Hello, my name is Brady, and I am from a tiny community in Louisiana called Hicks. I am on a quest. A quest to find out if I have what it takes to earn $1,000,000 trading PENNY STOCKS. Go ahead and laugh! I don't blame you. I have a high school education, I'm a truck driver by trade, and have only recently started using the stock market to earn extra income. I intend to earn $1,000,000 trading penny stocks and sharing my progress with you every step of the way. You will see all of my trades listed right here in this blog as I make them. I will do it with only 20% gains per trade.
I have never read "Trading for Dummies" or any other book on the subject. I am simply going to use common sense and my better judgement to make my trades in hopes that other "would be" investors can see that anyone can make it in the stock market.
Let this be my disclaimer: I do not hold any kind of license except a class A CDL drivers license. I am in no way suggesting that you invest in any stock I list, or mention in my blogs. The only purpose of this blog is to help encourage anyone considering investing in penny stocks. If you invest in any stock mentioned in this blog, you do so with the understanding that you could lose all of your money, and you alone are responsible for the decisions that you make. I AM A TRUCK DRIVER not a financial advisor! I have not been paid in any form or fashion to promote any company listed in this blog. I invest based on personal research in various forms. Do your own research before investing in any stock.
Ok, now that that is out of the way lets get started.
I bought my first stock in Jan 2009. I opened a securities account with E*TRADE, deposited $500 into my new account and my first stock purchase was 1000 shares of SIRI at .07, and I sold it at .38 (I'll let you do the math). I was pretty excited about this since I had never bought a stock before. I then started buying other Penny Stocks like crazy. Some of them actually paid off. Some I am still sitting on and waiting for them to turn a profit. Some of them havn't even moved. One in particular went bankrupt 3 days after I bought it. THEN I started doing my research.
I have learned much in the past six months. VERY MUCH!
I began looking for help online. I googled "penny stock picking services" and the information out there blew my mind. The number of "penny stock picking services" on the internet is rediculous.
I started watching a couple and found that they were pretty trust worthy. I made my first trade based on their recommendations and made a nice profit, so I tried them again. Once again I made a nice profit. Honestly I felt like I was cheating.
I decided to try another that I was watching for a few weeks, and made a profit again. I have one thing in mind when I invest in a stock, and that is to make money! I buy a stock with a plan, and no matter what I stick with my plan. Good or bad. I'm there to make money. I am not greedy! Greed is what kills most people in the stock market. It is a must that you be level headed. Buy with a plan, and stick to it.
Here is my plan. I read my emails from my stock picking services in the evening. I do my research on each pick that they send me. I then decide on my own which one looks the best, and try to purchase it in the extended hours trading. If I can't buy it in the extended hours, I will try to get it in the first few minutes of trading in the morning. If I cannot buy it quickly, I turn off my computer and walk away. I do not keep trying to purchase it. If you do that, you end up buying it to high and then your profits are minimal. Just walk away. You will have another opportunity tomorrow.
Once I get into a stock I am only there for a 20% gain, and then I'm out. Sometimes that is hard to do, especially if the stock is moving up really fast with good volume. You can set your triggers if you wish to, but I prefer to sit and watch it all day if I must. That is my money, and it is my resposibility to be sure it sells when I want it to sell. I do not trust my triggers to do it for me. Not on penny stocks. I will use them on stocks that are not so volitile, but when it comes to penny stocks things can happen to fast.
Anyway, I invite you to watch my success or failure as I trade my way to $1,000,000 starting with only $400. I will list in this blog different stocks to add to your watchlist. I will try to do this on a daily basis. I will be investing in the stocks that have and "*" beside them. I will only stay for a 5%-20% gain. No more. After each trade I will tell you how many shares I bought, and what the end result turns out to be. I will do this until I reach my goal, or all my money is gone. It should be fun to watch either way.
Wish me luck, and I'll be starting my journey to $1,000,000 by July 1, 2009. Watch for my updates!
BRADY
Thursday, June 18, 2009
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