Can someone give me a brief “how to” on buying penny stocks?
I have never invested before but have a particular penny stock I really believe in… Where should I start? I’d prefer to use an online company, and if possible I’d like to start with just a few hundred dollars. The stock says the Ask is 0.17 x 5000… does this mean I’d have to buy 5000 shares? Thanks.
If you’re a rookie in investing or stocks, go to
Open up a portfolio without using real money. You can give yourself as much or as little money to try out the market. The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody’s got to eat and wipe their butts regardless of the state of economy. Many of these companies survived through the Great Depression.
That’s the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won’t lose money. It’s just that these stocks are the best. They pay good dividends too.
Then once you’re comfortable and test the waters of the market, you can finally put some real money in. Go to Scottrade.com. They’re excellent for beginners.