Few people trade stocks for a living but how would you like to become wealthy from home? You can trade penny stocks using small amounts of money and become rich.
The following secret techniques if followed can help you become wealthy.
1.
Discount Stock Brokers - Many investors overpay by using full service stock brokers.
Do yourself a favor and open a discount brokerage account.
Only open an account at a discount broker that charges less than $5/trade.
2.
Research - Research comes as a far second behind trading fees.
So don't focus too much on the research since you will only be using it to get updated information once you have bought the stock.
3.
Stay Positive - Probably 8 or 9 out of every 10 penny stocks will lose money.
The key is to contain your losses using stop loss orders and let the 1 or 2 winners ride to the sky.
You should be using a professional penny stock advisor to pick your companies so your loses should be considerably lower.
As in any business, the first few months can be difficult to stay focus if you are not seeing the profits come in.
In time you will learn all the rules and make fewer mistakes but the key is to stay focused and positive.
4.
Stop Loss Orders - The most important tip is to put in stop loss orders after each buy.
What a stop loss order does is protect you from taking on huge losses.
In conclusion, trading penny stocks can create a financial foundation that can enable you to quit your job and retire.