If you become a very good trader you will have too much capital to be trading penny stocks. You will simply outgrow the market. The best traders in the world do not trade that crap because they know the big money is elsewhere. A lot of beginners are lured into penny stocks just as I was because they are cheap and you can trade them with little capital. I can guarantee all of those people have no clue you can buy 10k lots in the forex market for a few hundred bucks. I would say most daytraders in the forex market look to make 50-100 pips a day. Trading just a 10k lot with a few hundred bucks, that’s about $50-$100 at the end of the day give or take. That means with about $700 you could be profiting a couple hundred dollars a day if you can make your 50-100 pips in the forex market daily. Obviously there are traders who think about it differently, such as 500 pips a week, or 1,000 pips a month, or millions of other variations of that, but the point is you can control your bet sizes and even a very small amount can make you a good living! Better than the rat race at least. Once you get consistent, you increase your volume, and then start living your life the way you deserve to.
Now I hope I don’t have to tell anyone that this is not easy. You can’t just start trading tomorrow and nail it. If you started today and in 2 years you were a consistent and profitable trader you would be above average. 2-5 years of serious dedication trading ANY type of market including penny stocks, forex, stocks, futures, options, commodities, bitcoins and tulips…. whatever you trade is going to take you that same amount of time to learn. Pick the best one for you and understand them all before you make your choice. A closed mind supplements less opportunity.
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**Please note that trading is risky and I am not qualified to give investment advice. You should invest your money at your own risk and only after you have done your due diligence. Do not take anything here as a recommendation to buy or sell any securities. I am willing to talk trading strategies and connect with other traders via email or instagram.