Total profit Day 1: $61.00 Percentage Increase Day 1: 19.55% Day 1 total: 373.00
(will minus OMNC commision after sell)
Posted by jrtfan on :
Cool idea. Good luck to you. I'll be watching your progress! Posted by Jason0352 on :
$300 eh? I will be watching this with great interest.
Posted by wdcisco on :
Thanks guys, check back...I'll be posting every day with my progress..
Remember I ONLY have 30 trading days!! and no sub pennies (WTF?!) Yes its true.
This challenge is like training for me...
Oh by the way...I mean't ONMC up there...
Posted by PCola77 on :
$10 says that if you're 100% truthful you have less than $1000 at the end. Posted by wdcisco on :
quote:Originally posted by PCola77: $10 says that if you're 100% truthful you have less than $1000 at the end.
OH HOHOHO!! Would that be debit or credit, sir?!
I'll be 100% truthful down to the dollar!
Nothings impossible and I'm gonna prove it here.
G'night...I got some tradin' to do in the morning Posted by Ace of Spades on :
I hope you post the trades close as possible to the actual buy and sell times....that way we know you will be hondest...Like Chuck9, he post them after the trades and then said the difference in time is because of his time zone...when even if you adjust the time zone it was still after the trade! He could be telling the truth....but the fact is we don't know!
But this is a great idea! And great trade today!
Posted by wdcisco on :
Thanks ace...I'll look into it.. Posted by Jo4321 on :
Well,I turned $10,000 into $312.00, so there.
But seriously, good luck to you.
jo
Posted by PCola77 on :
Sadly, I think I believe jo...
Good luck, wd!
Posted by bilgert on :
Over the past 5 years, I've seen this gambit tried on a couple of sites. It's hard, but it seems like fun. Sometime down the road I'd like to try it, but I'm kind of lazy.
FWIW, I did a few simple calcs for you to give you some perspective- they assume a constant rate of return and it assumes that you completely reinvest ALL of your proceeds from your original $312 and that all your trades cost $7 (no funny surcharges).
Return Number of Consecutive Trades Net Total ------ ---------------------------- --------- 20%.................21....................$11210.24 30%.................15.................... $10500.84 40%.................11.................... $11259.30 50%.................10 ................... $10952.91 60%.................8 .................... $12428.47 70%.................8 .................... $12008.89 80%.................6 .................... $10041.10 90%.................6 .................... $13969.05 100%.................5 .................... $9557.00
It's not perfect; of course, your return is gonna wobble around all over the place, but it gives you an idea of what you're up against...
Good luck to you. I give you props for trying!
Posted by bilgert on :
One other comment- I recommend you set your trading rules early, i.e. when to sell, when to take a loss, etcetera. A challenge like this is as much about money management as it is about getting on a hot streak and finding winners.
I think the best example I've seen of this is a challenge a professional poker player (Chris Ferguson) took up on Full Tilt. His goal was to start with NOTHING and to build it up to $10,000. He started by participating in freerolls and getting enough capital (about $6, I think) and then carefully managing his bankroll. It took him about a year and a half but he did it!
He did the challenge as an exercise in bankroll management. He hasn't completely documented his quest, but my understanding is that early on, he went broke early several times and it forced him to reevaluate his strategy- and adopt a fairly conservative, but reasonable approach. I believe he has a degree in game theory, so he's no dummy.
Again, good luck!
Posted by wdcisco on :
Wow...thanks bilgert!
The calcs are great...and cool story...
To be honest with you I think this might take a few rounds to get my strategy on...
also..still in ONMC...more of a gamble right now... Posted by wdcisco on :
Sell 2,112 Shares ONMC at 0.1650 Limit Good Until Canceled Filled 500 at $0.1650 - 12/18/07 12:32 PM Filled 500 at $0.1650 - 12/18/07 12:32 PM Filled 1,112 at $0.1650 - 12/18/07 12:33 PM
Buy 370 Shares DPDW at 0.9500 Limit Day Filled 370 at $0.9250 - 12/18/07 12:34 PM
Posted by fourseven on :
wdcisco.. great idea man. i like how you post the exact dates and times of your trades.. keep it up.
good luck on your quest. such a funny coincidence, i got taken to the cleaners recently -- got about $450 left in my trading account.
my goal is to make a come back.. no time limit, i find that sort of pressure is what got me in trouble in the first place. instead, my goal is to make good trades according to my technique, and avoid emotional and greedy plays.
so here goes the first one:
+500 HEB at $0.70 (20071212 / 11:42) -500 HEB at $1.03 (20071217 / 13:17)
Posted by osubucks30 on :
$312 to $10000 I say thats just about impossible to do in even a couple of years and you are going to try it in thirty days. You will multiply your money by about 32 times!! Then your goal next year should be to turn the $10000 into over $300000!! In no time you will be on the Forbes top 50 list!
Posted by bilgert on :
quote:Originally posted by osubucks30: $312 to $10000 I say thats just about impossible to do in even a couple of years and you are going to try it in thirty days. You will multiply your money by about 32 times!! Then your goal next year should be to turn the $10000 into over $300000!! In no time you will be on the Forbes top 50 list!
Now that's the spirit! Maybe it's a little ambitious, but it's possible. What's the point of a snarky attitude? Give the dude some credit for having the courage of his convicitons.
Posted by wdcisco on :
Not a good day today guys...DPDW stabbed me in the back....I think there is possible dilusion...
Anyway...does anybody know where I can find the top movers for the day in realtime?!
Thanks!
Posted by fourseven on :
dude.. slow down. take your time. you don't have to make ten grand in a month.. if you make a thousand bucks off of that $300 you start with, that will be awesome too.
Posted by fourseven on :
check out thinkorswim for movers .. their java client has some scans/filters where you can search for stocks by percentage change and volume (eg, up more than 5%, with more than 1M shares traded, etc)
Posted by fourseven on :
um.. but ideally, we should be so lucky as to have our little community provide the hot picks, no?
Posted by wdcisco on :
lol! Thanks for fourseven I will look at those links right now...!!
Posted by osubucks30 on :
quote:Originally posted by bilgert:
quote:Originally posted by osubucks30: $312 to $10000 I say thats just about impossible to do in even a couple of years and you are going to try it in thirty days. You will multiply your money by about 32 times!! Then your goal next year should be to turn the $10000 into over $300000!! In no time you will be on the Forbes top 50 list!
Now that's the spirit! Maybe it's a little ambitious, but it's possible. What's the point of a snarky attitude? Give the dude some credit for having the courage of his convicitons.
The Grinch? Thats not fair! Well the key to investing is patience. If you are trying to make a quick buck like turning $312 into $10000 you will lose. Since it is only $312 who cares.
Posted by osubucks30 on :
quote:Originally posted by fourseven: dude.. slow down. take your time. you don't have to make ten grand in a month.. if you make a thousand bucks off of that $300 you start with, that will be awesome too.
Exactly!! If you turn $300 into $1000 in a year you are doing awesome. Heck if you turn the $300 into $500 your doing GREAT!!!
Posted by a surfer on :
Hey wdcisco....
Here are some things to ponder.
If you take $3000.00 and make 3% on 100 transactions in succession you will end up with $1,000,000.
Thats right... over a million on just 3%
3000 x 3% = 90 total $3090
3090 x 3% = 92.7 tot $3182.70
Do that 98 more times and you have over a mil.
This of course does not take into effect any transaction costs.
But it goes to show you time and persistence pay.
Also keep in mind that your round trip fees are going to add up to almost 5% at $14 per pop.
Good luck!!!
Posted by wdcisco on :
Thanks asurfer...the commision is really really gettin' me...$14.00 in and out...50 trades=$700!
I might actually have to reconsider this whole thing...and slow down....I'll start with 3k...
but I'm not gonna give up just yet
I don't usually trade like this but I thought...hell its only $312.00...whats the worst that could happen? Might as well gamble a little with it
I believe you have to do 200 trades though..
Posted by a surfer on :
LOL your right... I remember seeing that chart somewhere.
well 200 trades it is....
How bout we start a 200 trade to a mil thread.???
Posted by wdcisco on :
LOL...once you get up there in the 100k's its seems pretty foolish to put it all in one stock..
Maybe goog or aapl...?!
Posted by PCola77 on :
I know some of you have seen it, but for those that haven't, feel free to check out my form 4 thread. I'm trying to do something similar, although slightly less ambitious, but probably just as unlikely
I am going to see if I can turn $3,000 into $100,000 in under two years. My program has produced impressive results so far, with I think 31 out of 32 "buys" returning at least 5 percent within 5 days. 1.05^72 = 33.5 would get there, so I'd need to make 72 trades where I get 5%.
If I had actually been trading them all, I would have turned my $3,000 into $13,000. Seems odd that I'd be almost halfway to my total trades goal (31 of 72), and yet only have made $10,000 of the $97,000 that I'd need to complete it.
That shows the power of compounding, because the first 26 trades make you just over $14,000, and the last 36 make you $83,000.
Seems crazy, doesn't it?
Posted by Bottomfeeder on :
Here are a couple that you may wanna look at... PMGU..on tuesday it had a low of .20 and bounced up to .30 then back down and settled on .15..May be a trade for ya..EUEN is at .20 and looks to be moving up to .40 range.. Good luck, I'll be watchin as well.
Posted by fourseven on :
quote:Originally posted by wdcisco: LOL...once you get up there in the 100k's its seems pretty foolish to put it all in one stock..
Maybe goog or aapl...?!
maybe once you have $624, you should split it into two easily-gambled-with chunks, and continue doing whatever you were doing when you doubled your money?
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: LOL...once you get up there in the 100k's its seems pretty foolish to put it all in one stock..
Maybe goog or aapl...?!
No doubt...Most daytraders make their living day trading stocks at least over $20 with High average daily volume, that move a few points per day! They just grab a few cents per trade, a few times a day! Day trader's have been having a blast with LDK! Look at the INTRADAY daily chart on some good stocks like AAPL, GOOG, GRMN, RIMM, FSLR, LDK...the percentage moves are less, but you can safely, and more acuratelY time your trades! Scalp it a few times and you can make good money!
Aslo swing trade the Big Board Momo sectors! For the last year or so it's Been China and Solar! A couple years ago it was Ethanol, especialy when Bill Gates bought a position in PEIX, Which he sold!
1 percent on 40k is $400! Do that 2-3 times a day and you're set! There's good short day trades every day too...Down grades, bad news, what ever!
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: Not a good day today guys...DPDW stabbed me in the back....I think there is possible dilusion...
Anyway...does anybody know where I can find the top movers for the day in realtime?!
Thanks!
Cisco...all penny traders have Microcaptrade...Here's the link
You want to pay attention to number of trades the stock has, and the dollar volume, not regular volume. if you look in the picture, the two colums to the left, there's regular volume, and there's dollar volume! I sort the top 400 by number of trades and dollar volume!
Posted by wdcisco on :
Thanks guys!! I really appreciate all the ideas...and advice...
Thanks ace...I thought you had to have a membership to go on the microcaptrade...good to know...
I am really hoping DPDW bounces tomorrow...
Thanks again!!!!!!
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: Thanks guys!! I really appreciate all the ideas...and advice...
Thanks ace...I thought you had to have a membership to go on the microcaptrade...good to know...
I am really hoping DPDW bounces tomorrow...
Thanks again!!!!!!
You do, but without it micocaptrade it's not possible to trade penny stocks...How do you know what's going on? if you use scottrade or a broker for quotes it can have millions in volume, but the stock might only a few thousand dollars traded in it! You need to see the number of trades and "dollar" volume!
Posted by wdcisco on :
Yeah ok I just figured it out...lol
I also need the L2'S...what subscrition do you have?
Posted by wdcisco on :
OK I am signing up for the $30.00 trial...Microcapfeedpro...!!
Is this pretty much the best setup out there?
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: OK I am signing up for the $30.00 trial...Microcapfeedpro...!!
Is this pretty much the best setup out there?
For penny stocks yes...it also has real time news, and a real time scanner. You can also track Nasdaq stocks under $5. But you can add higher priced big board stocks to the real time watchlists you can setup, they just wont show up on the nasdaq filt or scanner or news!
For big board stocks there's better trading platforms and software, but not for pennys stocks!
Also I would recomend joing Bill paneta's real time chat room at paltalk! It's free. you just download paltalk for free, and PM Bill at IHUB or email him, and he will give you the instructions and password...the best penny traders are in there everyday from before market opens till after!
Posted by wdcisco on :
I am all signed up...I'm trying to get the hang of things...one question:
No amex level 2's? I tried AFT or ANX?
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: I am all signed up...I'm trying to get the hang of things...one question:
No amex level 2's? I tried AFT or ANX?
only pinks, otcbb, and nasdaq under $5 will show up on L2's, real time filter, and news filter.
But you can add any stock to a watch list that you create and you will see the quotes in real time and all the columss that you choose to show for you watch list!
I made a watch list for all big china stocks, and all big board solar stocks!
Now for the top 400, it show losers as well as gainers. so if you only want to see the gainers, you would need to use the scanner(real-time filter).
Like a basic one would be to show 1% from close and price range .0001 to $10 or some high amount, to get all the stocks!
Then sort the list by number of trades or dollar volume...usally the results are close any way...it makes sense that stocks with most trades probably have the most money pouring in or out of them!
Also some times a stock might show up 20% , but it gapped up big, show it realy might be down from where it opened. so you might to a filter/scan with the same price range, but instead of 1% gain from close, do 1% gain from open. That will so stocks that are up from open!
Here is an instructional video by bill paneta...it's old so some things have changed but still good
replace the stars with trading .(dot) net
Posted by jrtfan on :
Ace could you please PM me Bill Paneta's e-mail so I can get onto Paltalk? Thanks!
