Do you realize that when you buy at 1.00 you're buying from someone who is pumping the stock and when you try to sell it at $2 most of the buyers are long gone except for Newbies who are trying to out smart the pumper.
By the time the average unknowing novice finds out a stock is being pumped they're about 2 months late.
You'll never out smart a professional promoter (pumper), only a Newbie is dumb enough to try.
Only if it was that easy. Its always a huge risk to trade/buy/sell stocks. Even pros take huge loses, unless you have an inside track which can be illegal. Remember Martha Stewart. You can hire a broker, that would charge you their services and get commission, but even at that it depends how good they are.
Novices do not out-scam the scammers. You would become a victim. Seriously dumb idea.
There are safer ways to make money in the stock market than trying to time scammers.
Try the yahoo finance message boards for just about any penny stock.
But be careful. "Pumping and dumping" is illegal.
Case in point: growlife, inc (PHOT)
The SEC halted trading for two weeks after this marijuana company started to jump after the Colorado legalization.
It went from $0.10 to $0.80 in a couple months. Trading was halted for a while, then resumed. It's at $0.09.
Error in logic. "I buy in at 1 and the moment it reaches 2 I sell." You've made a presumption (statement) within a question.
How do you "know" it will go to 2? Or which stocks? Or how long it will take?
Your presumption is that you "know" or can "know" the future. Bing, you lose. Goodbye.
If a person has no knowldge and skills about Forex then it will be very difficult to trade in Forex. But if you use the right software you can make very good profit. The best software is called "autobinary signal". If you aren't a big expert this software is the only way to earn good money in Forex.
Yeah just look for some penny stocks that have had extremely huge upward moves in the past few days. They are easy to spot using a stock screener such as the one provided by Yahoo Finance. Obviously, you don't know when the insiders are going to "dump" the stock, so you are taking a huge risk that you might end up buying right at the top. The other answerer gave a good recent example with PHOT. Unless you are in on the scheme, you don't really have an advantage. You might get lucky once or twice, but you probably can't repeat the strategy too many times before getting unlucky and losing everything. Go for it if you want, I sure wouldn't though!
What if they dump at $1.75 or $1.50? Or maybe THEY bought the stock at $0.50 and will dump at $1.00.
By all means take a few hundred dollars and try your luck - it's like any other speculation - Beanie Babies and Pokemon cards - you might be able to make a profit but you will lose if you start believing that you have found the magic formula to easy riches. The only lessons that you truly learn are the ones that cost you real money.
Hah hah
I was wondering where would I be able to find stocks that are being "pumped"
I thought why wouldn't I be able to jump on these stocks and the moment it rises and extra dollar I immediately sell for a profit?
eg, say I find a stock that is being "pumped" I buy in at 1 and the moment it reaches 2 I sell.
Would this work? what would be the pros and cons?
I ask because I am a newbie to trading and thought why not profit from these scammers.
You will lose, if not immediately, eventually.
