So, after reading and learning some signaling and whatnot, I entered a trade.
Oh, but first, I already made (wait for it!)
THREE CENTS!
Yep, the money sitting in my account pulled my a whole .03 in 9 days of just sitting there. I'm feeling pretty good about this stock trading thing. At this rate, I'll be retiring in 1,000 years... So I better make a trade, huh.
12/12/08
So, I make my first trade. I buy 10 shares of SDS - ProShares Ultra Short S&P - at $92.64. I wasn't quite ready to take the whole $2,000 plunge (big spender, here). I was betting on the stock market to go down (because it should have).
FAIL!
12/15/08
The markets made a Christmas rally, in the face of all kinds of bad news, and my bear market stock got whacked. I sold out at $88.15. Yep, I started this little fun off with a negative 4.85% transaction. Beginner's luck!
So, that's -1 down, 101 to go... (Actually, since I only traded half of the $2k, it's more like -.5 down, 100.5 to go, but whatever...)
Showing posts with label trade. Show all posts
Showing posts with label trade. Show all posts
Thursday, January 8, 2009
Episode 1
So it begins.
11/21/08
I opened my online trading account and funded it with a whopping $2,000. No trading, just setting up the stage and reading. I've been messing around and educating myself at:
investopedia.com
finance.yahoo.com
stockcharts.com
I also read a few blogs here and there. Financial Jenga http://jengafinance.blogspot.com/ is written by someone who knows way more than I'll probably ever know. I happen to get to pick their brain a bit on a forum we frequent. I've learned a lot from "dataSlave" and a few others. There are others, but I don't quite recall them all. I'll post them as I get around to'em again.
Nothing to see here, but I said I'd tell you what I did, so....
Money Cometh
11/21/08
I opened my online trading account and funded it with a whopping $2,000. No trading, just setting up the stage and reading. I've been messing around and educating myself at:
investopedia.com
finance.yahoo.com
stockcharts.com
I also read a few blogs here and there. Financial Jenga http://jengafinance.blogspot.com/ is written by someone who knows way more than I'll probably ever know. I happen to get to pick their brain a bit on a forum we frequent. I've learned a lot from "dataSlave" and a few others. There are others, but I don't quite recall them all. I'll post them as I get around to'em again.
Nothing to see here, but I said I'd tell you what I did, so....
Money Cometh
Flip This Money - Beginnings (Pilot)
I wonder if this has been done before. Probably, but whatever.
So, a while back, I was running my mouth (actually, my online mouth) about wanting to make money in the stock market. I sat down with a trusty excel spreadsheet and figured out that I could make $2,000 into $250,000 if I could "Flip This Money" - you know, like the stupid TV shows, but I'll actually explain what I do... or like the "underworld" where they don't tell you what they did, you just get the money after it's flipped.
Yes, read that again, I'm going to make $250,000 out of $2,000.
"But, hoosier, that's 12,424%!!! If it were that easy, everybody would do it."
You're probably right. But even if I can only be half right, I'll turn $2,000 into $20,000 - a pretty nice 1,000%. All your stock market are belong to me.
Okay, so what's the plan?
The real object is to do something to teach myself how to do some trading - technical trading - in the stock market. My 401k got gashed this year, and if I had known 9 months ago what I know today, I wouldn't care, because I would have made about 10x what was in my 401k. Instead, I let some rich Wall Street expert blow it for me. Not to say don't put money in a 401k or other retirement vehicle, but don't think that's the only way to make money. I figure, start during a recession, and by the next "bubble" I should know enough to retire (whether I MAKE enough to retire is a different story altogether) and teach my two boys so they don't have to get jobs.
Okay, you still didn't tell us the plan.
Oh, right. I ramble. Don't worry. I'll get to it. So, the plan is to LEARN technical analysis and trade in and out - and not necessarily "day trade" to the tune of 5% per trade (after fees and whatnot.) It's not as hard as it sounds - but probably not as easy as I think it is, but whatever. Of course, I have to do quite a bit of reading on the innertubes, which is a good thing. Financial news is interesting stuff. Technical trading isn't too bad to learn. The perspective of other 'experts' (real and imagined) has never been so easy to gather. Goodbye, television. Your days are numbered.
What's the o/u on the number of readers of this blog? Opening at 3.5.
Oh, and ou still sucks.
Let's begin.
So, a while back, I was running my mouth (actually, my online mouth) about wanting to make money in the stock market. I sat down with a trusty excel spreadsheet and figured out that I could make $2,000 into $250,000 if I could "Flip This Money" - you know, like the stupid TV shows, but I'll actually explain what I do... or like the "underworld" where they don't tell you what they did, you just get the money after it's flipped.
Yes, read that again, I'm going to make $250,000 out of $2,000.
"But, hoosier, that's 12,424%!!! If it were that easy, everybody would do it."
You're probably right. But even if I can only be half right, I'll turn $2,000 into $20,000 - a pretty nice 1,000%. All your stock market are belong to me.
Okay, so what's the plan?
The real object is to do something to teach myself how to do some trading - technical trading - in the stock market. My 401k got gashed this year, and if I had known 9 months ago what I know today, I wouldn't care, because I would have made about 10x what was in my 401k. Instead, I let some rich Wall Street expert blow it for me. Not to say don't put money in a 401k or other retirement vehicle, but don't think that's the only way to make money. I figure, start during a recession, and by the next "bubble" I should know enough to retire (whether I MAKE enough to retire is a different story altogether) and teach my two boys so they don't have to get jobs.
Okay, you still didn't tell us the plan.
Oh, right. I ramble. Don't worry. I'll get to it. So, the plan is to LEARN technical analysis and trade in and out - and not necessarily "day trade" to the tune of 5% per trade (after fees and whatnot.) It's not as hard as it sounds - but probably not as easy as I think it is, but whatever. Of course, I have to do quite a bit of reading on the innertubes, which is a good thing. Financial news is interesting stuff. Technical trading isn't too bad to learn. The perspective of other 'experts' (real and imagined) has never been so easy to gather. Goodbye, television. Your days are numbered.
What's the o/u on the number of readers of this blog? Opening at 3.5.
Oh, and ou still sucks.
Let's begin.
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