Getting tired of useless investment advice from gurus with no results? Want to find the best professional advisor on hot penny stocks to buy?
If you answered ‘yes’ to either of those questions and feel that your current operation is reaping little to no reward, then it’s time to put your pencil down and learn to buy penny stocks online. There is a great world of penny stocks ripe for the picking, and I’m here to help you find the juiciest fruit.
Before entering any new investment opportunity, it’s important to understand and respect it. Penny stocks carry high risk, but they can have even higher rewards if you learn how to play the game. I know firsthand how how penny stocks create millionaires, so here are some of my best success secrets and bits of advice for you to buy penny stocks online and make millions:
1. Do Your Research
Don’t know what penny stocks to buy? I recommend doing your research on each and every company prior to investing. Some important factors to look for are those that relate to the reliability and the longevity of the company, such as their financial records and statements. In some cases, you will be able to review financial statements released by the company and cross-reference them with written reviews done by others.
If a company has not - or will not - disclose their financial documentation, and if they have been reviewed in any negative capacity, then consider exploring other options. There are thousands of stocks in the investment space from which to choose, so make sure you take the time to find the penny stock that is right for you to buy.
2. Beware of Penny Stock Scammers
Take a moment to think about how many emails go to your ‘junk’ folder in a day, a week, or even a year. Tens? Hundreds? Maybe even thousands? You don’t receive these messages by accident; many of your spam messages are - surprise! - a scam. Your email account might do a pretty good job of filtering out the bad apples, but the stock market won’t make it quite so easy for you.
Make sure you remember this notion as you browse the web for the right penny stocks to buy. If a stock receives questionably high praise from an overenthusiastic source, but it doesn’t match up with your research, then keep looking. As I mentioned, there are plenty of penny stock investment opportunities out there, so don’t settle for a scam.
3. Watch Your Stock
Once you have found a penny stock that is right for you, be sure to check in on it regularly. As you buy more and more penny stocks online, you will need to have a system in place to keep track of your stocks. The market can - and will - fluctuate, so monitor and record the nature of your stocks on a regular basis. When keeping tabs on your stock, don’t read into the news too much - it might not be telling the whole truth. Listen to what the market is telling you. I’ve said it before, and I’ll say it again: the market is always right.
Don’t be afraid to cut your losses quickly if a stock is heading south. Your stocks need to stay in the green; if they don’t, then it’s time to let them go. Keeping tabs on this might have you fused to your computer or tablet throughout the day - especially if you pool together multiple stocks - but when you consider the potential for reward, it’s worth it.
4. Know Your Goals
If you’re an athlete, you rarely enter a race without at least picturing what the finish line looks like. Consider your penny stock strategies in a similar light. Go into your stock search with a path or a goal in mind; it could easily change throughout your journey, but at least you’ll have a vision to go back and reference. Are you in it for fun on the side, or are you interested in developing your penny stocks into something greater?
Just keep in mind, you won’t necessarily hit it big right away, so don’t go for too much too quickly. Some ‘penny stockers’ have created penny stock hedge funds - myself included - based on their successful stock strategies and clear goals, so know what you want and go after it. In the world of penny stocks, anything is possible.
What does all of this boil down to? Well, above all else in the penny stock market: be smart. Buying penny stocks online is high risk and high reward, and you can see from my own experience that the rewards can be truly bountiful. In order to limit your risk and maximize your reward, do your research, know your market, cut your losses, and always keep an eye on the trends within your stocks. It’s okay to adjust your goals from time to time, but be sure to always have something you’re working towards. You’re ready, and the fruit of the penny stock market is ripe. Start picking.
Also, here is more information about Tim Sykes.
Jason Bond is another successful trader whose advice you ought best to heed. The best thing about him? He's open to mentoring you to become the best penny stock trader you can be. You can sign up for his Millionaire Roadmap program and actually look over his shoulder as he does his thing! Learn more about this and Jason Bond's other learning programs here.