It’s not a new topic of conversation by any means; however, it is one that is always worth repeating given so many new traders believe certain things that are NOT true. This is especially true when it comes to smaller accounts and penny stocks. Our guest, Keith (chat room alias, “KrazyInTheKeys”) talks about his experience with this very topic. He stumbled into penny stocks believing it was where he “had” to be, but is that where he stayed? Let’s find out.
Notes:
Keith bought into the idea of getting rich quick based on a stock tip from a coworker. A good thing is that he limited his risk by only deploying a small amount of capital since he was very skeptical of the idea to begin with.
Even though he lost some money attempting to trade penny stocks in the beginning of his journey, Keith reflected on the idea that education pays dividends. This was the exact case for his job in the medical field so he knew it would be wise to invest in his market education the same way.
After a few weeks in the community, Keith went all in and joined Claytrader University and has been going through the courses since April 2016. He realizes that with proper training, trading can and will be his next income source as he slowly winds down his work and transitions toward retirement.
Keith immediately realized the benefits of options over penny stocks and has completely focused on them. Instead of parking his money in penny stocks that sometimes rarely move and exhibit very low liquidity (and horrible spreads), Keith can focus on a basket of high volume optionable stocks that provide opportunities on an everyday basis.
Quotes:
“I wanted to sell it when it was trading higher and buy into it when it traded lower. I noticed it always had this wavy trend to it.” tweet this quote
“I made a huge time investment and monetary investment in my career and it paid off. Clay made me realize the market is the same.” tweet this quote
“That was one of the greatest thing I learned from the courses was to stick with paper until I feel totally comfortable.” tweet this quote
“When you buy a penny stock you hope that one day it will reach a gain but with options you can trade them day in, day out, every day.” tweet this quote
“I feel a lot better about my trades just checking in on them every once in awhile instead of sitting in front of it all the time.” tweet this quote
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