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Trading Penny Stocks - Is This Gambling?
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I invest in the stock market for almost 5 years now. Having stated that, it wasn’t till I began trading penny stocks I was in a position to easily quit my 9-5 day job and trade stocks for a living. I know very well what you are thinking. how did you do it? correct? Please keep on reading on and I may actually tell you.
Not long ago I’ve browse a number of online content on numerous internet websites which make the statement that trading penny stocks is like gambling. As an active and really thriving stock trader, these types of statements irritate me as they don’t seem to be genuine for many traders who trade the OTCBB and pink sheets. Actually, far from it, I don't enjoy any sort of gambling since I get pleasure from earning money far more than losing them. I do not even like going to casinos, even though actively playing poker might be an enjoyment.
You will find some traders, to tell you the truth that trade penny stocks with all the exact same randomness as pulling the lever on the slot machine or rolling the dice. Nevertheless, these are often rookies in the stock market, and they usually run out of money really fast. Those investors that happen to be serious about generating revenue with penny stocks quickly master methods that allow them to do so. Plus they discover they are able to make a lot more money with stocks that trade for less than $5 per share than they are able to trading conventional stocks with a a lot larger market cap. I personally like to pursue the type of penny stocks that are on the verge of breaking out. I always lock in my profit as soon as I see fit. I am not a day trader but I get so greedy to miss out on out on locking my profit when I have the advantage to do so.
I also want to be completely honest with you. Penny stocks are notorious for presently being related with frauds. Some individuals manipulate the cost by promoting particular penny stocks in a less than truthful and unethical way. You most likely heard of “pump and dump” scams and it's actually critical that regardless of what system you utilize to trade these stocks that you are able to prevent most of these cons.
There are plenty of us that make a very great income on a consistent basis trading penny stocks. We now have uncovered options to attenuate possibility and steer clear of frauds. You’ll find effective stock traders like Peter Leeds who analyze penny stocks using methods comparable to the “fundamental analysis” utilized for conventional or blue chip stocks that trade at much higher stock costs and have much bigger market cap than penny stocks.
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