you see that, be wary. Because penny stocks are easy to manipulate, youll find a lot of pumping happening. Its going to the moon is a frequently used phrase in the world of pumping. I apply this to day trading penny stocks small cap stocks. Each morning I will have a list of stocks I can potentially trade. I decided to open my own account but I was trading stocks like CAT, IBM, and aapl. Use mental stop losses.
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Lets first get started by giving you a quick intro into penny stocks and then were going to move to our penny stock strategy. The next step is to trim down the number of penny stocks. Step #3: Attach to the chart the Bollinger Bands indicator in combination with the On Balance Volume indicator. Why Should You Listen To Me? But theres also money to be lost. Just for reference, when I took 583.15 and turned it into over 100k in 44 days, I was primarily trading stocks between.00.00. A markup phase, which is the first phase of the pump and dump trade setup is really tricky to identify. Tier 2 Penny Stocks : Traditional penny stocks, in my opinion, are stocks priced between 1 cent and 99 cents.
Other penny stocks are very volatile and have huge up and down price swings. We want to make sure we are not the one holding the bag so weve adopted an exit strategy to help us get out of the dump and dump scheme before the crash.