Posted by Bottomfeeder on :
You may wanna take a look at OTHM.it seems it dips now to the .54 range then back up to the .80-.90 range.When my funds settle I will be buying.They have positive pr's out but profiteers have been gettin out.I hope it is back to this level when I can trade again.IMO
Posted by wdcisco on :
I watched that video...excellent ace...
DPDW is up today !!! Weeheheee! I made a coupla bucks (literally) lol...
Posted by PCola77 on :
Where's the challenge stand now wd? About even since your ONCM gain?
Posted by wdcisco on :
Unless dpdw has some kind of small miracle in pps...I have made about 70 bucks so far...
I never gained in onmc...I lost...I did my TA and figured it was stupid to buy at .175 so I sold at .165...now is .15 ..I will get back in and ride it soon.
I got the password to Bill Panettas paltalk...I will check it out tomorrow...
I see you made a WHOPPING 1/4%...!! Better than a loss eh pc?
Posted by Happy Valley on :
Wdcisco, I was still just a lurker on Allstocks when Daradog was posting regularly but he was one of the most rediculous penny traders I have ever seen...Here is a link to some of the screeners he used with Microcaptrade...If you do a search for Microcaptrade you will prolly find additional info on various screeners people have used throughout the years...Tex may even have a link to some of them in his reference thread (not sure)...GLTY
quote:Originally posted by wdcisco: Nice! Looks like a bottom to me...
Speaking of insider buying...check out AFT...its forming a cup and handle reversal--very bullish imho.
Let me know what you guys think?
I have aft on watch but the volume scares me.
Can you see the cup and handle?
Posted by Ace of Spades on :
I would be carefull holding ONMC right now! The RSI is trending down like the last sell off! See the blue lines at the top!
Posted by wdcisco on :
I sold that at .16ish I didn't like the chart... I am in DPDW now..!
Posted by captain america on :
hey ace I agree with you on onmc I have it on watch just in case it fills the gap at or around .05..it might be awhile .lol
Posted by captain america on :
nice play with dpdw wdcisco..I will keep aft on watch
good luck with your challenge
CA
Posted by PCola77 on :
Just so you know, none of those are insider purchases, just options being excercised. In my opinion it says nothing about the prospects of the company. Unless you have information tha specifically says otherwise, one has to assume tha options are excercised in order to have shares to sell.
quote:Originally posted by captain america: i agree surfer
hey pcola77! wow you are right i missed that...thanks for bringing that to my attention.
Posted by PCola77 on :
No prob. When you posted that, I checked my data and didn't see any recent buys for that symbol, so I checked into it. I'm always trying to make sure my data is all-inclusive, and there have been a few tiems that I missed something, but this wasn't one of them.
good luck!
Posted by Bottomfeeder on :
I think that maybe you should have looked at CJGH at yesterdays close of .301 as to where it got to within first few minutes this am.I couldnt get in.Didnt see it in time.
Posted by fourseven on :
+800 PTSC at .667 (20071219 14:58) -800 PTSC at .63 (20071220 12:06)
Posted by PCola77 on :
So cisco, how goes the challenge?
Posted by wdcisco on :
The challenge is pretty tough..I actually haven't traded anything since I sold dpdw...
I am working on opening my account with prodigy..just looking through the fine print...
I'll be back up and running in a few days--hopefully Posted by PCola77 on :
This is eating up a big chunk of your 30 days. I'm not sure if you'll be quite to $10K when you wanted to! Posted by wdcisco on :
LOL...yeah the odds are definently not in my favor Posted by SherriT on :
quote:Originally posted by wdcisco: The challenge is pretty tough..I actually haven't traded anything since I sold dpdw...
I am working on opening my account with prodigy..just looking through the fine print...
I'll be back up and running in a few days--hopefully
Was reading through your board, and I see you have the attention of some great traders on here. I used to be a regular around here too, but took a step back....I now have Prodigy and I LOVE it. Good luck to you!
Posted by wdcisco on :
Thanks Sherri,
Since you already have prodigy--
I have a Quick question: (ace--if you read this too feel free to answer as well )
I was going through the agreement and it states:
"This Agreement and Trader's engagement hereunder shall continue until two years from the date hereof, and shall automatically be renewed for successive one year terms unless either party gives the other notice of non-renewal not less than 90 days prior to the end of the initial two year term. PTG may terminate this Agreement for any reason upon not less than three business day's notice."
Do you know if this means its a "two year" contract or just how long the agreement will last?
Thanks again...
-wdcisco
Posted by PCola77 on :
sounds liek a 2 year contract. What's the cost fee structure? I didn't pay attention in that other thread.
Posted by wdcisco on :
Pc,
Its $8.00 a trade...If you do not trade at least 30 trades in a one month period they charge you $100.00 PLUS 150.00 for software per month...If you hit that 30 trades per month you pay nothing but the $8 per trade ($16.00 roundtrip)...I don't think I am gonna sign up (right now) if its a contract....
-wdcisco
Posted by PCola77 on :
So basically it's at least $250 per month, either by fees or trades. Yikes. I don't trade near enough to shell out that kind of cash Posted by wdcisco on :
250.00 x 24 (months)= $6,000!!!!!!! minimum!
One word: Holy sh1t!
Posted by fourseven on :
+500 GTOP at .79
dropped hard (from ~3.50) the other day, held and drifted up a bit today. my hunch is it will try to trace back up to ~1.50 over the next week.
wdcisco, i've joined your challenge.. i will keep posting complete trades (ie, from open to close of given position) to keep track of performance.
good luck..
Posted by wdcisco on :
Awesome fourseven!! Now I just have to get back on track Posted by Ace of Spades on :
quote:Originally posted by wdcisco: Pc,
Its $8.00 a trade...If you do not trade at least 30 trades in a one month period they charge you $100.00 PLUS 150.00 for software per month...If you hit that 30 trades per month you pay nothing but the $8 per trade ($16.00 roundtrip)...I don't think I am gonna sign up (right now) if its a contract....
-wdcisco
That's not right! There's no charge, all you would pay is for the software fee, and it's $100 not $150. Also you don't have to stay with them for 2 years. You can take your money when ever you want...Why would he get a $100 fine and still have to pay for software...doesn't make sense!
but if you had less than 30 trades, ask keith if he will let you slide and not pay the software fee and he will probably let you...Especially your first few months!
Also if 30 trades equals $240 that's nothing if you are making great money...you are planing on makeing money right? You can make $240 in one trade!
Ask keith all these questions!
Posted by wdcisco on :
Good point ace...I'll make sure and ask Keith to "Let me slide" lol...
This is what I don't get:
"5.3 Expenses. Trader shall be charged a commission of $8.00 per ticket with minimum of 30 tickets per month. Commissions are charged and debited from Trader's RC on a daily basis. In addition, Trader shall pay PTG a monthly fee of $100 in the months the Trader does not do 30 tickets. Additional Expenses are characterized in an attachment (attachment 1) to this document."
"Additional Fees may be applicable. Fees are passed through to the Trader at the individual provider’s cost, which may vary and are subject to change. These fees are characterized as Software, Execution or Banking related.
Software Fees (OnmiPro): Real-Time Level 2 Quotes: $100 Option Quotes: $50 *Software Fees are waived if Trader does 30 trades within a month"
Are they talking about the same fee ace?
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: Good point ace...I'll make sure and ask Keith to "Let me slide" lol...
This is what I don't get:
"5.3 Expenses. Trader shall be charged a commission of $8.00 per ticket with minimum of 30 tickets per month. Commissions are charged and debited from Trader's RC on a daily basis. In addition, Trader shall pay PTG a monthly fee of $100 in the months the Trader does not do 30 tickets. Additional Expenses are characterized in an attachment (attachment 1) to this document."
"Additional Fees may be applicable. Fees are passed through to the Trader at the individual provider’s cost, which may vary and are subject to change. These fees are characterized as Software, Execution or Banking related.
Software Fees (OnmiPro): Real-Time Level 2 Quotes: $100 Option Quotes: $50 *Software Fees are waived if Trader does 30 trades within a month"
Are they talking about the same fee ace?
Yeah, the $100 fee is the software fee....same thing...My first three months I didn't make that many trades, and I kept waiting for the $100 to come out, but it never did! keith is cool and understanding!
Posted by wdcisco on :
Awesome...I'll give him a jingle tommorrow
How long did it take for them to set up you account--credit check etc?
Posted by Ace of Spades on :
quote:Originally posted by wdcisco: Awesome...I'll give him a jingle tommorrow
How long did it take for them to set up you account--credit check etc?
No credit check, and It took like 1 day to start trading!
Posted by wdcisco on :
OK..thanks ace..you've answered enough of my questions
I'll get things straightened out with Keith tomorrow...
As soon as I get started I'll let you know what I think....
Have a good night bro...!
Posted by PCola77 on :
Ace, no offense dude, but I get the feeling you're not fully disclosing. Do you have any relationship with prodigy other than tha tyou use them? Seems like you are "selling" them more than just offering your opinion.
In addition, thikn of it this way, someone opens an account with $2500 and you say "it more than pays for itself if you're planning ot make money". Really? So someone who makes 10% A MONTH, which is an unrealistic goal for 99.9% of traders, would only barely cover fees?
I don't doubt the power of the products, or the usefullness of anything, but I do thikn this is NOT a platform for newere traders or people without large trading accounts.
quote:Originally posted by Ace of Spades:
quote:Originally posted by wdcisco: Pc,
Its $8.00 a trade...If you do not trade at least 30 trades in a one month period they charge you $100.00 PLUS 150.00 for software per month...If you hit that 30 trades per month you pay nothing but the $8 per trade ($16.00 roundtrip)...I don't think I am gonna sign up (right now) if its a contract....
-wdcisco
That's not right! There's no charge, all you would pay is for the software fee, and it's $100 not $150. Also you don't have to stay with them for 2 years. You can take your money when ever you want...Why would he get a $100 fine and still have to pay for software...doesn't make sense!
but if you had less than 30 trades, ask keith if he will let you slide and not pay the software fee and he will probably let you...Especially your first few months!
Also if 30 trades equals $240 that's nothing if you are making great money...you are planing on makeing money right? You can make $240 in one trade!
Ask keith all these questions!
Posted by Ace of Spades on :
quote:Originally posted by PCola77: Ace, no offense dude, but I get the feeling you're not fully disclosing. Do you have any relationship with prodigy other than tha tyou use them? Seems like you are "selling" them more than just offering your opinion.
In addition, thikn of it this way, someone opens an account with $2500 and you say "it more than pays for itself if you're planning ot make money". Really? So someone who makes 10% A MONTH, which is an unrealistic goal for 99.9% of traders, would only barely cover fees?
I don't doubt the power of the products, or the usefullness of anything, but I do thikn this is NOT a platform for newere traders or people without large trading accounts.
quote:Originally posted by Ace of Spades:
quote:Originally posted by wdcisco: Pc,
Its $8.00 a trade...If you do not trade at least 30 trades in a one month period they charge you $100.00 PLUS 150.00 for software per month...If you hit that 30 trades per month you pay nothing but the $8 per trade ($16.00 roundtrip)...I don't think I am gonna sign up (right now) if its a contract....
-wdcisco
That's not right! There's no charge, all you would pay is for the software fee, and it's $100 not $150. Also you don't have to stay with them for 2 years. You can take your money when ever you want...Why would he get a $100 fine and still have to pay for software...doesn't make sense!
but if you had less than 30 trades, ask keith if he will let you slide and not pay the software fee and he will probably let you...Especially your first few months!
Also if 30 trades equals $240 that's nothing if you are making great money...you are planing on makeing money right? You can make $240 in one trade!
Ask keith all these questions!
You are low-life...I lost all respect for you! I never gave anyone any reason to think that!....
I'm done with allstocks! This is a waste of my time!
Posted by fourseven on :
easy there, ladybugs.. try to stay on topic, eh?
Posted by PCola77 on :
LOL, I'm a low life for saying it's crazy to think that a new trader with only $2500 can make 200% a year. Uh, okay... Good luck with your trading...
quote:Originally posted by Ace of Spades:
quote:Originally posted by PCola77: Ace, no offense dude, but I get the feeling you're not fully disclosing. Do you have any relationship with prodigy other than tha tyou use them? Seems like you are "selling" them more than just offering your opinion.
In addition, thikn of it this way, someone opens an account with $2500 and you say "it more than pays for itself if you're planning ot make money". Really? So someone who makes 10% A MONTH, which is an unrealistic goal for 99.9% of traders, would only barely cover fees?
I don't doubt the power of the products, or the usefullness of anything, but I do thikn this is NOT a platform for newere traders or people without large trading accounts.
quote:Originally posted by Ace of Spades:
quote:Originally posted by wdcisco: Pc,
Its $8.00 a trade...If you do not trade at least 30 trades in a one month period they charge you $100.00 PLUS 150.00 for software per month...If you hit that 30 trades per month you pay nothing but the $8 per trade ($16.00 roundtrip)...I don't think I am gonna sign up (right now) if its a contract....
-wdcisco
That's not right! There's no charge, all you would pay is for the software fee, and it's $100 not $150. Also you don't have to stay with them for 2 years. You can take your money when ever you want...Why would he get a $100 fine and still have to pay for software...doesn't make sense!
but if you had less than 30 trades, ask keith if he will let you slide and not pay the software fee and he will probably let you...Especially your first few months!
Also if 30 trades equals $240 that's nothing if you are making great money...you are planing on makeing money right? You can make $240 in one trade!
Ask keith all these questions!
You are low-life...I lost all respect for you! I never gave anyone any reason to think that!....
I'm done with allstocks! This is a waste of my time!
Posted by PCola77 on :
Sorry fourseven, back on topic: I ain't bought sh*t lately Posted by Ace of Spades on :
No you are a low-life for acusing me of saying that Im not disclosing that I have some type of relationship with prodigy or something...you couldn't figure that out?...read your post geniuse...that's what makes you a lowlife...
