Re: This is Roman. Thank you guys for all the good information!
Only play penny stocks if you can watch the market consistently. when I have time to watch the market I make money, when I don't I lose... so I stopped playing penny stocks if I can't watch them during pretty much the entirety of market hours. Here's an example that hurt me bad a few weeks ago: bought into PSPJ at .22 expecting a bounce from its huge drop the day before. This was at 9:30am at work. By the time I got home 20 minutes later it was down to .15 and still falling. I had to sell out at a nearly 40% loss. A stop loss would have helped, but I didn't set it.
If you can't watch your account during trading hours, try swing trading. Buy OTC or higher listed stocks that you expect to go up on a weekly (not daily or hourly) basis, and set trailing stops...
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No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.
Buddha
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