Web Statistics 5 Penny Stock Trading Tips for Beginners

Tuesday, 6 September 2016

5 Penny Stock Trading Tips for Beginners

5 Penny Stock Trading Tips for Beginners If you are new to the world of penny stock trading this just may be the best article you will ever read. In it you will discover 5 tips that will help you cut your learning time in half and minimize any potential losses. Here are 5 penny stock trading tips every beginner should keep in mind. #1 – Invest In Your Education The more you know about penny stock trading the further you will go. That's why Investing in your education should be your number one priority. Find people who have been successful in this arena and learn as much as you can from them. Keep in mind only about 10% of penny stock traders are making a consistent profit. You should therefore choose your teacher very carefully. Look for someone who is transparent and open about what they are doing. #2 – Don't Believe Everything You Hear Penny stock promoters will say just about anything if it gets you to invest in their product. Just know that most of them are full of you know what. Never believe everything you hear. Do your own research and make sure you understand the realities of penny stock trading before you dive in. #3 – Don't Chase The Big Wins Penny stock promoters love to tell you how quickly you can grow your money. And while it is possible to double or even triple your money on a single play, chasing big win after big win is not a profitable strategy. Focus on making $0.50-$0.75 a share and you will eventually find yourself making decent money on a daily basis. #4 – Respect The Risk Penny stocks are extremely volatile. A stock can be riding high one minute and in the tank the next. Things can literally change in the blink of an eye when you are trading penny stocks. That's why it is so important you respect the risk. Take your profits and losses quickly and never commit too much of your portfolio to a single play. #5 – Track Your Moves In A Trading Journal As a beginner tracking your moves in a journal just may be one of the smartest things you ever do. Being able to refer back to various trades can help you constantly improve as a trader. The most successful penny stock traders are very methodical in their approach. They never trade on a whim. If your goal is to be successful you need to do what they do and track all of your moves in a trading journal.


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