Most people just accept their lot in life and keep their head down.
Why live that way when you can work from home on your computer and become your own boss.
The business I am referring to is trading penny stocks for a living.
You do not need any experience or financial education to make money doing it.
Just following the few simple but crucial tips will put you far ahead of most rookies.
As you get more experience trading stocks you will begin to make much more money.
1.
Use a Discount Stock Broker - Since you will be trading stocks for a living you will be making many trades a day from your computer.
Several years ago trades cost as much as $100, today there are many brokers that charge less than $5/trade including Sogotrade ($3/trade, $500 min.
deposit) and Tradeking ($4.
95/trade, $0 min.
).
Opening an account is simple and can be done online and funded online as well.
2.
Use Stop Loss Orders - The most important step you should take from this article is to understand and use stop loss orders.
A stop loss order prevents you from losing most of your investment in a trade.
When you buy a stock you should also put in a stop loss order on that same stock for between 10-20% lower price than you just bought the stock.
If the stock should drop to your preset lower share price the stock will automatically be sold therefore preventing further losses.
This is a crucial part of becoming wealthy trading stocks and will be the difference between you losing money or making a lot of money.
3.
Get Expert Penny Stock Picks - Since you will want the best chance at making money always select a expert stock picker to give you your stocks to buy.
Within 6 months to a year after you have much more experience and knowledge you may consider making your own stock picks but until that time stock with a pro.
In conclusion, you only need your computer, internet and the tips above to begin making money and creating wealth.
Why live that way when you can work from home on your computer and become your own boss.
The business I am referring to is trading penny stocks for a living.
You do not need any experience or financial education to make money doing it.
Just following the few simple but crucial tips will put you far ahead of most rookies.
As you get more experience trading stocks you will begin to make much more money.
1.
Use a Discount Stock Broker - Since you will be trading stocks for a living you will be making many trades a day from your computer.
Several years ago trades cost as much as $100, today there are many brokers that charge less than $5/trade including Sogotrade ($3/trade, $500 min.
deposit) and Tradeking ($4.
95/trade, $0 min.
).
Opening an account is simple and can be done online and funded online as well.
2.
Use Stop Loss Orders - The most important step you should take from this article is to understand and use stop loss orders.
A stop loss order prevents you from losing most of your investment in a trade.
When you buy a stock you should also put in a stop loss order on that same stock for between 10-20% lower price than you just bought the stock.
If the stock should drop to your preset lower share price the stock will automatically be sold therefore preventing further losses.
This is a crucial part of becoming wealthy trading stocks and will be the difference between you losing money or making a lot of money.
3.
Get Expert Penny Stock Picks - Since you will want the best chance at making money always select a expert stock picker to give you your stocks to buy.
Within 6 months to a year after you have much more experience and knowledge you may consider making your own stock picks but until that time stock with a pro.
In conclusion, you only need your computer, internet and the tips above to begin making money and creating wealth.
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