Getting Started in Penny Stocks

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Getting Started in Penny Stocks
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The penny stock market is highly risky and
volatile. You must arm yourself with an arsenal
of tools such as research and knowledge, in order
to be able to make an informed decision. Both
tools will help you make informed decisions and
avoid expensive mistakes. To get started in
penny stocks, do the following
Terms and Concepts
Start by familiarizing yourself with general
investing concepts and terms, especially ones
related to penny stocks. Keep in mind these
stocks follow a different set of rules than
conventional investments, so dont be surprised
if you come across a different language. Some
common terms include short sell, buy-to-cover,
bid-ask-spread, uptick and bid loss orders.
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Start with Paper Trading
You can practice trading with real stocks and
make imaginary money. This is a realistic and
easy to learn the ins and outs of penny stock
trading. You also wont risk a dime!
What are your objectives?
Decide what your objectives are and document
them. Do you risk money put away and want to have
some fun or do you want to make returns within a
time frame? Without goals, you will be lost. With
penny stock trading you must have goals. You will
be shocked by the difference it will make!
Choose your favorite penny stocks
Learn the markets you will be trading on, the
price range you are looking for and the various
industry groups that interest you, i.e.
transportation, biotech, technology, etc.
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Decide how you will trade shares
Do you enjoy conducting your own research and
monitoring your own stocks, or would you feel
more comfortable with a professional stock
broker? If you prefer trading on your own, what
knowledge sources will you use to research,
monitor and trade your shares?
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Select a penny stock newsletter
Next, you need to sign up for a penny stocks
newsletter. These are invaluable tools that can
guide you through the mysterious and
unpredictable world of penny stocks. Get the
latest information on current stocks and upcoming
penny stocks, including chat rooms and forums.
Getting started in the world of penny stocks is
simple, provided you learn the terms and
concepts, practice on paper trading, write down
your objectives, narrow down your favorite penny
stocks, decide on your method of trading.
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