All About Penny Stocks
How I Got My Start in Penny Stock Trading
I’ve gotten a great deal of e-mail lately from one of my other internet sites asking about how I started out in penny stocks and investing in general. I decided I'd write a blog post about it as it appears to be a fairly common question as of late, so i hope this sheds some light on things for some of you.
Anyways, the way in which I got started off is not truly anything remarkable or new. I was going to university, studying finance and holding a job part time at some bistro. My expenses were low because federal funding covered nearly all of my education costs, and I could make out pretty nicely on tips in the restaurant, so I found myself with a little bit of extra money available. And so, instead of blowing it all on alcoholic beverages or parties or girlfriends I decided I might as well try my hand at investing in the market.
Now, everyone starts off someplace, and I was certainly just like any of you when I made my first “investment.” I had hardly any clue what I was doing - I ran across a number of e-newsletter related to hot penny stocks and picked out a few at random. I did about twenty minutes of “research” for each pick just before spending a couple of hundred dollars on about six stocks. This was basically a disaster, and despite the fact that one made some cash the others did so badly that I just about lost all that money. Even so, the one that did excel was a godsend for the reason that I saw, first hand, that it was in fact possible to earn money with this and it encouraged me more than enough to try it out once more.
I had been kind of disappointed about flushing hundreds of dollars down the drain and so, for my subsequent investment decision, I decided to be a lot more gun shy and careful. I used the subsequent months studying every little thing I could pertaining to investing in general, and that led me to penny stocks, and after that I started to pick out one or two firms that appeared good. Finally I felt like I'd carried out all of the exploration that I possibly could and they still looked like great selections to me, so i went forward and put in a hundred dollars in each one. I selected four businesses that time.
Now, these investments did significantly better but the outcome still were not the astounding ones I was looking for. Between the several investments I stayed at about break even, but after a couple of months a couple of of them were doing good - they'd gone up by about 15%. I was totally ecstatic about this simply because I'd chosen and investigated every thing by myself and it was my first taste of success! The other two were doing poorly so i got rid of them, and the other two continued to go up gradually. I sold these as soon as they started to dip and made a nice profit (at least I thought at that time) even though it was not anything exceptional.
I continued making use of this routine through university and learned more and more from each investment I made. Once I graduated I had quit the part time restaurant work and was trading stocks to pay bills, purchase books for school, and anything else. It took me a while to reach that position and it was not easy - but the thing is, it’s entirely possible if you just put the work in!
Anyways, the way in which I got started off is not truly anything remarkable or new. I was going to university, studying finance and holding a job part time at some bistro. My expenses were low because federal funding covered nearly all of my education costs, and I could make out pretty nicely on tips in the restaurant, so I found myself with a little bit of extra money available. And so, instead of blowing it all on alcoholic beverages or parties or girlfriends I decided I might as well try my hand at investing in the market.
Now, everyone starts off someplace, and I was certainly just like any of you when I made my first “investment.” I had hardly any clue what I was doing - I ran across a number of e-newsletter related to hot penny stocks and picked out a few at random. I did about twenty minutes of “research” for each pick just before spending a couple of hundred dollars on about six stocks. This was basically a disaster, and despite the fact that one made some cash the others did so badly that I just about lost all that money. Even so, the one that did excel was a godsend for the reason that I saw, first hand, that it was in fact possible to earn money with this and it encouraged me more than enough to try it out once more.
I had been kind of disappointed about flushing hundreds of dollars down the drain and so, for my subsequent investment decision, I decided to be a lot more gun shy and careful. I used the subsequent months studying every little thing I could pertaining to investing in general, and that led me to penny stocks, and after that I started to pick out one or two firms that appeared good. Finally I felt like I'd carried out all of the exploration that I possibly could and they still looked like great selections to me, so i went forward and put in a hundred dollars in each one. I selected four businesses that time.
Now, these investments did significantly better but the outcome still were not the astounding ones I was looking for. Between the several investments I stayed at about break even, but after a couple of months a couple of of them were doing good - they'd gone up by about 15%. I was totally ecstatic about this simply because I'd chosen and investigated every thing by myself and it was my first taste of success! The other two were doing poorly so i got rid of them, and the other two continued to go up gradually. I sold these as soon as they started to dip and made a nice profit (at least I thought at that time) even though it was not anything exceptional.
I continued making use of this routine through university and learned more and more from each investment I made. Once I graduated I had quit the part time restaurant work and was trading stocks to pay bills, purchase books for school, and anything else. It took me a while to reach that position and it was not easy - but the thing is, it’s entirely possible if you just put the work in!
