Well, I am a very, very green newbie. (green does not mean I have plenty of green, yet). I have toyed around with the idea of getting into penny stocks for many, many years. I actually bought some penny stocks about 35 years ago into a color printing company but had no idea how it all worked. Not even sure what ever happened to them. Recently I made the active decision to learn about penny stocks and trading.
Important things that I learned so far is that you should NEVER follow the penny stock promoter emails. Even though I know that the promoter emails were paid advertisements I fell for them and I lost about $100 quickly. I also was very lucky and had one trade that made $4.11, but this was pure luck.
Because I am so new to this and am committed to learning how to get a slice out of the up's and down's I have to essentially learn a new language. Stock Market Terms. I have started watching Tim Sykes video's, online webinars, emails and chats. Even though I had no idea what many of terms he was talking about meant I started a page of definitions for myself. Two weeks ago I had NO IDEA what a watch list was or a Screener. I played around on several sites trying to figure these out and the more I listen to Tim's information the more understanding I get. I am happy to report that I now know what a watch list is and a screener page. This may seem like basic terms to most in this industry but they were very foreign to me two weeks ago.
I am committed to learning this and am looking forward to this as my next endeavor in life. We live in exciting times and the world is changing with technology and information availability.
These are the words that I have had to look up so far:
Market Order
Limit Order
Stop Order
Stop Limit Order
Day Order
GTC (Good ‘Til Canceled)
REVENUES
EARNINGS PER SHARE(EPS)
PRICE/EARNINGS (P/E) RATIO
MOVING AVERAGES
BREAKOUTS AND BREAKDOWNS
RESISTANCE
SUPPORT
VOLATILITY
LIQUIDITY
MARKET VALUATION
FLOAT
MERGER
SECONDARY OFFERING
PRIVATE INVESTMENTS IN A PUBLIC ENTITY (PIPES)
PUMP AND DUMP
MARGIN & LEVERAGE
BULL MARKET
BEAR MARKET
LOW FLOAT
EPS
Decile Score
P/E
PEG
Candlestick Charts
Advice: learn to sell QUICKLIY, be scared of the market, take small percentages, don't be greedy, know low float, short squeeze, any news, what is the earnings report, how many days red vs green, and how is the volume, and always create your own watchlist P.R.E.P.A.R.E.,
You know that you don't know which is really good and you don't have any predeveloped bad habits. You seem off to a great start. Recommend Tim's first two movies to get started.
Bryan, I am a big chicken shit when it comes to this. I made myself a little calculator sheet where I can input the share price and number of shares and it will show me how much the price will have to go up to make 20% and cover fees. I figure if I only make $20 that is great while I am learning.
Hunter, I just received the DVD's in the mail a few days ago and because this is a busy time for me with regular work right now it is going to take a while to watch them, although I have started on them.
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