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Instead of trading at a pre-determined price, you will wind up buying penny stock at the lowest "ask" price you can find or selling shares at the highest "bid" price you can find. Ask prices will vary among sellers, so shop around.
Investigate a company before purchasing their stock. Buying penny stocks often means investing in small, emerging companies. While it may be hard to find a lot of information on such companies, it is important to examine their financial health before investing. You can find financial information on many small companies on sites like Google Finance or Yahoo Finance.
For information catered specifically to the over-the-counter penny stock market, use services like the OTC Bulletin Board and the National Quotation Bureau. A good opportunity to buy penny stock occurs when a company makes an initial public offering IPO. This is a company's first move into public ownership. Be prepared by reading the company's prospectus before making an offer. Be aware of the possibility of fraud in penny stock investing. A common tactic used by sales people is to buy large amounts of a stagnant company's low-priced stock and then aggressively promote that stock as a good buy.
If that effort results in a rising price although the inherent value of the company may not have changed at all , the seller may realize big gains in his holdings. This tactic is sometimes called "pump and dump," and a buyer should be alert for such activity. An inflated stock price can result in large losses for unsuspecting investors. Rising prices can also fall and leave a buyer with nothing. Research a company thoroughly before investing. Be wary of telemarketers, e-mailers, newsletters, and other advertisements touting "hot" stocks or "secret" tips.
Open an account with an online brokerage service. Buying penny stocks without a live broker means using an online, no-frills service. Sites like E-Trade and TD Ameritrade will let you set up an account with a small deposit for making purchases and paying fees. These sites work well for penny stock investing, because they permit constant monitoring of what may prove to be volatile price movements. Learn the mechanics and risks of buying penny stocks, and then begin trading.
Using limit orders will allow you to control the price of your transactions. Using market orders may lead to purchasing stock at inflated prices or selling it too low, because many buyers and sellers will post unrealistic bid or ask prices. Look for solid stocks at good prices. If a company is touted as a big winner, but its stock is offered at a very low price, it may be a "pump and dump" stock. A "pump and dump" stock is a fraudulent stock that will not yield any real money for you, as the investor.
Keep consistent tabs on your stock's price. Successful penny-stock traders will often spend all day in front of their computer, making frequent trades at a moment's notice. Unlike in a casino, however, the trader won't know the odds of winning before putting in his money, and of course there is no way to predict luck. If you spend enough time reviewing, researching, and watching your stock, you will start to see patterns and may be able to predict when it's time to buy or sell.
Remember that penny stocks are not reliable, long-term investments. Don't use them in your retirement portfolio. It's very difficult consistently to accumulate wealth from penny stocks. They're better suited for short-term speculative plays.
Not Helpful 42 Helpful Not Helpful 11 Helpful The commission becomes less important if you buy or sell several shares at once. Believe it or not, there are actually some brokers who charge no commission at all! See broker reviews online such as NerdWallet. Not Helpful 6 Helpful Are there penny stocks that give dividends? Would it be a bad strategy to just sit back and get paid dividends if a company is doing well?
A few penny stocks do pay dividends, but small companies are more likely to use their profits for capitalizing themselves. With penny stock you're more likely to profit from selling appreciated shares than waiting for dividends. Not Helpful 9 Helpful Acne Facial Treatments Plantation. Acne Facial Treatments Hillsboro Beach. Theme Parks in Dubai. Bronx car accident attorney. His Secret Obsession Phrases. Virgin Islands Health Center.
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