Hi All from the UK I've just started my journey into trading etc still in a simulator just now trying to find my newish and style to trading, looking to do some training courses next year, i really would like to start playing abiut with penny stocks etc but i cant find a simulator that has penny stocks..... as i enjoy the fast pace of it all like the game "TRADEOFF" are PS,s on specialist brokerages? any help would be brill from the trading masters
Not a master by any measure but there is one "smart" thing I did at the newbie stage (and ever since) is never fool around with nonsense penny stocks.
%% invest PENNIES IN trading/investing BOOKS, UNLESS ALL YOU want is THRILLS............................................
I'd advise not paper trading. Rather, buy a single share of a stock. I dont care if its 10 bucks. If you have no skin in the game and just paper trade with nothing risked you will trade completely different.
I agree with the other replies. Stay away from penny stocks. A penny stock is far more likely to go to zero than to double. If you don't have much money, it is better to buy a fraction of a good stock than to buy a penny stock.
Penny stocks are a different world. Don't bother unless you want to specialize in them. Find a particular area to focus on, stocks, options, futures, forex, etc. Then spend time developing a plan that is, for starts, 25% risk management, 25% trade management, 25% setup signal management, 25% psychology. Most people focus on a few things (e.g. trade setups), and forgo the rest. Truth is you need to be competent in a lot of different areas, versus only a few or one. Think of it this way, if you are building a starter car, you still need cheap brakes, steering wheel, windshield, wheels, engine etc. Just because it is a starter car and is not super slick or fancy, does NOT mean you can skip basic parts. Lastly become super competent in running your software. Know its limitations and quirks.
%% THAT's TRUE; but if some is interested in thrills\ more than profits, penny stocks could provide thrills
Why penny stocks? What comprises your "etc" bucket? Screw taking a trading course at LEasT for a while. Instead, Just Type Your Questions into a se like Duck Duck Go. https://duckduckgo.com/ How to Trade Penny Stocks - https://duckduckgo.com/?q=How+to+Tr.../?q=How+to+Day+Trade+Penny+Stocks&t=h_&ia=web Do Not Trade Penny Stocks - https://duckduckgo.com/?q=Do+Not+Trade+Penny+Stocks&t=h_&ia=web How to Trade with a Chart - https://duckduckgo.com/?q=How+to+Trade+with+a+Chart+-+&t=h_&ia=web How to Trade Fundamentals - https://duckduckgo.com/?q=How+to+Trade+Fundamentals+-+&t=h_&ia=web Explore any questions that cross your mind. A week or two of this will get you miles further than paying for a course at this point. What would you say belongs in a solid trading plan? https://elitetrader.com/et/threads/...solid-trading-plan.340340/page-4#post-5031706 Break a Leg