And I've still been watching for a breakout over $1.25...
So if you want to take advantage of those kinds of moves, check out my three tips…
3 Tips to Trade True Penny Stocks
Now, let's get to the good stuff. How do you trade true penny stocks effectively? Here are three tips:
Tip 1: Don't Believe Every Penny Stock Will Hit a Dollar
The biggest pitfall I want you to avoid is believing that every true penny stock is destined to reach a dollar.
This is a common misconception, and it can lead new traders to bag-hold stocks hoping for that big move. I've seen so many traders fall into this trap.
They look at a 10-cent stock and convince themselves it's going to a dollar. Or they see promoters on social media making these wild claims and they believe them.
Please don't fall for this. Trade the technical levels and the patterns and set realistic goals for your trades.
Tip 2: Wait for Oracle
For true penny stocks, I highly recommend waiting for the Oracle signals and using the support and resistance levels. This is a powerful tool that can guide you through the levels.
You can access it through the link below.
Oracle provides one-click access to the most potentially volatile stocks of the day. Plus, Oracle analyzes all the prints, transactions, pre-market data, and chart history for each stock, and a few minutes after the market opens, it gives you signals based on the data it collects.
Once you have your Oracle signals, wait for those levels to be triggered before entering a trade.
These levels can guide your trading decisions. See how it works here.
Tip 3: Take Small Gains and Be Consistent
Once you have the levels, it's time to trade. But remember, the key is to take small gains and be consistent.
Don't get caught up in unrealistic dreams of a stock hitting a dollar. And don't expect penny stocks to have wild moves like a low float short squeeze.
Focus on achievable goals, and gradually build your account.
Trading true penny stocks can be challenging, but with the right approach and tools like Oracle, you can make the most of these opportunities.
Just remember to have realistic goals, take small gains, and stay consistent.
Take a full walkthrough of Oracle and see some recent examples of its picks, and the moves those stocks made after the signals were hit.
That way you'll see how it can work for you!
Have a great day everyone. See you back here tomorrow.
Tim Bohen
Lead Trainer, StocksToTrade
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