Any one know anything about penny shares.

glitter58

I have decided to risk £300 and buy penny shares as I know someone who does this every year and has doubled their money 4 years out of 5.
What I want to know is can I just give the £300 to a someone ie: a broker and tell them to buy penny shares and sell when necessary or do I need to do this myself.
I know I sound dumb but I have never done this before except for tesco shares which is SAYE.
Oh I did buy 117 shares in dragon oil a few years ago and now worth x 2 what they were when I bought them.
Any tips on what to buy would be most welcome.:D

ManAtHome

Sounds like you could just ask your mate what (s)he invests in - very few brokers would be anywhere near a 100% profit 80% of the time.

cheerfulcat

glitter58 wrote:

I have decided to risk £300 and buy penny shares as I know someone who does this every year and has doubled their money 4 years out of 5.

Have you documentary proof of this? If not, I would be very sceptical of those supposed results.

What I want to know is can I just give the £300 to a someone ie: a broker and tell them to buy penny shares and sell when necessary or do I need to do this myself.

You'd need to do it yourself but it's really too small an amount even for that; taking into account dealing costs, tax and bid/offer spreads ( usually huge on penny shares ), you'd be doing very well indeed just to break even.

Bear in mind too that penny shares are frequently penny shares because no-one wants them.

splodge77_2

I would read an article like this first to see who should and who should not invest in penny shares http://www.cityequities.com/en/About-Us/Key-Facts.html

Biggles

glitter58 wrote: »

I have decided to risk £300 and buy penny shares as I know someone who does this every year and has doubled their money 4 years out of 5.

Not saying it's untrue but it's very unlikely. It's even more unlikely that you will emulate that feat without any knowledge. Especially when, with such a small starting bank, you've got to recoup the dealing costs of maybe 10% or possibly far more before you even start to make a profit.

What I want to know is can I just give the £300 to a someone ie: a broker and tell them to buy penny shares and sell when necessary or do I need to do this myself.

You need to tell your broker what 'penny share' to buy and when, also when to sell. So you need to know exactly how you're going to select your share(s) before you do anything.

There's nothing magical about so-called penny shares. Some go on become 'ten-baggers'. Far more go bust. Only invest your £300 in these shares if you are prepared to wave goodbye to it.

Aegis

Thread necromancy!!!

MABLE

A fool and his money soon part.

Biggles

Aegis wrote: »

Thread necromancy!!!

B*gger.........

What's Splodge playing at?

artha

glitter58 wrote: »

I have decided to risk £300 and buy penny shares as I know someone who does this every year and has doubled their money 4 years out of 5.
What I want to know is can I just give the £300 to a someone ie: a broker and tell them to buy penny shares and sell when necessary or do I need to do this myself.
I know I sound dumb but I have never done this before except for tesco shares which is SAYE.
Oh I did buy 117 shares in dragon oil a few years ago and now worth x 2 what they were when I bought them.
Any tips on what to buy would be most welcome.:D

I was bought some dragon oil shares by my mother some years ago (£10 worth). How do you check the current value? Dragon Oil shares are currently qouted at about 4 euros but I,m assuming that these are not the original penny shares?

opinions4u

High risk way to lose all your money - so treat it as a hobby not an investment.

mrwarrenjones

FTSE Small Caps maybe worth a look at then; Im going to have a punt on Fortune Oil (FTO).