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Unread 05-16-2013, 07:46 PM   #1
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1998 TJ Wrangler 
Join Date: Sep 2012
Location: Portland, Maine
Posts: 43
Penny Stocks

So.... My girlfriend says I spend too much time on websites that do nothing for me like Jeep Forum. She thinks I should get a hobby that may earn some money. Penny stocks came up as a suggestion. My question is: Does anybody here do these? For a minimal investment, they can become a money maker. I can also lose everything I invest.

I'm not looking at investing more than $500, so I am not going to cash out my retirement fund.

Has anybody had any luck? I want to hear both the horror stories and the success stories.

What makes hearing children’s laughter scary?
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Unread 05-16-2013, 08:12 PM   #2
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1997 ZJ 
Join Date: Apr 2012
Location: , all over it seems
Posts: 113
I had the same epiphany while at work. Lots of time dinking around on here and other websites; fun, but just killing time.

So, I've been playing around with penny stocks. It's fun, but to do it right you need to do a lot of research or you could just gamble it I suppose. Just set up a brokerage account somewhere and start spending money. If you're in it for the long haul you can make some decent cash. With shorter periods, brokerage fees and a higher tax rate may eat into your profits, but with $500, no biggie. With shorter time periods it can be more fun and exciting, if researching and buying at the right time are fun to you. The long term can get a bit boring at times.

Find something interesting to you or something that you think has a good chance for success and read up on it. That is what it comes down to for me...research, research, research. But sometimes it's just fun to own a little of something that you love.

Good luck!
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Unread 05-17-2013, 11:04 AM   #3
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1991 YJ Wrangler 
Join Date: Jul 2008
Location: , PA
Posts: 969
For the time it takes to research and trade, the payoff isn't worth it. Also, keep in mind that you would potentially be making several trades a day. At ~7 bucks a trade, that can get pricey.

Investing is great, but if you want to turn a lot of money into a lot more money you should invest more "classicaly". ie normal stocks or mutual funds. If you want excitement then just stay away from blue chip companies.

91 YJ. 4.0, 4.10's, 33's, 4" springs, 3/4" booms, 1" BL, 1" MML, d30 aussie locker, hand throttle, posi-lock, full cage, bumpers/rocker guards/engine skid, winch.
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