Some people the phrase “good penny stocks” is an oxy-moron. Yes it is true that it is quite difficult to find a really good penny stock that is going to hit the market with a bang. However, people are making money, and I mean tons of money, off of penny stocks every single day. Are they fortune tellers? Are they gifted? No, just experienced enough to know who is and what “great” news to act on.

It does take some practice before you get good at finding the best picks out there. Don’t get frustrated if at first you seem to have no luck with this process. That’s why it’s smart to start out small and work your way up so you are not losing a ton of money on your first amateur efforts. Even the experts started out rough and are not perfect even now.

The best penny stock would be one that you could put your money in today and just hold until increases your money 10000%. However, these are the most difficult to find and predict. A good penny stock, and more realistic one, would be a stock that increases your money by 100%, 200% or even more in one day because some good news released on the companies plans or performance. This happens on a daily basis with many penny stocks.