How did he do it? He's the first to admit that it's a risky strategy. And it's not for everyone. He spends the entire trading day in front of a computer screen, in order to buy and sell stocks at the right time. He is sometimes in and out of stocks within minutes, and the longest he ever holds shares is a few days.
So why trade penny stocks? Many of these companies are speculative because they are thinly traded, usually over the counter instead of on major exchanges like the New York Stock Exchange. The Securities and Exchange Commission warns that "investors in penny stocks should be prepared for the possibility that they may lose their whole investment. Plus, penny stocks are notorious for being part of so-called pump-and-dump schemes , in which scammers buy up shares and then promote it as the next hot stock on blogs, message boards, and e-mails.
Once the stock price is artificially pumped up by all the talk, the scammers sell their stake, leaving unsuspecting investors with big losses. Related: 5 most common financial scams. But Grittani has been able to profit because it's such an inefficient market. He knows what to look for and recognizes how to make money out of pump-and-dump scams without doing any pumping or dumping himself.
When investors short stocks, they borrow shares and sell them with the hope of buying it back later a lower price and pocketing the difference. Grittani had noticed shares of a company called Nutranomics, which trade over the counter under the symbol NNRX, had shot up due to what he felt was the manipulation of scammers: the stock had tripled in just a month.
Last Monday, Grittani detected that the stock was losing momentum, and he felt that at the very least a small pullback was imminent. For the past five years, Sykes his been teaching his strategies through the sale of instructional newsletters and video lessons. Grittani first learned about Sykes in early , when he was a senior finance major at Marquette University in Milwaukee.
Earlier on in college, Grittani played poker and made wagers on sports games to make money. But he lost all of that over the course of a year and decided he needed to quit gambling. Would you really tempt lady luck , particularly after a ten turn run?
If this ramble of mine intrigues you, read the true story of Ashley Revell. How many of you were ready to hit the casino? Quite a few of you I imagine. Of course, by now you realize that the odds against doubling your money 18 times in a row are astronomical. Yet many of you reading this are fearful of investing in stock, bonds, mutual funds and EFTs. Yes … investing is gambling , after a fashion, but the odds are significantly better.
Moreover, you have an element of control that is conspicuously absent in the world of casino gambling. The point I am trying to run home is that almost everyone is willing to take some degree of monetary risk. Some risks are foolish, like trying to win a million dollars playing roulette. Others are calculated risks such as those you will encounter with investing.
Be honest with yourselves. Many of you tempted by the roulette scheme are timid about investing in the market. This is irrational thinking. I hope this opens at least a few minds to the concept of investment. Are you afraid to invest? Will anything you are reading here minimize this fear? What is your threshold for loss? How much will you risk?
Tags gambling invest investing millionaires reward risk stock stock market. Great article. This will very helpful and useful for those who are still fear and confused on investing. I had fun reading this and many great insights here. Thanks for sharing this post. Yes … the consequences of compulsive gambling can be terrible. The successful investor is not compulsive and defines the degree of risk he is willing to accept.
I wish you luck in eventually convincing your friends and family to pool their resources with you for the purpose of investment. It could change all your lives for the better! Thank you Alexis. I enjoyed writing it!
Yet many of you reading this are fearful of investing in stock, bonds, mutual funds and EFTs. Yes … investing is gambling , after a fashion, but the odds are significantly better. Moreover, you have an element of control that is conspicuously absent in the world of casino gambling. The point I am trying to run home is that almost everyone is willing to take some degree of monetary risk. Some risks are foolish, like trying to win a million dollars playing roulette.
Others are calculated risks such as those you will encounter with investing. Be honest with yourselves. Many of you tempted by the roulette scheme are timid about investing in the market. This is irrational thinking. I hope this opens at least a few minds to the concept of investment.
Are you afraid to invest? Will anything you are reading here minimize this fear? What is your threshold for loss? How much will you risk? Tags gambling invest investing millionaires reward risk stock stock market. Great article. This will very helpful and useful for those who are still fear and confused on investing. I had fun reading this and many great insights here.
