I was first introduced to trading penny stocks when a friend in high school made tens of thousands of dollars day trading penny stocks over summer break.
This would have been around 1999/2000 and at the time trading online with TD Ameritrade was still a new concept.
I always knew there was potential to make money in the stock market with a small account but I didn’t know how. I decided to open my own account but I was trading stocks like CAT, IBM, and AAPL. With my $1k account I made about $17 dollars.
I was investing in the wrong stocks for big percentage growth. In order to grow a small amount of money ($500.00), we need to trade stocks that could double or triple in less than a week!
That’ll rarely happen with big companies like FB or NFLX, but it can happen a lot with penny stocks!