In 1999 - 2000 I was intrigured by "momentum trading" and figured I'd give it a shot. I had a brokerage account with only $400 and it was fully disposable. Anyhow, I signed up for newsletters that would send stock picks to a big group of people at the same time. I would immediately buy and then sell 10 - 15 minutes later. (I know this is different than buying spam advice but similar). I worked at an overfunded.com and figured my connection was faster than most people's, and that I was ahead of them on the email list (I had no idea but it seemed to work).
After 5 trades I had the account up to $1200. I thought this is great. I lost money on the next one by buying more shares than I could unload and got down to about $800. Then the next time I got mixed up buying so quickly and bought a few hundred shares for $20 (which equalled my commision at the time). I decided to just cut my losses and enjoy my few hundred bucks.
These stocks were always OTC and
I say all this to say, I've bought stocks for a quick buck and it can work... even for an outsider.
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After 5 trades I had the account up to $1200. I thought this is great. I lost money on the next one by buying more shares than I could unload and got down to about $800. Then the next time I got mixed up buying so quickly and bought a few hundred shares for $20 (which equalled my commision at the time). I decided to just cut my losses and enjoy my few hundred bucks.
These stocks were always OTC and
I say all this to say, I've bought stocks for a quick buck and it can work... even for an outsider.
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