There’s a saying I learned when I was young, and you have probably heard it as well…
“Tripping over dollars to pick up pennies”.
As a penny stock trader and someone who has made millions trading them—I love that quote.
It’s a universal idea that can be applied in life, business, career, and yes you guessed it… trading.
While most people are having a difficult time trading a choppy market, I have been able to continue my trading success through it all.
In fact, there are a lot of opportunities out there if you are looking in the right places.
With the market all over the place, are you tripping over dollars to pick up pennies?
Simply put… I would describe the saying as follows — missing the important by focusing on the trivial.
In the financial sense, you don’t want to be so focused on small savings and gains, that you miss the bigger picture and much bigger payout.
What is Value? In a monetary sense, thinking about Dollars vs. Pennies… A dollar is 100 pennies… Okay so don’t pass on a dollar to pick up a few pennies… Duh!
But it’s not as easy to see it as that… You won’t realize you are passing up dollars by grabbing pennies because most often, the value of things is hidden… so how do we find it?
In life value can be anything you hold in high regard… I put a high value on my family and being able to spend time with them…
So what if I get so focused on trading and running a business that it becomes all consuming and I miss years of vacations and daily quality time?
I would end up missing so much of what I value and can’t get that back… for what? Time in front of a screen to make some money…
This is an example of tripping on pennies… In this case, for me, money represents the pennies and my family represents the dollars (trivial vs. important).
I am not just a trader… I am a businessman. Should I cut all my expenses to get my bottomline robust? More money right now sounds good right?
But what happens when there is no growth because the marketing budget got cut? Lower and lower profits as the years pass.
I missed the dollars, long term growth, by picking up pennies through the current marketing budget…
Would you want to invest in a company that passes on a growth just to save a few bucks right now? There’s no future when you make decisions like that. You miss out on so much.
Where are the dollars that you are missing?
Think about not spending on a system bc it costs money now… what’s the cost $1k? $2K?
If you don’t get it.. You saved that amount, so you have that…
But what about the time it takes to learn on your own… and the brutal lessons the market is about to teach you… the market charges a lot… watch out for $10k, $50k, or more in losses while you cut your teeth.
So pennies/trivial? Not wanting to spend a little now to gain the knowledge and a profitable system and mentorship that will get you to profitability.
In the long run, that will actually cost you more in losses than the cost of a proven system and mentor.
How to fix your thinking
There are two costs to consider:
- Upfront cost
- Opportunity cost
What you get faced with in the now is the upfront cost… that’s the “pennies” you can save now… you see an immediate value add and get blinded by that.
But what are you missing?
An opportunity… the money, or other value measurement that could be flowing in later… this is the higher value.
And if you don’t think about both the upfront and opportunity costs, you get stuck picking up pennies and missing out on bigger gains in life.
To fix this you need to think long term
One of the biggest challenges for most people is that they don’t naturally think long term.
This makes it easy to see the savings from not spending now… But it’s hard to see the larger value down the road by making a potentially different decision.
Things get easier if you act like you’re going to be in business forever… Use that idea when you make decisions…
What’s the impact now? What’s the impact in 5 years? Make the decision that will have the greatest value in 5 years…
Let’s talk about trading
So penny stocks are pennies in the saying, and blue chips are the dollars… right?
Wrong… If you skip the penny stocks and go to blue chip investments… what’s your return in a year? 10%? If you’re lucky…
I consistently find 20% plus winners in penny stocks… Overnight!
So do the math and tell me who’s tripping over what?
Now let me show you how to use penny stocks to pick up the “Dollars”
Let me start by letting the charts do some talking here.
Take a quick look at the progression of charts below and then we’ll talk…
What do all of these charts have in common?
- The Supernova Line
- Quick, Easy, End of Day entries
- Overnight Profits
Now you see… this is exactly how I am using penny stocks to pick up the “Dollars,” and add value to not only my accounts, but my LIFE…
First… the Supernova Line… this is a key resistance level that I use to find stocks ready to break out and gap up the next day… and I will show you exactly how I find it and how I add it to my charts each day.
Second… these trades take less than 20 minutes at the end of each day to find and enter.
It’s simple and I do this all live every day and show you every detail along the way.
The quick nature of these trades allows you to grab value in other areas of your life as well…
Think about all the time you have for the things you value on a higher level… family, friends, travel, hobbies etc.
You can create a true balance in your life… the type of balance that puts more weight on the things that matter most…
Third… overnight profits… let your trades work for you, not the other way around.
Once you enter your trades… you simply go about your evening, enjoy it, go to sleep, and wake up to profits… it’s that easy.
Don’t get stuck in the trivial or the daily grind… Break out of the mundane and create true value in all areas of your life…