Penny Stock Picks

After 8 years trading the EUR/USD exclusively I'm thinking about "expanding the business" and try some ventures on equities just for fun.

I'm really curious to see how my skill accumulated over those years trading Forex will translate on the penny stock world.

I honestly believe a chart to be a chart. and if i apply the same principles i use in Forex I'm not gonna face too much damage somewhere else.

I plan to post my picks here in this thread and if somebody decides to post their picks be welcome.

I never traded anything other than the EUR/USD for the last 8 years so I don't have not even a slightest clue on where to start.

I'm gonna do some research around and maybe post what i find.

Lets see how it goes

Still studding a little how things work on the penny stock world.

Pretty hard to find something outside of the "Tymothy Sykes universe" !!!! this guy is all over the place !!!

Currently I'm looking for a good place where people exchange good tips for the next day.

If somebody can share such a place here it will be really appreciated

I actually don't agree with your statement of "a chart is a chart" when it comes to penny stocks. Penny stocks are notorious for "pump and dump" schemes, where the price is artificially pumped up by a newsletter or something, basically transferring money from the readers of the newsletter to the writer, who bought beforehand and sells at the high.

Liquidity is terrible in penny stocks, so it is really easy to move the price yourself, making it difficult to sell even if they go up. It is the opposite of forex in that respect.

So, I guess my advice is be careful, and don't assume that the charts will do anything like forex. Penny stocks are a great way to lose money. In that respect they are like forex I guess!

As humans we all see things differently. I believe a chart is a chart but thats just me.

Now about liquidity, I'm curious how it works on penny stocks.

I don't plan to trade too big anyways while I'm still not familiar with it so.....

I only work with market orders and it seems on penny stocks it is better to work with limit orders.

Now about SL and TP I guess I will see how I'm filled ( if filled at all) so I'm really curious about how it will turn out.