A Critical Trading Tool, Your Penny Stock List
A Penny Stock List – Don’t Overlook This Critical Tool!
Today I’m going to drop some knowledge on you…
For the last five years, we’ve been giving – free to all – our knowledge and thoughts on trading the penny stock markets.
We’ve warned you away from Pump & Dump schemes. We’ve pointed out fast moving trends that have made traders thousands of dollars… We’ve educated and coached and helped as much as we could.
And today, I’m going to continue that trend by pointing out one simple… small thing… that can help your trading. Unfortunately, most experienced traders don’t use this simple tool and it’s a shame.
Yesterday I had lunch with a friend…
A Pro Without A Penny Stock List?
I had lunch with a friend of mine who’s been trading the markets for decades. He’s racked up win after win… and he’s one of the best penny stock traders I know.
Over a plate of BBQ, we traded war stories and discussed the market.
Europe, the dollar, commodities, market volatility, the VIX, nothing was off limits. Finally we got down to the heart of the conversation… We started sharing our favorite penny stock picks. (Get all my penny stock picks here.)
I tossed out a few names and pressed him for his process.
How does an expert identify his best penny stock trades?
What I heard was shocking…
He started from scratch every day. He didn’t keep a list of favorite or interesting penny stocks. He didn’t track the good, the bad, or the ugly with his research.
I was beside myself.
I spend hours every day tracking, researching, and analyzing penny stocks… I keep lists of stocks I like… ones to keep an eye on… ones to stay away from… ones with exciting stories.
Why do I do this?
Why Keep A Penny Stock List?
I have always kept a simple tool around… it’s a list of penny stocks.
Why?
The reasoning is simple… my memory isn’t perfect. And guess what – neither is yours…
Can you remember the stocks you researched in January? What penny stock Oil companies are out there? Want to trade Pot stocks… Here’s your list of Pot stocks.
If you don’t keep a penny stock list, you’re going to come across the companies over and over again.
You’re going to repeat your research on the same companies over and over again… wasting time, energy, and money.
A simple list of stocks, tickers, and notes will save you days, weeks, and maybe months of time.
It’s the easiest tool in the world to use…
And you can make it as complex or as simple as you want.
For example, I have a spreadsheet with three tabs…
Tab one is interesting stocks to keep an eye on… or research further…
Tab two is stocks to stay away from – these are the pump and dump players, bad management, and even fake businesses.
Tab three is penny stocks I own.
It’s that simple… and it saves me time and effort on doing research. When I uncover a good story or new stock… I simply check the lists and see if I’ve stumbled across the idea before.
It saves me time and money!
What Goes On A Penny Stock List?
I know what you’re thinking… my penny stock list can’t just be a list of companies and ticker symbols… and you’re right!
I have a notes section where I indicate the good, the bad, and the ugly of the company. I’ll note things like their products, revenue and earnings, good news and bad news.
If they’re on the “Do not touch penny stock list”, then I indicate why… maybe it’s a lawsuit, a pump and dump scheme, or a SEC violation.
If I own them, I make sure to note when and why I bought… and why I should continue holding… a bad quarter isn’t a reason to abandon a stock… but if you’re buying something for the dividend… and it gets cut… that’s a whole other story!
This is a simple process… a simple tool to save you time and money.
My Challenge To You…
So here’s my challenge to you… if you don’t have a penny stock list yet… start one right now. Either follow my outline above or develop one of your own.
But start today…
Then at the end of June, I want you to email me and let me know how many stocks you’ve looked at.
Easy, right?
I think you’ll be shocked at how many stocks you look at, research, and review over a month’s time. You’ll quickly realize the power of this simple tool… and you’ll find it invaluable.
Now one more request… on the blog below, leave me your comments on your favorite simple tool to help with trading… do you have a penny stock list already? Do you use something else? How do you do it? Let me know…
Good investing….
Brian Kent
Note: If you’re interested in learning more about Brian Kent’s Penny Stock All-Stars premium service… and learning about the stocks we’re trading for profit… you can get the inside scoop on penny stocks here.
Category: Penny Stock List
