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Turning 5,000 dollars into 50,000 dollars

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Hey just revivng this thread... Yes I am still in the challenge... I've been really busy lately... I just graduated this year from Architecture Technology Volunteering, working 12 hour shifts and going out... Busy man I am...

There are really good points in the thread made by everyone and not one is discounted no matter how harsh some may sound...

I thought I'd update what's going on... I've still got all my eggs in one basket with MTN... I hold 9000 shares in them plus I have a spare 200 bucks for whatever... The portfolio worth, trading at 1.45 plus the 200, is $13250.

There are announcements to come out in January next year so I will look at selling then... My predicted value will be about $2+ a share...

Thinking about the challenge I have realised that the real secret to achieving a 1000 percent gain in one year is not so much how you spend the year trading but how you spend the start of it... The quicker I can make huge profits the easier it becomes it achieve 1000 percent... I hope I make sense...
It's the difference between one car that takes off normally and another that takes off racing... The one racing will get to the speed limit quicker...

If I can get to 25,000 soon which is a 500% gain of $5,000 all I need to do then is a 100% return on the 25,000 which makes it 50,000.... The value goes up exponentially...

I also tried borrowing money to help out but couldn't get the loan... It would've helped heaps

Yes Luck plays a part in it...
 
Insider,

It is possible, perhaps not in that time frame but maybe not too far beyond. The only reason I say that is because you are in the uranium sector. This will be huge, and hopefully soon. Picking a stock in U that is low priced with good fundamentals just may do it. And I just have to comment on this:

MichaelD said:
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.
Click to expand...

Michael d obviously forgot about your goal which is to have $50,000 in a year from $5,000. If you picked more than one stock that would decrease your chances more. Its obvious you wont reach your goal by diversifying 10 ways and end up with a 15% return....I am sure you are quite aware there may be better ways of planning your retirement but this sounds like more of a game, so I say good luck! Hopefully you wont think twice about the people who are telling you what you are doing wrong, maybe they are upset you have the means to put all your eggs into one basket.
 
Insider, I've always only invested money that I can afford to lose. Obviously the aim of the game is to make money and everyone has different opinions on how to do that.

You are a chance at making your goal and it will be more due to luck I imagine than anything else... I just hope it is money you can afford to lose...which I think it is!!

My pick for you has already been touched on..'ADI'...it is a gamble, but I think that is the type of stock you need to make the 50K. Its climbed quickly over the last few days but if the flow testing in late Jan/Feb goes well it will kick bigtime. If not it will dive fast so you may then need something that goes 100fold ...but hey what I think you are doing is a gamble anyway...good luck!!
 
This is just so wrong it's hard to work out how to respond.

I guess the best I can do is to give an example of why 1 position at a time and no stop loss sooner or later will be fatal.

Buy BCL (BetCorp) 16-Mar-2006 @ 5.42

12-Jul-2006 Share price 4.10. Favourable broker research report.
14/15-Aug-2006. Share price 2.35. Brokers report "great value" and "good results".

30-Oct-2006 Last traded price 0.335.


Starting capital $5,000.
Ending capital $309.

Game over.
 
Addendum (was able to find one more broker report on BCL):

8-Sep-2006 Share price 2.05 Broker report: Change from BUY recommendation to HOLD recommendation.
 
This may help your stock jump Insider, this is from trade tech and was published on fri:

The quest of buyers to
secure uranium at fixed
prices continues to fuel the
price rise, with any spot
material offered up by sellers
creating a “feeding frenzy.”
As a result, the spot price for
uranium jumped $7.00 this
week to $72.00 per pound
U3O8””the single largest
increase reported since
NUEXCO began publishing
prices in 1968 (see chart).
 


Howdy Lancer, Do you have a link to that page/info?? .... The latest spot price I have is $65 Cheers, Barney
 
Hi Barney, No, I dont have a link I mean I could make one but you are supposed to subscribe which is about $700 per year to know the price on fri instead of monday or tues.

This will be interesting!
 
