New guy needs some help

R

Rodbuilder

I just got into penny stocks on Etrade and could use some help.

Got $3500 invested and im up to over $6500 now, but dont know what to do with what!

1. Lers say i bought 10000 shares of a stock at 20 cents.

2. Now its up to 40 cents.

3. If I take 800 shres out at limit at 40 cents WHERE does that money come from AND go to, on my Etrade account figures?

4. What is the right way to handle the money in my account, so I can make my profits grow? Buy, sell, etc???

5. I dont understand the different dollar values in my "account". What is the relavance of all those amounts?

6. How do I determine what my PROFITS are and when should I sell shares to take profits?

7. I understand that when I sell shares the number of shares I have will go down, so at what point should I reinvest my "profits" AND in what stock do I invest - that one, or a different one?

That will get me started.

Thanks for any wxperienced help.
 
Rodbuilder said:
I just got into penny stocks on Etrade and could use some help.

Got $3500 invested and im up to over $6500 now, but dont know what to do with what!

1. Lers say i bought 10000 shares of a stock at 20 cents.

2. Now its up to 40 cents.

3. If I take 800 shres out at limit at 40 cents WHERE does that money come from AND go to, on my Etrade account figures?

4. What is the right way to handle the money in my account, so I can make my profits grow? Buy, sell, etc???

5. I dont understand the different dollar values in my "account". What is the relavance of all those amounts?

6. How do I determine what my PROFITS are and when should I sell shares to take profits?

7. I understand that when I sell shares the number of shares I have will go down, so at what point should I reinvest my "profits" AND in what stock do I invest - that one, or a different one?

That will get me started.

Thanks for any wxperienced help.
More...

Oh.. you're NEW NEW.

#3 If you sell 800 shares @ 0.40 cents, you'll receive $320 and then subtract commissions. The market maker buys from you at the bid price or mid-point.

#4 This is the billion-dollar question. If I have a profit-making strategy printing me money, I sure as hell wouldn't give it away, just like Ray Dalio at Bridgewater doesn't give you his black-box or Simons at Renaissance Technologies.

#5 Elaborate.

#6 Only you determine that.

#7 Whatever you deem cheap...

It seems to me that you have got what is called "beginners luck"; if I were you I would take my profits, get the f*ck out and learn more, otherwise I believe I'd lose that money very very shortly. That's my $0.02c. This isn't trading advice, I am just saying that that is what I would do if I were you.
 
Rodbuilder said:
I just got into penny stocks on Etrade and could use some help.

Got $3500 invested and im up to over $6500 now, but dont know what to do with what!

1. Lers say i bought 10000 shares of a stock at 20 cents.

2. Now its up to 40 cents.

3. If I take 800 shres out at limit at 40 cents WHERE does that money come from AND go to, on my Etrade account figures?

4. What is the right way to handle the money in my account, so I can make my profits grow? Buy, sell, etc???

5. I dont understand the different dollar values in my "account". What is the relavance of all those amounts?

6. How do I determine what my PROFITS are and when should I sell shares to take profits?

7. I understand that when I sell shares the number of shares I have will go down, so at what point should I reinvest my "profits" AND in what stock do I invest - that one, or a different one?

That will get me started.

Thanks for any wxperienced help.
More...
That's a joke, right?
 
rb7 said:
That's a joke, right?
More...
%% Actually using discretion;
i think rodbuilder is serious.
Rodbuilder;
buy or borrow Tim Sykes penny stock book. And figure out why he went from college+ penny stocks to higher priced stocks or ETfs.

More on #4. General rule is bull markets=buy because uptrend is your friend=2019;
bear market= sell+ trade . Or with SPY+ good mutual fund buy with a selling plan. Welcome to Elitetrader; take some of your nice stock profits + build a private library + get a public library card. Wisdom is profitable to direct.:cool::cool:, :cool::cool::cool::cool::cool::cool:
 
I doubt very much that you are up $3k on a $3500 account with so little knowledge of trading. Could you post a screenshot showing your P/L? Just so we know you are not just trolling. But in giving full benefit of the doubt, I would say you need to do a lot more reading.
 
Based on your comments, you got lucky the first time around. We all get lucky some of the time. Keep on trading you'll see what i mean.
 
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tomorton said:
Rod - why did you buy these shares?
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murray t turtle said:
%% Actually using discretion;
i think rodbuilder is serious.
Rodbuilder;
buy or borrow Tim Sykes penny stock book. And figure out why he went from college+ penny stocks to higher priced stocks or ETfs.

More on #4. General rule is bull markets=buy because uptrend is your friend=2019;
bear market= sell+ trade . Or with SPY+ good mutual fund buy with a selling plan. Welcome to Elitetrader; take some of your nice stock profits + build a private library + get a public library card. Wisdom is profitable to direct.:cool::cool:, :cool::cool::cool::cool::cool::cool:
More...

Thanks Murray! Send me an email if that possible here. Id like to hear from you.
 
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