Online Penny Stock Trading
Everyday it seems to be a new website that states that they can help you increase the size of your portfolio. If I had a dollar for every time I heard that line, I’d be a millionaire. Most of them revolve around buying penny stocks since many people are looking for the next Apple or Google.There are many different sites that can help you increase your ability to understanding the stock market better, But only you can be responsible for your portfolio when it comes to increasing it’s size.
Online penny stock trading has been a big favorite among the home-gamers trying to make it in the stock market. I’ve said it before and I will continue to say it…You can make a boat-load of money in trading penny stocks, but you can lose it just the same. I’ve watched stocks go up 30%- 150% in just one day, only to see them come down to even lower levels the next day. Yes, some people did make money, but only the ones that were aware of the situation to sell on the first day.
To make matters worse, it seems that some of these penny stock sites will go ahead and inform you that a stock they’ve been following has climbed 40% or better (but if you’re like me and doubt many different trading strategies offered on the web), you’ll might see that they really didn’t start announcing their praise until the stock in question had already rose in value. If you don’t do your research and your homework on any stock you want to buy, you can’t blame anyone but yourself for the consequences. If you fell for the hype that some of these websites spew out on a daily basis, you will have lost most (if not all) of your money.
Take into consideration that even a broken clock is right twice a day. These websites will at times get it right and pick a company’s stock that will climb by leaps and bounds. If you get in at the right time, you will profit from their recommendation.
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Big Money In Buying Penny Stocks
You can make big money buying penny stocks. I’m sure you’ve heard that many times from different types of people and websites. There is truth behind that statement, but that’s just half it. I’ve made more money percentage wise with penny stocks compared with mid-cap and large-cap higher price shares. That doesn’t mean that I made more money with them though.
When you come right down to it, there’s a law of averages that you need to think about.
Just recently I bought Sirius/XM Satellite radio (NASDAQ: SIRI), for $0.05 per share and took it up to $.50 per share in just one month. That is a a gain of 900%. Those types of percentage gains can only be done with penny stocks. The reason I said that I haven’t made as much money with these type of stocks is because a year earlier I bought into a stock at $2.94 (cost average) and watch it drop down to below $2.00 in no time at all. I had more of a stake in that company than I did with the more recent one.
I’ve said it before and I’ll say it again, you need to look hard at any company that are thinking of investing or trading in. Look at their balance sheet, their debt-to-earnings ratio, listen in on the conference calls when and if they’re available. If you don’t and end up losing a big chunk of your investments, you have no one else to blame.
They are plenty of people out there that say that they can “show” you the way to picking penny stocks, but the truth of the matter is that you pick penny stocks the same way you pick any publicly traded stock, you do your research into the company first. If you can’t do that, then you shouldn’t be buying stocks in the first place.
I’ve been watching Sirius for quite some time and the reason I got into the company was because I knew that the company would find the financing that they needed. I also know that this company isn’t going anywhere anytime soon.
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A List Of Penny Stocks
Buying penny stocks seem to be easy to do and in a sense it is, but the hard part is trying to pick the right ones to make a profit. There are many sites out there in the internet world that offer you a list of penny stocks and all you have to do is give them your e-mail.
If you really think about it for a minute, why is someone that you never met and most likely never will, want to give you a list of penny stocks that he recommends for no charge? What a great guy that he would want to help total strangers make money in the stock market and do it at no cost to you.
Because in a sales pitch like stock trading you have to give away something to get the person to see if you know what you’re talking about. Trading in penny stocks is big money for brokers and the houses they work for.Why is it that penny stocks seem to be a big thing within the stock market? Well actually they’re not as big as you may think in regards to owning the shares. The smart money ( the pros of Wall Street) don’t buy and sell penny stocks, there’s too much risk involved. Instead if they want to get into a company that has it’s shares at penny stock levels, they’ll actually loan them the money with interest.
They may seem like a big thing to you and others that you may speak with, but not when it comes to the smart money on Wall Street. It’s the amateur trader and the day trader that wants to trade in penny stocks on a regular basis. The reason for that is that they have the reputation of having big percentage gains (or losses) in any given day. You can make (or lose) a load boat load of money real quick.
If you’re looking to get a list of penny stocks and plan on buying and selling them, be careful, it can cost a lot more than just a few pennies.
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