Thanks for sharing this post. Yes … the consequences of compulsive gambling can be terrible. The successful investor is not compulsive and defines the degree of risk he is willing to accept. I wish you luck in eventually convincing your friends and family to pool their resources with you for the purpose of investment.
It could change all your lives for the better! Thank you Alexis. I enjoyed writing it! Knowing that you gained some worthwhile insights has made my day. I was thinking about paying off some debt and investing. If this theory is true, then I have some pennies to get. Save my name, email, and website in this browser for the next time I comment. I was doing just that when I tripped across this: If you begin with one cent a penny and double it each day for 27 days, you will have more than a million dollars.
The whole idea of starting small is that you can afford to make small mistakes without going bust. The guys who start a business or investment with a million bucks cannot afford the same experience. What have you got to lose? Now that you know what a single penny can do, which are you going to choose? Now you know how powerful a penny can be, now you know how tough the journey is and that results will only start to show at the very end of your entrepreneurial journey.
You have seen proof that the plan works. Plan your work, and then be patient and focused while you work your plan. The Get Inspired section of this website contains profiles of several young and enterprising Africans who started small and are reaping the huge benefits, successes and global awards today.
You should also look through our catalogue of small business ideas to discover opportunities you can start exploiting today! Do you have any experiences with starting small? Do you agree or disagree with this idea and will still choose the one million dollars instead? We would love to hear from you! Someone out there may desperately need this information.
Click the course banner below or click here to get started with the course. Great things most often start from small and humble beginnings. Just start something! I guess we all need to start thinking about ways to build wealth and not how to earn a fatter salary. How to double the 1st penny into all that is the question in the first place? Now how do you do that if someone could please tell me???
Get out of here… you do understand that if you were going to save this much YOU would have to fork over the total end amount because you would the one saving double every day. Man you need to stop writing just to push out BS content and write to help folks for real. I would still opt for the 1 million dollars, because there is no explanation for how exactly to double the pennies. You must be logged in to post a comment.
How to turn a penny into a million dollars — it sounds crazy but it always works! View Larger Image. About the Author: John-Paul Iwuoha. John-Paul Iwuoha is a business transformation specialist and founder of Smallstarter. Through his signature training courses and private programs, he has worked with hundreds of African entrepreneurs and business owners to overcome serious challenges with starting, growing, or turning around their businesses. Click here to learn more about his signature programs.
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April 26th, 0 Comments. After 10 years chasing the American Dream, this former refugee has built a beautiful African Dream. April 15th, 0 Comments. February 9th, 1 Comment. February 2nd, 23 Comments. Are you ready for the future? The revelations in this documentary will amaze you. Is this the solution to tribalism and ethnic hatred in Africa?
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What makes charismatic people more likely to succeed? Does God hate Africans? You need to watch this! Africa needs more fearless people like these two Nigerian journalists. March 12th, 13 Comments. The rise and rise of women leaders across Africa Infographic. How Africa can emerge stronger and better from its water crises. Its only Africans to solve Africans problems so lets start now.
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|Learn forex trading forex mini best online tradi||Starting a website is a viable way of making money online. Not sure what calculate atr forex write or what books sell best on Amazon? Million dollars without investment cent that you gained some worthwhile insights has made my day. Moreover, you have an element of control that is conspicuously absent in the world of casino gambling. It took a few years for the KDP platform to gather momentum, but by it was in full swing. Through his signature training courses and private programs, he has worked with hundreds of African entrepreneurs and business owners to overcome serious challenges with starting, growing, or turning around their businesses. The Facebook Group for this column weighed in on your question.|
|Million dollars without investment cent||Naysayers said that new authors would struggle to make a living, never mind make millions. Do you have any experiences with starting small? And then repeat that processtimes. Nothing in life is guaranteed or easy, but investing in the right ICO at the right time can help you achieve that goal in less time than seems fair or reasonable. For the past five years, Sykes his been teaching his strategies through the sale of instructional newsletters and video lessons.|
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