"Ace, no offense dude, but I get the feeling you're not fully disclosing. Do you have any relationship with prodigy other than tha tyou use them? Seems like you are "selling" them more than just offering your opinion. "
Posted by PCola77 on :
So you're saying you have no relationship with them other than customer? Sorry, but whether that's true or not, it's not an unfair question to ask, given your posts about the platform.
Guilty consciences react defensively.
Posted by Ace of Spades on :
quote:Originally posted by PCola77: So you're saying you have no relationship with them other than customer? Sorry, but whether that's true or not, it's not an unfair question to ask, given your posts about the platform.
Guilty consciences react defensively.
No..offend ones, pissed off ones, and hurt ones react that way....what relationship could I have? You have been a pric to me the last few days for no reason!
I've been helping new traders with their questions more than anyone here!
Posted by PCola77 on :
Okay, you're entitled to feel that way, just as I am entitled to ask questions. You're the one who flipped out on me twice for asking legitimate questions that I would bet other people had been thinking. If you want to be offended, have a blast. Life's too short to get that riled up about a question on a message board.
And I'd bet a few people would take exception to your assertion that you "help people more than anyone here"
I'll tryo to avoid reading your posts in the future to make sure I don't offend you... Posted by Ace of Spades on :
I'd appreciat that....that makes sense...if your main goal is to be an A-hole to me...not reading my posts may solve the problem....Great idea! Posted by PCola77 on :
Up almost 4% already. Good call so far. What's your exit point?
quote:Originally posted by fourseven: +500 GTOP at .79
dropped hard (from ~3.50) the other day, held and drifted up a bit today. my hunch is it will try to trace back up to ~1.50 over the next week.
wdcisco, i've joined your challenge.. i will keep posting complete trades (ie, from open to close of given position) to keep track of performance.
good luck..
Posted by thesource on :
I turned about $200 into $12K in about 5 1/2 weeks a few months ago but it was truely a once in a lifetime run for me . The ticker symbol was ECFL and it was a micro penny stock . Could I do it again ? I highly doubt it but am damn sure going to keep trying .
Posted by PCola77 on :
Yeah, there are always going to be cases of people gettnig "lucky" like that. I hope someday we can organize a set of trading rules that significantly outperforms the market on a consistent basis, with a hard and fast set of rules that leaves no room for interpretation.
So that's our mission Posted by fourseven on :
um.. futile mission, i think.. the nature of the market is such that each time a set of rules / strategy like that surfaces, people adopt it, and adapt to it -- meaning it loses its edge.. just like a knife that goes dull.
the only dimension in which we (individual traders) can outperform the market is the psychological one. sad truth is, most of the money we make (or lose) is taken from (or given up to) other traders just like us. those who are more dedicated, more disciplined, more attentive -- beat those who are less apt.
people who make profits on consistent basis do not react to their emotions, trade because they want to trade well not because they're greedy, and are able to develop an intuitive understanding of the market without being swayed by it. not everyone can pull that off..
jmo..
Posted by PCola77 on :
See, I disagree with a few of your points. The fact that the market trends higher in the long term gives an opporunity for people to make mony without necesarrily "costing" or "taking from" others. I think your point rings truer in penny stocks, i.e., in order to make money on penny stocks you're basically taking from more inexperienced people. I just don't think the same is true in big boards. Maybe I'm being naive though...
Oh well, I'll keep trying!
quote:Originally posted by fourseven: um.. futile mission, i think.. the nature of the market is such that each time a set of rules / strategy like that surfaces, people adopt it, and adapt to it -- meaning it loses its edge.. just like a knife that goes dull.
the only dimension in which we (individual traders) can outperform the market is the psychological one. sad truth is, most of the money we make (or lose) is taken from (or given up to) other traders just like us. those who are more dedicated, more disciplined, more attentive -- beat those who are less apt.
people who make profits on consistent basis do not react to their emotions, trade because they want to trade well not because they're greedy, and are able to develop an intuitive understanding of the market without being swayed by it. not everyone can pull that off..
jmo..
Posted by fourseven on :
i dunno man.. i managed to turn a $25K account into $500, so what do i know..
actually, that's tuition cost for learning what not to do.. now onto the "wdcisco challenge", trying to do it the right way.
i think you're right about the big boards -- there you compete with hedge fund managers, and heavy-duty trading algorithms. honestly, i don't know which one is worse. Posted by TimW on :
GTOP looks good. I'll bounce onboard in the AM.
Posted by fourseven on :
GTOP scares the crap out of me right now. it traded slow all day, closed at .75 (down 6%) and then first thing after hours, two giant blocks of ~1.25M shares went through, both at .75
i can think of several things:
1. an institution decided to liquidate their holdings, saturating the market at this level.. whoever bought the 2.5M shares has spent their money already, there's that much less cash in the bull pen. bearish action should follow.
2. an institution decided that GTOP is a bargain, and cleaned up the slop, picking up a whole lot of shares from whoever was selling.. there being a shortage of sellers now, bullish action should follow.
3. two institutions arranged to swap their holdings, part of some deal or another. that's why the price didn't budge even though the volume was monstrous.
4. since the drop few days ago, there was short selling -- now the shorts covered.
um.. yeah. so. any of the above could be true, but probably something else altogether is going on. as usual, no prediction can be made, so this is all just hot air..
i'm long 500 shares, and not sleeping in late tomorrow morning.. Posted by fourseven on :
+500 GTOP at .79 on 2007-12-26 -500 GTOP at .73 on 2007-12-28 / 10:04 (stop loss)
$38 loss
Posted by PCola77 on :
Sucks. At least the $ amount isn't much.
Posted by fourseven on :
heh.. i think every fifth (or so) trade i make is profitable. the rest are.. controlled demolition of my account
i think i still pick them because i want them to go up, not because they're actually going up. am learning, though..
Posted by TimW on :
In at .7468
Posted by fourseven on :
TimW - still holding GTOP? I'm back in at .77 (stop loss at .73)
Posted by TimW on :
Yes.. May be exiting soon.. Looks very oversold and everytime that has happened lately it has bounced up a decent amount.
Ill probably jump if it bounces 10-15%.
Posted by fourseven on :
dunno about GTOP... eod action today looked like there's a smidgen of bullish interest.. but if it doesn't pick up this week, i'm out. there's other plays out there..
Posted by fourseven on :
got stopped out of GTOP .. 500x .77 -> .73 = $36 loss
Posted by Lockman on :
Hey is wdcisco even involved here anymore? lol
Posted by jrtfan on :
Shoulda bought MOSH!
Posted by wdcisco on :
quote:Originally posted by Lockman: Hey is wdcisco even involved here anymore? lol
umm..lol..well I am in the process of changing my challenge
3012 to 100k...just added zeros..
AND I am changing brokers. I don't want to start day trading unless I know what I am doing. I am paper trading right now.
I'll keep you guys updated.
Posted by Bottomfeeder on :
Will you be paper trading to 100k?
Posted by wdcisco on :
No...I will be paper trading 'till I get to 20k.
-wdcisco
Posted by wdcisco on :
My paper progress so far:
Posted by Jo4321 on :
Very nice. Posted by fourseven on :
good idea.. keep track of your trades, so you can look back and learn from your own mistakes / follow your own winning strategies..
btw, on the screenshot, looks like you added your YHOO loss as a profit, accidentally
glty
Posted by wdcisco on :
Thanks guys..
Thanks for catching that fourseven
I'l fix it on the next update.
Posted by $tock Weazel on :
Do not be ALARMED! I am wdcisco.
For tax purposes I have changed my name to Stock Weazel with a $.
Thank you. Posted by T e x on :
lol...
IRS tracking your nick, are they?
Posted by $tock Weazel on :
You have no idea!
Posted by $tock Weazel on :
I have been daytrading lately check it out..
Posted by IMAKEMONEY on :
$tock Weazel ????
Posted by $tock Weazel on :
quote:Originally posted by IMAKEMONEY: $tock Weazel ????
Yes?
Posted by 2008willBgr8 on :
I would like to join you in the challenge. I'm not going to be as ambitious as you for now, but I would just like to attempt to get my capital back. So, I'm going with a $6,500 to $17,000 goal.
$6500 is what is left of my original $17,000.
If my words seem familiar, I'm sure some of you will figure out why. But I don't fear the IRS, I fear my spouse, who does not yet know the extent of the loss.
Smiles, 2008willbgr8
Posted by $tock Weazel on :
quote:Originally posted by 2008willBgr8: I would like to join you in the challenge. I'm not going to be as ambitious as you for now, but I would just like to attempt to get my capital back. So, I'm going with a $6,500 to $17,000 goal.
$6500 is what is left of my original $17,000.
If my words seem familiar, I'm sure some of you will figure out why. But I don't fear the IRS, I fear my spouse, who does not yet know the extent of the loss.
Smiles, 2008willbgr8
Cool! Welcome aboard Will...If you don't mind. what did you lose it on penny stocks?
I am wdcisco but I have changed my name to Stock Weazel...has a better ring to it eh?? lol
I am paper trading at the moment...tryin' to develop a daytrading strategy...I would recommend that you focus on "big board" stocks...they are usualy a lot less risky and easier to predict IMO...
Well, I started out losing it in penny stocks. (my "faves: CSHD, XKEM, XSNX) Then I switched to Big Boards and had a series of stupid choices on most and bad timing on others. (Crox, JSDA, FRPT and many more) I am the poster child for not getting out when I should. And also for buying and selling at just the wrong time.
I'm trying to do some shorting now, but I don't have a lot of free capital left. I Just got a margin call yesterday and I need to solve that by Wednesday.
"Will"
Posted by Ace of Spades on :
quote:Originally posted by 2008willBgr8: Well, I started out losing it in penny stocks. (my "faves: CSHD, XKEM, XSNX) Then I switched to Big Boards and had a series of stupid choices on most and bad timing on others. (Crox, JSDA, FRPT and many more) I am the poster child for not getting out when I should. And also for buying and selling at just the wrong time.
I'm trying to do some shorting now, but I don't have a lot of free capital left. I Just got a margin call yesterday and I need to solve that by Wednesday.
"Will"
It sounds like you don't know the basics of chart reading...go to this thread
If you lost on those stocks you clearly should have seen on the chart that it was at it's top!
Posted by fourseven on :
nice collection, Ace. but there's chart reading, and there's psychology. i read charts well, but got a gambling problem.. all the technical expertise won't help with that.. Posted by Ace of Spades on :
quote:Originally posted by fourseven: nice collection, Ace. but there's chart reading, and there's psychology. i read charts well, but got a gambling problem.. all the technical expertise won't help with that..
LoL...you're honest with yourself so you'll be fine if you practice keeping emotions out of it... some people at allstocks haven't a clue what they are doing wrong! Posted by TimW on :
LoL! Im with fourseven.
Let them winnin's ride!
Posted by jordanreed on :
you guys ever read dardadogs system of fast, penny-stock, daytradin?.. if not, he is the king of fast,trigger-quick,money-makin,day-tradin skills...do a search and learn his way to do it...
do da due, but be quick about it!!(his quote)
Posted by 2008willBgr8 on :
Okay, I'm "back" to update my trading log. I wasn't sure how to account for positions that I haven't closed but that have gone up, so I just put it on there, as "still holding". So my position has improved just a little bit in two weeks.
As you can see, I definitely have a problem with short selling and getting nervous and selling too soon. With TGT, after I shorted it at $53.20, the rate cute came out and it zoomed up to a high of $56.17. Because of that, I was gunshy and didn't want to hold it overnight again, and so, I covered too soon, and took a loss. Missed out on profits, as it is now trading at $51.60.
With MON I should have kept my short longer as well, but since I had profit on that one, I am not as frustrated about that trade.
Jury is still out on SPAR, since I just covered that one Friday, but if my trend holds, I probably covered that one too soon as well. But again, since it is a profit, I'm not going to cry over that.
How have you been doing Weazel?
"Will"
Edited to add: LOL, I just noticed the date on my SPAR trade. That should have been 1/25/2008, not 1/30/2008. (I must have copied down the settlement date) Posted by $tock Weazel on :
Nice job Will! Any profit is good.
I've been doing good. I got my ONCO shares and those are working out for me.
But I'm having the toughest time getting money into my new trading account. I tried wiring it...that didn't work out. I tried sending a check priorty mail on Thrusday got there at 5:03 they close at 5:00 arghh...Went Friday morning to send the check and things were fine...until I got news yesterday that the "address could not be found"...I sent an email to Prodigy Trading just to verify the address..I think it was the Post office's mistake..but yeah sorry for the long story...I needed to vent.... Posted by TimW on :
GL to all! I decided to just stop trading and sit on what I have. Everytime I trade, the Jo Effect takes place and it seems I make the complete opposite of the right move.
Ill keep checking on everyones progress!
Posted by Jo4321 on :
Tim, you are supposed to be buying what I sell, and shorting what I buy. You coulda made a ton on AAPL.
Jo
Posted by Jo4321 on :
Here's my activity today: Sold Short BQI $3.38 Sold SWHC $4.33 Sold EPAX $17.40 In case you are interested in playing the "jo effect"
Posted by Jo4321 on :
So anyone make money on my signals? BQI hit $3.49 SWHC hit $4.52 EPAX hit $17.50 (although that one is now down, and so now truly suffering from the "jo effect"
I sure hope BQI comes back down. This truly stinks.
Jo
Posted by Bottomfeeder on :
CCU...Jo
Posted by TimW on :
I just had stinger STIY take a 65% dump on me. Luckily i didnt have a huge percentage of my cash in it.. But still, to see one drop 65% in the morning. Ouch.
