The hardest part in my conversion to investing in the penny stock arena was the abuse to my faith and belief that what was printed was more or less accurate. At that time I was commonly known as the sheep.
Soon after investing in penny stocks I took my first really big hit on a stock. It was later found out to be a P&D play out of Canada. A hand scanning company that had 99.98 percent accuracy.. I am sure some of you remember this one a couple of years back. (kinda like the car that runs on water LOL)
I could not believe it nor let it go that I was scammed. The SEC knew about the scam and "tried" to track them down, however, the scamsters were long gone...
Man was I pissed... I wrote everybody I could find, filed forms, and complaints to several governmental agencies. Guess what.. no response...
Well my anger slowly burned away and I finally came to the realization that "the system" was too large and no matter how hard I try to do the right thing, my voice was powerless.
I turned my frustration from one of fighting the system (even tho i was a victim) to one of finding out how the system worked.
After spending some time around OTCBB land you will begin to see the bigger picture. Companies do their pump and dumps, wait a few months, change their company names and symbols wait a few months more and do it all over again. Wash, Rinse, & Repeat.
Shell companies are well known for their hype on "reverse mergers". Rumours will abound about huge reverse mergers on low float stocks and the stocks go from .02 to .35 in a few days/weeks and slowly drift back down.
I am not saying every company works this way, but many do in OTCBB land. That is why it is important to "analyze" PR's and try to understand what the true purpose of the promotion is all about and to make sure your on the right side of the trade.
So what do I do. My trading decisions were torn apart from listening to friends, colleges, chat room chatter, etc... well to say the least those options did not work for me.
I found the Swingtrade crew on RB (a good bunch of traders). They ultimately flew the coop of RB and landed here at IHUB.
During this time, and I cant state exactly when, I met OMNI. I knew how to "read" a chart at that point, or atleast I thought I did. If the stock was going up in value, it had to be a good stock... right??? LOL
I was amazed, that almost 70% of this guy's (OMNI) posts were showing green and many were substantial upward PPS. I could not believe it. Well, each week I would read as much as I could, and listened very closely to what OMNI had to say.
Through everything I have learned one fact stands clear, the charts tell 90%+ of the story. When to buy, when to sell, and when to hold. Because of his techniques, I have gained enrichment not only in my knowledge but in my portfolio as well.
OMNI thanks for the education, your help, and all the time you have spent in making myself and many others better traders.
