If you are tired of your job demanding boss, horrible traffic commute stress trading penny stocks is a great way to earn a living without having to traditional work. Penny stock trading has many advantages, including:
1. Flexibility – You can work your life around the business instead of the other way around. You can work when you choose while avoiding activities that you hated the traditional job.
2. Freedom – When you want to take a vacation you do not need to ask anyone. You can wake up and decide that you’d rather go to the beach and trade. Other days you may want to spend an entire day business.
3. Independence – No longer do you always have to worry about losing your income. When you are your own boss you manage income and time. If you want to make more money work harder.
4. Work From Anywhere – Trading penny stocks can be done from any location with only a computer and an Internet connection. This geographic independence is a big plus.
As you can see there are many advantages to trading penny stocks for a living.
When your just starting out in penny stock trading business are some tips to follow include:
1. Use A Discount Broker – only fees associated with trading penny stocks are traded charges . Each time you buy and sell shares you will have to pay this fee so it is important that you keep it as low as possible.
A discount broker simply run your business but do not give advice. You can do your own research for free at these locations. You should be paying no more than $ 5 / store.
2. Use Stop Loss Orders – A stop loss order preventing position stock slipping too much. Every time you place a buy order you should be to put a stop loss order for between 10-20 less than the purchase price.
This will allow holding phone to automatically sell if the poor so you protect your investment before erased.
3. Let the winners Ride – When you have a winning Penny Stock it is important to let your winners ride higher than lock in some profits. You can do this when the stock has risen so much that launch website to get nervous.
sell half the shares to lock in profits while letting the other half by the market. This way you have the opportunity to make large sums of money without the risk of losing all your profits.
As you can see by these three simple steps can have a big impact on your returns.