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Penny Stock: Trading QuickStart Guide - The Simplified Beginner's Guide to Penny Stock Trading Paperback – March 25, 2016
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Note: I received this product at a discounted price in exchange for my unbiased review. My review would not change if I paid full price.
analytical background, skills, and learning-ability to do well Trading stocks outside of my full time job as a Software Engineer..
Little did I know how challenging trading stocks can be..
17 years later, and after having traded in many different methods including Penny Stocks - some as low as 12 Cents/share -
my real life experience Trading stocks makes me a little critical of what's in this book and more importantly of what's missing from it.
Where do I start?
1. Nowhere in the book do they discuss proper Risk Management - WOW! - No discussion about Stop Loss and how to set it up.
2. The suggestion to paper-trade like as if it will prepare you for real trading is unrealistic. It may help familiarize you with terms
and the vibe of the market, but thinking you will know how to trade better after paper-trading is like thinking that you are a good
shooter by shooting empty cans at a distance whereas in real life warfare there are people shooting back at you.
3. The Chapter on Technical Analysis covers the basic terms but has NO Charts - not even one to illustrate a term.
4. The amount of analysis you are directed to follow in order to find up-and-coming Penny Stock Companies is not applicable to
anyone who holds a day job. You will need to spend a few hours once or twice a week probably, to crunch numbers.
All that volume of information regarding Fundamental Analysis may border in Analysis Paralysis.
5. The Human aspect of Trading is completely absent from the book - our emotions play a huge part in Investing. Losing takes a toll
and counter-intuitively winning may make you less cautious with future trades. A chapter on the emotional aspect of trading would have
served the book well.
6. The book does not list good sources where to get your picks from - I would expect it to at least recommend "Investor's Business Daily"
- an incredible daily Newspaper (online too obviously) where in one look you get the best companies that trade at under $5 with ratings
that have proven reliable over time (and a wealth of information regarding trading in general).
7. Risk management requires diversification - mentioned in the book - but also correct portioning of your portfolio. Never put more than 5-10%
on each position. I would even say that as a 'trader' never use more than 30% of your TOTAL funds. Investors with long time
horizon may put more into their investment portfolios with caveats but that's a whole subject in its own right out of the scope here.
8. The book notes volume and volatility considerations but should have made it amply clear - Stay Away from low-volume stocks.
That brings huge volatility and worse - inability to get out when you want to.
The book does provide ample information and will familiarize you with trading terms hence the 3-Star from me, but for actual real-life
trading you should seek more resources and the Internet is filled with them.
The book was offered to me free for my unbiased opinion as shared here, and I accepted the offer because of my interest and experience
on the subject and happy I had the chance to share my take on it with potential readers.
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