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General Forex Discussion
Are You Disappointed in Trading?
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[QUOTE="hayseed, post: 109536, member: 5898"] //----- hey twin butterfly.... many biotechs and penny stocks are[URL='http://www.forbes.com/sites/robertlangreth/2010/12/21/why-biotech-investing-is-like-gambling-in-vegas/#5e2bf8554dbe'] often considered gambling[/URL]..... i've made and lost a lot of money trading them.... the penny stocks that are under 10 cents a share come the closest to gambling as you can..... most of my losses were there.... the smallest of biotechs, those less than 50 cents a share with daily volume of only a few thousand and that trade in small hundreds of shares are fairly easy to make money with.... most of the money i made was there.... still gambling.... i would always bid 10 , 15 , or more cents below the market price for several thousand shares.... it might take a few days before your order was filled... once it was filled, i'd put in a sell order for about 20 cents higher..... it might take a few days before it sold.... if you watched the level 2 quotes you could see the depth of the market..... if there were a lot of standing bids above my price , i'd just move to another stock.... over a few years we developed a list of those that were tradable..... i have never and will never gamble in a place like vegas, wouldn't begin to know what to do...... but trading stocks, forex, options and such for some reason appeals to me.... in my mind it's all gambling.... and i am ok with that.....h [/QUOTE]
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