For me, my penny stock trading means I’m happy, but it’s NOT how I make a living, but I’m thankful that I enjoy it as a great hobby. It’s also not about the profits I see, it’s about having fun investing in the world with money that won’t destroy me if I lose on a certain list of stocks.
I spent 25 years as a financial advisor, but that was my career hatedand the pressure was just not for me.
Today, I am truly humbled as a published author and keynote speaker who joins others for positive results in life.
Now, at age 60, I like to think of all penny stocks as a must a toy around with to clear my mindas an outlet and entertainment, away from my writing career.
Let me show you how I do penny trading and give you some helpful suggestions on how I enjoy at a mini-price stock list.
As I move on here, let me say that a lot of people hear that I trade penny stocks and immediately become dismissive and may say, “Jim, that’s too risky.”
And you know what?
I might have agreed with them if I hadn’t had the opportunity to look deep into the cheap stock market and learn what I know now.
Before investing your hard-earned money into penny trading, it is very important to research the choices you want to invest in before you commit a cent.
Prospects are just names on a list that you’re thinking of investing in.
Learn about the Penny Stock Market
There are many ways to get mini stock value.
Browsing the Internet (blogs and online forums), joining a mailing list or following news.
The main idea behind buying these super cheap stocks is to make a list of about 4-12 quality options that are worth your time and effort, and of course your income.
Once you have a list of everything you’ve narrowed down to your choices, you’ll want to pick a couple of them.
You’ll need to go through your inventory and get rid of inventory that doesn’t meet your requirements, and this process can be time-consuming, but it’s worth it in the end.
The requirements I look for include – business history, business strategy, expert and people perspectives, monetary details, competitors, board of directors track record, company reports and broker offers.
I can quickly figure out if a certain number of penny stocks are worth buying.
Once my trade list is narrowed down to just a few stocks, I’ll ask for other people’s opinions to confirm my picks.
It is extremely important to listen to other investors because in many cases they will have something important to add to your research.
You may have missed important information that other financiers could have highlighted for you.
Now that I have 1-3 “to buy cheap cents” from my original list of 12, I am confident that I have indeed done my due diligence and am ready to invest.
I use this process every time I buy and so far it has been simple but quite successful.
Create a side fund just to buy penny stocks
Remember, before investing even a small percentage of your hard-earned profits into penny stock trading, it is very important to do your research on everything you think is reasonable before you go ahead and invest.
Again, a lead is just a name on a list that is not yet considered an important name in your mini cost selection.
I suggest sending out penny newsletters, that’s how I get the information and I love it!
A good newsletter almost always hits the spot, so in my spare time I make solid decisions to choose from.
A reliable newsletter saves me so much time because now I will add to my regular career as an author/keynote speaker has quite a busy schedule.
I’m not pressured by the necessary “Dig Deep” type of research.
It is a good idea to browse the web (online forums and blogs) or sign up for a chat line or a master mind groups and follow the news closely.
If you decide to trade penny stocks, make it fun and easy, and yes, still be serious because that’s the fun part.
I mean, make sure you’re investing money that won’t hurt too much if you lose a certain penny.
Let’s face it, a market is a market, but going in with the right attitude will make a world of difference.
All I can say is that it’s a lot of fun for me!
(I always suggest finding relevant articles about how penny stocks can be fun and get the whole range of things.)
To the pursuit of happiness and success with pleasure!