Author Topic: Red Hot Penny Shares.  (Read 6253 times)

Orca

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Red Hot Penny Shares.
« on: August 20, 2014, 09:00:24 pm »
Making money with RHPS is a myth. I started off with subscribing to this junk when I saw their brochure.
They start with this hypothetical explanation of how you can retire within 3 years with a minimal amount.

1. Had you bought shares in X at 20c on this date, and sold 6 weeks later, you would have made a gain of 180%.
2. Now, had you bought Y at 55c with your gains from above and sold 12 days later, you would have made a further 70%.
3. You have now made 250% profit in 54 days. Now if you bought Z with all your profits at. ......
This carries on until you could have made thousands of percentage points profit.

Looking at the charts that they also add in the brochure, you will see that all the Buys and Sells are at the very low and very high points. So it is hindsight and hypothetical.

So I started off with Alert steel. Recommended by them to buy but not when to buy.
Took me many days to find a seller at my price after increasing the buy price a few times to attract the fish to my bait so to speak.
What a disaster when I tried to sell at a profit. Took me 3 weeks of constantly shuffling the price to eventuality sell at a loss.

Needless to say that all their further "tips" went in the round filling cabinet at my feet.
I started here with nothing and still have most of it left.

Shi

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Re: Red Hot Penny Shares.
« Reply #1 on: August 21, 2014, 10:06:51 am »
Many novice investors get duped by them - this often puts them off for life. RHPS gives the public a warped idea of what investing is all about.

Moneypenny

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Re: Red Hot Penny Shares.
« Reply #2 on: September 01, 2014, 09:30:19 am »
I also had to sell Alert at a loss.

Alsie

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Re: Red Hot Penny Shares.
« Reply #3 on: September 01, 2014, 11:15:49 am »
I also had the same experience. Every red hot tip ended in a loss.
I therefore distanced myself from them years ago.