Id rather take the jo effect. LoL
Posted by Bottomfeeder on :
Bad news makes a stock tumble to a buy in point. I am selling summ stocks on fri and may buy into STIY if it comes down to my price.Waitin on the fed to sell and news to buy.Never said I was they bright one here.
Posted by Jo4321 on :
Unbelievable...SWHC up .27 since I sold it.
I thought maybe by posting my buys/sell, I'd break the spell, but it doesn't look that way.
Jo Up .35 now. This isn't funny anymore. I sure hope someone bought when I mentioned I sold yesterday.
Posted by Lockman on :
JO , I need to follow you more closly. lol
Posted by Jo4321 on :
That's what I've been trying to tell you guys..
(SWHC up .50 since my sale)
Posted by Jo4321 on :
Remember I said I shorted BQI at $3.38? Well, after getting up to $3.49, it came back down to $3.39 around noon. I decided to go long at $3.39 in my other account, figuring it would dip and I could cover my short soon. Well, take a look at the 1 day 15 minute chart and see what my having both a long and short position does. It has stayed at $3.39-3.41 for about 2 hours! LOL
Posted by Lockman on :
quote:Originally posted by Jo4321: Remember I said I shorted BQI at $3.38? Well, after getting up to $3.49, it came back down to $3.39 around noon. I decided to go long at $3.39 in my other account, figuring it would dip and I could cover my short soon. Well, take a look at the 1 day 15 minute chart and see what my having both a long and short position does. It has stayed at $3.39-3.41 for about 2 hours! LOL
You your good.... I take it you've tried to fake yourself out and it hasn't worked. lol
Posted by Jo4321 on :
Yep, I know it is kind of stupid to be both long and short in BQI, but I just wanted to see which way it would go. But I must have changed the laws of physics or something! It doesn't want to move at all!
BTW, EPAX up to $17.70 (I sold at $17.40), but GUESS WHAT? I bought back at $17.05 and sold at $17.55. So I'm getting better. But still up nicely after I sold the second time.
Jo
Posted by Jo4321 on :
Out of BQI. Got out of my long position at 3.48. Covered my short position at average $3.385, so I lost money in one account and gained in the other. Overall, tiny profit. Of course, had I waited to cover, BQI is now down to $3.21! I am officially an impatient idiot.
EPAX is also continuing up after my sale, as is SWHC.
Posted by R1 Man on :
quote:Originally posted by Jo4321: Well,I turned $10,000 into $312.00, so there.
But seriously, good luck to you.
jo
I can do you 1 up on that. I turned $29,000+ into $312. Damn K-Mart Stock!!!!!
Posted by Jo4321 on :
Was it a blue light special?
Posted by Bottomfeeder on :
Jo,Did u short yahoo?
Posted by Jo4321 on :
LOL, believe or not, No.
But I did try and buy some long last week, but missed my entry point, so the Jo effect still working.
Posted by $tock Weazel on :
Update:
My first day "daytrading"...
Didn't hold anything nearly long enough and I missed the EOD NWA run by 5 minutes arghhh!!!!
I'm up $7.48..LOL...but after commissions I am down $140 dollars...
Trades today (21)..
-$w
Posted by jgrecoconstr on :
Looking at that 3% chart posted here before caught my eye. I'm going to give it a shot in the next couple weeks and see how well or poorly it turns out.
Posted by $tock Weazel on :
Good luck jgre! I am in the learning process right now...in and and out way too fast...
I need to have some more patience!!!!!!!
-$w
Posted by PCola77 on :
What did you base your entries/exits on?
quote:Originally posted by $tock Weazel: Update:
My first day "daytrading"...
Didn't hold anything nearly long enough and I missed the EOD NWA run by 5 minutes arghhh!!!!
I'm up $7.48..LOL...but after commissions I am down $140 dollars...
Trades today (21)..
-$w
Posted by $tock Weazel on :
quote:Originally posted by PCola77: What did you base your entries/exits on?
quote:Originally posted by $tock Weazel: Update:
My first day "daytrading"...
Didn't hold anything nearly long enough and I missed the EOD NWA run by 5 minutes arghhh!!!!
I'm up $7.48..LOL...but after commissions I am down $140 dollars...
Trades today (21)..
-$w
Level 2's, 30 minute gap break outs, overall market conditions...
Posted by PCola77 on :
I may be wrong, but I can't imagine Level 2s are of much use on big boards when movement is so fast and furious.
Do you have a scanner, or do you just watch charts for a few select symbols?
Posted by BooDog on :
We'll see how this works out. My new investopedia account. Open Trades Order # Action Order Date & Time Transaction Symbol Quantity Order Price Process(ed) At Expire On Status
It has really helped me to get better prices (a penny or two per share...but it all adds up
I mean sure if you were trading AAPL or GOOG yeah...level two is going to go really fast...I would definently use the charts to figure out if I was going to enter.
JMO...
-$w
Posted by BooDog on :
quote:Originally posted by BooDog: We'll see how this works out. My new investopedia account. Open Trades Order # Action Order Date & Time Transaction Symbol Quantity Order Price Process(ed) At Expire On Status
2/25/2008 10:25 AM 31044658 Sell Limit SCA 3000 $1.77 $29.95 $5,280.05 $103,990.40 2/25/2008 10:14 AM 31043490 Sell Limit SCA 10000 $1.68 $29.95 $16,770.05 $103,750.40
Posted by BooDog on :
My Fitch watch list Symbol Price Change ($) MBI $12.55 0.37 ABK $10.88 0.17 SCA $1.8199 0.27 FBR $2.80 0.05 UVE $5.9699 0.02 SUAI $4.89 -0.09 NAHC $5.89 -0.02 GAN $3.23 -0.16 FAC $3.50 -0.03 AFFM $8.82 -0.09 XL $37.26 0.40 ACAH $0.52 0.02 RBS $7.90 0.26 ramr $1.43 0.02
Posted by BooDog on :
Stop loss kicked me out of NURO - reboot - replan. Freekin bottom bouncers!!
new bid in for 2.78 3* 2.79 x 4 * 2.80 Posted by BooDog on :
CDE 8x7 4.84 (researching)Has a gap to fill and fins due soon.
Posted by BooDog on :
...
Posted by $tock Weazel on :
quote:Originally posted by BooDog: Stop loss kicked me out of NURO - reboot - replan. Freekin bottom bouncers!!
new bid in for 2.78 3* 2.79 x 4 * 2.80
Can't win 'em all Boo...Looks like overall your doing great!!
My day:
Posted by BooDog on :
I'm havin some fun no doubt Weazel. Good to see some come back yesterday. Radar is on RMKR right now. Showing some signs but not quite pincher status yet. Also... I just created this list from Bowser... I haven't had a chance to check any of them out yet and most often by the time I do check his plays they've already been front loaded pretty heavy. Maybe with the rut we've been in there still may be some juice left. Here it is without any DD... Symbol Price Change ($) CIMT $3.98 0.00 ECI $1.97 0.00 FHC $2.70 0.00 VIFL $2.15 0.00 FLL $2.10 0.00 GLOB $1.13 0.00 ITI $2.41 0.00 MDF $2.26 0.00 IBIN $1.37 0.00 XFN $3.05 0.00
Posted by BooDog on :
quote:Originally posted by BooDog: I'm havin some fun no doubt Weazel. Good to see some come back yesterday. Radar is on RMKR right now. Showing some signs but not quite pincher status yet. Also... I just created this list from Bowser... I haven't had a chance to check any of them out yet and most often by the time I do check his plays they've already been front loaded pretty heavy. Maybe with the rut we've been in there still may be some juice left. Here it is without any DD... Symbol Price Change ($)
VIFL lost some power but still higher lows. Needs to show positive growth, very very low volume but moves with it.
FHC consolidation shows this may try and fill the gap at 2.46. We’ll see. Again with the low volume.
ECI This has been around this level for quite some time and without some external factor to draw major attention it will most likely stay there. 300 sh volume. Lol Put in a bid for around 1.10 and then sell it at 2.10 in a couple days. (Best to just pass it by imo). http://stockcharts.com/c-sc/sc?s=ECI&p=D&yr=0&mn=6&dy=13&i=t84874666268&r=4533
CIMT missed the run on this one. Should consolidate imo. Picked up on the volume (still under 100k) so may be worth keeping an eye on it. It is still hangin out in the power zone though but could turn quickly with profit takers. Beyond my risk level. http://stockcharts.com/c-sc/sc?s=CIMT&p=D&yr=0&mn=6&dy=0&i=t67922891986&r=2370 Posted by $tock Weazel on :
Update 2/26: Its 'bout frickin time!!!!!!
My platform froze when I was one the ask w/ NWA...I would have been even more in da green if it it wasn't for that
Posted by PCola77 on :
Are you using real money at this point or paper trading?
Posted by $tock Weazel on :
quote:Originally posted by PCola77: Are you using real money at this point or paper trading?
This is all real baby!!! WEEEEEEEEEEEEEEEEEEE!!!
The Commissions Suckle but its real!
Posted by PCola77 on :
When did you start for real? How much are you down at this point?
Posted by $tock Weazel on :
quote:Originally posted by PCola77: When did you start for real? How much are you down at this point?
About a week ago...I'm down around 250.00...
My broker is making more money than me!!
I'd be up if the commsisions weren't $8 a trade!
-$w
Posted by PCola77 on :
Hope you can turn it around!
Posted by BooDog on :
Oh yeah, sold SIX at 2.21 waiting for it to set back up again. Stop loss didn't kick in on NURO so getting screwed there right now, may wait for the afternoon come back to bail. 2/27/2008 1:01 PM 31100280 Buy Limit NURO 15000 $2.77 $29.95 $41,579.95 $104,010.60 2/26/2008 10:37 AM 31071020 Sell Limit SIX 2000 $2.21 $29.95 $4,390.05 $103,520.50
picked up GSB... 2/25/2008 4:24 PM 31063460 Buy Limit GSB 5000 $3.56 $29.95 $17,829.95 indicators are still a little ify so we'll see.
This is my investopedia acct.
Posted by BooDog on :
Changing strategy on NURO... looking to average down. Normaly against my rules but since I couldn't get out it may be worth it to avreage it down or ride it out. Missed 2.60.
Posted by PCola77 on :
Boo, how are you doing in your quest?
Posted by BooDog on :
quote:Originally posted by PCola77: Boo, how are you doing in your quest?
Lets just say that I'm glad my investopedia acct isn't real money! LOL. Otherwise I'm doing okay, waiting for NURO to base out and DPDW treated me well yest. I called RMKR back on the 26th and it went yest but I didn't get in. Watching to see if that comes back again. Trying to be very conservative and wait for some sense to get back in the market. AS IF! Posted by PCola77 on :
yeah, and the next time the market makes sense will be the first time!
quote:Originally posted by BooDog: wait for some sense to get back in the market.
Posted by Ace of Spades on :
I've been telling you guys for months now....follow Lionmaster....it's impossible to not make insane amounts of money!!!
Recently He called FRPT from under $4 and it went over $5 in like a week...that was an easy 25-33%...CPSL is always a good flipper in the $4 dollar range.....and today the lionmaster called IAR, Which if it hits his target would be more than a 100% profit(a douoble)
Prodigy might not be great for scalping 20 times a day...but if you make a few high profit trades a week...your good! Or even a couple good ones a month...like Lionmaster's FRPT and IAR calls....
However, Here are a few other brokers that I posted about on Ihub on the THE $3012 to $100k Challenge" Board.I think Boo Dog and ohters reposted the same list as well!
I every time I mentioned Lionmaster on this board some say..."oh, well It's not good trading based on some poster"......
Well Lionmaster ain't no ordinary poster! Posted by Ace of Spades on :
I haven't tried any of those brokers just found out about them!
Posted by PCola77 on :
Ace, I see you pointing out his winners, and he proclaims a 96% win rate on his site, but here are his last 3 buys:
BEST 2/26 * 2:42 PM. If you had bought then you would have gotten in somewhere around $4.25-$4.50. You never could have sold for a gain, and it's now down about 10% and there is NO volume, so if you sold a significant number of shares you'd drive the price down even further.
RHD 2/28 * 3:45 PM. he got in at $9.40 and it's now trading at $7. Down over 25% in just a few trading hours
IAR 2/29 * 9:53 AM. He got in at $4.40 and it was at $3.57 (down almost 20%) within 20 minutes. Has rebounded to about breakeven at this point, but I doubt many people would have held through that precipitous drop.
So essentially you'd be down 40%+ if you followed his last 3 plays. yeah, sounds like a real winner to me.
quote:Originally posted by Ace of Spades: I've been telling you guys for months now....follow Lionmaster....it's impossible to not make insane amounts of money!!![/b]
Posted by fourseven on :
just my two cents.. got to watch out for those gurus.. you know, these guys that claim to have a method, cracked the market, whatever.
the way i see it, it's simple statistics. if you put enough guys in a room, give everyone a quarter, and tell'em to flip it a bunch of times.. there's gonna be that one guy who gets heads every time. does that mean he's really good at heads-or-tails? that he's got a good method? i don't think so. he just happens to be that guy who got heads seventeen times in a row. unlikely, but actually pretty inevitable if there's enough people trying.
same with those stock gurus.. with all of us knuckleheads trying and trying and trying, there's bound to be a few who score well for a while. it doesn't really matter who or why, because all we really look at is the bottom line -- and so it could've been an epileptic orangutan hitting the keyboard at random, but if he made good profits, heck, let's follow his method
i used to follow this iceman guy.. lost a good chunk of cash before i figured it out.
Posted by fourseven on :
oh, except for pcola and his form-4 method, obviously. that one actually makes sense Posted by Jo4321 on :
Forget all those guys, just follow my picks.
