I'm 56, and been playing, heavy on the PLAYing the markets for the past 10.5 years.
I got in BRND when I saw a momentum swing up from .013-ish a couple months ago, or so. Waited too long to get in when it was moving pretty fast, but caught .0165. Quickly went up to .022 range but I held (greed). Thought it was going to ruuuuun with the Rodman BBV deal.
Should have sold and locked in a respectable $400+ gain in a few days.
Mistakenly held (hoped) it would go back up after it had dipped below my buy-in point, but never recovered.
Now holding because if I sell and at least walk away with the $100 that remains on this pos, I might miss the chance to recoup my loss by getting back to break-even (fear).
The one word to remember is profit (gain). Lock in your profit when you can on a penny stock. Leave and never look back. Don't be afraid to take a loss, either. Preserve your capital for the next trade.
If you'll notice, many of the penny stocks run like the wind, skyrocketing 100's of percentage points in just a few days, or even in one day, spike like crazy....off the charts.
The fall back to Earth is usually less severe, but lengthy. This turd could flatline for years before there's ever that next opportunity to bail out.
Then again, might never happen.................unless through some financing deal, shady deal, or pump and dump, there's another run. Which will just mean more suckers (new bagholders).
All imo.
Good luck.
P.S. don't listen to the hypesters here or any message board who claim to know what's going on behind the scenes, and claim to know how/when and why the price is going to take off.
They post that stuff for their own benefit, trying to get the price to run so they can dump the shares they bought cheaper.
Those same posters will later turn around and discredit the company, the CEO, the stock any way they can to try and drive the price back down a little to reload shares, and then turn around and be cheerleaders for the stock so they can dump again.
that cycle continues until there's just no more juice from that lemon, and they'll move on.
Note how volume here has dried up from 20+ million shares a day, to a couple million.
This one's just about played out, and will likely go to 0.0001 before the company does a reverse split.
