Let me get this off my chest before going any further, trading otcbb stocks is not a walk in the park. Statistics say over 90% of traders lose all or part of their money. You have to be truthful with yourself and ask why should you be one of top 10% earners on otcbb trading? You can make a lot of money trading stocks; especially penny stocks. You must first be aware of the following principles and they are:
-Avoid pump and dump scams and not think some newsletters or anyone will lead you to success
-You are responsible for your money, so make your otcbb trading decision wisely.
-You must have total confidence in your trading strategy.
-Show no emotions, if your heart starts pounding the minute you press buy, you will most likely lose your money on that trade. So don’t get emotionally involved in otcbb stock trading.
-Losses are acceptable, you must be able to take a loss, keep it to a minimum until the big winners come. I personally recommend selling if you’re at 10-15% loss. Don’t hold, and pray, that won’t work. (No emotions! Remember?)
-Hard work won’t get you rewarded, but work smart will get you rewards in terms of profits.
_Where’s your discipline? You’re going to need it to navigate through the bad times. Just because you lose on a stock does not mean your strategy doesn’t work, so stay the course.
I think that being disciplined will get you much more profits than being clever. That’s right; discipline is far more advantageous than being clever. The reason I said that is because a clever person thinks that he/she deserves success and clever people hate when they’re wrong. The thing is taking losses is essential if you want to win. Remember, no matter what you do, you will lose on some trades, so keep your losses small and wait for the big run or profits.
After reading this article, you will see why the majority of traders fail on trading otcbb and penny stocks. They rely on others to do the work for them, instead of conducting their own due diligence. You’re on your own when it comes to otcbb stocks, yes you can handle it by yourself, and you will be successful.
You’re on your way to greatness and a life changing if you’re willing to work smart. Get that to your mindset, you too can be an otcbb stock warrior like any successful traders; as for instance Timothy Sykes.