Instructions for Buying and Selling
Purchasing the Stock:
Enter a market order or limit order to purchase the stock anytime from 3:30 pm to 4:00 pm. That gives you around 30 minutes to enter the trade. You can trade whatever amount you would like even just one share to try it out. I will be personally using 75% of my portfolio each day based on the current account amount with Robinhood. There is no stop loss applied after this order.
Selling the Stock:
I always use a market order and place it before the market opens the following day. The order is filled when the market opens at 9:30 am. There is no exit price. Regardless if the stock is up or down, the order to sell is always placed when the market opens.
August 2020 Results - Penny Stock Trading
20 Days of Trading = $180
August was a pretty good month. Our gains were just below 20% with $180 in gain starting with $1,000. So each month for the remaining of the year we will be resetting the amount to $1,000 no matter if the amount is positive or negative.
Highest amount was hit on Day 13 with 72%
Wouldn’t it be awesome if we could for see the future? Your mind is thinking I am at 72% – only another 28% to go double our profits for the month. You could say we should have stop at this point; however, part of the challenge is to trade the full month.
Starting August 2020, our goal is to see how much we can earn within the month rather than doubling our money.
Over $1,250 in 3 Challenges Combined!
3rd Penny Stock Challenge Results
49 Days of Trading - May 19th - July 30th 2020
This 3rd challenge went on too long. Almost 50 days of trading and ended up being negative. However, if you combine all the challenges, still end up with doubling our money over a 5 month period. With lessons learn in this challenge, we are going to start something new for August.
2nd Penny Stock Challenge Results
12 Days of Trading - April 28th to May 13th 2020
Great News! We we more than doubled our money on our 2nd penny stock challenge! Over 134% on this challenge! The last trade with JCP we hit 40%! The total gains are actually well over 100% (178%) The reason our results are not as high is because we are only using 75% of portfolio. Details on that in the video below:
Here is the List of Penny Stock Trades During the Challenge
Displaying the first video from the challenge, because it gives you an outline into the trades.
In this video below, gives you insight into how the trades are issued. Highly recommend watching before you get started.
1st Penny Stock Challenge Results
30 Days of Trading - March 3rd - April 21st 2020
We started this challenge on March 3rd and ended it on April 21st. We only ended up around 25% gain. I learned a lot from doing this challenge. I will be making changes for the next challenge to make it better. The good news is we more than doubled our money on our 2nd penny stock challenge!
Here is a List of Things I will Change for the Next Penny Challenge:
One thing I wish was I kept this challenge going even after the 30 Days or started the 2nd challenge right away. On the 11th day of trading, I was nearly half way to my goal and then from there the profits were taken away. I was in the negative range for awhile. Should of keep going with the challenge. The following two days that I stopped, there were two huge gains in the penny stocks I would have purchased. I would have at least another 50% in gains. I would have not reached my goal of doubling my money but at least would have came pretty close.
This next challenge, I will keep going even after 30 days we haven’t reach our goal. Also focusing on only stock will probably increase our chances of doubling our money quicker. I am excited about Penny Stock Challenge #2! We will be starting this challenge on April 27th 2020. Stay tune for the first alert.
Just a heads up. For each challenge we have a blog we be created at the end with the results. We are currently doing challenges right now. https://www.youtube.com/channel/UCFRl15vYVLGHM1Nn-poSWXg Please check our youtube channel and subscribe for updates. Our youtube channel name is “trade stock alerts”