5) You can't buy anymore than around $6000.00 max of any penny stock.
That's equal to buying 10,000 - 20,000 shares.
Which is difficult to get in and out of at a good price.
Only day trade penny stocks.
Too much risk to hold. You could lose everything.
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Tips for Trading Penny Stocks.
1) Only trade on Nasdaq.
2) getting in early, not paying a large spread is a must.
3) Try getting stocks with sub 30 million float that are taking heavy volume.
4) Penny stocks are very volatile. Never chase they always drop to fill in gaps.