BTW, $65 is last weeks price this one came out about 2 hours ago, and will be updated everywhere else on mon. or tues. It is from trade tech and is the original source..
 
lancer said:
Hi Barney, No, I dont have a link I mean I could make one but you are supposed to subscribe which is about $700 per year to know the price on fri instead of monday or tues.

This will be interesting!
Click to expand...

Hi Lancer, Thats fine ... I understand ..... I wish I could afford all the "good oil", but maybe next year (or maybe 2010 )

I'm sure everyone appreciates the early info, so keep it coming .... Cheers, Barney.
 

Wow I appreciate it Lancer... What's the name of the source I'd like to try it out even if I had to pay?
 
Google "trade tech uranium" its the first one to show up. Its kind of expensive, I am not sure its worth it for a few days earlier, but possibly in a case like this....


Lance
 




I think that you will be hard pressed to achieve these returns, But alas give it a go. If your serious about making the 50 grand then average out how much money you need to make each month to achieve your goal. If you find one month that you are not making enough capital growth you may think about moving your money into a different company. Anyways good luck on your quest.


P.S. leverage is always an option.
 
Hi Insider,

Your prediction for MTN to reach $2+ is close, nicely done, let us know when you decide to sell and what your next punt will be to reach your $50K goal.

Looks like you are around $17750 all up by my calcs if you still have your 9000 MTN shares? Keep us up to date with how you go.
 
I'm still holding and after todays results the 9000 shares are at $16650.00... plus $200 reserve... I'm waiting on some results but i'm missing the UXA (uranium exploration australia) boat which went up 33.33 percent today... That company is a bargain... What makes me hold MTN is that there still hasn't been a day with extremely high volumes which makes me believe that they are still very unknown and they'll be pumping out their results out soon... I'm holding until about the end of January to start of Februrary... Until then I'm still looking for bargain stocks to jump on immediately after sell
 
I should update how my progress is going... I'm still holding 9000 shares in MTN plus an extra $200... after todays close at $2.28 the shares are now worth $20,520.00 not including the spare $200...

Hopefully the recent uptrend is sustained until the next announcement...
I'm having second thoughts about buying UXA as their reputation is beginning to disapoint me... they are predicted to have an announcement due in about 1 to 2 weeks... MTN is proving to be a strong performer.
 
nice progress you made insider... if you're still planing on selling mtn by the end of january i would recommend to pick rms(o) and mxr(o)...
Rms been one of the best performers for me last year with lots of upside... will go to 1$ this year imho... they got awesome tenements, gettin lotsa cash in their kitty with their open pit gold production on wattle dam and they have a big nickel ressource at hilditch which will be a mayor sp driver in the close future...

mxr also supposed to see some decent results regarding their gold exploration and uranium exploration in the close future.... it's also trading under NTA so it's really cheap right now... i would get set in the oppies as they provide a pretty good leverage....

anyway, good luck on your further progression and let me know if you picked any of those...cheers
 

Thanks for the support... I'll have to reasearch those stocks on the weekend sometime... I'm quite covinced that holding mtn for at least another month will be rewarding.. I expect MTN to pump out more drilling results on top of that, it is rumoured that they will be holding a uranium conference in Adelaide in March. They will be getting some nice publicity which is something they don't spend their money on...

I always keep a watchful eye on MTN and others
 
If my calculation is correct then your up to $28800 (or $29000 if you include your $200).
Not bad!
and youve still got how many months to go? ..... 7 or 8 months?
keep going like this and it would seem you will far exceed $50000.

By the way people, this months Money magazine reminded me of this thread, Front page 'Turn $5000 into $50000'........ insider, are you the person writing this article? or are you just an insider

cheers
 



Going well Insider, I am both impressed and envious

Keep it going M8 .... PS What was the deciding factor on your two stock choices so far? Obviously uranium, but did ASF have any influence on your choices? If so, there could be an advertising "story" in the making here when you hit your target !! (Take note Joe ... this could be a valuable result all round)

My only suggestion would be when you get closer to your target you might consider "splitting" your stock choices in half or thirds just in case the worst case scenario happened and the company of your choice "fell over" ........... Diversification at some point may prove advantageous (even though it might slow the process down a little ...... just a thought ) All the best, Barney.
 
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