Penny Stocks Today
Unlike other type of securities, penny stock is more regulated when it comes to available options because most of these stocks are not traded in regulated marketplace. When buying penny stocks, never put up all your investing capital because like any other security investment, you should never count on penny stocks to be part of your investment objectives. Start low, analyze everything and wait for results. The best way to start is to evaluate your financial state before investing in penny stocks today. If you have money that is not needed for other important things and something that won’t make a hard impact if you lose the amount, then try investing them in penny stocks; otherwise, wait for your financial situation to change.
Inexperience traders’ worst move is believing that cheap penny stocks can produce the best profit for them; likewise, high priced penny stocks will only gain a so-so amount. Trading does not work that way at all. It’s not just black and white. You have to study, analyze and learn the different strategies when it comes to trading investments, specifically penny stocks. What entices traders to invest in penny stocks is just plain simple: they cost less money but promise huge profits. But the real thing is it is also one of the good ways to lose your hard-earned money if you’re not careful.
Incidentally, there are many available apps now when trading with penny stocks that can also be used for your other trading investments. Penny stocks on Robinhood app is one example of this; however, there are tons that you can use. Likewise, there is also a plethora of cheap penny stocks available. Your homework is to research the best penny stock for investing. As a beginner, you can start searching in the list of penny stocks on NYSE. The New York Stock Exchange list is the best list to start with as it eliminates landing into being ripped off with your investments. Again, doing your homework is the key.
Top 7 Secrets to Trading Penny Stocks
You Do Not Need a Large Trading Account to Trade Penny Stocks
Trading penny stocks can be done with an account size of $500 or more. One of the best brokers for penny stock trading is Think or Swim by TD Ameritrade. Since penny stocks are cheap to buy you can get away with a much smaller account size. However, having a larger account can be advantageous when trying to minimize fees and commissions that come with brokerage accounts.
Not All Penny Stock Newsletters Have Your Best Interest in Mind
A large majority of penny stock newsletters are paid by the stock picks they send their members. This is a huge conflict of interest and should be avoided at all costs. Websites like StackedBid.com are never paid by any third party to alert picks. The trades posted at Stacked Bid are actual trades being made by the StackedBid team or the pro traders in their chat room.
Beware of Penny Stock Alerts
If you ever receive a free penny stock alert be very cautious. This is most likely a paid pump and dump. The only penny stock advice you should consider is advice that you are paying for.
Penny Stock Investing Can be Incredibly Lucrative
There are people who say that penny stocks are too cheap to make any money trading. In reality there are countless traders out there who have become millionaires thanks to penny stock trading.
Penny Stock Chat Rooms are a Great Resource for New Traders
The StackedBid Chat Room has 6 pro traders in it every day. The pro traders share their watch lists, trade ideas, and market outlook with all of our members. This information is very valuable for a new trader. Watching veteran penny stock traders every day is a great way to become a good trader quickly.
Penny Stock News Matters More Than Fundamentals
Penny Stocks tend to move based on news and hype and not fundamentals like cash flow and balance sheet. When you invest in a penny stock you are investing in a company that is small now but may get big eventually. Do not look for good fundamentals when trading penny stocks because you won’t find any.
Learn How to Use Level 2 Quotes
Level 2 Quotes show traders the depth of supply and demand for a stock. The quotes will show all the market makers and how much they are willing to buy or sell. It is almost impossible to trade penny stocks without this resource.
Do You Want to Make Penny Stock Trading Your Full Time Job?
The New American Dream doesn’t involve a steady paycheck from a big company at all. Now people are dreaming about controlling their own income and most importantly, controlling their own TIME. Time has become the most valuable commodity in the world. Why work for 40 hours per week when you can make the same amount of money trading stocks for 20 hours per week and spending the remainder of time traveling or doing activities you love? This is the mindset of the New American Dreamers. We want flexibility, time, and money and we want to control it all! You may feel like your salary job is stable, but who really controls how much you make or if you work at the company at all? You? No.
Becoming a successful penny stock trader gives you REAL control over your time, income, and destiny. This is why people love trading and this is why we have made it our mission to help people accomplish this goal.
But….trading is hard. Trading full time for consistent profits is a difficult goal otherwise everyone would be doing it. Our advice is to enlist help. Don’t try to take this challenge on all by yourself. If you really want to make this happen you will need some guidance. There are a lot of websites out there that charge $200, $300, or $1,500 for a training course on how to pick stocks. We recommend visiting Stacked Bid where you can find a chat room full of pro traders, daily stock picks, and a nightly watch list with all the hot trade ideas for the next day.
Below is a Message We Received From One of Our Members……..
“My favorite part of the StackedBid website is the Chat Room! In my case this is the most important feature because I hold full time job and I can’t browse stocks continuously. Therefore, on my break, all I have to do check with the Pros in Chat Room and I’m plugged into real time stock ideas and information. The best part is the Pros take the guesswork out of stock picking and that’s 90% of battle. The spotlight stock picks and StackedBid team trade picks are also amazing addition to the chat room.
The reason I joined “Stacked Bid” is because I am brand new trader and my portfolio was bleeding terribly because of lack of information. Lucky I ran into this site and since I’ve been here, my account been in the GREEN! And the Beautiful part is, one of my trades paid for the entire year of my Stacked Bid membership!
Finely, if you are New, Experienced, Part-Time or Full Time, we all need help at some point, so stop the bleeding of your Portfolio and join in! Come in and say hi!”
How to Get Started Trading Penny Stocks
It is important to read a great book like Penny Stock Trading for Dummies. It also helps to join a chat room so that you can learn from other pro and part-time traders. You need to obtain as much information as possible so that you can protect your hard earned money from the stock market.
Start trading in a practice account. Think or Swim is our favorite trading platform for practicing trading. They also have low fees and free level 2 quotes and charts. Both of these things are very important when it comes to learning how to trade successfully.
When you have read a book or two, subscribed to a high quality chat room, and made some practice trades it is time to jump in the water and start swimming. Start with small trade amounts at first so if they go bad you will not lose too much money. Trade with small amounts until you start to feel comfortable and then gradually increase the amount of money you are trading with.
Do Not Get Discouraged
All traders lose money sometimes. There is nothing you can do about it and it is just part of the learning process. The best traders are the ones who are able to learn from their mistakes and not make the same mistakes the next time!
Are Penny Stocks Worth It?
After you’ve done your homework, ask yourself if you still want to trade in penny stocks. Many have made huge profits with it but if you’re the type of person who can’t sit tight to research and analyze, then trading in penny stocks today is not for you. This is not what they call “easy money”, as it requires attention from you. Yes, you can gain profits with your investment but this is also a good way to lose your money.