Blog PostNotes From a Cyber Trader - Why I Trade Penny Stocks

I do not recommend them as their platform fails often.

September 2010 Results

Experienced great number of great trades for the month of September. 

Except for LGO.V which is now trading around 27cents all of my other trades are under 20 cents. Most are under 10 cents.

My gross sales for September 2010 were $14,431.75

Net =  $13,187.70

(179 trades @ 6.95 = $1,244.05)

August was my highest net sales month this year @ $6,866.40 - My Sept sales nearly doubled it.

My combined total last year Sept 30/09 was $48,087.41 - Sept 30/10 its $107,473.31 - up $59,385.90

I'm back to maintaining a 40 to 50% cash balance. This allows me to scoop up any of the regular stocks I trade on dips and place an immediate sell at 1/2 to 1 penny move. For a stock that trades at 10 cents that's a 5 to 10% profit.

I like down days as it allows me to scoop up stocks to sell. I always need stocks to sell if I'm going to keep making money every day. Got to keep reloading the account.

Keep in mind, because I trade over 600 trades a year, RBC Direct charges me $6.95 a trade (as a hyperactive trader). 

I do not recommend them as their platform fails often. 

Word of Caution - Penny stocks are extremely volatile so stick to a strategy - especially an exit one.

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I've included several screen shots of my September - 2010 results

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Following is my monthly day-timer

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Daily Pre-trade Balance with Sales Breakdown for September 2010

Each column is colour coded to reflect the most recent account high mark as the days move on

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September's last RSP Balance

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September's last TFSA Balance

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RSP Activity Page - End of Month for September 2010

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RSP Activity Page - Beginning of Month for September 2010

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TFSA Activity Page 1 - End of Month for September 2010

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TSFA Activity Page 2 Beginning of Month for September 2010

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Thanks for checking out my page. Red Mars

My current short term combined account goal (RSP & TFSA) is $113,000.00

Why I trade Penny Stocks - Part 21

Why I Trade Penny Stocks - Part 24

Why I Trade Penny Stocks - Part 25

Why I Trade Penny Stocks - Part 26

Why I Trade Penny Stocks - Part 27

"To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable."   Edgar Bronfman