Steve, point well made. In the last month or 2, especially with tnrg,gmch, I have recouped heavy losses that I suffered when I first began in pennies. I think there are few of us that can boast that we were succesful penny stock traders in the beginning. I would buy a penny stock for .03 watch it ride to .07 and back down to .025 or .032. I got hurt doing that more than once and have been far more successful day trading them. I met a succesful guy on the net who showed me this and made me realize that "for me", this is the way to go. Like it or not, most penny stocks rise and fall fast on momentum... just look at a chart of ontv. I am just telling my experiences, i am not telling everybody to do what I do.... everybody trades any way they want, I could care less.
I never said tnrg or gmch arent good companies. I like trading these 2 because they are good companies.... long term even. They have good price supports because these companies are strong.... If tnrg goes to .20-.22 agin, I will buy in again. And yes, sometimes I sell too soon.
I dont feel like I need to defend daytrading.... If you dont like it, dont do it.
Also, day traders provide liquidity to the markets and like another poster said, bring attention to stocks that may be ready for a run. |
