With the working world a sad landscape of dead-end retail jobs and boring corporate cubicle spots, there is a viable alternative. Day trading can be a profitable venture, a way to achieve financial freedom and a way to work from home. Working from home can be a very healthy and fun way to orient your career. No annoying bosses looking over your shoulder and stopping by your cube, no terrible co-workers eating up your day with stories of colds that kept them out all week. Just a quiet desk at home that allowed you time to find penny stocks to watch and profit off of them.
Penny stocks are not thought of as solid investment options. The inherent volatility and the potential for manipulation and fraud sends regular investors and market makers running for the hills. But volatility is what day traders crave most. That is where the profit is, as long as you can spot the patterns and trade correctly. The patterns are there. It is your job as a day trader to see them in real time, get into the penny stock at the right time and get out of the penny stock at the right time.
You want to be looking for home runs at all times. But you have to be settling for singles, doubles and triples also. There is the need to be searching for stocks that are going to bring you real profit and the need to keep your losses in check. That is what risk management as a day trader is all about. When you start to search for penny stocks to watch, look out for opportunities to make serious profit. But also keep a close eye on how to keep your losses from getting out of hand. When you keep your profit/loss ratio at 2/1, you can come out ahead, even if you miss on about 40% of your trades. And missing on 40% of your trades is a good percentage for a day trader.
Penny stocks to watch can be found in day trading chat rooms every day. When you start to engage with a day trading education site like Warrior Trading you can spend time in a chat room, learning the ins and outs of day trading. And stocks to watch are part of those chat rooms.
When you begin in these chat rooms, one of the most valuable things to see is a veteran trader livestreaming their desktop for all members to see. Whether that vet is looking for penny stocks to watch or working with large-cap companies, seeing how he or she approaches the market means that you can learn over someone’s shoulder. That is a very important part of getting to understand day trading. Watching the approach to that days stocks, how to enter and exit a trade and even what strategy they may be using from day to day is very educational for aspiring day traders.
Remember, even though penny stocks to watch can be risky, if you take the right approach towards educating yourself, you can make the move from newbie to profitable veteran very quickly.