Penny stocks are controversial and mysterious. Hot penny stocks have turned average Joes into millionaires, but the truth is it is ALL about timing. Penny stock alerts light the way.
I used to be a penny stock chaser. I’d see a penny stock that had run from 10 cents to a dollar and I would buy it. It seemed like any penny stock that was making huge moves like that must be a sure thing. Unfortunately, most of the time I would lose money. Why?
After a lot of very expensive lessons, I learned that hot penny stocks usually cool off. What comes up, must come down. I have seen certain penny stocks continue to go up and up and up for a very long time, however those are very rare. I finally learned that when good penny stock picks get sent to me, I should buy them, hold them until they go up, and then sell them. To hold them too long usually translates into a 50-100% gain turning into a 50-80% loss.
Sometimes penny stock alerts get emailed to me, and instead of buying them and holding them for weeks or months, now I buy them right away and only hold them for anywhere from a few minutes to a few days. As soon as I have a gain of 20-100% I cash in the chips.
I used to be a penny stock chaser. I’d see a penny stock that had run from 10 cents to a dollar and I would buy it. It seemed like any penny stock that was making huge moves like that must be a sure thing. Unfortunately, most of the time I would lose money. Why?
After a lot of very expensive lessons, I learned that hot penny stocks usually cool off. What comes up, must come down. I have seen certain penny stocks continue to go up and up and up for a very long time, however those are very rare. I finally learned that when good penny stock picks get sent to me, I should buy them, hold them until they go up, and then sell them. To hold them too long usually translates into a 50-100% gain turning into a 50-80% loss.
Sometimes penny stock alerts get emailed to me, and instead of buying them and holding them for weeks or months, now I buy them right away and only hold them for anywhere from a few minutes to a few days. As soon as I have a gain of 20-100% I cash in the chips.
No comments:
Post a Comment