Quote:
Originally Posted by rydogg58
Truth. This was pretty much me a few years ago. Sure, every once in a while you are going to hit a good run if you have a good entry and exit. But the road of penny stocks is littered with the carcasses of traders that thought they could make it big and lost.
In the long run (in my case at least) mutual funds and stable dividend stocks are better choices. I still play around with individual stocks and penny stocks. Nothing big, I put a grand in a TD ameritrade account last summer, haven't added anymore, and I'm up about 110 bucks. That's a terrible rate of return for a year. Granted, I'm not a skilled trader. There's been some WILD swings, but like pete said...it's my casino money. I don't go out much, and playing in the stock market has replaced my online gaming entertainment. I do it for fun, and know full well that it's not going to make me rich.
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There's nothing wrong with taking some $ and speculating. Just know that's what you are doing and do it with money you literally would take to a casino.