Hello, I see a lot of great advise on here and I figured I would start a thread with a few general questions I haven't been able to find answers for.

1) I realize most Penny Stocks are very volatile and make for horrible investments. Out of curiosity I started signing up for "Penny Stock" Newsletters and following the "Penny Picks" of the day. What stops somebody like me from buying the stock at the open and selling it after it goes up 10-25% (usually within the 10-30 min)?

Obviously it's not an investment strategy but I was wondering how and if people make profit from turning these stocks. That leads into my next question...

2) Is real-time trading software necessary for day trading? Is it possible to merely day trade with Limit Orders?

3) I'm approved for covered calls on my account. However, it seems that making profits on covered calls for stocks is limited without 1000+ shares. For example I would make maybe $20-$40 for a reasonable cover call for 100 shares. Is it wise to invest in companies you like with writing covered calls in mind? For example, if I can slowly build to 1000 shares is it unfeasible to write options on much of the stock hoping to pull maybe $200-$400 every couple months?

4) Does anybody write covered call for companies under $10? I'm just researching it but most of the stuff I read focuses on INTC or MSFT. Is it profitable to write covered calls for cheaper stocks or does the risk outweigh the fairly tiny reward?

5) Where do your best tips come from? Is it reading charts? "Insider" type information?

I feel like I have a grasp on the basics of investing, I'm just looking for tips to maximize possible profits and do a little penny gambling with some extra investment money. I'm thinking of joining SFB for the trial period but I'm not sure if it is right for me. I can generally pick strong companies to invest in long-term, but I'm just dipping my toes into short term investing.

Thanks for your time.