How to Flip Stocks and Get Rich
There is no other job in the world like flipping stocks for a living.
You never have to get up by alarm clock, or battle traffic, or sit through meetings.
In fact, you can watch t.
v.
while trading stocks or be at the beach or just about anywhere in the world.
I quit my job after learning these tips on my own and have never had any regrets since then.
You can have complete freedom and wealth trading small stocks if you use these tips.
1.
Use a Discount Brokerage Account - Everything from filling out the account application, to depositing money, to trading stock can all be done online.
Trading fees will be by far the largest fees you have trading stocks so it is important to keep them as low as possible.
Any discount brokerage that charges under $5/trade is fine.
Sogotrade ($3/trade, $500 min deposit) and Tradeking ($4.
95/trade, $0 min deposit) are both great discount brokers that also have great research tools.
2.
Keep Losses Low - When you trade penny stocks you are going to have more losers than winners so the key is to keep the losses low.
You can do this by setting stop loss orders after each stock buy which will set predetermined sell orders when a stock dips 10-20% of where you bought it.
3.
Let the Winners Ride - The way to become wealthy trading small stocks is to let your winner ride as high as possible.
When you start to feel uncomfortable with how high the price has risen, sell half and lock in your profits and let the other half in the market.
4.
Get Expert Stock Picks - Once you have been trading small stocks for 6-12 months you probably will develop the knowledge and experience to start selecting stocks on your own.
Until that time pleas seek an expert website with daily buy picks since your wealth entirely depends upon these stock picks.
Flipping stocks and becoming rich will happen for you if you follow the tips above and keep emotion out of the trading process.
Most importantly realize that the first few months of trading will be the hardest so stay positive and stay persistent.
You never have to get up by alarm clock, or battle traffic, or sit through meetings.
In fact, you can watch t.
v.
while trading stocks or be at the beach or just about anywhere in the world.
I quit my job after learning these tips on my own and have never had any regrets since then.
You can have complete freedom and wealth trading small stocks if you use these tips.
1.
Use a Discount Brokerage Account - Everything from filling out the account application, to depositing money, to trading stock can all be done online.
Trading fees will be by far the largest fees you have trading stocks so it is important to keep them as low as possible.
Any discount brokerage that charges under $5/trade is fine.
Sogotrade ($3/trade, $500 min deposit) and Tradeking ($4.
95/trade, $0 min deposit) are both great discount brokers that also have great research tools.
2.
Keep Losses Low - When you trade penny stocks you are going to have more losers than winners so the key is to keep the losses low.
You can do this by setting stop loss orders after each stock buy which will set predetermined sell orders when a stock dips 10-20% of where you bought it.
3.
Let the Winners Ride - The way to become wealthy trading small stocks is to let your winner ride as high as possible.
When you start to feel uncomfortable with how high the price has risen, sell half and lock in your profits and let the other half in the market.
4.
Get Expert Stock Picks - Once you have been trading small stocks for 6-12 months you probably will develop the knowledge and experience to start selecting stocks on your own.
Until that time pleas seek an expert website with daily buy picks since your wealth entirely depends upon these stock picks.
Flipping stocks and becoming rich will happen for you if you follow the tips above and keep emotion out of the trading process.
Most importantly realize that the first few months of trading will be the hardest so stay positive and stay persistent.
