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$10 says that if you're 100% truthful you have less than $1000 at the end. Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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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!
Posts: 2321 | Registered: Aug 2006
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posted
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!
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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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!
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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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)
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
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$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!
Posts: 1458 | From: Ohio | Registered: Mar 2004
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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.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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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.
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
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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)
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
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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.
Posts: 1458 | From: Ohio | Registered: Mar 2004
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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!!!
Posts: 1458 | From: Ohio | Registered: Mar 2004
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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?
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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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.
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?
-------------------- the market is not your mother Posts: 1282 | From: Montreal | Registered: Mar 2006
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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!
Posts: 2321 | Registered: Aug 2006
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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!
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