Whether you’re trading them or investing in penny stocks, the goal is simple: make money then repeat the process. Some say it’s gambling while others say they’ve got a strategy when it comes to these cheap stocks. Regardless of whether you think penny stocks are similar to craps or not, you certainly can make money quickly. Becoming consistently profitable is the ultimate skill to master and it’s simple. But I didn’t say it was easy so taking time to learn how to buy penny stocks and make money is important in my opinion.
Take, for instance, The Eastman Kodak Company. I think that will be one of the penny stocks to go down in history for both creating huge gains and creating some of the biggest bag holders in history. We’re talking about a penny stock that ran from around $2.13 to highs of $60 in less than a week. It also fell from $60 to under $10 in about that same amount of time.Trading Penny Stocks With High Volatility
Depending on which side of the mountain you were on, determined how you feel about what I just said. The point of the matter is that inexperienced traders could have gotten very lucky trading KODK early on. There wasn’t much waiting time to see it run 100%, let alone 1,000%+. That doesn’t mean those who made money with KODK are now pro traders. It just means they made money.
Unless you can duplicate a similar approach to trading penny stocks profitably, luck is what played the bigger role. Learn how to trade penny stocks before you start jumping in headfirst; at least the basics. You can read through 60+ pages of our PennyStocks.com eBook for free to get started. You can also take things to another level and learn from traders who are already consistently profitable with a proven system.
I digress. At this point, I assume you’re already interested in trading penny stocks. With this in mind, here’s a list of 5 that’ve started trending higher this week. Are new highs in store before September 2020?