Oh yeah, but be sure to do the opposite.
quote: Raymond James Financial Inc sets a new 52-week low 10:07 a.m. 02/29/2008
Stillwater Mining Co sets a new 52-week high 09:52 a.m. 02/29/2008
Now guess which one I am long and which one I am short....
Jo (PCola, put me on your list please!)
Posted by PCola77 on :
haha, nice qualification... I was almost offended at being called an orangutan hitting a keyboard
I'm not quite as pessimistic as you with regard to "gurus", but one thing they all seem to have in common is that hey exaggerate their results by hiding losers, if they keep any history at all. that's one reason I started my thread (and I have a board on IHub where i track my progress in the IBox), so I have record of all my trades with this method, both good and bad.
I'm sure there are others out there who have winning methods and keep track of them online somewhere, but I just haven't found them yet...
quote:Originally posted by fourseven: oh, except for pcola and his form-4 method, obviously. that one actually makes sense
Posted by PCola77 on :
Did you get in RJF because of my method? if so, why the heck are you still holding it???
PM me your e-mail address.
quote:Originally posted by Jo4321: Forget all those guys, just follow my picks.
Oh yeah, but be sure to do the opposite.
quote: Raymond James Financial Inc sets a new 52-week low 10:07 a.m. 02/29/2008
Stillwater Mining Co sets a new 52-week high 09:52 a.m. 02/29/2008
Now guess which one I am long and which one I am short....
Jo (PCola, put me on your list please!)
Posted by Jo4321 on :
Yes, I got in back when you posted about it and I sold it at the 5% target.
But then, I broke the rule. When it went down more, I got back in. I shouldn't have even done that, but I did.
I need to get rid of it, but I'm pretty positive that if I sell it today, there will be a dead cat bounce on Monday. I may just wait for monday, so as not to panic sell (everything I own is seriously red today)
Jo
Posted by fourseven on :
quote:Originally posted by PCola77: I'm not quite as pessimistic as you with regard to "gurus", but one thing they all seem to have in common is that hey exaggerate their results by hiding losers, if they keep any history at all.
that's exactly it! all these guys lack credibility, because you can't really see what they're doing. there's this site i was checking out, called Covestor.. when you sign up, you can give them access to your trading account, and they will keep track of all your trades - then you have the usual rankings, discussion forums, etc etc. if someone there is doing well, you can piggyback on their trades, ask about how they pick, and so on.
Posted by PCola77 on :
I like that idea a lot, just tough to put it into practice because obviously people don't just give out account info.
Posted by BooDog on :
quote:Originally posted by Ace of Spades: I've been telling you guys for months now....follow Lionmaster....it's impossible to not make insane amounts of money!!!
Recently He called FRPT from under $4 and it went over $5 in like a week...that was an easy 25-33%...CPSL is always a good flipper in the $4 dollar range.....and today the lionmaster called IAR, Which if it hits his target would be more than a 100% profit(a douoble)
Prodigy might not be great for scalping 20 times a day...but if you make a few high profit trades a week...your good! Or even a couple good ones a month...like Lionmaster's FRPT and IAR calls....
However, Here are a few other brokers that I posted about on Ihub on the THE $3012 to $100k Challenge" Board.I think Boo Dog and ohters reposted the same list as well!
I every time I mentioned Lionmaster on this board some say..."oh, well It's not good trading based on some poster"......
Well Lionmaster ain't no ordinary poster!
AHHHHHH YOU'RE the one I got it from!!! LOL
Took profits on DPDW today at .71 still losing on NURO - but not selling. I'll check out Lion again this weekend. I havta be able to swing since I can't be on the trigger during the day.
Cheers Ace - have a nice weekend!
Posted by BooDog on :
quote:Originally posted by PCola77: I like that idea a lot, just tough to put it into practice because obviously people don't just give out account info.
Usually when I say what I'm buying or am in someone knocks the crap out of it!! LOL - or I am still showing my consistency of making bad trades!! Or maybe Jo rubbed off on me!! WAAAHAHAHA - just kidding Jo!!
Posted by Ace of Spades on :
quote:Originally posted by PCola77: Ace, I see you pointing out his winners, and he proclaims a 96% win rate on his site, but here are his last 3 buys:
BEST 2/26 * 2:42 PM. If you had bought then you would have gotten in somewhere around $4.25-$4.50. You never could have sold for a gain, and it's now down about 10% and there is NO volume, so if you sold a significant number of shares you'd drive the price down even further.
RHD 2/28 * 3:45 PM. he got in at $9.40 and it's now trading at $7. Down over 25% in just a few trading hours
IAR 2/29 * 9:53 AM. He got in at $4.40 and it was at $3.57 (down almost 20%) within 20 minutes. Has rebounded to about breakeven at this point, but I doubt many people would have held through that precipitous drop.
So essentially you'd be down 40%+ if you followed his last 3 plays. yeah, sounds like a real winner to me.
quote:Originally posted by Ace of Spades: I've been telling you guys for months now....follow Lionmaster....it's impossible to not make insane amounts of money!!![/b]
You are a moron ....Lion master's first buy was 10k at 4.40 and then 10k at 3.69..which is average 3.90's....It closed at 4.82....
right there is a 20% gain ....Lionmaster is still holding shares so he can get even more gain....and you said you couldn't have sold for a profit?...how you played bounce plays before???
Where do yo come off making false statements?
And RHD he avaraged down as well, and that one ain't done yet ....watch in a week or so!
You obviosly haven't followed lionmaster that long or every single post..litteraly! That 96% success rate is pretty true...but how many of plays of that 96% were multi baggers....not only is he acurate but his calls are mega money makers!
And I have posted his losers before, and those are the ones he says are gamble plays....
so looks like you don't have a clue what you are talking about....You could have made .19% following lionmaster where you said you could have not sold for a profit! LoL
Posted by $tock Weazel on :
Got some bad news guys...
Today I was trying to do a scalp on FRPT in the last 5 minutes of the day (stupid decision)...I got in at $4.09 and tried to exit but I never got out....I even tried to get out for a loss AH...but my platform would not let me..
..as you guys probably know..some bad news came out AH...(just my luck)...and the stock dove down 20 frickin' percent.
...so here I am with 2000 shares of FRPT down nearly 2k...
Yes...I may have just blew up my account.
*$%*!#%*%*#%!#%!#%!#%!
Posted by BooDog on :
So what's the plan? Short it and bail? Bail and short it? Will your platform let you short it? Nice that they waited 'till just after hours to say something. Paxton just filed his director status and may help this bounce also. Chances for recovery look pretty good imo. I'll be watching. I'm short BHRT also (5.07)- on paper though since I don't short for real. And watching ASTI for another drop also. Oh yeah - don't forget about NURO - losing pretty good on that one now, I have a pretty good tolerance level though so just waiting to double on that one when the charts look better.
Posted by Jo4321 on :
Weazel, welcome to the FRPT house of pain, where one of the best investment decisions of my life last year became one of the worst this year.
If I EVER, EVER have gains like I did last year in any one stock, I will take them and never look back. I will not fret about it going up afterwards, I will not pay any attention to it. I will take my 900% gains and be happy about it.
There might be a dead cat bounce on FRPT on Monday....and maybe someday there will be a buyout at some ridiculously low price, so you may actually come out ahead. Good luck.
Jo
Posted by Bottomfeeder on :
I am glad I didnt buy that one.I have lost 30% of my retirement from my picks so I may be jumping ship on stocks.I trusted a brokerage firm in commodities with $5100 the first week of February and my account shows the long value at $12,608.I may just go that route.It is obvious to me anything I buy,short of a few lucky buys, are going to lose me money.
Posted by PCola77 on :
Jo, if you ever have another 900% gainer, I'll be pretty disappointed, because it means you've learned nothing.
Instead of thinking about the past so often, you need to accept it and learn from it. I don't think you're really there yet. I feel like you've "learned" a little bit here and there, but based on a lot of your posts, I don't thikn you really ever retained it all.
I had my account up from like $10,000 to over $70,000 on two different occassions (one with PAIV and one with BHUB), and both times lost almost all of the gains by holding too long. If my wife knew about it? I'd be divorced. But you know what? If I had sold both at the top and had over $100,000, I would probably have wasted most of the last 2 years looking for the next one. You see, I was lucky on those two. I happened to see the posts at their early stages, and I happened to have enough free cash to put a lot into both. And I was lucky enough to sell most of my BHUB before it got halted. Searching for the next reverse split screw up, corrupt TA, or in your case, tiny OTCBB company that signed a massive government contract, is not going to make you money in the long term. And really, isn't this all about the long term?
If I hadn't missed out on $75,000 in gains, I doubt I would ever have learned as much about stocks in the last 18 months or so as I have. Because I understand that if you make a bunch of money one time, it's probably not because you're good at this, but lucky. So I'm willing to bet that in the long run, learning as much as I have, and creating my form 4 program, will make me that $75,000 and more, and I will be able to say I did it because I am good, not lucky. Besides, if I had never lost that money immediately, who's to say I wouldn't have lost it all over the 18 months since then looking for the next one?
Anyway, like they say, everything happens for a reason, so take the time to really learn from your loss, instead of just outwardly projecting that you've learned from it. I think you can do it, but you have to be willing to.
Best of luck in making that money back, and more!
quote:Originally posted by Jo4321: Weazel, welcome to the FRPT house of pain, where one of the best investment decisions of my life last year became one of the worst this year.
If I EVER, EVER have gains like I did last year in any one stock, I will take them and never look back. I will not fret about it going up afterwards, I will not pay any attention to it. I will take my 900% gains and be happy about it.
There might be a dead cat bounce on FRPT on Monday....and maybe someday there will be a buyout at some ridiculously low price, so you may actually come out ahead. Good luck.
Jo
Posted by PCola77 on :
LOL, okay bud, I'm a moron yet you obviously have trouble reading a clock. Every single statement that I made was 100% true at the time.
Let me ask you this. How much is your account up in the last 2 or 3 months from following his picks?
Let me guess the truth, despite the fact that I'm sure if you bother to respond it will look quite different:
"Well I haven't made very much, if any, but that's not Lionmaster's fault. I just don't have enough money to buy all of his picks, and I sure don't have enough to average down as much as he does. But once I get more money, you'll see"
And therein lies the problem. You'll never have the money to follow his plays exactly, and even on ones that he makes money, you won't, because you can't average down with him.
It's cool though, most people go through the same rationalization when they start trading someone else's picks, whether it's Shakerz, *********, or your lionmaster.
Just remember, if you follow a lion too long, you're bound ot get mauled at some point.
quote:Originally posted by Ace of Spades:
quote:Originally posted by PCola77: Ace, I see you pointing out his winners, and he proclaims a 96% win rate on his site, but here are his last 3 buys:
BEST 2/26 * 2:42 PM. If you had bought then you would have gotten in somewhere around $4.25-$4.50. You never could have sold for a gain, and it's now down about 10% and there is NO volume, so if you sold a significant number of shares you'd drive the price down even further.
RHD 2/28 * 3:45 PM. he got in at $9.40 and it's now trading at $7. Down over 25% in just a few trading hours
IAR 2/29 * 9:53 AM. He got in at $4.40 and it was at $3.57 (down almost 20%) within 20 minutes. Has rebounded to about breakeven at this point, but I doubt many people would have held through that precipitous drop.
So essentially you'd be down 40%+ if you followed his last 3 plays. yeah, sounds like a real winner to me.
quote:Originally posted by Ace of Spades: I've been telling you guys for months now....follow Lionmaster....it's impossible to not make insane amounts of money!!![/b]
You are a moron ....Lion master's first buy was 10k at 4.40 and then 10k at 3.69..which is average 3.90's....It closed at 4.82....
right there is a 20% gain ....Lionmaster is still holding shares so he can get even more gain....and you said you couldn't have sold for a profit?...how you played bounce plays before???
Where do yo come off making false statements?
And RHD he avaraged down as well, and that one ain't done yet ....watch in a week or so!
You obviosly haven't followed lionmaster that long or every single post..litteraly! That 96% success rate is pretty true...but how many of plays of that 96% were multi baggers....not only is he acurate but his calls are mega money makers!
And I have posted his losers before, and those are the ones he says are gamble plays....
so looks like you don't have a clue what you are talking about....You could have made .19% following lionmaster where you said you could have not sold for a profit! LoL
Posted by PCola77 on :
duplicate post...
Posted by Jo4321 on :
Thanks, Pcola. Good stuff and you are right, being lucky doesn't equal being smart.
Posted by $tock Weazel on :
quote:Originally posted by BooDog: So what's the plan? Short it and bail? Bail and short it? Will your platform let you short it? Nice that they waited 'till just after hours to say something. Paxton just filed his director status and may help this bounce also. Chances for recovery look pretty good imo. I'll be watching. I'm short BHRT also (5.07)- on paper though since I don't short for real. And watching ASTI for another drop also. Oh yeah - don't forget about NURO - losing pretty good on that one now, I have a pretty good tolerance level though so just waiting to double on that one when the charts look better.
quote: So what's the plan? Short it and bail? Bail and short it? Will your platform let you short it? Nice that they waited 'till just after hours to say something.
I can't short FRPT on my platform...and even if I could it will already've gapped down 20-40%...
But..I might have a 30 min gap plan...
One possible strat: I'll be watching the first 30 minutes...if it breaks above the 30 minute high I am staying in..if it breaks below I am out...we'll see.
But your right on Boo...The # 1 rule is to protect my capital...
p.s. That NURO is one hellva pincher...and its getting some positive divergence from the MACD hooking..
Good luck!
Posted by $tock Weazel on :
quote:Originally posted by Jo4321: Weazel, welcome to the FRPT house of pain, where one of the best investment decisions of my life last year became one of the worst this year.
If I EVER, EVER have gains like I did last year in any one stock, I will take them and never look back. I will not fret about it going up afterwards, I will not pay any attention to it. I will take my 900% gains and be happy about it.
