penny shares

laitey · 4 March 2005 at 1:09PM

Im wanting to deal in penny shares.
I know you can subscribe to companies which give you good tips on which companies to buy into.
Does anyone know of such companies?

deemy2004 · 4 March 2005 at 4:11PM

Forget the tip sheets

If you want to do penny shares then check yahoo or comdirect and use their tools to identigy low cap companies. Then check to see if any of these companies make a profit if they do then those are better bets than those that make losses.

FangKat · 4 March 2005 at 4:29PM

As mentioned Comdirect, but also Barclays do it too and with them if you trade more than 10 times a quarter (I beleive) then your charge is down to 7.50 ukstg per transaction. I play with penny shares just for fun (only use around 2k for this) - have found that the prices really are all over the place but movement is maybe only .10 or .12 of a penny, so to make it worth while because of charges for dealing seems to me you have to buy at least 15 or 20 k at a time. I am going on the basis of playing the market and possibly buying/selling/buying several times quite quickly. Obviously if you are looking to buy and keep for a while then that is another matter.
For instance this week you could buy say 20k of My Travel 10p for 5.75 and sell for 5.88 today - so pick up a few quid. It's good fun.

laitey · 4 March 2005 at 5:27PM

thanks for that

FANDABBY · 4 March 2005 at 6:33PM

The only person who makes real profits is the tipster selling his monthly tipsheet to you.Everyone of them has a promotion telling you about the 384% profit made from an unknown company which they discovered before anyone else.Following the tips usually means a big turnover of shares.The buying and selling eats away your fund.