Do you Want To Learn How To Buy Penny Stocks In 3 Easy Steps?
Today we will teach you how to buy penny stocks in 3 steps. This is going to be a great resource for you if you are just getting started with penny stocks or don’t know where to begin.
I really wanted to take things on from a complete beginners standpoint. There’s a lot of confusing jargon and sometimes conflicting information that can be confusing to a newbie.
If the conflicting information doesn’t confuse you than the simple volume of information will!
So with that in mind I wrote a little guide on how you can get started buying and trading penny stocks quickly and easily. I purposefully tried to avoid any confusing jargon so be sure to read up :)
From The Ground Up
When I first started I didn’t really know where to turn or what to do. I didn’t even know that I needed a brokerage account! So I wrote our 3 step guide as a way to simplify the whole process for you if you are just beginning.
The most important take aways from the article are that you need to figure out where you are going to open a brokerage account. I like and recommend Etrade, but there is also Scottrade, and TD Ameritrade among other options.
Access To The Internet
Once you’ve opened a brokerage you need to figure out how you are going to access it throughout the day while the stock market is open. When I first started I just used my smartphone and it worked out great!
Choose A Mentor
Not knowing where to begin myself I had to choose a mentor. As you will learn in the article, I pick the Penny Stock Egghead and Timothy Sykes from Profit.ly.
I’ve had a lot of success with them and see no reason that you wouldn’t as well. To get more information about them, read the reviews on Pennystock911.com as linked below
Timothy Sykes: -> http://www.pennystock911.com/profit-ly-review-timothy-sykes-from-profit-ly/
Nathan Gold: -> http://www.pennystock911.com/penny-stock-egghead-nathan-gold/
Figuring It All Out
At first it can be a lot to take in but over time you grow more comfortable with all of the jargon and ‘tech speak’ of penny stocks. There’s no reason that you or anybody else can’t get started trading shortly after this.
The biggest hurdles are spelled out for you in clear and easy to understand wording. I tried to write it so that a 6th grader could get started in under 24 hours, and I have faith that you are smarter than a 6th grader :)
An Important Question
There is one question I get asked from a lot of new comers and that is ‘How much should I start with?’
My answer: ‘Whatever you are comfortable with.’
It goes without saying that the more money you have to invest the larger your profits will ultimately be but it is also true that the more you start with, the more you risk on bad calls.
While I did give you some resources for two excellent stock pickers, let’s face it – nobody gets it right 100% of the time. It’s just not possible. So be controlled with your investments. Don’t put 100% into any one pick. In fact don’t put 25% into any one stock if you can avoid it.
Remember The Golden Rule
Always have a stop loss point. That means you should always have a limit where if the stock hits that limit you will sell and not look back.
It’s important to set these as they can prevent you from losing you butt on a bad call if and when one does come up.
All successful traders have one, and more often than not a failed trader forgets to set his or forgets to stick to whatever it was.
And That’s It!
Read the article and let me know what you think :) Good luck to all of you!