My plan

[Niketennis1]

I've got a watch list with a few penny stocks that are near there 52-week lows (extremely cheap- most under a penny). Do you think that buying one of these penny stocks with an indicator of momentun is a good idea? I'd only buy a stock that was up 5-30% on the day and would hope for it to run higher in the next few days and then sell it. How liquid are penny stocks that are under .01 because i've never traded them? I'm not planning on risking a huge % of my account value because I know that I could lose all the money I put into a cheap penny stock. What kind of charts and technical analysis should I look at to determine if a stock is a buy or no-buy. I have lots of charts to look at online but I'm not sure what many of them mean.

[netwrangler]

I've got a watch list with a few penny stocks that are near there 52-week lows (extremely cheap- most under a penny). Do you think that buying one of these penny stocks with an indicator of momentun is a good idea? I'd only buy a stock that was up 5-30% on the day and would hope for it to run higher in the next few days and then sell it. How liquid are penny stocks that are under .01 because i've never traded them? I'm not planning on risking a huge % of my account value because I know that I could lose all the money I put into a cheap penny stock. What kind of charts and technical analysis should I look at to determine if a stock is a buy or no-buy. I have lots of charts to look at online but I'm not sure what many of them mean.As a tennis player for 50+ years, let me try a tennis analogy:
Hoping to make your fortune by putting money in penny stocks is like hoping to win a tournament by trying to paint the lines with your shots. You might get some spectacular wins, but your chances of winning consistently are virtually nil.
Reminds me of the guy who played in a weekly poker game and lost money every week. Finally a friend talked to him. "Don't you know the guys you are playing with are crooks? Why do you play there?"

The poker player answered, "I know the game is crooked, but it's the only game in town."

Penny stocks are not the only game in town.

[TonyM]

Just go to Vegas and blow it all, at least you'll have fun doing it.

[freakscene]

Why not test your plan virtually before testing it in real life?

Use a virtual system and see if it works for you.

Good luck.

[netwrangler]

Why not test your plan virtually before testing it in real life?

Use a virtual system and see if it works for you.

Good luck.Excellent suggestion!

[Niketennis1]

all good advice. I know its risky but look at stocks like DLAV and other pennys that increase rapidly with momentum. With DLAV you could have turned $500 into $4000. I know this DLAV momentum is not normal but if you get lucky, you can earn a lot of money quickly even though you are risking your initial investment.

[Niketennis1]

I may use a virtual system though to see how i do before testing it in real life. its a great idea

[freakscene]

http://vse.marketwatch.com/Game/Homepage.aspx

there is a 20 minute delay

[TonyM]

all good advice. I know its risky but look at stocks like DLAV and other pennys that increase rapidly with momentum. With DLAV you could have turned $500 into $4000. I know this DLAV momentum is not normal but if you get lucky, you can earn a lot of money quickly even though you are risking your initial investment.

You are only looking at supporting arguments and the whole "could have turned $500 into $4000" is a prime example of how $500 gets turned into $0.01

The field of broken dreams is strewn with flawed thinking just like that which you are exhibiting. You've been on this forum for a while now and it is disappointing to see that you have not yet learned that there is no get rich quick scheme to be had.

Think of the millions of traders before you, do you really think that you have suddenly come up with a foolproof way to turn your $1k into a 4 year college payment? Playing micro's at that? You are being naive at best and insulting at worst.

I probably seem harsh and overbearing and that's fine, I'm not in it for popularity. However, blowing smoke up your ass won't help you protect your capital.

[netwrangler]

I may use a virtual system though to see how i do before testing it in real life. its a great ideaUsing a virtual system is a good idea for all of us when getting into a new investment area.

One caution about virtual systems and Penny Stocks: As Microhedge and other point out, the problem with Pennies in not buying in, but selling out. If the volume is thin, the bid-ask spread may be humongous. Not sure how a virtual system simulates that problem.

My guess is that most systems just ignore it and assume if you can sell 100 shares at a price, you can sell 100,000 shares at the same price. As Sportin' Life sings in Gerswin's Porgy & Bess, "It Ain't Necessarily So."