There might be a dead cat bounce on FRPT on Monday, so you may actually come out ahead. Good luck.
Jo
Thanks Jo...for the welcome
"....and maybe someday there will be a buyout at some ridiculously low price"
I don't plan on waiting that long to find out...I'll be outta this thing Monday or Tuesday.
Good luck to you too.
Posted by $tock Weazel on :
quote:Originally posted by Bottomfeeder: I am glad I didnt buy that one.I have lost 30% of my retirement from my picks so I may be jumping ship on stocks.I trusted a brokerage firm in commodities with $5100 the first week of February and my account shows the long value at $12,608.I may just go that route.It is obvious to me anything I buy,short of a few lucky buys, are going to lose me money.
Sorry to hear that Bottomfeeder...
How do you chosse the stocks you invest in? T/A? Fundies?
-$w
Posted by BooDog on :
"p.s. That NURO is one hellva pincher...and its getting some positive divergence from the MACD hooking.."
I'm watching like a hawk. Still hitting lower lows but there seems to be some attempts (watching fast stochs) that this is trying to consolidate and may start showing a base. 2.43 close and after hours 2.49. Needs some serious luv. Not enough indication yet for me to say it's ready but I'll be watching. I don't like giving MACD much reliability on a bouncer since the indicators bounce off eachother just when you think they may cross. The stoch family has been much more reliable.
STERLING HEIGHTS, Mich.- Land Systems, a business unit of General Dynamics (NYSE: GD), has received $44 million in two work orders from Force Protection Inc. for contractor logistics and spare parts for the Mine Resistant Ambush Protected (MRAP) vehicle program.
Force Protection (Nasdaq: FRPT) and General Dynamics have a partnership to share in the production and program management of the MRAP contract.
The contractor logistics support and spare parts are for maintaining the operational readiness rates of MRAP vehicles deployed with the U.S. armed forces overseas. MRAP spare parts will be ordered by field service technicians employed by General Dynamics Customer Service and Support Company operating from Shelby Township, Mich.
About Force Protection
Force Protection Inc. is a leading American designer, developer and manufacturer of life saving survivability equipment, predominantly ballistic-and blast-protected wheeled vehicles currently deployed by the U.S. military and its allies to support armed forces and security personnel in conflict zones. The Company’s specialty vehicles, the Cougar and the Buffalo, and the Cheetah, are designed specifically for reconnaissance, forward command and control, and urban operations and to protect their occupants from landmines, hostile fire, and improvised explosive devices (IEDs, commonly referred to as roadside bombs). The Company is one of the original developers and primary providers of vehicles for the U.S. military’s Mine Resistant Ambush Protected, or MRAP, vehicle program.
Not sure if this is good or bad...since they are giving the contract and not receiving...
Posted by BooDog on :
That's a repeat Wea$el. Look back around Feb 4th.
Posted by $tock Weazel on :
ooops....google finance is messed up..lol
Posted by $tock Weazel on :
Alright took my $1300 loss at 3.45..theres a big seller and I wanted out. ;(
Posted by BooDog on :
quote:Originally posted by $tock Weazel: Alright took my $1300 loss at 3.45..theres a big seller and I wanted out. ;(
Umm that would be A LOT of sellers imo...
"In other words," Force Protection explained on Monday, "vehicles produced by our joint-venture partner are purchased by us from them at the sales price we sell the vehicles to the U.S. military -- resulting in a zero gross profit for such sales." Therefore, "although revenues increased significantly in 2007, we do not expect our net income to be significantly different than the $16.6 million that we reported for year ended Dec. 31, 2006." http://www.thestreet.com/_yahoo/newsanalysis/aerospace-defense/10405895.html?cm_ ven=YAHOO&cm_cat=FREE&cm_ite=NA
Seems like a stinky pinky move doesn't it?
You may be looking at your loss as a gain soon enough somewhere else. Better to have sumtin den nuttin.
Posted by $tock Weazel on :
quote:Originally posted by BooDog:
quote:Originally posted by $tock Weazel: Alright took my $1300 loss at 3.45..theres a big seller and I wanted out. ;(
Umm that would be A LOT of sellers imo...
"In other words," Force Protection explained on Monday, "vehicles produced by our joint-venture partner are purchased by us from them at the sales price we sell the vehicles to the U.S. military -- resulting in a zero gross profit for such sales." Therefore, "although revenues increased significantly in 2007, we do not expect our net income to be significantly different than the $16.6 million that we reported for year ended Dec. 31, 2006." http://www.thestreet.com/_yahoo/newsanalysis/aerospace-defense/10405895.html?cm_ ven=YAHOO&cm_cat=FREE&cm_ite=NA
Seems like a stinky pinky move doesn't it?
You may be looking at your loss as a gain soon enough somewhere else. Better to have sumtin den nuttin.
I'm just happy it wasn't a bigger loss...Sure I coulda saved about $200.00 dollars and sold at 4.55..but unfortuntaley I don't have a frickin' crystal ball!!!!
NURO is gonna blow hard one of these days!!!!!!
-$w
Posted by BooDog on :
NURO - lol. Another one of my mistakes. I think I have about $40 left in that one. Just waiting and waiting. Check out SCA - had a buy in on that all day waiting for .57 Just might get it even lower tomorrow. That could end up in the .20's or lower if XL bails on them .... the sky sure is falling for them. Just look where they were last summer. They could use a bail out eh?
Posted by jgrecoconstr on :
Tonights the night. Putting 3K in my account and shooting for the 3% chart posted here earlier. It's gonna take a few days to clear the account so no purchases probably until Thursday.
Posted by jgrecoconstr on :
First try is going to be KNX. It looks good at support. I need to hit $16.02 if I can get in at yesterdays close plus 10 bucks for trades.
Posted by PCola77 on :
jgreco, assuming I understand what you mean about the 3% chart, just remember that the chart assumes a 100% success rate. That's obviously never going to happen. Even if you hit 60%, taht means 3 winners for every two losers, and only 3% or every 5 trades.
In otehr words, if you hit at a 60% clip, it will take you 5X the number of trades that the chart tells you. And that's if you limit your losers to 3% also. If you lose 9% on one trade, you have to hit 80% to make your 3%.
Point it, it's a lot harder than it sounds...
But we all try anyway! Posted by PCola77 on :
Not sure if I anyone's pointed this out before, but this is wrong.
1.03^100 is just over 19, so 3000x19 = $57,000. You actually need 200 consecutive 3% trades to get to $1million. Not sure where surfer got his numbers.
quote:Originally posted by a surfer: Hey wdcisco....
Here are some things to ponder.
If you take $3000.00 and make 3% on 100 transactions in succession you will end up with $1,000,000.
Thats right... over a million on just 3%
3000 x 3% = 90 total $3090
3090 x 3% = 92.7 tot $3182.70
Do that 98 more times and you have over a mil.
This of course does not take into effect any transaction costs.
But it goes to show you time and persistence pay.
Also keep in mind that your round trip fees are going to add up to almost 5% at $14 per pop.
Good luck!!!
Posted by PCola77 on :
So weazel, you gonna pay me the $10
quote:Originally posted by PCola77: $10 says that if you're 100% truthful you have less than $1000 at the end.
Posted by jgrecoconstr on :
P.... Believe me I know I wouldn't get 200 consecutive winners. I have been probably around 60% on paper the past few weeks. 29 winners 11 losers. But a good thing to point out and I have no illusions here. I would not have the guts to put everything in if I get into high numbers. I was thinking if I even got up to 6K I would take out the original 3 to protect my investment and start over. I have fun doing this (losing money) I know I lost alot more than that the past year but I never stuck to my plan in that time. I would buy on a hunch or support but not support with indicators. Basically I screwed myself quite a few times and it was costly. So I figure I'd see how this goes. It was an up day for my pick but not enough yet.
Posted by $tock Weazel on :
quote:Originally posted by PCola77: So weazel, you gonna pay me the $10
quote:Originally posted by PCola77: $10 says that if you're 100% truthful you have less than $1000 at the end.
Hey pc...
These guys have your money:
(843) 574-3900 -- MAKE SURE YOU PRESS "0" AS SOON AS YOU GET CONNECTED.
Givem' a ringle-jingle and I'm sure they will cooperate!
What are you waiting for..DO IT!
Posted by PCola77 on :
Why do I feel like I shouldn't dial that number...?
Posted by BooDog on :
I've been watching some of the fins lately...
Yesterday Vs. 8 Feb MBI $12.18 was 14.60
ABK $8.70 was 10.99
SCA $0.77 was 2.00
FBR $2.29 was 3.08
FAC $3.19 was 3.98
AFFM $8.26 was 9.35
XL $34.40 was 42.68
ACAH $0.36 was .70
RBS $7.16 was 7.22
ramr $1.43 was 1.48 on 16 Feb
Not basing these off of their 52 week highs but wouldn't that be a neat trick to ride them right on back up eh??
Okay - so have we helped the shorts enough yet? Watch the news and start looking for solid bottoms. Couple mysteries still to go - especially with ABK and SCA. Couple more weeks???
Today Okay - so yeah... let's go with the couple more weeks thing. LMAO
Orrrrrrr has enough fear been sunk into these bond insurers that they might actually start agreeing to some help? XL is getting hit hard for hangin onto SCA and SCA is getting run through the ringer on its ratings - almost worthless if they don't get some help soon. Everyone looks to throw the towel in on ABK.... SOOOOO what to do - I know what I will be doing. Play these puppies like a pink. Watch for their bounces. I can't be around during the day anymore but I will be watching. Feel free to add suggestions and comments. Like "RUN!! RUN FAR FAR AWAY FORREST!!!!"
Posted by Bottomfeeder on :
LMAO,maybe wait until middle of april if you wanna buy.Some critics say prices will stabilize and go back up half way into this year.Some years it seems to have an easing effect after tax day for buyers if the IRS is off their backs.If you wait for aditional pullbacks I would wait until it gets closer to that date.JMO but what do I know,usually not much but the dow will break 12000 and we still await on addititional cuts from the fed.
Posted by BooDog on :
quote:Originally posted by Bottomfeeder: LMAO,maybe wait until middle of april if you wanna buy.Some critics say prices will stabilize and go back up half way into this year.Some years it seems to have an easing effect after tax day for buyers if the IRS is off their backs.If you wait for aditional pullbacks I would wait until it gets closer to that date.JMO but what do I know,usually not much but the dow will break 12000 and we still await on addititional cuts from the fed.
Here's my theory...
The market will respond to all of these stocks that are getting thrown in the gutter. Not just these but the bubble is losing pressure and they are coming down. Some may recover - some may try a split to recover, some may BK to recover - there will be a lot of tricks out there. I've been waiting for this since November. Been looking for 5 yr plus lows and here they are. A little here and a little there. I'm looking for lows and then plan on holding through the bears. Some may never see light again, some may recover with gusto. Pick your plays and see where they land. Flip out your original capital and hold some long - that is my strategy.
Posted by PCola77 on :
okay, I'm throwing my hat in the ring here for paper trading. this will be things other than my form 4 plays. Gonna start with $5,000 of play money.
This is more for me to keep track than any kind of recommendations. There will be no consistent reason for why I'll post something here. Maybe a cetrain type of play, or just a gut feeling. I've noticed that if I concentrate on a handful of stocks on a watchlist, I get a good feel for how they're trading during the day, so if something happens I have a better feel for where it will go.
It's entirely possible (probable even...) thatit's all in my head and I only "remember" the good ones, so I'm testign that theory here.
Anyway, first one is 140 shares NIHD * $34.50 This one is a form 4 one that's down almost 15% since my form-4 triggerd it, so I'm hoping to play a bounce.
Posted by fourseven on :
hmm.. i see there's quite a few of us now doing the paper trading thing.. do you guys think it would be useful to have one place where we can post & track our trades?
not necessarily to have a ranking or a race or anything like that, but a simple and effective way to keep track of trades (times & amounts) and profits/losses..
Posted by PCola77 on :
yes
quote:Originally posted by fourseven: hmm.. i see there's quite a few of us now doing the paper trading thing.. do you guys think it would be useful to have one place where we can post & track our trades?
not necessarily to have a ranking or a race or anything like that, but a simple and effective way to keep track of trades (times & amounts) and profits/losses..
Posted by BooDog on :
quote:Originally posted by PCola77: okay, I'm throwing my hat in the ring here for paper trading. this will be things other than my form 4 plays. Gonna start with $5,000 of play money.
I'm putting a little here and a little there. When I can free it up. Picked up a little more on the major indices. Will be buying through the crash of '08 (LOL) looking for the long term gain. I am forecasting this to last through mid summer but some of these bottoms will only be here and then disappear. Still keeping some flip cash around too - specially for some pinks!
Posted by fourseven on :
quote:Originally posted by PCola77: yes
cool. so what kinds of features would you like?
Posted by PCola77 on :
Just a place where you input symbol, date/time, price, # of shares. I keep my own spreadsheet, but a central place where some of us could see how we're all doing would be cool.
Posted by fourseven on :
i think i've got something even better. give me a couple of weeks to hack it together.. Posted by jgrecoconstr on :
Looks like I will be holding KNX for a while.Just didn't turn around.
Posted by $tock Weazel on :
quote:Originally posted by jgrecoconstr: Looks like I will be holding KNX for a while.Just didn't turn around.
Just a tip jgre, cause I've made this mistake before...
Take your loss and get your capital back! This isn't a bull market anymore.
If I was stubborn and didn't take my $1300 loss on FRPT..I'd be down over 4-5K right now!
