I want to make a lot of money fast

[LifeChoices]

Spot on KurwaJegoMac

I'm well aware of the risk. With the blue chips I've still got you just lose your money slower - OZL, WOW, RIO, IAG are depressing examples of that - it's a slow death.

Cause I've held them for so long, I'm a bit stuck with what to do with them now.

In the past I've held stocks like Centro and Babcock and Brown that went down in flames.

Luckilly, some of the others did come back from the dead - AGK, BHP and NCM

I'll always keep a diverse portfolio, but I'm now looking to use 10% to 20% of my portfolio on some of these spunky small cap miners

 

[moXJO]

Get rich quick huh. A bloke that went to my school got into High frequency trading with some partners. He was up about $26 million in either his 1st or 3rd year.

 

[mazzatelli]

Get rich quick huh. A bloke that went to my school got into High frequency trading with some partners. He was up about $26 million in either his 1st or 3rd year.

You talking about the firm or the individual? He'd be earning more than seasoned traders at banks and energy firms.

 

[moXJO]

You talking about the firm or the individual? He'd be earning more than seasoned traders at banks and energy firms.

seven of them have combined personal fortunes estimated at $230 million in less than five years.

 

[moXJO]

Get rich quick huh. A bloke that went to my school got into High frequency trading with some partners. He was up about $26 million in either his 1st or 3rd year.

Wasn't in his first year, was a bit sketchy on the details and had to check. Roughly $26mill in 4-5 years

 

[skc]

Silver doesn't work on vampires, only werewolves and shape shifters :

Right... silver bullets for werewolves, timber stake for vampires. Got my monsters mixed up.

What should I hold to use against heavily in-debt radioactive ex-investment bankers?

Wasn't in his first year, was a bit sketchy on the details and had to check. Roughly $26mill in 4-5 years

Funny I heard the same story at a party a few weeks back. Someone in that group from QLD?

 

[ChaoSI]

i hear gold's the way to go....
anybody know a back door into the RBA ?
figure we could carry a coulpe of blocks outta there....

 

[burglar]

i hear gold's the way to go....
anybody know a back door into the RBA ?
figure we could carry a coulpe of blocks outta there....

Did you hear about Silver brand condoms for the woman who wants her man to come second?

 

[inq]

I'm sure I could find a way to lose a lot of money fast, if thats any help.

 

[KurwaJegoMac]

Spot on KurwaJegoMac

I'm well aware of the risk. With the blue chips I've still got you just lose your money slower - OZL, WOW, RIO, IAG are depressing examples of that - it's a slow death.

Cause I've held them for so long, I'm a bit stuck with what to do with them now.

In the past I've held stocks like Centro and Babcock and Brown that went down in flames.

Luckilly, some of the others did come back from the dead - AGK, BHP and NCM

I'll always keep a diverse portfolio, but I'm now looking to use 10% to 20% of my portfolio on some of these spunky small cap miners

You need to look at defining a clear entry and exit plan. You should know the reasons/prices/levels/whatever as to why you would exit a given position - otherwise you'll always be stuck in the position you're in (re. the blue chips that you don't know what to do with). Who's to say they won't languish for years or continue to fall? You need to watch your capital and protect it appropriately - especially when looking at 'spunky small cap miners'.

Cut your losses short and let your profits run - it's a tired old cliche but it's still around for a reason. Better to put that money towards positive prospects.

 

[Tyler Durden]

I'm sure I could find a way to lose a lot of money fast, if thats any help.

If you know a SP will be going down, short it

 

[Dowdy]

i hear gold's the way to go....
anybody know a back door into the RBA ?
figure we could carry a coulpe of blocks outta there....

Hate to tell you, but the only thing they have in reserves (and backing our currency) is more currency.

