Hot Stock Tip of the Day! Buy/Sell/Trade the Market in Penny Stocks & Day Trading

Just say NO. The allure of the "strike it rich" with the penny stocks is very tempting. I tried this once (actually twice). Several years ago I figured I could buy some cheap, cheap stocks that were about to break out (??) and then sell them quickly for a nice profit.
I did my research, bought on the dip and had some early success. All I was looking for was about an $80 profit on each stock and to buy/sell about 5 stocks a month.
My math told me that I would make about $400 a month profit, just enough to pay for my car payment. I realize this was not day trading, but it still gave me a big rush. I started to realize that I had a problem when I had about six stocks in my portfolio that were still going down. Even though I had sold many stocks for $75-$100 gains, these six stocks were at such a loss that they totally offset my gains. I eventually sold the losers and took the tax write-off against my capital gains and the whole experience was a break even. The only one who made money from my penny stock experience was the brokerage house. It was fun but not very wise. As William O'Neil from Investor's Business Daily always preached, buy great companies at good prices and not bad companies at cheap prices. Lesson learned.