Fastest Way to Double Your Money $

I received an email one time with someone asking: What is the quickest way to double your money? The fastest way to double your money is trading penny stocks. Penny stocks make large moves both ways and it is your job to spot trends and taker profits when you have them.  The key is taking profits and not being greedy. 

When I first started investing/trading stocks, I immediately focused on penny stocks.  I did a lot of studying and stock watching for about 3-6 months before I placed a buy on my first stock.  What was my first buy?  It was Communication Intelligence Corp. (CICI.OB), however, it traded on the NASDAQ under the ticker symbol CICI.  The year was 1999 and I placed $300 into my stock account.  I went all in on CICI because they had this online signature technology that was buzzing.  Keep in mind, the company since did a reverse split so if you go back to 1999 on the charts, it looks like a non penny stock.  

After holding it for several weeks, CICI dropped hard and I nearly lost everything. I could have made 20%. At that point, I was a little upset but I knew I would have to just keep trying.

After taking some time off, I put more money in and ended up staying even for several years but in 2003, I caught my first big break.  Along came Future Media (FMDAY), a UK media company.  I don't remember the specifics, but the stock was very volatile and poised to explode higher.  The trend was higher!  I sunk $12,000 into FMDAY and saw my portfolio double in several months.  The best part, I sold this time.  I then jumped in and out of more penny stocks and before long, the iPod came out and I began trading Apple.

If you want to double your money quickly, penny stocks are the way to go.  However, you can lose your money just as fast.  Only buy penny stocks that are hot, that have good news, and are going up.  Keep tight stops.  Don't catch a falling knife!

Tim

http://stockstobuy.org