While trading penny stocks today I bought a pump called FARE. This was yet another stock promotion by one of the worlds greatest penny stock promoters. I like buying penny stocks like this since free penny stock alerts get a lot of attention. It’s not unusual for the penny stock market to become more active around the holiday season in November and December so it make sense to really be prepared during this time of year because you can make a lot of money at this time if you learn to buy penny stocks.
This was the 4th big trade in the last month using my main strategy which I use for trading hot stock picks that make huge gains in a short period of time. I bought 120,000 shares of FARE at $.098. I sold 60,000 shares at $.128 for an $1800 profit. I sold my remaining 60,000 shares at $.138 for $2400. Total profit on this trade was $4,185 after commissions so it was not a bad trade in comparison to my other profits.
When I buy penny stock picks like FARE I usually like to take a larger position however low priced stocks below $.20 can be even more volatile and therefore I like to keep my position size a bit smaller when trading a penny stock pick like this. This stock probably has the potential to continue moving higher, maybe into the $.20 range today or tomorrow but as I have said in the past I am not greedy and could care less what a stock does after I exit with a profit. I don’t care if the stock moves 500% after I get out because I am already focused on the next trade where I am fairly certain I have an edge.
You must learn to think like this or you will end up being caught in a pump and dump and I guarantee you will lose everything quickly. Greed kills penny stock traders and it especially hurts investors. I would not ever invest in penny stocks since they are all crappy companies. Investing in penny stocks is for fools only. Penny stock trading works really well if you have a strategy like my own that guides you on how to make money trading penny stocks.
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