How do I get out?

Discussion in 'Penny Stocks' started by legman, Jul 18, 2019.

  1. legman

    legman New Member

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    RE: Etrade penny OTC penny stock............

    Ok.............. so i'm in a penny stock at $.65 and have made a cool $3000 over the past 5 days.

    Can anyone tell me how to collect my profits, leaving my original buy-in money on Etrade and continue on watching my stock go up??

    I figure, why kill a galloping horse, when it's still galloping - right?

    Thanks to anyone willing to help a green pea!!
     
  2. Mitzter

    Mitzter Member

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    Just sell a part of your shares, for example if your position is 5000 shares, sell 2500 shares and keep the rest of the position open.
     
  3. Three Eyes

    Three Eyes 2018 Stockaholics Contest Winner

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    OTC? My initial reaction is to get out and count yourself lucky you made a chunk. But I am postulating from ignorance here, as I’ve never looked into the penny OTC market.

    Here’s how I manage winning trades as well as my cash at risk once a listed stock I favor has risen to a nice profit: I sell a number of shares equivalent to the initial investment. So if you bought $1,000 worth of something, and it pops and the value is $1,500, then I sell $1,000 worth and keep the remaining shares. No matter what happens to the price or my remaining shares, my initial investment is safe from loss. This has an additional bonus of freeing up your $1k to invest in something else (and adding to your diversification).

    So let’s say I bought 3,000 shares of something at @ .65 for $1,950, and it pops to 1.65 and is now worth $4,950. Then I’d sell $1,950 worth of shares at 1.65 which is 1,182 shares, leaving me 1,818 shares to ride up or down with no loss to my initial investment of $1,950 shares.

    I’ve accumulated lots and lots of shares of many different non-OTC/listed companies this way over nearly 3 decades.
     
  4. legman

    legman New Member

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    Thanks for your help! I had 9300 shares of NUGL, solld almost half, bought into a piece of junk AFH, lost about $550, sold it, then bought 5500 more of NUGL and my acct is up $2600 in 2 weeks of fun!!!!

    First trades in the market!! YAHOOO!!!!
     

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