Penny Stocks

This is a discussion on Penny Stocks within the First Steps forums, part of the Reception category; Hello everyone. This will be my first post as a new member. Does anyone have any negative feedback on the ...

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Old Aug 8, 2008, 2:37am   #1
 
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Question Penny Stocks

Hello everyone. This will be my first post as a new member. Does anyone have any negative feedback on the CSX Money Multiplier System?
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Old Aug 8, 2008, 9:47am   #2
 
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A quick search in google found this thread: http://www.trade2win.com/boards/comm...er-system.html

Just a quick look at their website (http://www.isecureonline.com/Reports/PNY/cent907/) and I'd say you're better off taking whatever money you were going to invest to a casino - At least you'll have fun losing your money.

Learn about trading yourself rather than paying somebody else for their "proven" system. That way if you lose your money you can at least rest easily in the knowledge that you weren't scammed.
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Old Aug 8, 2008, 10:44am   #3
 
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Using my Finger-In-The-Air Bull**** Detector, I see 13 screen scrolls so it gets 13 bull**** points.
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My sports trading challenge: http://www.trade2win.com/boards/trad...challenge.html
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Old Aug 8, 2008, 10:59am   #4
 
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"EARLY WARNING : You may never again receive the report you are now reading. My publisher tells me that postage and printing prices have gone through the roof - and he's managed to hold the subscription cost to Penny Stock Fortunes at a special low price. I urge you to act now for two reasons. First, we may never contact you again. Second, you can lock in this low rate of just 14 cents a day now - for two long years. That way you won't miss a single recommendation...and that way your chances of making that $1 million just went up dramatically."

So they're making all that money but postage costs are an issue...
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Thanks! The following members like this post: Lee Shepherd , rags2riches
Old Aug 8, 2008, 11:04am   #5
 
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I'm firmly with ShadowNinja here.

Opened the web page and within...maybe 1 or 2 seconds I'd made up my mind.

Usual crap:

How I turned a brick into moon dust ect. and I'll show you how you can do it too.

Sign up today to recieved a free gift, yep yours to keep, a fake plastic poo to trick your friends with.

Also, instead of paying what the system is worth...over 3 million pounds, you can have it today for a special price of only, and I mean only...£blah £blah £blah.
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Old Aug 8, 2008, 9:01pm   #6
 
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CXS Money-Multiplier System

squirrel60 started this thread
Quote:
Originally Posted by Vrothdar View Post
A quick search in google found this thread: http://www.trade2win.com/boards/comm...er-system.html

Just a quick look at their website (Web promos) and I'd say you're better off taking whatever money you were going to invest to a casino - At least you'll have fun losing your money.

Learn about trading yourself rather than paying somebody else for their "proven" system. That way if you lose your money you can at least rest easily in the knowledge that you weren't scammed.
I appreciate your input, Vrothdar, but have you or any other experienced day trader actually lost money utilizing this particular CXS system? The managing editor, Jim Nelson, seems to be including a lot of sagely "bonuses" (electronic or otherwise) for a $39 annual fee. I usually err on the side of caution, perhaps too often.
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Old Aug 9, 2008, 12:47am   #7
 
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No I haven't personally lost any money trading it but if I had any spare money to my name (I don't trade yet and have only recently left the realms of studenthood) I'd be happy to take a rather large bet that you'll not get the kind of returns you're hoping for from his system. This one's even better than the postage costs thing:

"OK. Here's an example of how much money my system is capable of making. This is going to be an extreme example. And although the numbers are actual numbers of real companies, it probably couldn't happen in real life. But it will show you the power of my system so you can appreciate its power and evaluate its usefulness to you. Here's how it works. "

Giving examples of the "potential" of a system that are clearly unobtainable is clearly a ploy to try and drag people in.

Of course, I could be entirely wrong and he's selling fantastic tips that'll make you as much money as you could possibly desire for only $39 dollars a year.

As you're clearly interested in it you may as well spend $39, paper trade the tips for a while and make a decision then. I'd be very interested in seeing your results after a few months.

Apologies if my opposition to this comes across as pigheaded but websites with content and format like that just reek "I'm trying to make easy money by getting you to subscribe to this" imo.

Whatever you decide to do I wish you the best.
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Old Jan 5, 2009, 7:31pm   #8
Joined Dec 2008
There are many reasons why a trader may get involved in penny stocks.

Sometimes a new investor will want to learn the basics of buying and selling shares, and low-priced investments seem to be a good place to start.

Sometimes an advanced trader will get involved in these speculative issues to hedge a position, or play with some risk money.

Perhaps you may even have inside knowledge of the prospects and potential of a company you work at, and you would invest in their stock before the business really takes off.

Penny stocks are fun and exciting, which is why some people get involved. Kind of like a high-stakes hobby.
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Old Apr 10, 2010, 2:12pm   #9
 
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Re: Penny Stocks

Penny stocks are most closely associated with pump and dump schemes, where stocks are brought in bulk by stock speculators and a massive campaign to promote the stock starts, jacking up the price of the stock.
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