But hell what do I know I'm just a Weasel. Posted by fourseven on :
i second that, Weasel.. i had trouble taking losses, but eventually i came up with a rational explanation that was plain enough to convince me.
check this out:
(A) is the original trade, where i went long. (B) is right now, where i'm sitting on a loss
i have a choice today: sell, or hold.
if i hold, i'll probably sell somewhere near (D), once the price is close to the original buy price again, and i'll be relieved as heck not to have lost too much of my capital.
if i sell today at a loss, and keep watching the stock, chances are i'll be tempted to buy back in somewhere around (C) having done that, i'll probably sell near (D). as long as i kept my original loss small, i'll end up with a net gain..
and yes, though this is an especially prudent technique in a bear market, it works well in a bull market too.. worst case, you miss out on some potential gain and most of the potential loss
Posted by fourseven on :
having said that, KNX looks bullish near the end of today's session Posted by $tock Weazel on :
Thanks fourseven for taking the time to post that!
FRPT HIT 2.25!!!! Holy smakeral. That would have been a $3,680.00 loss.
I think KNX will bounce here on the 5 minute chart..JMO.
Good luck JGRE.
Posted by $tock Weazel on :
And of course as I typed that, it bounced... Posted by fourseven on :
3:40 PM -> long QTWW at .81
Posted by $tock Weazel on :
quote:Originally posted by fourseven: 3:40 PM -> long QTWW at .81
AH .94!!!! Posted by $tock Weazel on :
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Posted by Bottomfeeder on :
Aside from the prize it would be a good way for those of us to explore more knowledge in picking stocks.I am to dumb to grasp the meaning or value of L2's.
Posted by jgrecoconstr on :
I haven't looked at KNX since I just got in. Thanks for the advice on the losses. One of the biggest mistakes I made was picking up FRPT when it went down to 12. It had support around there and 15 so many times I figured it was a no brainer. I didn't go by anything else other than that. I got rid of it today. I only get to check the prices when I get home to see how I did or call the wife midday to see how they are doing so I can't watch them as much as some of you guys here and react to the changes that quickly. Having said that. Does anyone here own a blackberry and if so how are they for getting a signal, can you check your stocks but and sell with them. If so is it quite a time ordeal like a laptop is to load, hook up, connect to the the net. I know my laptop takes like 5 minutes or more to start, get the wireless connection etc.etc. I just don't have the time to sit and wait for that while I'm on a job. So anyone who has a blackberry can you fill me in on how they work for checking and selling your stocks.
Posted by jgrecoconstr on :
KNX looks good for today. I need a 9 cent gain to get the 3%. I'll put a stop loss on it if it gets over that point.
Posted by PCola77 on :
I have one and don't thnk I could live without it anymore. I actually was at teh hospital for a few hours yesterday morning for an IV infusion that I get every 6 weeks, and was making trades from the room. It's fine for watching a single stock, but you can't have multiple browser windows open, or run streaming stuff (as far as I know), so basically I just keep refreshing the "quote" page and them surf to the trade page when I'm ready.
So the short answer is it's extremely convenient in the absence of otehr options, but I wouldnt' daytrade on it.
quote:Originally posted by jgrecoconstr: I haven't looked at KNX since I just got in. Thanks for the advice on the losses. One of the biggest mistakes I made was picking up FRPT when it went down to 12. It had support around there and 15 so many times I figured it was a no brainer. I didn't go by anything else other than that. I got rid of it today. I only get to check the prices when I get home to see how I did or call the wife midday to see how they are doing so I can't watch them as much as some of you guys here and react to the changes that quickly. Having said that. Does anyone here own a blackberry and if so how are they for getting a signal, can you check your stocks but and sell with them. If so is it quite a time ordeal like a laptop is to load, hook up, connect to the the net. I know my laptop takes like 5 minutes or more to start, get the wireless connection etc.etc. I just don't have the time to sit and wait for that while I'm on a job. So anyone who has a blackberry can you fill me in on how they work for checking and selling your stocks.
Posted by PCola77 on :
I'm paper shorting TMA at 3.40. 400% in two days? Has to pull back soon, right...?
Posted by Ace of Spades on :
quote:Originally posted by PCola77: I'm paper shorting TMA at 3.40. 400% in two days? Has to pull back soon, right...?
Great Call....I'm with you on this one!
P.S. So is lionmaster, who also called the run up Posted by PCola77 on :
I'm going to "cover" at $2.83 for 20% if it gets there.
Posted by PCola77 on :
Well, it hit $2.81, so I guess I'd have covered. Woo hoo.
Posted by Bottomfeeder on :
PCola,TMA was down by a lot either last friday or monday.I cant remember which.Yesterday was up 191% so it may pull back sum but with the fed puttin new money out and the fed meeting later this month it may not drop much,but what do I know... Posted by PCola77 on :
Yeah, I saw that drop. Crazy stuff. I'm "out" now thoguh, so it can do what it wants Posted by PCola77 on :
"In" ABK at $6.96
Posted by $tock Weazel on :
Nice plays guys!!! WEEEEEEEEEEEEEEEEEEEEE!!!!!
Posted by fourseven on :
nice work.. now if it only was that easy with real money Posted by BooDog on :
in BRLC .9005
Posted by jgrecoconstr on :
Sold KNX today for the target price of 16.09 plus the trades I made the 3%. The hardest thing ever is to decide to stick to that 3%. I know whatever I buy I should immediately put a sell order on to keep to the plan but .... I don't think it's greed maybe the thrill of watching it go higher I don't know but I could have made more on it. I have to make myself be happy I made what I was trying to make. That's the tough part if I lose I lose and shrug it off but if I have a chance to make the buy count more I get dissapointed I didn't let it ride.
Posted by jgrecoconstr on :
PCola.....I did just pick up a blackberry today. I'm sure it will take weeks to learn to use it but I am happy I won't have to screw with the laptop or call the wife to see what the prices are 5 times a day. Thanks for the input on it.
Posted by BooDog on :
quote:Originally posted by jgrecoconstr: Sold KNX today for the target price of 16.09 plus the trades I made the 3%. The hardest thing ever is to decide to stick to that 3%. I know whatever I buy I should immediately put a sell order on to keep to the plan but .... I don't think it's greed maybe the thrill of watching it go higher I don't know but I could have made more on it. I have to make myself be happy I made what I was trying to make. That's the tough part if I lose I lose and shrug it off but if I have a chance to make the buy count more I get dissapointed I didn't let it ride.
With these bottom divers I've been putting $100 and just riding them out tíll summer. I like the Bowser theory... when they double take the original out and let it ride. Who knows... I get enough of these major gap downers I could be sitting pretty good by the end of summer. I'm liking uhcr right now for a flipper!
Posted by fourseven on :
ok, i'm paper-long BQI and WCI (at closing prices today)
Posted by BooDog on :
Hard to buy anything with everyone screamin the sky is falling! LOL. Nice Ace - I've been watching and had an alert set for 1.6 but doubt it will see that low.
Radar on GPCI .59
QPC to Showcase New Technology, Products Thursday 03/13/2008 10:56 PM ET - M2 - 10 Meters
QPC Lasers, a designer and manufacturer of high brightness, high power semiconductor lasers for the consumer, industrial, defense, and medical markets, announced that it will showcase its next generation products and technologies at the SPIE Defense & Security conference on March 18-20 in Orlando, FL, in booth 1316.
The company stated that its participation at this event further establishes QPC's already strong presence in the defense and security market, which includes active contracts with the US Army, DARPA, Navy and Missile Defense Agency.
The QPC exhibit will feature several Ultra laser configurations including a 120 Watt eye-safe wavelength model and a 425 Watt near infrared model suitable for many defense applications. Additionally, the company will exhibit its BrightLase high power single mode eye-safe wavelength lasers and demonstrate its visible laser technology which can be customized for next generation laser heads-up displays, dazzlers, or flight simulators.
On Monday March 17th, the company has been invited to present a technical paper entitled "High brightness semiconductor lasers from 780-1800nm" at 3:40 pm.
QPC's active Department of Defense Sponsored Programs include:
- US Navy - Low cost engines for directed energy weapons - DARPA ADHEL High power single mode lasers for direct diode high energy laser weapons - Army Eye-safe wavelength lasers with internal gratings for engines for directed energy weapons - Missile Defense Agency Infrared countermeasures, biochemical agent detection and battlefield communications
The SPIE Defense & Security conference is one of North America's largest annual defense conferences and features the latest in imaging, sensors, displays, sensor data analysis, simulation and more. It is attended by participants from the US Navy, Army and Air Force, Lockheed Martin, NASA, Raytheon, and many other top organizations.
((Comments on this story may be sent to newsdesk*closeupmedia.com))
quote:Originally posted by BooDog: Hard to buy anything with everyone screamin the sky is falling! LOL. Nice Ace - I've been watching and had an alert set for 1.6 but doubt it will see that low.
Radar on GPCI .59
QPC to Showcase New Technology, Products Thursday 03/13/2008 10:56 PM ET - M2 - 10 Meters
QPC Lasers, a designer and manufacturer of high brightness, high power semiconductor lasers for the consumer, industrial, defense, and medical markets, announced that it will showcase its next generation products and technologies at the SPIE Defense & Security conference on March 18-20 in Orlando, FL, in booth 1316.
The company stated that its participation at this event further establishes QPC's already strong presence in the defense and security market, which includes active contracts with the US Army, DARPA, Navy and Missile Defense Agency.
The QPC exhibit will feature several Ultra laser configurations including a 120 Watt eye-safe wavelength model and a 425 Watt near infrared model suitable for many defense applications. Additionally, the company will exhibit its BrightLase high power single mode eye-safe wavelength lasers and demonstrate its visible laser technology which can be customized for next generation laser heads-up displays, dazzlers, or flight simulators.
On Monday March 17th, the company has been invited to present a technical paper entitled "High brightness semiconductor lasers from 780-1800nm" at 3:40 pm.
QPC's active Department of Defense Sponsored Programs include:
- US Navy - Low cost engines for directed energy weapons - DARPA ADHEL High power single mode lasers for direct diode high energy laser weapons - Army Eye-safe wavelength lasers with internal gratings for engines for directed energy weapons - Missile Defense Agency Infrared countermeasures, biochemical agent detection and battlefield communications
The SPIE Defense & Security conference is one of North America's largest annual defense conferences and features the latest in imaging, sensors, displays, sensor data analysis, simulation and more. It is attended by participants from the US Navy, Army and Air Force, Lockheed Martin, NASA, Raytheon, and many other top organizations.
((Comments on this story may be sent to newsdesk*closeupmedia.com))
AP GM Recalls 200,000 Sedans Over Fire Risk Friday March 14, 4:56 pm ET By Tom Krisher, AP Auto Writer GM Recalls Buick Regal, Pontiac Grand Prix Cars, Says Don't Put Them in Garage Until Fixed
DETROIT (AP) -- General Motors Corp. is recalling 207,542 Buick Regal and Pontiac Grand Prix sedans over a risk they could catch fire, and warned their owners not to park the cars in garages until they are fixed. ADVERTISEMENT
The automaker said Friday it is recalling the 1997-2003 Buick Regal GS and Grand Prix GTP models with 3.8-liter supercharged V-6 engines.
During hard braking, drops of oil can leak from the engine onto the exhaust manifold, and fires can start if the oil gets hot enough, the National Highway Traffic Safety Administration said on its Web site.
GM spokeswoman Carolyn Markey said the problem has caused 267 vehicle fires and six injuries, five of them minor and one moderate. It also has caused 17 fires in structures, GM said.
The NHTSA said that if the exhaust manifold is hot enough and the oil gets below a heat shield, "it may ignite into a small flame and in some cases fire may spread to the plastic spark plug wire channel."
Markey said GM sent letters to the owners on Thursday telling them the vehicles are safe to drive, but they should not be parked in garages, carports or other structures until the problem is repaired.
The automaker is working with suppliers to get the parts to fix the problem, and owners will be notified as soon as the parts are available, Markey said. She did not know how long it would take to get the parts but said it would be soon.
If owners smell burning, they should take their car to a dealership for inspection, she said.
"Consumers can always can go to their dealership if they do smell something and are concerned," she said.
They also should run premium 91 octane fuel, which is recommended for the cars, she said.
"Lower octane fuel increases under-hood temperatures during operation," Markey said.
Markey said there are "very, very low incidences of vehicles actually catching fire while driving."
GM shares fell $1.09, or 5.4 percent, to close at $19.22 Friday.
GEN MOTORS(NYSE: GM) After Hours: 19.27 0.05 (0.26%) as of 7:58PM ET on 03/14/08 Last Trade: 19.22 Trade Time: 3:59PM ET Change: 1.09 (5.37%) Prev Close: 20.31 Open: 20.80 Bid: N/A Ask: N/A 1y Target Est: 33.30 Day's Range: 19.00 - 20.80 52wk Range: 19.00 - 43.20 Volume: 32,757,510 Avg Vol (3m): 17,188,300 Market Cap: 10.88B P/E (ttm): N/A EPS (ttm): -68.431 Div & Yield: 1.
Did I see "The All American Supercar" somewhere? Wouldn't it be something to see GM mention it.
Posted by jgrecoconstr on :
Bought DKS at 26.16 Friday morning sold for just over 3% late in the day for 27.15. So far so good after 2 trades, balance from intial 3k is $3198.16 right in line with the 3%chart.
Posted by jgrecoconstr on :
Looked and looked and I could not find one stock I liked for a play today.
Posted by BooDog on :
Source: Company press releases. Ratings courtesy of Motley Fool CAPS; TBA = to be announced. Most of these
"Looked and looked and I could not find one stock I liked for a play today."
Watching NURO and SCA
good luck - i'll be buying more into the indecis tonight. Should be a very interesting day.
EDITED- I expect SCA to have a pretty decent drop for a nice flip. Could say that about anything I guess eh? Posted by jgrecoconstr on :
Found 2 for tomorrow but not quite sure which to gamble on. OTT $15.21 had a strong candle was heading before today toward an established support line sine 2006. RSI and Sto are inline with what I have been looking for. Always has a low volume though. CTL * $33.91 found support today and has a strong candle and good volume but the RSI is flat, Sto looks good coming from 18. Any one have any input?
