For me my trading penny stocks means I am happy, but it is NOT how I make a living, but I am grateful that I enjoy it as a great hobby. It’s also not about the gains I’m seeing, it’s about having fun investing in the world with money that won’t destroy me if I lose on a particular penny stock list.
I spent 25 years as a financial advisor, but it was a career that hatedand the pressure just wasn’t for me.
I am truly humbled today as a published author and keynote speaker joining others for positive results in life.
Now, at 60, I enjoy looking at all penny stocks as something to toy around with a clear my mindas a outing and some fun, away from my writing career.
Let me show you how I trade pennies and I’ll give you some helpful hints on how I’m enjoying my mini price common list.
As I go along here, let me just say that a lot of people hear that I trade penny stocks and they immediately become dismissive, and they may say, “Jim, those are too risky.”
And you know what?
In fact, I might agree with them if I hadn’t had the chance to look deep inside the low-cost stock market and learn what I know now.
Before you invest your hard-earned money in penny trading, it’s crucial to research the picks you want to invest in before spending a penny.
Leads are just names on a list you’re thinking of investing in.
Learn About the Penny Stock Market
There are many ways to get mini-cost stock picks.
Browse the Internet (blogs and online forums), join a mailing list, or keep an eye on the news.
The main idea behind buying these ultra-low price stocks is to develop a list of around 4-12 quality picks that are worth your time and effort and of course your income as well.
Once you have a list of all the options you’ve narrowed down, you’ll want to pick a couple of them.
You’ll need to go through your list and get rid of the stock that doesn’t meet your needs, and this procedure can be laborious, but it will be worth it in the end.
The requirements I look for include: business history, business strategy, specialist and individual views, monetary details, competitors, board history, company reports, and broker suggestions.
Using the variables
I can quickly figure out if a particular number of penny stock picks are worth buying.
As soon as my list to trade is down to just a few stocks, I’ll solicit other people’s opinions to validate my selections.
It is extremely important to listen to the opinions of other investors because, in many cases, they will have something important to add to your research.
Possibly you missed an essential piece of information that other financiers could highlight for you.
Now that I have 1 to 3, ‘to buy pennies on the cheap’, from my initial list of 12, I am confident that I have really done my due diligence and am prepared to invest.
I use this process every time I shop and so far it has been basic but quite successful.
Set up an additional fund just to buy penny stocks
Remember, before you invest even a small percentage of your hard-earned income in penny stock trading, it’s crucial to look at everything you think might make sense before you choose to go ahead and invest.
Once again, a lead is just a name on a list and is not, yet, considered a valuable name in your mini-cost options.
I suggest a penny stock newsletter, which is how I get my information, and I love it!
A good newsletter almost always hits the mark with suggestions, so I make solid selection decisions in my spare time.
A trusted newsletter saves me a lot of time, because I’ll add my normal career now as a keynote author/speaker who keeps a pretty hectic schedule.
I’m no longer under pressure for the necessary type of “Dig Deep” research.
Surfing the web (online forums and blogs), is a good idea, or signing up with a chat line gold mastermind group and keeping an ear and an eye out for the news.
If you decide to venture into penny stock trading, keep it fun and simple and, yes, stay serious, because that’s the fun.
I mean, make sure you’re investing money that’s not going to hurt too much if there is a loss on a particular penny.
Let’s face it, the market is the market, but going in with the right attitude will make a world of difference.
All I can say is that it’s a lot of fun for me!
(I always suggest finding related articles on how penny stocks can be fun and getting the full scope of things.)
To find happiness and success with fun!
