How to get started in trading penny stocks
First, try to pick 2 where you lose money. I am assuming you are willing to put a few minutes into doing things right. You should have sold when the shares hit your stop loss price. You can actually talk to one of these guys about their experience - they are drunk in the Las Vegas alley beside Caesar's Palace. Start Making Money Now.
If you don't feel impatient or bored at any point during Step 14, then you aren't doing it right. More about sentiment near the end of this video optional. If you made a bad call, the shares will have fallen. There are many places to generate ideas for potential investments, and you need to decide which ones to trust.
If I'm correct about your commitment, then you will make money from penny stocks for the rest of your life. Typically, the investor sentiment they are telling you will be useful when considered as a contrarian indicator. Look at all the stocks in the industry space s which interest you. Discard those that aren't working for you, double down on watching those that are panning out well. Pick a Loser That's Right.
Increase Your Focus Even More. Here's how to Paper Trade. Also, take a look at their recent annual and quarterly financial resultsavailable via most free stock market portals.
You must not blow all your cash on a single bad call Do not proceed until you have been successful at this stage. Remember, the number of potential investments is unlimited.
Do not e-mail, you should phone them. If you properly followed the steps up until this point, you should be an expert on that small handful of companies. Decide on Sources of Investment Picks. Pick a Loser That's Right. This step is for people who are serious about becoming great penny stock traders.
You do not want to be the joker who wins big the very first time they enter the casino. Yes, I wrote it. Increase Your Focus Even More. With penny stocks, the shares might have not moved at all in any direction.
Here's what to do now, which is basically a debriefing and results review. Anyway, paper trade until you can demonstrate that you would be making money. Increase Your Focus Even More. Here's how to Paper Trade. Congratulations on getting through all the stages.