You want gold, rob the Perth mint

 

[burglar]

A piece of advice from Phil Carret’s The Art of Speculation:
If you have 1000 shares of a stock worth currently, say, $9, disregard entirely the price you paid for it. Rather ask yourself this question: “If I had $9,000 cash today and wished to buy some security, would I choose this stock in preference to every one of the thousands of other securities available to me?”
If the answer is strongly negative, sell the stock! It should not make the slightest difference whether the stock cost you $5 or $13.
Your entry price is totally irrelevant, but the average punter gives it considerable weight.

LifeChoices,

Use this criteria on the Blue Chips in question and see how you go!

 

[ENP]

"We're more comfortable in that kind of business. It means we miss a lot of very big winners. But we wouldn't know how to pick them out anyway. It also means we have very few big losers - and that's quite helpful over time. We're perfectly willing to trade away a big payoff for a certain payoff."

 

[LifeChoices]

High Frequency Trading - now that sounds most interesting. Seems to be the exact opposite of what traditionalist will tell you - ie research and invest over the long haul, grow old, get bald and fat and then die some slow death by cancer.

I'm with comsec now. Is it inappropriate/too political to ask on this forum if there is a better/cheaper realtime online share trading option out there?

I'm a computer programmer and could put my skills to high frequency trading . I'm already scraping live data from the comsec site to update me on my own shares on my iphone. If I was to data scrape a whole bunch of shares every 10 minutes or so - well who knows what I could find out.

 

[cutz]

I'm a computer programmer and could put my skills to high frequency trading . I'm already scraping live data from the comsec site to update me on my own shares on my iphone. If I was to data scrape a whole bunch of shares every 10 minutes or so - well who knows what I could find out.

What sort of data are you scraping ?

 

[LifeChoices]

What sort of data are you scraping ?

At the moment just my portfolio - last price, yearly graphs, profit - or should I say loss. It was just something I did when I was bored at work - but it's realtime.

Not much of a step for me to get a whole bunch of statistics on a whole bunch of shares, set up my own email alerts etc. Don't know what it says in comsec's terms and conditions about doing stuff like this.

My research into stocks is pretty hopeless. For example - a conspiracy theorist sends me a link - I listen to it - it tells me the American dollar is about to collapse so buy silver - I buy silver and make lots and lots of money - but for how long. Research is crap, IMO. I think these High Frequency Traders are on the money - if you are first to see a trend then you are more likely to profit from it. The early bird gets the worm - is another well known theory.

Personally, I want to give this high frequency thing a shot. If I put my mind to it I think I could turn a profit looking at the little shifts that go on with some of the more volitile and high volume shares.

The only thing that concerns me is the high price of a trade - who does the cheapest online realtime trades?

 

[Tyler Durden]

Any place where money can be made fast, can also be lost fast.

 

[skyQuake]

At the moment just my portfolio - last price, yearly graphs, profit - or should I say loss. It was just something I did when I was bored at work - but it's realtime.

Not much of a step for me to get a whole bunch of statistics on a whole bunch of shares, set up my own email alerts etc. Don't know what it says in comsec's terms and conditions about doing stuff like this.

My research into stocks is pretty hopeless. For example - a conspiracy theorist sends me a link - I listen to it - it tells me the American dollar is about to collapse so buy silver - I buy silver and make lots and lots of money - but for how long. Research is crap, IMO. I think these High Frequency Traders are on the money - if you are first to see a trend then you are more likely to profit from it. The early bird gets the worm - is another well known theory.

Personally, I want to give this high frequency thing a shot. If I put my mind to it I think I could turn a profit looking at the little shifts that go on with some of the more volitile and high volume shares.

The only thing that concerns me is the high price of a trade - who does the cheapest online realtime trades?

commsec is far too slow and expensive for HFT. Insto brokers maybe.

see: http://quantivity.wordpress.com/2010/01/10/how-to-learn-algorithmic-trading/

 

[LifeChoices]

Any place where money can be made fast, can also be lost fast.

I think you are right, however, if you are privy or can process information faster than the average joe - as these high frequency traders may be able to do, it gives them an edge.

Thanks for the link skyQuake. I've started asking myself the same types of questions. As I'm am able to scrape mass data, exactly what data is is going to be of interest and will need further drilling down.