My goal was to create a Penny Stock Egghead Review and after trying out the actual product, I realized that there are a few things that beginners need to know about penny stock investing. First, tips from experts on which penny stocks are about to spike can be extremely profitable, but a lot of beginners may not even know what these stocks are in the first place. I remember that I had absolutely no idea what I was doing when I first started out.
Penny Stock Egghead Review – Tips
Tip #1 – What are penny stocks?
Probably the BEST way to break down penny stocks is to describe them as stocks that are generally bought and sold for under $5 from online discount stock brokers. These are often desirable to a wider group of investors because the low price allows them to purchase more stock picks than they would otherwise be able to afford.
You may now be wondering where to buy penny stocks? Although you are encouraged to shop around at the various online discount brokers, the two that I have found to be the most affordable and easiest to use are E*TRADE and Scottrade. It’s important that you feel comfortable with your broke, though, so I encourage you to shop around and find the one that makes you the most comfortable.
Once you find a broker that you like, simply fund your account with a small initial investment so that you can begin trading. Your account can usually be funded by a personal check or a bank transfer. When I was compiling my Penny Stock Egghead Review, though, I did find that some brokers accept a wide range of other payment methods as well.
Tip #3 – Research the Market
Once you have your account set up, you need to then research the market. Surprisingly, one of the most effective ways to get a handle on which stocks will likely be the most profitable is to become involved in relevant forums and bulletin boards. Experts, or at least traders with years of experience, are always online writing about what they think will be the best penny stocks. While you should research the market yourself, the advice of a knowledgeable trader in these forums can prove extremely valuable to your bank account with guru stock picks.
Tip #4 – Purchase and Monitor Your Stocks
Once you have determined what you anticipate to be the hottest stock picks, or at least which ones will likely increase in value, you should then acquire them through your online broker. This process varies depending on the service you use, but it generally consists of simply entering the trading symbol and purchasing.
IMPORTANT! Be sure to monitor your stocks regularly! You want to be ready sell when the market spikes to cash out on your profit, or when it begins to trend downward so that you can mitigate your losses.
These tips were based off of information compiled for my Penny Stock Egghead Review of Nathan Gold’s Penny Stock Egghead system. I hope you found these penny stock tips helpful!
Penny Stock Egghead Review .com
We may receive a commission for sales made through this website.
This post was brought to you by Jeff as part of his Penny Stock Egghead Review.