While it may sound intriguing, don’t fall for the idea that day trading penny stocks is going to be an easy way to make money quickly. This style of trading actually comes with a lot of risk and if you’re not prepared for it you can lose a lot of money quickly. Day trading requires time, effort, research and due diligence if you want to succeed and maximize your profits.
Newsletters can be a great resource because they focus on covering the ever-changing market of day trading. Finding quality day trading newsletters is key as they can provide you with a strong foundation and help you find good penny stocks and make smart picks. Continue reading
Using this list and the brief descriptions of the best online brokers can help you find the right broker to fit your needs. Since Day Trading Penny Stocks focuses on independent trading of penny stocks, I emphasize brokers that provide cheap online trading. However, I will also provide some full service brokers (which usually cost a bit more) for comparison’s sake.
It’s important to note the broker you choose can have a big impact on your overall stock trading experience. Some brokers offer more services and tools while other brokers offer limited tools and services but cheaper trades. It’s good to evaluate all of these things as you are choosing the best online broker for your needs. For some people cheap trades are more important, and for others the services and tools are more important. It’s a very personal decision that can impact your profits in this market. Continue reading
When you first begin your journey towards penny stock fortunes, I suggest you look for stocks within an industry you understand from previous unrelated experience. Consider your hobbies and interests and even previous responsibilities. Then create a list of companies associated within these areas of your knowledge. Then start collecting data and monitoring their chart performance without any intention of selling or buying penny stocks.
You want to watch for patterns in their chart behavior. You’ll notice companies in the same industry will exhibit some behavior similarities. Continue reading
As many of you who followed my blog probably noticed, I never fully fleshed out this new site when I moved here from my blogger blog. Did I just slack off? Well, maybe a little.
But the real reason for this was that I’ve undergone some intensive study of the penny stock industry in recent months that has led me to create some fundamental changes in the way I approach trading penny stocks and the way I feel about the industry. Continue reading