Sometimes people unfamiliar with Penny Stocks and how they actually work will avoid the best penny stocks because of fear, prejudice or because they have believed lies. Remember that some very major companies were started in dorm rooms, garages or basements. Can you imagine how you’d feel if you missed buying the next Dell, Apple, or Google?
Those companies were small once. Just because they were small didn’t mean they were scams, frauds or “pump and dump” operations.
There Are Fabulous Money Making Opportunities In Penny Stocks
There are many fabulous opportunities everywhere among the penny stock ranks that some investors and traders could retire on if they would just follow many of the same rules that make them successful in the large-cap, mid-cap and small-cap markets. The stocks are just smaller.
And, in fact, many of them are better managed than their larger cousins. They’d be out of business in no time flat if they engaged in some of the absurdities that larger companies will sometimes allow simply because they have a lot of cash.
That said, here’s my list of my 12 Best Penny Stocks Tips.
- If you can’t easily find information on a penny stock company, NEVER, NEVER, NEVER buy the stock.
- Make a “watch list” based upon the stock’s volume, fiscal stability, and good marketplace opportunity and positioning.
- Unless you subscribe to a service that you trust like Penny Stock Prophet, never buy anything that isn’t in your watch list.
- Always research the position that you want to take fully or outsource it through a service like Penny Stock Prophet. The stock you are thinking of buying must always be financially sound, well managed and “have prospects.”
- If you are an investor (not a trader) and like the company’s prospects consider buying shares from the company’s treasury if it is legal to do so in your country and state. You may save the commissions and, if you buy enough shares, they may sell them to you at a discount if it is legal for them to do so.
- Always make sure that there is a reason for the stock to move in the immediate future such as pending or realized news, significantly improved financials, a recent positive like a new, major contract or a string of new contracts that indicate a positive change in the company’s sales effort, etc.
- Unless you are using an advisory service that is recommending a position, only buy after a technical correction. Never buy after a correction that is caused by a negative shift in the company’s fundamentals.
- Never enter a position when the momentum has evaporated. I suggest you review literature on the subject.
- Always get out immediately if the value of your position is less than what the position cost without commissions.
- Always enter a trade knowing where you are going to get out.
- For every position you enter, ALWAYS put in stop loss order and an exit point sell order.
- Finally, if you buy a penny stock, never ignore your stock. Revisit its reports and news on a regular, frequent basis or whenever is appropriate in your world.
It is possible to invest in penny stocks. That’s pretty much what venture capitalists do and they usually make a ton of Moolah. They just have extremely strict rules about what they will and won’t back. Study what they do.
Myself? I’m a trader. That’s my psychology. I’ve learned to stay with my personal style. I think you should too.
Thanks for reading today’s post “My 12 Best Penny Stocks Tips.”
Go, Make a Fortune,
Al
P.S. Oops, I almost forgot.
If you will sign up for the Life-Time Membership in Penny Stock Prophet, I’ll give you a copy of my bonus package. Here’s what’s in it and how you can get it.
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One More Thing That You Need To Know About This Deal
I know that it can be intimidating and maybe a bit frightening to order something on the internet, especially if you don’t buy online very often.
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