Penny Stock Fortunes: How to
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| Ralph Waldo Emerson |
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Emerson knew what he was talking about. The advice is especially true when talking about this form of investment. Most penny stocks found outside NASDQ or NYSE are unregulated, thus making them extremely vulnerable to pump and dump scams.
If you have a sufficient amount of Risk Capital (money that you could lose and not miss), then penny stocks might be something for you to try. Before you can trade any penny stocks, you need a broker and broker commissions on buys/sells can be large and are often subject to price manipulation due to the small trading volume.
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Penny Stock fortunes can be rare... however...
You have proven to be the exception! You’ve spent time learning how to trade, have done your research, and have created a trading plan. You are keeping a detailed track record of all of your trades. You also take time to learn from losses instead of running away from them.
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Congratulations, you’re showing a profit, and your penny stock fortune is within reach. Now the real work begins. Like Emerson said, you have to have ten times the skill to keep what you’ve got in order to stay on the penny fortunes track!
The skills required to keep your profits are the same ones mentioned above that brought you success in the first place. Now though, you need to be more diligent in following them. You also have to remain emotionally neutral. Remember, you’re still human and losses in Penny Stocks are still the rule not the exception.
The fastest way to lose your winning edge with is to become overly confident. Letting greed, euphoria, or any other positive or negative emotion start dictating the way you handle your trading portfolio is a prelude to financial disaster. Rule #1 when it comes to avoiding the above, and achieving your penny stock fortune is to protect your risk capital. Therefore, be diligent about removing and protecting a percentage of your profits from winning trades. In summary, just keep your focus and never forget how penny stock fortunes are hard to win and can be easy to lose.
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