I'm wanting to trade penny stocks but im concerned about placing trades for stocks worth less than 1 cent. For example, if i buy shares for 0.0001 and sell for 0.0002, have i doubled my money? Or will it make no profit, as they are both worth less than 1 cent? I just don't want to buy 100,000 shares at a cheap price to find out i cant sell them for profit when they go up a little.
I guess what I'm asking is...is there a minimum stock price for which an increase will turn over a profit, or can i make a profit from stocks of ANY value, including fractions of a cent?
Please, keep the answers specific to the question, I don't want to hear comments about the pitfalls of penny stocks as i already know the general risks. I just want to know the answer to this particular question. Thanks!
I guess what I'm asking is...is there a minimum stock price for which an increase will turn over a profit, or can i make a profit from stocks of ANY value, including fractions of a cent?
Please, keep the answers specific to the question, I don't want to hear comments about the pitfalls of penny stocks as i already know the general risks. I just want to know the answer to this particular question. Thanks!