How to Day Trade Penny Stocks

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Day trade penny stocks by finding a platform with low fees for trades, researching the minimum requirements of the platform and looking for quotes and research on different stocks. Avoid racking up lots of fees doing day trades with advice from an investment portfolio manager in this free video on investing.

Part of the Video Series: Investing & Retirement Funds
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Video Transcript

So how to day trade pennystocks. If you are daytrading on line one of the first things you want to make sure is that you have a suitable platform or a brokerage system where you can do those trades inexpensively. The last thing you want to do is be daytrading and racking up tons of fees that wipe out your gains for the day. So you need to look for a system or a platform that is going to give you lots of accessed research quotes. You want the level two quotes, not just level one and you are going to want the lowest fees possible for your trading. Many companies have options out there for just few dollars you can place trades in and out and it is actually made for an active trader. To get those rates you may have to perform a certain number of trades per day or per week, per month to qualify so one of the main things to do is to go out there, do the research, find the online platforms that you want to use and see what the requirements are and are you going to meet those minimum requirements for your daytrading needs. At that point you can make a decision and start trading stock and again if you are trading pennystock you want to make sure that you have that access online, not all brokerages welcome trading pennystocks. A way to find out is to see if they can do the quotes and research on basically it would be the stock name with the addition of a .and pk and that stands for pennystock.

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