Stock Picks: How To Let Someone Else Do the "Dirty Work"
I've been trading stocks for more than 2 decades.
I've learned the hard way (of course!) that the most profitable way to trade stocks is to let other people do the dirty work - let others do the necessary research needed for picking stocks.
After many years of trying to do it all myself, I have learned that I can make far more money if I buy stock picks from trusted sources and trade these rather than trying to pick the best stocks myself.
In fact, I spend more time these days evaluating stock pick services than I do actually researching individual stocks (and I spend only about 10% of the time overall that I used to).
It is much easier to find a really good stock picker than really profitable stocks! Even if you have the time to devote dozens of hours a week to researching stocks, you might never find the best ones...
AND...
even if you do, you probably won't know exactly the right time to buy and sell them to maximize your profits.
I've also come to realize after more than 2 decades trading stocks that the REAL money is in penny stocks.
Yes, you can make a some with the often talked about blue chips but in order to do so, you have to be willing to lock away your money for a really long time - decades - AND after decades, you still aren't going to make as much as I can make in a few months trading penny stocks.
However, it is even MORE important with penny stocks to subscribe to a really good picks service because penny stocks are much more tricky to evaluate and they require additional skills (including detective work) than what your typical stock analyst has.
Usually the way I find stock pick services is through personal recommendations.
This is far more effective than just searching randomly around the net for one.
When a service comes personally recommended, it usually means it has made money for the person recommending it.
I've also learned to recognize certain signs of a good picks service versus a bad picks service.
The main thing I look at is how often the service sends picks and how many they send at one time.
Services that send fewer picks usually provide much higher quality picks as each one is better researched and they are only sending you the ones that really rose to the very top of potential profit.
I usually aim for about 2-5 a month (usually one a week).
If picks are sent out every day or they are saying they'll send you multiple picks a week, I would recommend staying away from that service as this is a sign that they are sending low quality picks.
While I could turn this next point into a book, I'll keep it brief.
At one point, I was signed up for more than 160 penny stock newsletters, may of which offered "free picks.
" Long story short, after YEARS of testing these free picks, I have found NONE of them to be of any value on a consistent basis.
They are full of scams and picks that really aren't researched well and they end up just being a huge waste of time.
If you are really serious about making money with penny stocks, I would strongly recommend paying the nominal fee required to get quality professional stock picks.
It is a small drop in the bucket compared to what you can make if you trade the picks.
After I sign up for a recommended stock picks service, I then personally test it myself.
I paper trade for a while before I actually put any real money on these picks.
I take special note of how CONSISTENT the picks are - in fact, consistency is the top factor for me.
I want to know if they are sending me consistently profitable picks.
I also pay attention to how profitable the picks are on average, how quickly I can lock in a good profit, and if they provide guidance as to when to buy and sell.
I personally prefer having one or a few really good stock pick services than several mediocre ones.
I make far more money this way and I stay very loyal to the services that make me the most money.
I've learned the hard way (of course!) that the most profitable way to trade stocks is to let other people do the dirty work - let others do the necessary research needed for picking stocks.
After many years of trying to do it all myself, I have learned that I can make far more money if I buy stock picks from trusted sources and trade these rather than trying to pick the best stocks myself.
In fact, I spend more time these days evaluating stock pick services than I do actually researching individual stocks (and I spend only about 10% of the time overall that I used to).
It is much easier to find a really good stock picker than really profitable stocks! Even if you have the time to devote dozens of hours a week to researching stocks, you might never find the best ones...
AND...
even if you do, you probably won't know exactly the right time to buy and sell them to maximize your profits.
I've also come to realize after more than 2 decades trading stocks that the REAL money is in penny stocks.
Yes, you can make a some with the often talked about blue chips but in order to do so, you have to be willing to lock away your money for a really long time - decades - AND after decades, you still aren't going to make as much as I can make in a few months trading penny stocks.
However, it is even MORE important with penny stocks to subscribe to a really good picks service because penny stocks are much more tricky to evaluate and they require additional skills (including detective work) than what your typical stock analyst has.
Usually the way I find stock pick services is through personal recommendations.
This is far more effective than just searching randomly around the net for one.
When a service comes personally recommended, it usually means it has made money for the person recommending it.
I've also learned to recognize certain signs of a good picks service versus a bad picks service.
The main thing I look at is how often the service sends picks and how many they send at one time.
Services that send fewer picks usually provide much higher quality picks as each one is better researched and they are only sending you the ones that really rose to the very top of potential profit.
I usually aim for about 2-5 a month (usually one a week).
If picks are sent out every day or they are saying they'll send you multiple picks a week, I would recommend staying away from that service as this is a sign that they are sending low quality picks.
While I could turn this next point into a book, I'll keep it brief.
At one point, I was signed up for more than 160 penny stock newsletters, may of which offered "free picks.
" Long story short, after YEARS of testing these free picks, I have found NONE of them to be of any value on a consistent basis.
They are full of scams and picks that really aren't researched well and they end up just being a huge waste of time.
If you are really serious about making money with penny stocks, I would strongly recommend paying the nominal fee required to get quality professional stock picks.
It is a small drop in the bucket compared to what you can make if you trade the picks.
After I sign up for a recommended stock picks service, I then personally test it myself.
I paper trade for a while before I actually put any real money on these picks.
I take special note of how CONSISTENT the picks are - in fact, consistency is the top factor for me.
I want to know if they are sending me consistently profitable picks.
I also pay attention to how profitable the picks are on average, how quickly I can lock in a good profit, and if they provide guidance as to when to buy and sell.
I personally prefer having one or a few really good stock pick services than several mediocre ones.
I make far more money this way and I stay very loyal to the services that make me the most money.