Once you've made pennies for cents to see, it's time to level up and buy pennies. Buying pennies is not as easy as making a list because you don't add your money until you make a list. Now it's your money and you take the risk. So you have to be very careful.
This is the hardest part, the part where you have to pull the trigger and turn a few pennies on your wish list into a shopping list. The list of pennies to buy doesn't mean you have to buy the stock right away, but it does include potential pennies that are at the current market price or ready to buy, but at a certain price level that will soon be met. . For example, if a penny stock explodes 100% or more in a matter of minutes, hours, or days and you think the news is really good and you want to buy. You should wait until the price returns to what you feel is less risky.
You don't need to make quick decisions and don't trade large sums of money because of the risks involved. Risk increases as money grows. So you can lose a lot of money if you throw it away in bulk. Therefore, it is better to be careful not to risk large sums of money. As Gary R. Blair says, “Creative risk taking is essential to succeeding in any goal where the stakes are high. Unreasonable risk is destructive, of course, but perhaps even more extravagant is reckless prudence, which encourages inaction and encourages inability to seize opportunities.
The most effective way to make money in this business is to be the first to hear the news. You don't want to go to a bulletin board and read about exploding stocks and recommendations for buying things like "now". You have to get the news first. Doing this is an art and requires some tools, and is better for free if you are on a budget. Plus, you should be able to sort through hundreds of messages and know which ones to look for beforehand. If you read the news, you will be late to see the big moves.