You’ve even researched it. Which may be why you were brought here to this site.
But what do you really think about penny stock?
Do you think it’s a game of gamble?
Keep reading to find my input on this topic.
Many penny stock traders are trading penny stocks full-time. When I say full-time I mean it’s their primary job, they’re not working a 9-5 job somewhere else.
There’s no need for that because they know what they’re doing.
They wake up early every morning before the stock market opens, they continue doing their research on the stock they will be trading for the day.
They don’t do like many of the unsuccessful traders who keep losing money on a daily basis by not researching.
They start conducting their research days prior to actually invest their money. They’ve actually invested their time first in the stock and then they invest their money after having conducted their research.
This is exactly how it supposed to be done; nonetheless, many others don’t feel the need to do that. Instead they trade just by what they hear from other traders.
So is penny stock trading a game of gamble?
No, I don’t think it’s gambling because it’s just not gambling. If it was gambling no one would be able to become a millionaire just by trading penny stocks.
I’ve never heard of that from someone who’ve been going to a casino everyday. Have you ever heard of a blackjack player who turns $12,000 into a million?
I have not heard of that, but if you have don’t hesitate to share that with us in the comment section.
Jeff Williams from PennyPro sent me an email yesterday showing me how some of his students have done well for the day.
Let me get this out of the way first. I don’t have any connection with him or his educational system whatsoever.
I’m using his data as an example to support my opinion in this post. That’s all it is, I’m not marketing for him nor his program.
His email was composed with the amount of money his students made for that particular day and from which stock they made the profits. Very interesting, right? Below is the list:
10:06 am cookie : out dust 6.91 from 6.60 + $1,500 gains
09:59 am steve hig.: 3/3 +$270 goal met may rest a minute (30 minutes into the market day)
10:12 am Marco B: out DUST 6.87 + $560 gain
10:28 am patrick rob.: s/t in RXMD in .0224 out .0266 + $530 dollars
11:24 am Greg B: Out FREE at .13 +30% +$900
12:22 pm gregory bab.: Out FREE @ .139 from .127 +$210 profits
09:22 am gizmo7 : CTIC .22-.32 $800 in past 30 min
10:33 am dctrader : out of UWTI at 1.51 from 1.32 entry
10:34 am Greg B: Out UWTI at 1.51 from 1.345 +$2,475 gains
Although he did not share the losers with me, I had a good idea as of how some of his students did. With that been said, if those students are able to make such profits in one day, why would someone refer to it as pure gambling?
Why do some people believe penny stock trading is gambling?
Anything we’re doing in life has to acquire its true identity or meaning from us. For example, if you’re a soccer player and you never practice.
But you want to play for your team when the game’s day comes, there’s no way you will give a good performance.
It’s the same thing for penny stock trading. If you don’t educate yourself and you’re just trading any stock that falls under your finger. How could you not say it’s a gamble?
I would say the same thing, I would call it straight gamble. Anything you’re doing and doing it by relying only on your luck should be referred to as gamble.
From that same email that I got the data from and share with you, Jeff Williams also talked about the importance of educating yourself for this market.
If his students were not educated about the penny stock market, there’s no way they would have been able to make profits like that.
There’s no such thing as get rich quick in penny stock trading. All those people who are so rich right now from penny stock have done a tremendous work before they were able to reap the fruits of their hard work.
If you can’t do the hard work, then I’m sorry to say it, you won’t be able to make it like they’ve done it. But if you’re committed to be successful, you can do it just like they did.
Penny stock trading has many different names. Some people call it day-trading, some call it Over-The Counter, and others even call it gambling.
Out of these three names, I would not agree with “gambling.”
Penny stock trading can be gambling only if you have the mentality of a gambler. But if you want to trade for investment purposes, you should be able to make money trading penny stock.