Hi Gang! I'm frustrated as I've been stuck in CDVJ since March 9th, waiting for the 'BIG' PR! I was soooooo STUCK I couldn't afford to sell, and have averaged down from .0142 to .0044, but have $3,000 tied up there. THOUGHT yesterday was going to be the start of something big, but as usual: Nada ;-(
Hopefully Tuesday - but I'm not holding my breath.
I was wondering if any of you have tried the following, and how did you do at it, and why???
I know it's day trading (or VERY short term trading) - but with the pennies and sub-pennies, I think I'd have a better shot:
Take $1,200 + $11 (actually $10.99)fee (I use Ameritrade. This is just a number I picked. So is the 12% I've set for a target.
GOAL: To make 12% per trading day on your money and compound it. (I subtract $22 from each gain for in-out fees).
DAY 1) $ 1,200 x 12% = $144 - 22 = 122 + 1,200 = $1,322
DAY 2) $1,322 x 12% = $158 - 22 = 136 + 1,322 = $ 1,458........ etc, etc, etc
At the end of 5 days, you'd have approx: $1,986
At the end of 10 days: $3,351
At the end of 15: $ 5,759 - etc; etc.
This is all based on starting with $1,200 and putting it all in the same stock at once (although you may play a different stock every day) AND the assumption that you clear 12% per day.
If you used $2,400 to start, it would all be double, etc.
After I got to $3,000 though, I'm considering putting $1,000 into each of 3 stocks. I'm wondering if the odds would work out better than all in 1.......
Also, by ONLY (LOL) shooting for 12%, you COULD buy a stock while it's rising, running or play gaps even.
I'm thinking that subs like AGRD, ADVC and CESY are good ones. Only problem is at .001 (approx. where ADVC and CESY are) you could buy 1,200,000 shares, but MANY days they don't trade 10-20 million. BUT a tiny move to .0012 (which they do all day - but if you get filled is also another consideration) is 20% !! Other days they trade 50-300 million......
I guess I'd have to just keep watching volume, news, and keep my eyes open for momentum plays.
Thanks to all who respond,
Steve
[This message has been edited by Love the Market (edited July 03, 2004).]
[This message has been edited by Love the Market (edited July 03, 2004).]