Turning 5,000 dollars into 50,000 dollars

[professor_frink]

The way I see it is i'll do the opposite of what I did back then. lol

A job with the New York Yankees. This has been the dream of my life, ever since I was a child. And it's all happening because I'm completely ignoring every urge towards common sense and good judgment I ever had. This is no longer some crazy notion, Elaine, Jerry, this is my religion

From the episode "the opposite" where George does the complete opposite of what he usually does.

If it worked for him, it could work for you too

 

[Out Too Soon]

It's theoretically possible if your an experienced trader.
If you avg a profit of 22% per month that you reinvest then after 12 months you should have $54,361. Of cause you should make 44% some months to make up for the months you break even.
So ignore the knockers & keep us posted.

 

[arlee123]

So you pretty much just invest base on luck ?? what makes you feel so confident about MTN ??? i mean...what makes you pick DYL at first place?? pure luck right ??? I think it is possible for you to turn 5K to 50K but ....very unlikely....however, all the best...keep us informed on ur progress......

I think over the long term, diversify.......Brokerage fee only takes up a little of your investement...so yeah...cheers

 

[barney]

The buffer will increase as time goes on but the aim really is to use the same money over and over... I do feel confident that it can be achieved because since starting I had the opportunity to make much more then 50,000... I would pick winner stocks but the biggest problem with me back then was my lack of experience which resulted in hesitation and impatience, which turned into huge losses... I'm not saying that the opprtunities will be the same again because luck does play into it but it would be interesting to see at least how much can be made... The way I see it is i'll do the opposite of what I did back then. lol

By the way to keep it fair i'll use only share market money no outside cash with exception of margin lending...

Remember it's just for fun and it's also a good way to keep a log...

Hi Insider, I appreciate where you are coming from here, but can I put my slant on this scenario. I was a bit like you in a sense; I had done OK with my early selections........ I got a bit over confident and chased CDU at the height of the "easy money" .......... My advice ........ Watch out for the trading halt that delivers "BAD NEWS" ............. If you are going to play this game, you must have guaranteed stop losses in place, just in case the worst case scenario hits, and the SP dives like a lead balloon, and you lose nearly everything (like me!!) ................ I think your plan may work, but you must have a contingency plan which covers the possible worst case scenario, so you don't get "butchered". Hope that gives some food for thought. Cheers, Barney.

 

[constable]

dear insider best of luck with this,
personally i'd have no trouble backing if you said you could turn $50000 into $5000 over 12months but hey good to see your having go at something many people think is to "scary". Plus you 've opened your self to criticism takes a bit of courage to do that ,hope you can keep us all updated.
At the end of the 12 months at least you'll have experiance and if you go half alright another 10k in your pocket good luck

 

[nioka]

ADI may just be able to do what you are asking in less than 1 year. Check it out, it has the possibilities. There are a few who hope to become millionaires if it strikes the good oil ??????? It is one of the sites on this forum which is the most used at the moment and one which has some "true believers".

 

[insider]

Thanks alot for your support and criticism guys... It helps more than you all think... Yes I do open my self up to criticism because I think most of yous have some great advice and I do take it... I can tell you that I'm currently holding 9000 shares in MTN... I bought these at $1.005 dollars after selling 33,500 DYL shares at $0.275 that were bought at $0.15. My current holdings value is $11,800 and MTN is probably going to go up more... plus I have $200 dollars reserved for brokerage costs and leverage (Not much for leverage but I was 99% sure MTN will have paid off) bringing the current portfolio value to $12,000...

 

[insider]

I must agree with you barney... "the pain of losing is greater than the joy of winning". I have made huge losses when I started however being the positive person I naturally am I like to think I spent that money on learning; turning a loss into a gain.... One really cool thing about COMSEC is that you can have sms alerts when trigger prices are set off... this means you are always watching the market where ever you go... just don't forget to charge your phone

Thanks alot Nioka for the Suggestion (ADI) i'll look into them some time...
All my eggs are with MTN at the moment so it'll be interesting where they will go... They're defying the current Uranium sell off

 

[barney]

I must agree with you barney... "the pain of losing is greater than the joy of winning". I have made huge losses when I started however being the positive person I naturally am I like to think I spent that money on learning; turning a loss into a gain.... One really cool thing about COMSEC is that you can have sms alerts when trigger prices are set off... this means you are always watching the market where ever you go... just don't forget to charge your phone

Thanks alot Nioka for the Suggestion (ADI) i'll look into them some time...
All my eggs are with MTN at the moment so it'll be interesting where they will go... They're defying the current Uranium sell off

Good luck to you Insider, I hope you do it .......... Just out of curiousity, say for arguments sake that MTN retraced back to $1.06 (or whatever point it became "iffy" to your position), would you still hang on, or would you have bailed out prior? ie What is your stop loss exit point for the trade/how much are you prepared to lose on a losing trade? Cheers, Barney.

 

[MichaelD]

ie What is your stop loss exit point for the trade/how much are you prepared to lose on a losing trade? Cheers, Barney.

Aha! Barney's thinking like a trader.


A couple of points for Insider to ponder on;

1. Insider, you said "Remember it's just for fun"
I say: You only say that because you believe you can't lose. Yes, it's just for fun...so long as you're winning. When you're losing, you won't find it fun any more.

