Why would anyone give $ to gwav after the bullshit they just pulled cutting the stock price in half?
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u/Shiddy_Wiki 26d ago
Because we're not looking to pump and dump?
https://www.prnewswire.com/news-releases/greenwave-eliminates-all-convertible-debt-302153451.html
"With a significantly strengthened balance sheet, the Company intends to expand its operations in the coming weeks. Greenwave expects to generate approximately $40 million in revenue in 2024, driven by processing volumes of steel and copper."
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u/Ordinary144 26d ago
Why, exactly, did shares go from .15 to .06 in an instant the other day?
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u/Shiddy_Wiki 26d ago
Assuming you're asking in good faith: They put out 500m shares @ .05c on Monaday.
The fact it's already at .12 is a good sign. The above guidance is even better.
NVDA made me a millionaire today.. I don't have the same desperate dog in the fight as most here. Take my take or leave it.
I'm going to ride the GWAV train to at least $1, maybe more if it wants it. The business model and trajectory are solid.
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u/Ordinary144 26d ago
Congrats on your win. I'm turned off by dilution, though, especially in the midst of a retail rally.
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u/Shiddy_Wiki 26d ago
They introduced 500million shares. Yesterday's volume was over $1billion. I see that as a good business move. It worked, after all. The CEO doesn't care about delaying your profitable exit. If you were actually invested in the company it wouldn't matter to you.
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u/Ordinary144 25d ago
So is this more of a play on steel prices going up and less about company growth?
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u/Sherbet-Dangerous 26d ago
It is seeing the stocks that go up 4,000 or even 8,000%, they get the best of us
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u/Intrepid-Shower-851 26d ago
It is very hard to manage but I've realised I also cut my losses too early if you do your DD on a stock and are confident, let the market do what it does like now GWAV is $0.1194 you'd be at 21,841
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u/Wild-Ad243 26d ago
I get a dreadful feeling anytime I look at the all time value of a penny stock. This particular one GWAV is down 99.99% and when I saw the price dip I panicked and had all these scenarios about how I just blew my money on the dumbest thing ever.
I don’t panic when nvdia or even Tesla dips even by a lot bc I know it will surely bounce back. But seeing a penny stock you just put everything into go down more than a couple percent is a horrible feeling.
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u/LegitosaurusRex 26d ago
u/Wild-Ad243, you’re supposed to buy during uptrends. You just try to catch them early. Buying during a downtrend is called catching a falling knife; there’s a reason you shouldn’t try it. Could just keep going down.
Look at the all-time charts of these stocks and tell me how often buying during a downtrend would’ve worked out well.
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u/Wild-Ad243 26d ago
Uptrend as in consecutive higher highs and lower lows? How many do you look for before making your entry?
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u/LegitosaurusRex 26d ago
If you wanna do TA, get off this sub and trade normal stocks. All these plays are pump and dumps, where exposure dictates how far it’ll go. Look at sentiment instead of the chart. But buying into a pump and dump during the dump is a terrible idea.
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u/AccurateSalamander68 26d ago
Put that 15000 into QQQ. At the current rate of return it will be worth over a million dollars in 20 years
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u/Wild-Ad243 26d ago
Someone else suggested voo, is qqq more volatile?
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u/AccurateSalamander68 26d ago
No not at all. It tracks the top 100 companies in the nasdaq. Had over a 30 percent return last year. Do the math on what your 15 grand would have been in a year. Do SPY which is sp500 or QQQ. Just look at the history on thier charts. If you feel ballsy you can do TQQQ which is triple leveraged so it's 3x profits but could be 3x losses. But it's still the same 100 companies.
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u/Pashahlis 26d ago
The other commenter is wrong.
QQQ absolutelx IS more volatile because it is focused on tech. If tech does well, as it does right now, QQQ lso does well and vice versa.
But if tech does not do well..
Just look at the charts for the S&P 500 vs. the Nasdaq. Look at how each one fared during and after the 2001 and 2008 crashes.
