You’ve heard people making money every day trading penny stocks, right?
When I say money, I’m not referring to just a couple hundred of dollars.
I mean good money, at least $10,000 in one day. Yes, this is exactly what I meant, there are people out there who are making lots of profits in one day.
However, attending this type of milestone is not something that happens overnight. Tremendous amount of work has been put through it before they are able to see the result of their hard work.
Making money trading penny stocks is possible, but do not lie to yourself saying it’s easy. Don’t listen to anyone telling you that as well because it is not.
Are you still wondering if you can make money like those people? Of course you it can happens to you given that you’re not lying to yourself.
Putting the work is all that’s required from you to attain such a success.
You too can make money…
No one was a penny stock trader guru, anyone can become one given that the basics are learned. It’s just that simple, learning the basics of trading can help you reach your goal which is to win big in this market.
Although you may need lots of time to study the patterns, it will be very rewarding to you afterwards. You won’t regret your time and hard work.
This is the secret to it all, you’ll have to put some time apart to learn the tricks. Penny stocks are dangerous, yes it’s not a lie, but many people are still wining more than they’re losing.
This should be your primary goal, to win more than you lose. There’s no one in his or her right mind that can say he/she had never lost money trading penny stocks before. Unless this person never trades penny stocks :).
Losing money is a part of all trading market that we have to deal with unfortunately. Keeping your loss to a bare minimum should be your target.
Don’t think you can trade and not losing because it’s impossible even for the gurus.
Emotion can cause you to lose
trading with emotion is something that we all tend to do. It’s not our fault that we do it but it’s something that we have to balance in order to be successful in this tricky market.
How can you trade without emotion? Although it may be almost impossible it’s not totally impossible. It’s something that you’ll have to train yourself to adapt with.
There are some software created to help traders who can’t control their emotion while trading, if you’re able to spend money on one you can also do so.
Automated stock trading systems use computers to monitor market conditions and make trades when stocks reach predefined prices. There is a software that connects to computers with brokers and it executes deals when stocks meet criteria. Beginning investors can benefit from this trading strategy as it eliminates emotions that may influence bad trading decisions.
You will get more information about this software in my next post, which should explain in details how it works.
Once emotion is out of the way, trading becomes more controllable.
Stop trading sub-penny stocks
stocks that are under a penny are the riskiest ones, if you are one of those traders that like to trade them in order to be able to buy lots more shares, you may be hurting your portfolio in the long run.
It’s good to have as many shares as you could but where you bought those shares from is more important. Acquired a couple hundred of shares from a good company is better than having thousands from a bad one.
Those stocks are the ones that suffers the most from the pumps. Since they have lots of room to increase in price pump scammers use that in their advantage to make money off of those who don’t know the trick.
Again refrain yourself from trading them and see that will change your day trading results. Always conduct your research, this is the most important part of trading. Without doing your research there’s no way to know where you’re putting your money.
Stop trading solely on your luck! We do need luck, but we have to help ourselves first before relying on our luck. Trade smart, hopeful these advises can be helpful to you.
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