I have made profits as high as 5000% on penny stocks by sitting on them. IMO you are sentencing yourself to small profits if you always take them at 50%. Dont get me wrong, I agree with your strategy for most penny stocks, but it also severly limits your profit potential on the occasional "GEM". IMO, selling to early is as bad as buying to late. Especially when the Fundamentals as well as the Technicals are showing increasing streangth. I guess my point is that a set 50% will never achieve as high of profits as one who "Listens to the charts" and is aware of Fundamentals and potential. I consistantly think to myself "If only I had sold siri at 1.75 like my buisness partner, I could still be working 40 hours per week with him." Not trying to argue because I believe you are correct for the most part, but one should also know when to let it run...
"I don't know of very many penny stocks, if any, that it makes sense to just simply take a long position and sit on it. In most cases those people become bag holders and spend a lot of time thinking "If I had only sold some when it got to .XXXX""
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