Everyday I'm constantly being asked to make videos about my Penny Stock trading.
I understand that to take the position trades I am taking in Crypto you have to be patient, because it is often days between good big coin position trades. So, you can just trade some smaller size alt coin trades to fill your time while you are waiting for those bigger trades. But added to that I also trade Penny Stocks, to fill my time and keep me from getting impatient and taking the big crypto trades prematurely. This is a little unfair, that I have Penny Stocks plus cryptos and most of my followers only have cryptos. But I dont want you to lose your money.
The whole goal of my blog is to share with others how I trade Crypto successfully and grow my account. Now we have so many tools also that help us in Crypto like: my videos, and our slack room and all the scanners. Everyday, people in the slack room are sharing there successful trades and helping others use my trading method. I'm loving it.
So when I am asked to make videos teaching PennyStock trading, I try to discourage new traders from starting with penny stocks because it is much much more difficult to be successful. Cryptos is so easy and cheap to get started, and all our tools are basically free. Not only is pennystocks more difficult to trade, but there is a lot of overhead, I spend over $10,000 a year in commissions and then there is tools.. I spend $250 a month just for EquityFeed charting and scanners.. Then there is broker data, of $150 a month on one broker and $90 a month on another. So you can see that it is a bit of an uphill battle trading pennystocks when your new to trading.
I am reaching back into my library to an old old video that I made intiled: The Happy Steem Trader episode 21 I got into a bad trade.
This is a good example of how easy it is to get hurt in Pennystock Trading. When I made this video is was very new to steemit, I only had 89 followers. I was crazy about the steemit platform, and trying to just get some free steem, so I was writing a few articles about things I was interested in and even drawing some cartoons. Back then you would get lots of free steem just for participating. Now its a lot more difficult to get any reward on steemit. I wasnt even trying to trade steemit back then, I was just investing more and more as the steem price went lower.
I hope you enjoy this old old video, where I explain the danger of trading Penny Stocks and why I'm not quick to encourage others to give it a try. That's not to say it cannot be done, I have been making money trading that market for years now. But, for the reasons mentioned above, I want to keep my blog focused on cryptocurrency trading.