Is it really necessary to possess the boldness of Jordan Belford (the infamous wolf of Wall Street) and ruthlessness of Gordon Gekko (brilliantly portrayed by Michael Douglas in Oliver Stone’s movie Wall Street) to become a successful stock trader?
The answer is hardly straightforward.
From one point of view, this business asks for merciless calculations. Also, when it comes to penny stocks, trading stocks should not be perceived as a profession or a potential basis for a rich and secure existence.
The pump and dump scheme is often used by cons to create media and Internet hype and artificially increase the value of penny stocks. They usually have a lot of those stocks. As the price goes up, they keep selling their stocks and earn money.
However, since these stocks are usually worth barely $5 per share, they soon start falling and everybody who bought them when the price was on the rise or at the peak will lose a lot of money.
That is why going for huge gains should be avoided and an easier pace must be followed. If you want to try this adventure, it is strongly advisable that you see it only as a game and not a real job or the only source of your income.
Even when you follow the conservative guidelines and trade at a 10-20% gain, invest in penny stocks only the amount of money that will not affect your overall financial stability. Just like when you buy a lottery ticket.
One better alternative I have found (at least for myself) is trading forex and cryptocurrencies. There is a huge market and growing demand for these assets as the profits it can make is just unbelievable.
If you want to trade like an expert you will however need a good platform like Global CTB. Before you join check Global CTB scam and the reviews they have online so that you can ensure their credibility.
The good thing about them is you can call them anytime you want to get help regarding your transactions. You should either join Global CTB for getting good service or if not research properly to find the one that suits your requirements perfectly well.