Okay, so you took the plunge and started day trading penny stocks on a daily basis.
You bought tons of guides, ebooks, software and everything imaginable and have been tracking your trades like crazy every single day.
So why are you still losing money in the micro cap market? Don't quit! You can still make a profitable business out of trading! Here are the top reasons why you might be losing money trading micro caps and how you can fix them without going broke.
First off, are you underfunded? Part of the problem when it comes to new traders is they do not save up enough capital for day trading stocks.
This can lead to problems when it comes to entering the financial markets because commissions will drain cash from your wallet quickly.
I recommend having at least $1000 in startup capital to trade micro caps consistently and seriously.
Any less than that and you risk getting called out by your broker.
Next, are you analyzing the wrong indicators? Penny stocks typically move as the result of fundamental indicators rather than technical ones, so look more at the overall health of the company and the hype surrounding the stock when day trading micro caps.
Don't analyze the technical pattern too much! This can mislead you and cause you to miss the hotmicro cap stocks in exchange for ones that will fall.
There are just too many false breakouts on micro caps to focus solely on technical indicators.
Finally, are you trading penny stocks on a good system? If not, you seriously need to reconsider the system you are using and find one that really works.
I trade on the Penny Stock Prophet system and have found it to be consistently profitable when it comes to day trading micro caps.
If you are still using free stock alerts, these can often cause you to lose money quickly because they are sub par.
If you want to trade penny stocks seriously, you need to invest in a good penny stock trading system.
You bought tons of guides, ebooks, software and everything imaginable and have been tracking your trades like crazy every single day.
So why are you still losing money in the micro cap market? Don't quit! You can still make a profitable business out of trading! Here are the top reasons why you might be losing money trading micro caps and how you can fix them without going broke.
First off, are you underfunded? Part of the problem when it comes to new traders is they do not save up enough capital for day trading stocks.
This can lead to problems when it comes to entering the financial markets because commissions will drain cash from your wallet quickly.
I recommend having at least $1000 in startup capital to trade micro caps consistently and seriously.
Any less than that and you risk getting called out by your broker.
Next, are you analyzing the wrong indicators? Penny stocks typically move as the result of fundamental indicators rather than technical ones, so look more at the overall health of the company and the hype surrounding the stock when day trading micro caps.
Don't analyze the technical pattern too much! This can mislead you and cause you to miss the hotmicro cap stocks in exchange for ones that will fall.
There are just too many false breakouts on micro caps to focus solely on technical indicators.
Finally, are you trading penny stocks on a good system? If not, you seriously need to reconsider the system you are using and find one that really works.
I trade on the Penny Stock Prophet system and have found it to be consistently profitable when it comes to day trading micro caps.
If you are still using free stock alerts, these can often cause you to lose money quickly because they are sub par.
If you want to trade penny stocks seriously, you need to invest in a good penny stock trading system.
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