Penny stocks are cheap, but some consider them risky investments.
Penny stocks are low-priced stocks that are traded over the counter (OTC) as opposed to being traded over a major exchange. They are also called bulletin board stocks or pink sheet stocks. The term penny stock refers to the fact that these stocks are cheap, usually trading for less than $5 a share.
Instructions
1. Access your Etrade account, open a new order ticket and select the 'Stocks' tab. The process you go through to buy a penny stock is virtually identical to the process you go through to buy an exchange traded stock. Note, however, that you cannot place a market order because the markets for penny stocks are thinly traded.
2. Enter the symbol for the penny stock as well as the quantity of shares you intend to buy. Penny stock symbols are typically four or five letters long. Remember that you cannot place a market order. Instead, place a limit order and specify a buy price. The simplest method to use when placing a limit order is to enter the current quoted price of the penny stock as your buy price.
3. Review all of the information you entered before placing the order. If everything is correct, enter your order and wait to receive confirmation. These are the same steps you would take when buying an exchange traded stock.
Tips Warnings
As an alternative to placing the order online, call 1-800-ETRADE-1 to get a current quote or place an order over the phone.
Tags: penny, stocks, etrade, penny stock, cannot place, cannot place market, cannot place market order, exchange traded, exchange traded stock, limit order, market order, Penny stocks, place market
Related Posts:
Buy And Sell Stocks On Etrade
Many people are turning to online sites in order to manage their investments. With a few simple clicks, you can buy and sell stocks without the need to speak to an accountant first. You will still...
Buy Penny Stocks Without A Broker
Penny stocks are stocks that cost $5 or less per share. Any investor can buy any stock, not just penny stocks, without a live broker. Online brokerage firms and the popularity of self-directed inv...
Win A Penny Auction Tips
www.SavvyBidding.comHere are a few tips to maybe help you out with those penny auctions. For Savvy Bidding, Bid Cactus, NabnGrab or Bid RodeoInstructions1. First if they give you free bids save th...
What Does The Average Basement Remodel Cost
If you are fortunate enough to have a basement in your home, you have a unique opportunity. By finishing the basement, you can create additional living space at a lower price while improving your...
Find An Avon Representative Close By
find an Avon representative to buy AvonAvon products are available through an Avon representative. Many people know someone who sells Avon products, but if you don't you can easily find your neare...
