Challenge Webinar Top Penny Stock Trading Lessons: Key Points
- Penny stock scams run rampant — here’s how to avoid being led off a cliff…
- Think there’s one magic pattern that will grow your small account? Think again! Check out lesson #2.
- Promotions are more than manipulation. Learn who’s pulling the strings behind the scenes with lesson #3…
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3 Top Penny Stock Trading Lessons
Every week I give a Trading Challenge webinar. They alternate between Q&A sessions and live-trading webinars.
Over time, lessons from webinars compound to grow your knowledge account. Come with questions and work to get better at trading penny stocks under $1.
Last week’s live webinar was midday. I didn’t see any truly great trades, so we focused on Q&A. Here are three trading lessons from the webinar. Read to the end for even more lessons you’ll learn when you watch the webinar replay.
Penny Stock Trading Lesson 1: Newbies Leading Newbies Doesn’t End Well
I constantly warn traders about scams. There are literally thousands of scams popping off every day. Penny stock promoters love to lure newbies into chat rooms — it’s nothing new. But now there are also newbie-led Discord and Telegram chat rooms.
And they’re big scams…
It’s key to appreciate the process/journey, too many traders & people on Twitter are wowed by these fake screenshot heroes who only brag about 1-2 big wins but then pretend their huge losses/mistakes didn’t happen. The ENTIRE process matters, remember to call out the many fakers!
— Timothy Sykes (@timothysykes) January 2, 2022
Newbies get led into these traps where everyone trades together. They call it their secret chat room. But behind the secret chat room, there’s another even more secret chat room. And the ‘more secret’ chat room is selling into the other secret chat room.
It’s a nasty world.
When the stock tanks, the real newbies in the chat room ask, “What happened?” The so-called leaders of the chat room say, “Oh, I don’t know what’s going on.” Meanwhile, they know EXACTLY what’s going on.
If I didn’t trade or teach I could be a full-time scam buster. And I wouldn’t be able to keep up. I think it’s unethical and disgusting. It’s like the Wild West. And it’s why I teach.
- Expect the absolute worst out of everybody.
- Don’t meet offline.
- Don’t meet in any other chat rooms.
If you want to talk to anybody, use the Challenge chat room. We moderate it and clamp down on anybody misusing it.
That’s why we only accept the most dedicated students into the Trading Challenge. If you’re ready to learn the process, rules, and mindset it takes to become a self-sufficient trader — apply for the Trading Challenge today.
Penny Stock Trading Lesson 2: The BEST Patterns to Grow a Small Account
I trade small to teach students my process. And almost every trade I take is with a small dollar position.
I’m not hiding any strategies or trades — I show all my trades here. Study them and learn the patterns…
I like to dip-buy morning panics, intraday panics, and first green days. Recently, all three patterns happened in one day. And I covered them all in this free video lesson…
Focus on learning the penny stock patterns that repeat. There’s not just one pattern you can use to grow your small account. Utilize all my patterns and strategies.
Penny Stock Trading Lesson 3: Promotions Are More Than Just Manipulation
Most traders don’t understand what penny stock promotions are. Yes, it’s stock price manipulation. But the promoters also get paid to do it…
Why would someone pay to promote a stock instead of putting the money into the company or product development?
Because the company is BS. The company’s product is the stock.
Understand that most of these companies are junk. Promoters don’t care about the company. It’s a scam. Their only job is to increase the stock’s price and sell shares to the newbies who buy.
Watch this episode of the SteadyTrade podcast for a peek into the dark side of penny stock promotion and manipulation.
More Top Penny Stock Trading Lessons
Here are 7 more lessons to look for when you watch the webinar. Trading Challenge students can watch the replay here.
7 More Penny Stock Trading Lessons
Miss the webinar? Here’s what you’ll learn when you watch the replay…
- A little-known way to judge an OTC stock’s strength during premarket hours. (This one tip could save you from a big loss if an OTC you’re holding gaps down at the open.)
- The simple psychology trick Tim Grittani mastered that helped him make twice as much as me in half the time. (And why I URGE you to watch “Trading Tickers 2” even though it literally gave me nightmares.)
- When an ‘upcoming news’ catalyst matters … and when it’s better to sit on your hands. (Hardcore students of my 7-step framework already know this.)
- How an oft-misquoted line by Liam Neeson’s character in “Taken” describes successful traders to a T.
- Why money is the worst measure of your success in your first two years of trading. (Hint: The market is NOT out to get you.)
- The simple tennis ball trick I use to extrapolate a penny stock’s future price action.
- PLUS: Want an easy way to manage your growing watchlist? When a stock stops being a big percent gainer, take it off the list. Like I said … easy.
I have at least 11 more trading lessons I didn’t mention here. I can’t encourage you enough to show up every week with solid questions.
Ready to take your trading to the next level? To access the live webinars and hundreds of archived webinars…
Take the Trading Challenge
Live webinars separate the Trading Challenge from our stand-alone products and newsletters. Every week there are two to four live webinars from mentors like Tim Lento, Mark Croock, Matt Monaco, and me.
Want more penny stock lessons from Trading Challenge webinars? Comment below, I love to hear from all my readers!
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