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Trading Penny Stocks - Would It Be Gambling?
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I invest in the stock market for almost 5 years now. Having stated that, it wasn’t till I started trading penny stocks I was able to easily quit my 9-5 day job and trade stocks for a living. I know very well what you’re thinking. how did you do it? correct? Please keep on reading on and I might actually tell you.
Not really long ago I’ve browse numerous online content on numerous internet sites which make the declaration that trading penny stocks is like gambling. As an active and really thriving stock trader, these kinds 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 do not appreciate any kind of gambling since I get pleasure from earning money far more than losing them. I do not even like going to casinos, although actively playing poker may be an enjoyment.
There are 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 usually 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 rapidly master methods that enable 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're able to trading conventional stocks with a a lot larger market cap. I personally prefer to pursue the kind of penny stocks that are on the verge of breaking out. I always lock in my profit as quickly as I see fit. I'm not a day trader but I get so greedy to miss out on out on locking my profit when I have the benefit to do so.
I also want to be totally honest with you. Penny stocks are notorious for currently being related with frauds. Some people manipulate the cost by promoting particular penny stocks inside a less than truthful and unethical way. You most likely heard of “pump and dump” scams and it is actually critical that regardless of what system you utilize to trade these stocks that you are able to prevent most of these cons.
You will find lots of us that make a very good income on a consistent basis trading penny stocks. We now have uncovered options to attenuate possibility and avoid frauds. You will 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 prices and have much larger market cap than penny stocks.
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