posted
Hi everyone, Can i have some help please, i'm trying to get into penny shares but where is the best place to buy and sell shares, never done this before, any help would be good, Cheers, Baz
Posts: 2 | From: Bristol | Registered: Sep 2006
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posted
BAZA, I am also a new member as of today. You must first open an account with a trading firm. Many online traders use such entities as ETrade or Ameritrade. There are others on line, so you may want to Google "stocks on line" , "stock trading", or other key words to choose one to your liking. Some may advertise low trading fees, but read the small print. Many times, you must maintain a huge balance to get that rate. Good luck.
quote:Originally posted by BAZA: Hi everyone, Can i have some help please, i'm trying to get into penny shares but where is the best place to buy and sell shares, never done this before, any help would be good, Cheers, Baz
I'll recommend you one broker who has a good reputation and their commissions are low... www.choicetrade.com .. now for the serious part... do not ... i mean DO NOT trade in pennies if you do not know how to trade in general... educate yourself first on how to trade stocks whether penny stocks or stocks on the big exchanges... read books and learn the basics or beyond first before you ever put a trade in... if you do not i promise you will lose your $$... I also suggest you do not put all your money in Penny stocks... but instead concentrate more on stocks between $20 to $60 a share.....perhaps put 1/4 of your $$ in pennystocks if they interest you... they are much more volatile at times and riskier then stocks priced higher.. Above all do not DAYTRADE stocks especially if your a beginner instead Swing or Position trade... get your feet wet first before you attempt to be a Daytrader (which requires about $25,000 to be a pattern daytrader and requires more of your time then swing or position trading) below are book suggestions...
A Beginner's Guide To Short Term Trading by Toni Turner www.toniturner.com (start with this one, will give you the basics and more)
The Candlestick Course by Steve Nison www.candlecharts.com (this book is tied into the Toni Turner book)
How I made $2,000,000 in the Stock Market by Nicolas Darvas (This is probably the most important book to read first and should really be named: Education of a Stock Trader/Operator)
Trend Following by Michael Covel
Reminisces of a Stock Operator by Edwin Lefevre
Market Wizard series by Jack D. Schwager:
Market Wizards New Market Wizards Stock Market Wizards
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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Thanx's so much for your advice, i will do some research B4 i start. It is nice to have people who are able to give good sound advice. Thanx's again
posted
Hello, I'm slightly new to trading as well, been doing it for about 2 weeks now. Was up 1k from 10k, now I'm down $300 from the 10k. Two stocks in particular I pulled out at a loss. At the time I thought I was limiting my losses, invariably they went back up a week later and I could have made a small profit on them... Thus I'm trying to say is don't always panic and pull out for a loss - your stock may go back up. Although cutting your losses can be a great idea some times though! Good luck!
Posts: 53 | From: NC, USA | Registered: Sep 2006
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could of would of should of..don't always assume your stock will go up ... no one and i mean no one can predict a stock's future move.. we can only make educated guesses based on our criterias, indicators etc.. Plan your trade , trade your Plan... do not let emotions get into your trading... you pulled out of those trades and you made the decision to limit your losses which IMO was the right move.. the other scenario could of been the stock kept going down and didnt reverse the next week ... then your post right now would be different.. advocating limit your losses...
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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