Are Penny Stock Trading Robots Real?
The FUTURE Is HERE – Robots Trading Penny Stocks
I couldnt believe what I was reading
It was a cleverly crafted website talking about a penny stock trading robot.
Really?
I had to check my calendar to make sure I wasnt sucked into a time warp.
My jaw hit the floor as I read about these two computer nerds who developed a program to make money in the stock market.
The claims were crazy, and the results (supposedly) life changing.
The robot would scan the markets and analyze chart patterns then create a watch list of penny stocks. Penny stocks that can make you rich!
Im a skeptical person from the get go and to be honest, this story just has too many holes in it.
The Problem with Robots Trading Penny Stocks
Heres the problem
Goldman Sachs and the other Big Banks spend millions of dollars a year looking for ways to improve their trading by tiny fractions of a percent. Tiny improvements mean millions and millions in profits.
They have PHDs and MBAs and really, really smart people on their staff.
Their one goal find ways to make money in the market.
Two computer nerds just developing a program in their basement no way others would have done it first.
Second, these programming geniuses were offering to sell you access to the software.
Hows that logical?
If you have a secret thats going to make you a BILLIONAIRE in just a few months why would you share it with anyone? I wouldnt and neither would you
Finally, the straw that breaks the camels back
Ok, honestly I never believed, but heres the last waiving red flag the robot was looking at chart patterns. And as any penny stock trader knows, most penny stocks are very thinly traded so the prices (and patterns) can be easily manipulated.
How do you think Pump & Dump scammers get attention for their prey?
Stock manipulation is real especially when you have cheap penny stocks with thin trading volumes. A few thousand dollars and you can make a penny stock dance like a puppet on a string.
But thats not the only reason I dont trust penny stock picking robots
The COPS Arrest The Penny Stock Trading Robots
Thats right, the authorities got involved
And the robot got arrested well not really there was no robot.
As Forbes reports, the robot was a scam invented by two teenage boys who scammed investors out of $1.2 million!
The robot was a fake, the software never existed, and the picks the boys promoted were actually paid promotions.
Thats right the pump & dump scammers teamed up with the two boys and paid them $1.8 million to promote their own stocks.
Talk about scum.
You can read all about the fraud here on the Forbes website:
The sad part about this story despite being closed down in 2012, some sites still talk about the famous penny stock trading robot I found them with a few seconds of web research.
Its a story that may never really go away.
Sorry Dorothy, there is no Penny Stock Trading Robot
Profitably Yours,
Penny Stock Research
Category: Penny Stock Alerts
