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The Basics Of How To Trade Penny Stocks For Maximum Profits
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When you decide to learn the basics of how to trade penny stocks for profits, you are making one
of best decisions in your life with the assumption, of course, that you play your trading cards the
right way at the right time. However, your decision to invest in penny stocks is a crucial one
simply because you can win and lose a fortune. As such, you have to adopt the rights steps
to buy penny stocks online. Take note, nonetheless, that these are not hard and fast rules to
starting on your path towards massive profits, only guidelines.
First Step: Open an Online Account
You must open an account in either an online discount broker or a full service stockbroker. For
beginners with limited investment capital, you are well advised to opt for the discount online broker
so as to save on expenses. This is because the various service fees of full service
stockbrokers can overtake the profits gained in penny stock trading, which means that you are
essentially investing to pay the salary of said stockbrokers.
Basically, the first essential step in online investing is to look for the right discount broker.
You must look for brokers that fit the criteria of reasonable commissions, reliable customer support
and rapid trade execution upon your requests. In this line of thought, it does pay to do your
research about the best discount brokers in the industry. You can ask family and friends,
request for referrals, join online forums and read reviews. Remember that, in more ways
than one, you will be entrusting your hard-earned money to these people. As such, it is
prudent to protect your interests by performing background checks. You will, of course, be
required to present personal information. As such, your choice for a broker must employ secure
servers to protect their clients from identity theft.
Second Step: Deposit Required Money
The second step in how to buy penny stocks online is to deposit the required money to start your
account. You can do this in three main ways - (1) personal checks, (2) bank-to-bank
transfers and (3) wire transfers. You need not worry about investing large amounts of money
trading penny stocks. In fact, you can start with whatever money you feel comfortable investing
during your first foray into the world of penny stocks. It can be as little as $100 or as large
as $5,000.
You must remember, however, that it is often best to start out little and then gradually build your
portfolio. This is because penny stock trading is the most volatile market and, hence, experience
must first be acquired before investing larger amounts.
Third Step: Choose the Penny Stocks
2. In the third step how to buy penny stocks online, you must choose the penny stocks you wish to
buy. To do this, you have to access your account, enter the penny stock's ticker symbol
into the online trading platform and click on the "Buy" button and you are the proud owner
of profitable stocks.
Now, you must monitor your stocks on a daily basis so as to make informed decisions about
selling, buying and holding on to them. With most discount online brokers, you will be
provided with valuable analysis to help you make the right decision so make prudent use of these
customer services options.
To learn more about penny stock basics, visit http://www.stock-trading-made-ez.com/
Article Source:
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To turn $1,000 into $1,000,000 in just 38 trades, check out this site:
http://tinyurl.com/6s656tw
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