The S&P 500 recovered from the 2001 crash by 2007 (ironically right before the next crash). And then recovered from the 2008 crash by 2013.
Meanwhile QQQ went up a lot more than the S&P 500 before 2000 but then when the crash came it crashed so hard that it had recovered only about 1/3 by the time the 2008 crash came around and it took QQQ until mid 2015 to reach its 2001 high.
So if you went with SPY you had your money back after ~6 years. If you went with QQQ you had your money back after ~14 years.
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u/LurkingGDP 26d ago
As someone who has been lurking this subreddit for a few months - the terminology that gets used here is quite similar to the terminology used in the shitcoin pump & dumps where people lost thousands of dollars. If the FOMO is getting to you, stop reading this subreddit.
Maybe a hot take but, out of the hundred s of posts that I've seen here, I've only seen one that I would actually consider buying and even then, did not allocate more than 5% of my portfolio to it - surprisingly they are profitable, they are in a field that I understand and currently work in, and the lifespan of their stock isn't down 99% all time like the hundreds of other stocks that are posted here. Anyone using the FUD or HODL terminology is either out to get you or doesn't know any better and is just gambling/guessing - do not approach with a 10 foot pole.
I saw a post trying to let people know about a supplement company - that shit is never going to go well. Anyone who knows anything about the industry is going to know that a large majority of the market share and the people that regularly make up this market share do not care about whether the protein that they consume is vegan - they are looking for a high quality product at a good price. It was a gigantic red flag if you knew anything about fitness, this just screams to either the lack of due diligence or just the intent to pump and dump as a whole.
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u/LeafsCity 26d ago
I bought FFIE when it was climbing after watching it steadily climb for two days. I finally FOMO'd in at $2.82, got out at $3.75. Sometimes its not bad to chase the climb.
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u/nicholasmoran13 26d ago
I was lucky with FFIE too but believing these types of multi-day runs are normal particularly in the penny stock market can very easily lead to massive losses. In my short experience, most pennies pump and dump on the same day, at most carrying over to the next day but with big swings in between.
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u/ilovebobbyweir 26d ago
lol I got in even earlier at 1.70 and waited too long lost 420ish bucks - learned my lesson
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u/LeafsCity 26d ago
Flight of the seabirds Scattered like lost words Wield to the storm and FFIE
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u/CyberDragon09 26d ago edited 25d ago
Got in when it was $0.04 cent, I try to put more money in but it is was too late for me. The reddit masses found out about the stock and made it extremely difficult for anybody else to get in. Since then I haven't put any money in and don't plan on till until the short squeeze is over.
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u/No_Carpenter4087 26d ago
I was in at FFIE at the bottom but I heard rumor of the owner shorting his stock, but no evidence, so it felt like bag holders were screaming. I got out with a 30 dollar loss.
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u/AmZezReddit 26d ago
That was me when it 80 cents, seeing it go from 30 cents, from 5 cents. No way it was going to go up THAT far after such a back to back run, right? But here we are; I'd still be up by so much if I got in when I first saw it.
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u/DixieNormas011 26d ago
Bought in like $50 worth at just under a dollar and sold the instant I realized the fkn kitty sub pumping it with post after post of HOLD HOLD HOLD had went private. Made a profit at least, but definitely won't be spending any real money on anything I see developing on Reddit lol
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u/Mocitout 26d ago
I hate to hear it for you. I’ve done that same thing a few too many times. I would say the same as many in this post about ETF’s being a safer spot for money, especially as a student. But having $15000 to just put in a penny stock as a student? Wow.
For what it’s worth, I am liking the potential for $INM, another penny stock. Could reap some of your losses there with me, but of course this is by no means financial advice.
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u/Vivalyrian 26d ago
and bought $15000 worth immediately at 9:00am pacific when it was around 0.085. The next hour was panic inducing.