Posted by BooDog on :
New 52-week Lows nasdaq 383 nyse 400 amex 39 tse 73 cdnx 28 TOTAL 923
last but not least Mutual funds 3645
With many stocks already at 5yr+ lows yesterday provided some great opportunities imo - and the charts show the reaction of those taking advantage. Will we see another massive dump? I think so. I'm not saying go buy everything and anything at all. Use your DD and find the good apples. I have eyes on GM, looking to see if it hits around $14. Pretty crazy out there. Good luck!
Posted by BooDog on :
I wouldn't say buy anything... in fact, the media would have us all running for the hills right now imo. The sky is falling!!!!!
lol
So we should have a pretty green day then eh?
Posted by BooDog on :
GM left me in the dust. How many predict the bears take back over after today???
Posted by PCola77 on :
I think if we get a 75 point rate cut, it's what's expected, and the market will then start sliding back down. If we get a 100point cut, it will be a hort lived boost. If it's under 75 points, look out below.
Posted by BooDog on :
sold nuro for a loss. see if it bounces
Posted by BooDog on :
got some on my fake account GM GENERAL MOTORS CORP 120 $18.65 $2,278.80
Posted by BooDog on :
quote:Originally posted by BooDog: got some on my fake account GM GENERAL MOTORS CORP 120 $18.65 $2,278.80
out at 19.03 lol stupid thing has like a $30 com. Posted by jgrecoconstr on :
Had a hold still on my account...... I hate that 3 day wait thing. I was leaning toward OTT even though I didn't like the small volume. Wouldn't you now it went up. At this rate if I only get one trade a week and if I was on the lucky side of things and made all perfect trades which I know will never happen it would take two years to acheive the chart of 3% way back on this thread.
Posted by BooDog on :
Early market I wasn't sure of holding anything. Coulda woulda. I cashed out 100% back to cash at the close on my main account with the indices - nice gains there but I'm good at leaving plenty on the table too. Could see a couple nice days. As far as scottie I am still on cash there too so understand your 3 day wait... trick is to leave enough cash available to cover or get a margin account so the funds clear on margin.
Posted by jgrecoconstr on :
Boo I can't keep any cash in cause I'm putting it all in one stock at a time. I was in a Margin account last year. I wasn't to comforrtable with that. Just gonna have to suffer on the one or two trades a week deal for quite awhile.
Posted by BooDog on :
quote:Originally posted by jgrecoconstr: Boo I can't keep any cash in cause I'm putting it all in one stock at a time. I was in a Margin account last year. I wasn't to comforrtable with that. Just gonna have to suffer on the one or two trades a week deal for quite awhile.
boooyaaaa. good luck with that. I won't do margin either until I know what the hell I'm doing. Some good people here to learn from. Diversity has saved my ass though .... plenty.
Posted by $tock Weazel on :
Alright!! I was accidentally banned for a couple days...Good to be back.
Posted by T e x on :
welcome home... Posted by BooDog on :
Welcome back Wea$el! You can have your thread back now!!
Posted by $tock Weazel on :
Thanks for keeping it alive guys! Posted by jgrecoconstr on :
Trying today for 294 shares of ARM. To me it looks good.
Posted by Bottomfeeder on :
jg,why such an odd lot? Or is it all the settled funds you for today? Not prying just curious.
Posted by jgrecoconstr on :
I don't mind you asking. For the fun of it I am trying to follow the 3% chart that was posted earlier on here. So the odd lot comes from the available funds to put as much of the lump sum into that one stock to make the 3%. This is my third attempt. So far I am in line with the gains.
Posted by PCola77 on :
jg, did you say you have $3000? If so, my advice would be to go ahead and set up a margin account if you are disciplined enough to not actually trade on margin. Confirm with your broker to be sure, but having a margin account means you don't have to worry about the 3 day settement, and you don't get charged any margin interest unless you buy more than your $3,000 worth.
Posted by Jo4321 on :
That is how it is with Fidelity. I have a margin account, but don't buy on margin, so it just eliminates the three-day wait.
News for 'SCA' - (=DJ Merrill Lynch Sues SCA Unit Over $3B In Credit Default Swaps) By Chad Bray
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--A Merrill Lynch & Co. (MER) unit sued a unit of bond insurer Security Capital Assurance (SCA) on Wednesday, alleging the company is attempting to avoid its financial obligations of up to $3.1 billion under seven credit default swaps.
The lawsuit, filed in U.S. District Court in Manhattan, alleges that SCA unit XL Capital Assurance Inc. improperly issued notices purporting to terminate the seven credit default swaps "without any basis and under a pretext based entirely on rank speculation" after entering into the binding contracts.
"Apparently in light of the current dramatic downturn and deterioration in the credit markets, defendants are having 'sellers' remorse' and are seeking to avoid their potential obligations of up to approximately $3.1 billion under the credit default swaps at issue," the lawsuit said.
The lawsuit comes less than a week after SCA said it will write no new business while trying to raise capital as it faces potential large losses in financial guarantees written on mortgage securities backed by subprime loans. The company also has said it will try to terminate some of its contracts in order to reduce its potential exposure.
The company recently reported a fourth-quarter net loss of $1.197 billion, or $18.67 a share, compared with net income of $35.8 million, or 56 cents a share, in the year-ago quarter.
The loss was driven in part by a market value write-down of $518.8 million in its credit derivatives portfolio and a loss reserve of $651.5 million for its collateralized debt obligation business.
"We filed suit to make clear that XL Capital Assurance Inc. is required to meet its contractual obligations for credit default swaps it agreed to with Merrill Lynch," said Mark Herr, a Merrill Lynch spokesman, in a statement. "Merrill Lynch is confident that the credit default swaps are fully enforceable. The complaint seeks a court order that each of the credit default swaps remains in full force and effect."
SCA is 42% owned by XL Capital Ltd. (XL). An SCA spokesman wasn't immediately available for comment.
-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray*dowjones.com
(END) Dow Jones Newswires
March 19, 2008 15:13 ET (19:13 GMT)
bounce at .54?? and .34??? naaaay prolly go up to 1.46
Posted by BooDog on :
My friend told me he made 7k on SCA from my pick. Sweet!
Posted by $tock Weazel on :
quote:Originally posted by BooDog: My friend told me he made 7k on SCA from my pick. Sweet!
Wow. Hes owes you bigtime! Posted by BooDog on :
It's all the one's he didn't tell me I'm wonderin about! lmao
Posted by jgrecoconstr on :
screwed up on setting a trade trigger to catch the gains on ARM today. Got in at 10.95 and the trigger sold the stock automatically at 11.28 I need 11.32 to make a 3% gain so I only picked up around 2% but much better than a loss. it would have been nice though to get out of it around 12. I did apply for margin but heres the problem I see with that. I have to keep putting the whole boat in one stock. So lets say I have $3,500 available in margin. The next stock I play I have to invest around 3,300(3 days when it clears) If I make a good pick that will go up 100 bucks eventually I will (hopefully) surpass what I have available on margin and I won't be able to use the whole amount to keep trying this 3% gain chart. Make sense..... Right or wrong?
Posted by PCola77 on :
I have no idea what you mean. Margin is calculated as a %, and if you're going "all-in" on each, the % would probably be 50, meaning you have to have 50% of your money in the trade. In other words if your account has 3000 you can buy 6000 worth. But the whole point is that you won't actually be using margin. You'll still just buy your 3000 worth, but you can sell it and buy more right away.
Let me know if that doesn't clear it up.
Posted by jgrecoconstr on :
So P, what your telling me is Margin isn't a set amount it goes up in line as my cash balance goes up? It's been over a year since I had a margin account so I don't remember how the money went. So if I actually increased my balance to say 5k then I would have 5 k available on margin? If I had 10K then I'd have 10 margin etc.etc,,
Posted by PCola77 on :
Kinda sorta. There's no set "amount available". Basically the broker can have whatever requirements they want (I think, and probably with some govt imposed limitation). What I think is standard is 20% if you're well diversified (i.e., if you have $3,000 you can buy $10,000 worth of stock, because you'd put up 30% of the money), and if you put it all into one stock it's 50%, and for stocks under $5, or others that they deem to be "risky", they may not allow margin borrowing.
But like I said, this shouldn't be an issue for you, because you aren't planning to trade on margin. You'd be just setting it up to get around the 3-day rule, but you'd never really be trading on margin.
Posted by T e x on :
". . . but you'd never really be trading on margin."
a good decision, imo
Posted by jgrecoconstr on :
I do remember from before since you mentioned it. You can't buy on margin any stock under 5 bucks. But I don't plan to ever play a 5 dollar stock again. I like these big board stocks at support with room to move. And thanks for the info and suggestions.
Posted by Ace of Spades on :
quote:Originally posted by jgrecoconstr: I do remember from before since you mentioned it. You can't buy on margin any stock under 5 bucks. But I don't plan to ever play a 5 dollar stock again. I like these big board stocks at support with room to move. And thanks for the info and suggestions.
You can buy any stock you want on margin....get a different broker!!!
You can also short what ever you want!
for most retail brokers they give you 2x margin...meaning you can buy 2x you cash worth of stocks...if you have 5k you can buy 10k worth of stocks.
If you have a daytrading account...you have 4x buying power during the day...but the normal 2x if you hold overnight....
but like I said you can find brokers that will let you do what ever you want...litteraly!
Posted by jgrecoconstr on :
Ace I have never shorted a stock before. I never read up on that or tried to learn it. I did try reading a book on options a few weeks back but I got lost in the pages. Different terminologies and I couldn't absorb anything. I set that down rather quickly. For the time being I'm going to just try and stick with the one thing that I think and feel I understand and see how that goes.If I can get the margin and get past the three day hold and trade smartly and not waver from the plan I should be OK. That said the three day wait at the moment isn't hurting cause I couldn't find a stock last night that looked like a good play today.
Posted by T e x on :
attaboy...If you don't understand it, don't trade it.
Posted by Jo4321 on :
The three-day thing isn't such a bad thing. Sometimes,it keeps you from jumping back in a stock at the wrong time.
Jo
Posted by PCola77 on :
Jo's the expert in the field, listen to the woman Posted by $tock Weazel on :
I just ordered this book for some hardcore reading:
I know a lot about TA but almost nothing about the Fundamentals..I'll let you guys know how it is Posted by BooDog on :
quote:Originally posted by BooDog: in BRLC .9005
out 1.16
Posted by BooDog on :
ista Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.01[-] $260.00 $2.17 0 0% $0.00 $2.17 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 75 3 NASDAQ NASDAQ $0.00 $0.00 $10.74 $1.15
rgci Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.01[-] $260.00 $1.09 0 0% $0.00 $1.09 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 75 3 NASDAQ NASDAQ $0.00 $0.00 $3.60 $0.85
usu Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $3.74[+] $3.75 $3.74 0 0% $0.00 $3.74 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 145 557 NYSE New York NYSE New York $0.00 $0.00 $25.65 $3.15
nine Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $2.02[+] $2.82 $2.17 0 0% $0.00 $2.17 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 2 10 PCX Pacific NASDAQ $0.00 $0.00 $7.20 $2.04
iso Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.15[-] $0.1683 $0.16 0 0% $0.00 $0.16 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 144 72 AMEX American AMEX American $0.00 $0.00 $0.33 $0.13
ntn Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.42[+] $0.51 $0.47 0 0% $0.00 $0.47 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 83 2 OTHER AMEX American $0.00 $0.00 $1.25 $0.32
wze Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $2.10[-] $2.20 $2.1699 0 0% $0.00 $2.1699 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 41 15 OTHER AMEX American $0.00 $0.00 $3.25 $2.00
smi Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $3.04[+] $3.13 $3.12 0 0% $0.00 $3.12 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 1 51 NYSE New York NYSE New York $0.00 $0.00 $7.87 $2.75
akrx Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.01[-] $260.00 $4.78 0 0% $0.00 $4.78 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 75 3 OTHER NASDAQ $0.00 $0.00 $8.19 $4.37
svlf Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.10[-] $2.86 $2.29 0 0% $0.00 $2.29 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 10 10 NASDAQ NASDAQ $0.00 $0.00 $6.91 $1.98
dcgn Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $0.01[-] $260.00 $1.75 0 0% $0.00 $1.75 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 75 3 NASDAQ NASDAQ $0.00 $0.00 $4.61 $1.56
cot Alerts Bid[tick] Ask Last $ Chg % Chg Open Prev Close Volume Action Manage $2.26[-] $2.32 $2.31 0 0% $0.00 $2.31 0 Trade Bid Size Ask Size Last Exchange Primary Exchange High Low 52-Wk High 52-Wk Low 8 38 NYSE New York NYSE New York $0.00 $0.00 $17.33 $1.76 nice pincher! still waiting for updates from Moody also. And see the Eddy thread on hot stocks.
Some of these are picks from Mike on topgun.
Posted by $tock Weazel on :
Nice list Boo. Some real winners there
Check on the "other site"...I listed them in charts for us to keep track of.. Posted by $tock Weazel on :
NURO is on watch for tomorrow!!!! Broke out of downward trend. Posted by BooDog on :
Very cool Weazel!
Cheers! Posted by $tock Weazel on :
I forgot to mention SYBD here last night..but I posted it on the "other site"...up over 16%! Posted by fourseven on :
picked up KERX at .61
Posted by $tock Weazel on :
quote:Originally posted by fourseven: picked up KERX at .61
KERX up 10% since you called it nice job fourseven Posted by Jo4321 on :
Posted by fourseven on :
shait. out of KERX at .58 (stop loss). should've taken that 10% when i had the chance..
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