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Getting Started


So you have decided to take the plunge into trading OTC stocks.

Welcome aboard.

First, make sure you read our trading rules. They will help you understand exactly why we trade penny stocks and give you proven strategies you can use to keep yourself on the right side of more trades.

If you have not read them yet click this link Trading Rules

OK, if you are still here, you now understand, we are not trading these stocks because they are going to end up being part of the S&P 500 any time in the near future (or ever), we trade them because they make predictable moves under certain situations and because we know that, we have an advantage in the market which is exactly what you need when you want to make money.

The first thing you need to do is open an online brokerage account.

The key to trading penny stocks is having the ability to trade in and out on a moments notice so the last thing you want to be doing is trying to call a broker by phone.

Here is a short list of firms many of our readers use. There are of course many more, and you can use any one you feel comfortable with. Just make sure they are friendly to penny stock traders and their commissions are cheap.

TD Ameritrade
No minimum account size and trade commissions of $9.99.

Charles Schwab
$1,000  minimum account size and trade commissions of $8.95.

ChoiceTrade
No minimum account size and trade commissions of $5.

Etrade
$500  minimum account size and trade commissions of $9.99

Fidelity Investments
$2,500  minimum account size and trade commissions of $7.95.

Scottrade
$500 minimum account size and trade commissions of $7.

ThinkorSwim
$2000 minimum account size and trade commissions of $9.99.

TradeKing
No minimum account size and trade commissions of $4.95

In addition to the trading rules here are a few things to keep in mind when you first start trading penny stocks.

  • Trading penny stocks is not a get rich scheme or overnight success story.
    • Every new penny stock trader takes losses while they are learning the ropes.
    • You will make rookie mistakes like hitting a wrong key, using the wrong order type, and buying when you meant to sell. Everyone does it.
    • The best way to stay in the game is to trade with very small amounts of money till you get the hang of it. Be patient, it will come if you stick with it.
  • The more you trade, the better you get.
    • The more of our alerts you trade, the more you keep the odds in your favor.
    • Practice makes perfect. You need to make those rookie mistakes to improve so get them out of the way early.
  •  Trade penny stocks to make money, not fall in love with them.

Good Luck & Good Trading,

Mark

 

 

 

 

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