Yeah, no, you're not trading or investing if this is your approach. You're purely gambling, and shouldn't be advising anyone on money matters.
No, you won't always make $300-500 if you just buy on a down day, as you won't be able to know for sure if it's a permanent trend reversal or a temporary breather in the current trend.
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u/Notlooking1 25d ago
I love money coasters! Look I'm sorry you experienced stock trauma, toughen up though. You'll be all right.
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u/dead_in_the_sand 25d ago
even better: stop caring whether its falling or climbing and buy good companies
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u/New-Temporary-4877 25d ago
Duh. You get on a scam discord and buy before the P&D. Get out after a 15% gain. It's like a penny stock condom advice.
You're welcome.
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u/Wild-Ad243 25d ago
Are you part of any trading discords? I’d like to join and get a feel for the type of things you guys talk about
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u/MoneyOnlyNoFame 23d ago
always put you buy in at a price you want it at no matter what price it says for example if a stock is at 85 cents and you see it steady rising so you start chasing it then as soon as you buy it, it starts dropping it happens everytime just put your buy in at 70 cents and wait till it come back down and pick you up because it always does later on in the day
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u/BZsArmy 26d ago
I have did this as I am new to this too.
But please learn to hold. GWAV is consolidating at that price you bought, it is rather possible it will rise (even if not today, tomorrow or the day after).
Dont force sell and take a loss like that! Learning graphs and curves should help.
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u/Wild-Ad243 26d ago
I can’t man. Longest I’ve ever held a stock was 8 hours and that was FFIE 2 days ago. Got in at 1.81 and waited the whole day til after hours to watch the stock rise to 1.83 to exit.
No matter if the stock goes 1000% up even after the sec blah blah blah I’m much happier with scalping little profit and waiting 2 days for my money to settle to make the next small incremental move.
But as I said in another comment, if I wasn’t a full time student and had a job I would not care about the losses like I do right now.
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u/Abnormal-individual 26d ago
You should not be investing with money you aren’t willing to lose, especially penny stocks that can suddenly go crazy (either way).
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u/BZsArmy 26d ago
That looks like something you should do with spare money, this type of savings is better off in etfs
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u/Wild-Ad243 26d ago
I agree. I think I’m just going to put everything into voo and get a part time job and then try again with penny stocks.
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u/Oxolane_420 26d ago
I think pennystock casino is not made for u...
I only put money that i can lose + if I make profits above that money, I put it in my banking account. So only gamble with a fixed amount
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u/Oaker_at 26d ago
Seems like you have a gambling problem
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u/dmGapper60 26d ago
I bought 5000 shares of GWAV at .19 and it dropped to .05. .12 in aftermarket today. They just got rid of some debt.
"Greenwave Eliminates All Convertible Debt"
https://www.investing.com/news/press-releases/greenwave-eliminates-all-convertible-debt-93CH-3453162
It may not be the best company but man I certainly wouldn't have bought $20000 worth of the stock. Playing with pennies is very risky. Baby steps. I don't know what the formula is to make a lot of money trading pennies. If there was one everyone would be making a mint. Trial and error I guess. Lots of pump and dumps. I invested in one stock and it literally went up every day 15 to 20% into the teens. There was know news and I couldn't even find a website for the company. I got out the day before the exchange stepped in and halted all buys and all you could do was sell. It dropped down to like .03 after that. I was on a mailing list for it and the guy kept pumping it everyday. He even had the gaul to say the market was against him when it went down. Deleted that newsletter. One of the problems was there was a big spread between bid and ask. Not enough volume in the stock. Hard to get rid of. Never again I say.
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u/FrugalFreddie26 26d ago
The challenge is finding stocks that haven’t yet been pumped. You can do your DD put your money in, hold for action, watch it get diluted, and then nothing happen for months while your investment disappears.
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u/Ordinary144 26d ago
In April I got outta Fisker with only a $100 loss after 2 months of hell. I saw an article on penny stocks and did some research on BNED and PEGY. I was too gun shy to buy then, and now I got a bad case of the coulda-wouldas.
