Penny Stocks, Meet Technology
Our Penny Stocks series has covered a lot about how to trade penny stocks and what to be mindful of when considering certain penny stocks to buy. But something we really haven’t dug deep into yet has been the new technology that could quickly propel due diligence into the 21st century.
You don’t necessarily need to be a die-hard penny stock day trader to want to keep watch on the markets every day. The Dow crossed 20,000 recently and many technology stocks are hitting near record levels. Why mention this? Well in the age of budding tech, there’s more of a likelihood that your cell phone is becoming your main source of information.
Laptops collect more dust than they did before and though they are just as mobile, cell phones are taking more of the mainstream traffic. There are many mobile apps that could help you make some snap decisions when it comes time to looking at penny stocks to buy.
But when it comes to many stock market apps, these will want you to spend anywhere from $5-$10 at times (keeping into consideration the in app purchases) but we’ve found that keeping it between FREE and $1.99 get the job done just as good. In fact many trading platforms have a mobile version including Robinhood, TDAmeritrade, Etrade*Pro, and even Scottrade. The rising popularity of mobile-based accessibility needs has continued to grow. For those of us looking to stay one step ahead, this could be the next place to look.
Think about it for a minute. When penny stock brokers were on the trading floor, it was the telephone that gave the edge instead of “a ticket runner.” From there the computer made it that much easier for brokers to place orders for their clients…and then came the dawn of the internet where self directed penny stock traders could sign onto their own account and manage the money themselves without much intervention from an actual human. Today we’re seeing this evolve into something more dynamic and even more impactful. So the next time you’re searching for the best penny stock, think about downloading a mobile app.