When it comes to penny stocks, you need to make sure that you have all the tools at your fingertips if you want to succeed. This, of course, also means having the right online broker, as you will require a service that provides low trade fees and low account fees. In addition, to an online broker, you will also need a bunch of other necessary tools if you want to give yourself an edge. These tools include research tools and forums that will allow you to interact with other investors and learn about the most recent trends. In this article, we will be discussing 4 useful tools you can use to benefit your penny stock trades.
Stock Promoters
Although many people hate stock promotors for their deceit and ability to manipulate penny stock prices, they can be quite useful from time to time. If you know how to study them you can work out when a pump and dump scheme is happening, allowing you to ride the manipulation and sell before the stock crashes and burns. With Stock Promoters, you can check out the latest stock promotions to give you an idea of the local schemes going on. If you plan it right, you might be able to make a profit. It is good to not believe what you read on this platform though as it is designed to make you invest.
OTC Markets
As with any stock, research is incredibly important if you want to make sure you’re making quality trades. Although online brokers offer a good level of research with their third-party providers, it is always good to have a second source. OTC Markets is a great place when it comes to researching penny stocks that you might be interested in. OTC Markets provides a place to research all the OTC stocks that are not on the normal boards. They allow you to check press releases, current markets and tell you the price and valuation of specific penny stocks.
EquityFeed Scanner
Finding penny stocks in the first place is actually very difficult. This is because of you have to filter your way through the scams and the mess that is penny stocks before you find a winner. You have to know where to look and what to look for if you want to have some success. To speed up the process, investing in Equity Feed is a smart idea. They provide a platform that allows you to find/discover amazing stock opportunities that you may have missed. The platform is very cool and we suggest you check it out.
InvestorsHub
You may have noticed with some of the online courses that they often include a chatroom in their offer. This is a fantastic thing to have as it puts you in front of some big traders and allows you to pick their brains and learn on the go. Some of you might be out to learn the game yourself and may not have the budget to invest in one of these online chatrooms. The next best thing would be the Investor’s Hub forum. This is a forum where investors come and discuss ideas and stocks. It is full of great advice and knowledge and is free to join.
Conclusion
When it comes to investing penny stocks you need to make sure you have all the equipment and kit available. Honestly, it will make your job so much easier. Many new traders will go in and try to trade blind without any real knowledge of what they’re doing. When you do this, you’re setting yourself up for failure. Do yourself a favor and Invest in the gear. With the right equipment and knowledge you will find profit 10x quicker.