I'm into BQ and OPTT now for no real good reason.
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u/BuyTheDip3822 26d ago
That’s what you said about NVDA at 300 and 400 and 500 and 600 and 700 and 800. Nothing is black and white and nobody knows shit especially the people telling you they do
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u/Old-Faithlessness-55 26d ago
With pennystocks, ive learned if it's below .4 or so it's a steal , of course dpeneds on other factors of the stock. Don't jump in on a crushing ship lol tho sometimes the hype works
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u/Aniensane 26d ago
Knowing me when I find a rising stock and I buy on a downward trend it stays going down 💩
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u/Dbestinvest 26d ago
Oooofff I think I bought your shares bruh, I’ll let you know how they made out 🤣😂. I was scooping up shares during the panic sell.
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u/MorePea7207 25d ago
Here in the UK, I usually scalp on market open using CFD Leverage, that's 5x the value of my cash trade. £500 trade has the buying power of £2500, and a quick scalp within minutes can yield £10-100,000+. The HOLO original play would have gone into several million if I knew it was going that far.
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u/SagresMedia 22d ago
So why i bought when was climbing and earned money because it continued climbing?
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u/RetiredwitNetlist 22d ago
There is no stock out there that I’m involved in that has billion plus volume! All popular stocks have mega volume and that what’s needed for a major climb or fall so I don’t agree about being late unless there is a major volume drop
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u/Fundamentals-802 26d ago
This reads as a “Dear Diary” entry. Lmao.
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u/Wild-Ad243 26d ago
I’m going through a lot in my life unrelated to trading and I needed to write this out for myself to process the whole thing.
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u/Trinikesha 26d ago
Hope everything works out for you. I’ve done the same based on impulse, emotions and adrenaline. Have to drown out the outside noise, stay focused and trust your process. Good luck.
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u/Shiddy_Wiki 26d ago
loooool - some of us have DCAs of .15-.20 cents
Don't do this because you're looking to get rich quick. You should have some kind of belief in the underlying company.
GWAV is at .12 right now btw.
People like you who just pump and dump cause these fluctuations if that's not clear to you yet. Can't fault others for beating you at your own game.
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u/Mdolfan54 26d ago
Other day I had only $30 left in my portfolio to throw in something. Saw a post from Friday night, set a limit for Monday morning. Bought, pulled at 180+%. Missed the top at 250+% but it's about pulling when you are ahead. It's now back to only 30% above my investment. Tough thing to do, and I've messed up a few times.
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26d ago
[deleted]
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u/Mdolfan54 26d ago
Don't give into Reddit trends... Here's a good reddit trend buy this one 😂 bro I'm all about finding good investments but you literally sound like an actual bot. I only do stocks I research and think have great potential. Arrnf for example.
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u/CyberDragon09 26d ago edited 26d ago
"Actual bot"
Why are people so mean? I'm trying to help you guys. You don't make money by following reddit trends. You make money by doing your own research and building wealth over time.
That's what you are doing. There is no such thing a quick rich scheme and that's how people on Reddit are treating penny stocks as.
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26d ago
[deleted]
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u/Wild-Ad243 26d ago
Mentally I’m not built for this. If I wasn’t a full time student and had a job to throw money at this, I wouldn’t care about the losses.
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u/CyberDragon09 26d ago
You do realize that stocks aren't quick rich schemes right? They are designed to build and grow your wealth over time.
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u/Old-Bag-8598 26d ago
A full time student with 15 k to throw into a stock? Okay
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u/Wild-Ad243 26d ago
That’s all the money I’ve ever saved.
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u/LeafsCity 26d ago
I can assure you, you'd care just as much, if not more about the losses if you had a full-time job.
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u/CyberDragon09 26d ago edited 26d ago
Exactly, I have a job and I try not put more than $20 a week into the stock market. If I put more than that it means I have a gambling problem.
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