How does a day trader pinpoint the finest penny stocks; and once she finds them, how does she make sure that the ones she discover are the real deal? The process of discovery is a lot harder than most day traders realize. Between combing message boards, listening to so-called talking heads on TV, and securing the right newsletter subscription, finding the finest penny stocks can be very frustrating. But that frustration can be lessened considerably when a day trader adopts the right discovery strategy.
Finest Penny Stocks – How Not To Do It
Before highlighting the best strategy for finding the finest penny stocks, it’s worth highlighting two strategies which, though not always bad, should definitely be avoided. The first strategy to avoid is going with the faddish approach of trying to find answers in Google. It’s not that you can’t find the finest penny stocks ion Google – you can – but penny stocks are not like searching for burgundy socks. When you type “burgundy socks” into Google, you’ll get burgundy socks. But the finest penny stocks are a lot more nuanced. What you find may present itself as the finest penny stocks, but which in actual fact, are everything but fine. So the first admonition is that a day trader should be careful in going with the very first results that show up on a Google search – they aren’t always the best option.
Another supposedly “easy” option that should be avoided is placing too much trust in the internet chatter. Message boards are good for many things, but they can hardly be the stuff of confidence when it comes to spending your hard earned money. The wisdom of crowds might have been a useful thing in 1882, but times have changed. Millions of people can, in fact, be dangerously wrong about very important issues. And since you really ought to be zeroing in on the finest penny stocks, leaving such important matters to the capricious musings of message boards can be costly.
Finest Penny Stocks – The Strategy That Works
Let’s face it, we all live in a time-starved world. When it’s not unending demands being placed on your time by social media, it’s the increasing push of the mainstream media trying to bombard you with information. Things are no different for day traders either, especially if they operate exclusively online. There are an endless array of newsletters, podcasts, mainstream finance news bulletins – all desperately trying to get you to look in their direction. Look the wrong way, for too long, and you are in the hole. Do that too often and you completely miss out on the finest penny stocks.
To combat these time-pressures, it helps to employ the power of leverage when choosing the finest penny stocks. Leverage in this case is really the good old fashion use of other people’s time and their resources. The trick here is to pick the best source. This takes time and although there is the caveat about Google, there are some really good newsletters that have proven themselves in producing the finest penny stocks.
But how do you know that a newsletter is up to par given the multitude of criteria that exists in judging them? For us there are two things. The first is a consistent record of good picks. Day traders should be saying good things about the newsletter based on its historical record. The second is a strong affinity with the day trading process. Instead of just “giving you a pick,” a newsletter should go beyond that and offer guidance. This guidance can take the form of helpful feedback, on-site training material, even the battle-tested eBook. Many of the best day traders have spoken in glowing terms about a helpful insight given by a newsletter that then allowed them to make a big leap in their development. That’s the power of finding a newsletter service that puts the trader at the heart of what it does. Those discoveries are worth their weight in gold, and you should definitely make it your mission to find them as you seek out the finest penny stocks.