Im not sure how people can make a living on trading these if 50 to 75% of the people that buy these sell for 50% loss 1 to 3 days after buying. I get it we all do it from time to time for whatever reason but sometimes you got to give it a week or two. Most times I sell out an 8k comes the next day or two or a promo. like clockwork.
One has to realize that in long run you will make out. Biggest prob with this is bids sucks the past 7 years. If one person whacks someone else will then someone else. and the first person knows that if he doesnt whack the next guy is 2 min away from whacking. So its a fight or competition that makes it suck and MMs dont help with what they are suppose to be doing. Seems everything in life is a competition.
I remember a few times already being in skype rooms over past 10 years. No one usually thinks like me. It was all momo stuff, high vol, .000 .00 type stuff. Got the same replies every single time. I cant buy it, not enough vol, cant read chart, dont want to wait. not enough vol prob heard 1,000 times dont want to wait 1000x too. Tried telling them if u buy 5k at .10 all u need is 5k vol at .20 .30. but it never sinks in.
after 6 months in each of those rooms they say the same thing. I dont have money, lost it on this or that. your stuff doesnt have enough vol. I need money now not in 3 months. But if they had bought the low vol ones they would of been up way way way higher instead of feeling comfortable in crowds. Maybe its the crowd mentality. Or people feel safe in numbers like an animal instinct.
But I specifically started an account with the same amount of money they had. Just to see. well 6 months or a year later they were at 50% 75% losses and i was at 10x 15x or even 20x.
So its sucks and it even gets to me waiting but it works itself out. sometimes you can be stuck in something and put say 1k in it. but dang takes 4 months. then it pops up 7x price in one or two days. You get 7 grand and say buy one or two more. These things are streaky and sometimes the next few happen fast. next thing you know u got 15k or 20k in ur account in 6 months. while if you bought the .00 ones ur basically gambling a 50/50 or less.
I know some people brag their asses off on how they bought into a .00 stock and its at .20 and they held every shares. well thats just plain stupid to me. 90% of them go right back down. Most times I dont buy it. Maybe they kept 200 shares or something. Or they dont tell you about the 15 or so they lost on before they got that winner. Bc if they are making that much bank why in the world would they keep a day job if they are making 50 grand on each play....
Your stock trades are your own responsibility. No one forces you to make the trade. Always take responsibility for your own decisions and you will never have anyone else to blame
