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Now that i have moved my account from TDwaterhouse to choice trade, saving me a ton on commsions. I have a few questions? 1.I have only $300 saved up in my account , I do not have a job so adding more is impossible. If i were to star buying penny stocks under .10. Do i buy just one company that i feel looks good,or do i try and deversife myself . So far this week alone just on paper tradeing i have made $78.00 so i know it works, i'm using a mix of tech and Fundamentals to make my picks. 2.) Should i take another $300 ash advance on my mastercard to add to my Choice trade account esp since i have 0% interest on my mastercard for 5 more months . I could easyily pay if off by odd jobs that i do get in that time.
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1. diversify to limit your risk... never put anymore then 1/3 (33.3%) of your bankroll in any one stock.
2. Sounds like a good idea if and only if you can pay it off before the no interest expires... if not then my suggestion is to sell off some things in your home that you do not need on Ebay or hold a garage sale... to raise additional funds for your account..
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