2. Don't confuse success in an irrationally exuberant Uranium bull market with trading skill. Irrational exuberance only comes along once in a while and doesn't last very long. Trading skill allows you to survive all the time.

 

[insider]

Good luck to you Insider, I hope you do it .......... Just out of curiousity, say for arguments sake that MTN retraced back to $1.06 (or whatever point it became "iffy" to your position), would you still hang on, or would you have bailed out prior? ie What is your stop loss exit point for the trade/how much are you prepared to lose on a losing trade? Cheers, Barney.

Personally I'd hold for a few reasons... I bought them at 1.005 and remember you only make or lose money when you sell... Another reason is that I'm expecting some drilling results to come out, infact I think they're almost over due... Might be a good follow up to their most recent announcement... fingers crossed. But essentially I trade stocks however I invest time in them and sell them at a price that I'm happy with and that I don't believe is greedy... I'd be more than happy to sell MTN right now but I'm confident in this one... There are just so many good reasons to hold a uranium stock and they're exactly the same as one year ago... One word potential... they have so much potential.

For me stop losses would only come in if the drops were quick and sudden... then I'd watch the buyers and sellers list closely and ask alot of questions like whose selling and why are they selling. etc. For example I bought DYL and sold at 27.5 cents on the open morning trade... I thought to myself there are going to be people that wanted the action from the day before so they will cause the price to fluctuate upwards at opening. I was right and then price closed at 26 cents... but all this after a 25% rise... I was expecting people to cash in and then they did the next day... Guess who the sellers usually are that drive the price to it's lowest before it goes back up a couple days later... The ones that either feel like they're losing their profits or the ones that bought high... I put an order for 23 cents but missed out by 1/2 a cent... then DYL hit 48 cents.... However the theory was all there and I could have made more cash cut the moral to the story is... " always ask questions" because you'll end like the guy who paid 27.5 cents and sold at 23.5 cents.

Not sure if that answered your question but I've been awake now for 41 hours straight... I need sleep

 

[insider]

Aha! Barney's thinking like a trader.


A couple of points for Insider to ponder on;

1. Insider, you said "Remember it's just for fun"
I say: You only say that because you believe you can't lose. Yes, it's just for fun...so long as you're winning. When you're losing, you won't find it fun any more.

2. Don't confuse success in an irrationally exuberant Uranium bull market with trading skill. Irrational exuberance only comes along once in a while and doesn't last very long. Trading skill allows you to survive all the time.

Miguel... You are absolutely right... However I also enjoy anchovies on my pizza while others don't... why because I appreciate the salty flavor that an anchovy has to offer... The chemical highs and the tug of war to control myself in high pressure situations is what makes it fun for me... I do voluntary work so money is hard to come by.... C'mon like you weren't played by a girl that didn't answer your calls only to make want her more... I think people aren't focusing on the synergy of advice that's happening in this thread

 

[MichaelD]

Insider,

You are making the following fatal trading errors;

1. Buying only one stock at a time.
2. Not using a stop loss.

Good luck with your gambling. I'll leave it at that.

 

[Kauri]

Was anyone here around during the dot.com boom times? Possibly remember the talk in the chat rooms/forums then?.... Deja vu.

 

[Out Too Soon]

Stop Losses, Yeah! I've just started using them & been stopped out of ZFX, KZL, CBH & JML in the last 2 days. Now there all on the rise & more expensive to get back into.
So what do I do now MichaelD?
I had intended holding until early next year.

 

[ice]

Was anyone here around during the dot.com boom times? Possibly remember the talk in the chat rooms/forums then?.... Deja vu.

Nothing like as extreme yet. Back then if you said one negative word about the boom every man and his dog jumped down your throat.

ice

 

[MichaelD]

Stop Losses, Yeah! I've just started using them & been stopped out of ZFX, KZL, CBH & JML in the last 2 days. Now there all on the rise & more expensive to get back into.
So what do I do now MichaelD?

You continue along with the masses, losing money because you don't have a backtested positive expectancy trading system which you consistently execute.

 

[It's Snake Pliskin]

Stop Losses, Yeah! I've just started using them & been stopped out of ZFX, KZL, CBH & JML in the last 2 days. Now there all on the rise & more expensive to get back into.
So what do I do now MichaelD?
I had intended holding until early next year.

This stinks of bullmarket hopeful, yet, blameful uncommitted gutter talk.

Michael D answered well.

And it is "they are"

 

[Kauri]

Stop Losses, Yeah! I've just started using them & been stopped out of ZFX, KZL, CBH & JML in the last 2 days. Now there all on the rise & more expensive to get back into.
So what do I do now MichaelD?
I had intended holding until early next year.

What's the problem, you placed your stops where you wanted them and they worked?

 

[Julia]

You continue along with the masses, losing money because you don't have a backtested positive expectancy trading system which you consistently execute.

Hi Michael

It might be helpful, not just for Kauri, but for others of us who have chosen to hold the stocks Kauri mentioned, if you could explain just what you think he/she should have done.

e.g. I hold ZFX and KZL and as long as the medium term outlook for zinc is positive, I'm not going to sell just because the SP drops for a few days.

With thanks

Julia