Penny Stock Prophet – To Use or Not To Use?
Should you use the penny stock prophet or not? Does this program work as advertised or is it a money making scam that only profits the program owners? When it comes to penny stocks there are many tools that can be used to help determine which penny stocks are best for your investment situation, and one of these is the prophet software. It is a specialized penny stock screener developed by an MIT mathematician that advertises excellent results with stock picks. How does the program actually stand up to the competition? According to the many online forums and the web testimonials this program is an effective tool that does offer higher than average success rates. This does not mean that the program is foolproof but many investors who have used it attest to the effectiveness.
The penny stock prophet has received many positive reviews and much praise. There have been some complaints about the fact that every single trade recommended is not successful but no trader or tool can be 100% accurate all of the time. Many financial advisers recommend the product but only if the individual has at least an intermediate knowledge and significant experience in trading penny stocks. A number of comments in more than one penny stock forum expressly warn that this system is not deal for beginners or novice traders who are still learning. This tool is also more time and labor intensive than some of the other screeners, and anyone using this system must be quick when the time comes or the trading activity could fall through.
No tool or resource should be the only thing used. If you are an experienced trader having the penny stock prophet in your toolbox can be a big advantage though. Subscribers receive a daily email with a newsletter that lists the top penny stocks chosen by the developer, and these are the stocks that will be purchased. If you decide to use the product then you can invest in the penny stock recommendations given and wait for the trading results. Many experts advise against paying for tips regarding penny stocks though, while others believe that you get what you pay for. Many investors believe that this program does offer better than average returns for the stocks chosen.
Every investor is different, and using the penny stock prophet may or may not be right in your specific case. If you are a new investor or you are uncomfortable paying for stock tips then this service may not be the right choice for your investment needs. You may prefer to do your own research and choose stocks to invest in without paying for this advice. The penny stock market can be very volatile though, so make sure you research every stock choice very carefully before you decide to invest in a stock. Only you can decide which methods are right for you, and which methods you are most comfortable with. Each investor is different, and while some while find this program invaluable others prefer not to use it.