In this podcast, we are going to cover the 5 Key Laws to Penny Stock Trading.
The reason I'm calling these laws is that you absolutely must follow them in order to avoid burnout and ensure your success.
You have to learn when to cut your losses and know when to close out on a trade.
It's a pretty simple concept, but an extremely important one.
If you lose all of your money on a trade, you then have nothing to move forward with.
Don't watch your money dwindling hoping that the price of a stock will go back up again.
Cut your losses and get out.
A lot of times people think that when a stock starts to skyrocket, they should hold on to the stock for as long as possible.
Sometimes holding on will catch you on the downturn of the stock price and you'll end up losing money that you could have had if you pulled out of the stock before you decided to get greedy.
Once you've developed your unique trading strategy, or come to work with the strategy we teach at In Penny Stock, it's important that you wait until the precise set up you're looking for comes about.
You need to be focused, and use your better judgment to wait until the indicators are set up in your favor.
The first thing you need to do is be well versed in what the market trends even are.
Keep yourself up to date so you can make the best choices in your investments.
You want to make sure you have the right tools available to you so you can be fully prepared when you start making your investments.
You'll need :
There's no reason to go into the financial game of trading without having the right tools in place.
Check out our free trading tools at InPennyStock.com to get started.