Comments on: Penny Stock – How to Avoid Losing My Shirt? http://buy-penny-stocks.com/otc-penny-stocks/penny-stock-how-to-avoid-losing-my-shirt/ Buy and Invest in Hot Penny Stocks Sat, 02 Oct 2010 16:51:29 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Common Sense http://buy-penny-stocks.com/otc-penny-stocks/penny-stock-how-to-avoid-losing-my-shirt/comment-page-1/#comment-210 Common Sense Thu, 14 Jan 2010 10:04:04 +0000 http://buy-penny-stocks.com/163/penny-stock-how-to-avoid-losing-my-shirt/#comment-210 You don't mention the daily average volume in your question. That would help in assisting you in getting out. It may pay to put small amounts out for sale as a "limit" order. the bottom line is.... money management is the key to any investing... but it's most important with penney stocks. The bottom line is you have to take a loss because it can get worse. It may reverse the day after you've sold it... but you really have no choice. I trade every day. I never buy stocks below $1. I rarely buy stocks below $3. I have this rule because I understand how they work. When I first started investing I was also attracted to cheap "Story Stocks".... another lesson.... they all have a compelling story which almost says..... you have to be an idiot not to buy me. The truth is... professionals steal money from traders like you everyday.... every hour. This was an expensive lesson for you. Learn from it. Experianced traders don't get into positions without knowing their risk first. They'll generally limit the loss to 1% - 2% of the account value in any one trade using a hard stop. Position sizing is very important. Never get into a stock hoping for a "home run". The real winners in this game win by singles & doubles. We may average up.... but we never average down". If I can be of further assistance. Let me know. You don’t mention the daily average volume in your question. That would help in assisting you in getting out. It may pay to put small amounts out for sale as a “limit” order. the bottom line is…. money management is the key to any investing… but it’s most important with penney stocks. The bottom line is you have to take a loss because it can get worse. It may reverse the day after you’ve sold it… but you really have no choice.

I trade every day. I never buy stocks below $1. I rarely buy stocks below $3. I have this rule because I understand how they work.
When I first started investing I was also attracted to cheap “Story Stocks”…. another lesson…. they all have a compelling story which almost says….. you have to be an idiot not to buy me. The truth is…
professionals steal money from traders like you everyday…. every hour.

This was an expensive lesson for you. Learn from it. Experianced traders don’t get into positions without knowing their risk first. They’ll generally limit the loss to 1% – 2% of the account value in any one trade using a hard stop. Position sizing is very important. Never get into a stock hoping for a “home run”. The real winners in this game win by singles & doubles. We may average up…. but we never average down”.

If I can be of further assistance. Let me know.

]]> By: Mike http://buy-penny-stocks.com/otc-penny-stocks/penny-stock-how-to-avoid-losing-my-shirt/comment-page-1/#comment-209 Mike Tue, 12 Jan 2010 06:48:41 +0000 http://buy-penny-stocks.com/163/penny-stock-how-to-avoid-losing-my-shirt/#comment-209 Place a market sell order, take what you can and consider it a tough market lesson. Don't get into penny stocks again. Place a market sell order, take what you can and consider it a tough market lesson. Don’t get into penny stocks again.

]]> By: Chris http://buy-penny-stocks.com/otc-penny-stocks/penny-stock-how-to-avoid-losing-my-shirt/comment-page-1/#comment-208 Chris Mon, 11 Jan 2010 10:51:31 +0000 http://buy-penny-stocks.com/163/penny-stock-how-to-avoid-losing-my-shirt/#comment-208 ohh man that stinks, i been there a few times before in the past, at least you learned a lesson stay away from the OTC market, so illiquid and easly manipulated, i'd sell what you got, at least sell half your position, theres always buyers out there, even if you forced to sell on the bid not the ask, whats the ticker? ohh man that stinks, i been there a few times before in the past, at least you learned a lesson stay away from the OTC market, so illiquid and easly manipulated, i’d sell what you got, at least sell half your position, theres always buyers out there, even if you forced to sell on the bid not the ask, whats the ticker?

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