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by R_Berue on May 26th, 2008
Definitely higher-priced stocks are more profitable.
In fact, one of my personal trading rules: I will not do any research about or trade any stock with a price less than $26.61 U.S.D.
I discovered - THE HARDEST way - throwing money at an inexpensive ["cheap"] stock is nothing but a waste of my valuable time and money and an exercise in futility and frustration. I prefer to invest my time and the money in the account.
I'll give you another fact: One of the investors in our trading group has been trading for many years. One day we were having a conversation about the subject you raised in your Q. "Eric" (not his real name) said to me, "Ron I only made money on one penny stock. That was a big fat $135, which I had to wait a LONG time for the stock to get to the price I thought it was going to get to in a few weeks or months."
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
Sources: My wonderful family!
My wonderful coaches and mentors!
TWO [2] of THE ABSOLUTE BEST, MOST wonderful trading groups in the world, which I am most proud to be a member of!
Trading stocks and options more than 2 years.
"THE University of Hard Knocks"
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