Michael Burnbaum : High Volatility
We’re often taught by investing experts to avoid highly volatile stocks but when you day trade penny stocks, this is exactly the type of stock you want. Stocks that have wide daily trading ranges offer better opportunities for profits compared to those that trade flat.
High Quality
When day trading penny stocks, don’t trade junk. Remember, you will be buying these stocks and holding them for a period of time, however short that might be. As such, there’s always a chance you may be left holding shares after the close so you better pick stocks you wouldn’t mind holding to the next trading day. There are gutsy traders that will trade just about any stock but I say why bother; there’s plenty of quality companies out there you can profit from, so why take on even more risk than you need to?
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