You can daily find free penny stock picks online, but whether or not you should use them is another matter entirely. If you have decided to enter the risky world of day trading, it is questionable whether or not you should trust a service that offers daily stock market recommendations free of charge. It is important to examine the motives of the site doing the recommending. Are they trying to help you profit or help themselves profit? When it comes to investing, one should never blindly follow someone else’s advice without knowing their full intentions.
Before even considering something as risky as day trading, you should have a good background when it comes to investing in penny stocks. This means learning all the jargon and keeping up with financial news. Reading a daily financial newspaper like the Wall Street Journal is recommended. Day trading is a risky endeavor that can lead to great losses or great gains. Therefore you should be prepared for loss and never trade with money you cannot afford to lose or money that you need. It is definitely recommended that you start off on a small scale before investing a large amount of money.
Before following the advice of a stock picking site, follow their recommendations and see if they pay off. If a site has a steady history of picking winners they are likely to be a good choice for you. When you are ready to start looking for daily stock picks, simply do a search engine query for them. You will find quite a few choices available. Many of the sites that offer free penny stock picks each day send them to you via email or post them on their homepage. You may wonder why any company would give away this information. One reason is to attract visitors to their site.
Free daily stock picks can help you enter the world of short term trading with more confidence than you would have on your own. In addition to using a stock picking site or alert service, you may want to join an online group or find a message board for day traders. This is especially important for new investors, who stand to learn a lot from those with more experience. Day trading is an exciting way to trade but is something that should be entered into with caution.
What Are The Best Free Penny Stocks Websites?
It’s true many investors are searching for the best free penny stocks information on the Internet. If you are new to the world of penny stocks, it is a good idea to acquire as much background information as possible before investing in them. Penny stocks are not traded on the major exchanges like AMEX, NASDAQ and NYSE. But instead penny stock companies are bought and sold via the OTCBB and/or the Pink Sheets.
The OTCBB stands for Over the Counter Bulletin Board. A stock can be on both the OTCBB and the Pink Sheets. The Pink Sheets was named for the color of the paper on which its stocks were once listed. Companies that trade on the OTCBB and/or the Pink Sheets are considered riskier investments. One reason for this is because they are not required by the SEC to report as much public data as companies on the major exchanges are. Penny stock trading is risky, but with great risks can sometimes come great rewards.
If you’re like a lot of investors, you want expert guidance to help you decide what to purchase and what to avoid. But can you really get that with free penny picks? It all depends on who is providing the information, of course. Sometimes you can find quality expert advice for free that is provided in an attempt to draw traffic to a website. Other times the information is offered as a sample of what you’ll get with a paid service. Of course, the Web is also filled with shady scam artists who may recommend a particular stock for their own personal gain which is called the pump and dump scheme.
When looking for the best free penny stocks websites, it helps to do plenty of research about any expert or site whose advice you are considering. A history of successful stock picks is something you should definitely look out for when shopping for a free penny stock recommendation site. If none exist, you may want to keep an eye on the site for awhile and track their picks to see how accurate they are. The world of short term trading, especially short term trading penny stocks, comes with lots of risk. However for some thrill seeking investors it is the risk that makes it worthwhile.