[Niketennis1]

TonyM I see your point but I'm 18 years old and losing $500 isn't going to kill me. I'm a speculator and I know I'm good enough to pick normal stocks and get a 40% with a diversified portfolio. Only thing is that I want to get rich quick (not necessarily rich but make a decent amount of money). Good advice though. I'm definatly going to test my system before trying it out.

[TonyM]

. I'm a speculator and I know I'm good enough to pick normal stocks and get a 40% with a diversified portfolio.

Prove it and you'll have your own office at GS and won't even need to bother with college.

Your belief that you can get a 40% return in 'normal' stocks is the exact reason I know you will blow out your account.

Happy trading, I tried.

[yupyup]

Don't know how you would get a 40% return on "normal" stocks, but if you could I would go with that, screw the penny's.

[Albert0373]

Sims are worthless for pennies, won't mimic the float/daily volume/ease of entries and exits.


But wait, wait, wait...you just contradicted yourself. I've once heard you said you were going to put all your funds into one and hope its a big winner, now you're talking about diversifying. Diversifying pennies is going to get you nowhere, maybe you'll have a big winner one or there but looking at it broadly, you'll still be down. My first three penny trades lost all the money I put in them even though I thought I was "good", myself being naive at the time.

Get rich schemes.....those are hard to come by. Pennies are not one of them, I just want to warn you that...nothing you can count on to provide tuition payments. You probably would just waste money that could have bought you all your books and more food. Starting something new and being ambitious is a more probable way of "getting rich fast", i.e. that one high school girl who started up a website for Myspace HTML layouts is now raking in $20K+ a month, those college boys who started up a bittorenting site are now raking in $45k a month, etc.

[Niketennis1]

I'm talking about 40% within 1 year. I think 40% within one year is average. My investopedia account, (which i diversified last year without any prior experience) I listened to most of cramers picks and some of my own and ended up about 45% in 1 year. I can give you a portfolio that would be up 40% in 1 year right now. AAPL, SIRI, RIO, a gas stock (such as XOM), and GS.

[TonyM]

I'm talking about 40% within 1 year. I think 40% within one year is average. My investopedia account, (which i diversified last year without any prior experience) I listened to most of cramers picks and some of my own and ended up about 45% in 1 year. I can give you a portfolio that would be up 40% in 1 year right now. AAPL, SIRI, RIO, a gas stock (such as XOM), and GS.

Again...prove 40% a year in real money and college can be skipped. 40% on paper in a bull market is easy, try leaving $100k of your own real money on the line when the market drops 10%

[yupyup]

I think average return is around 8%. 40% is an extremely high return for 1 yr and like previously stated from some other posters can college if you are pulling out 40% returns annually.

Maybe just open up a low cost mutual fund and set up a monthly auto investment plan. In 4 years you'll have a nice chunk of change waiting for you.

[Niketennis1]

I think it would be crazy to skip college. I really do think 40% is easy to make though if you diversify in good growth stocks. If the market becomes bearish, you start shorting crappy stocks such as SBUX(cramer recommended it as a no buy last night). I saw in another post that to even get an interview from GS, you need a degree from an ivy league school.

[Luc1Grunt]

make live calls on here or the chat for the next couple of weeks with # of shares and price per share. I'm sure we'll critique your results....:lol:

[yupyup]

If it was really that easy, don't you think people would have done it before you? I know this much, everyone is certainly not making 40% annually.

[primer]

I'm talking about 40% within 1 year. I think 40% within one year is average. My investopedia account, (which i diversified last year without any prior experience) I listened to most of cramers picks and some of my own and ended up about 45% in 1 year. I can give you a portfolio that would be up 40% in 1 year right now. AAPL, SIRI, RIO, a gas stock (such as XOM), and GS.

Alright, I'm gonna test you on that. :wink:

I created a new paper fund (http://www.marketocracy.com/cgi-bin/WebObjects/Portfolio.woa/ps/FundPublicPage/source=BkNeEdPiEhEnOdAoMaKiAbDe) with exactly $200,000 equally allocated to each position. I'll post the results one year from tomorrow.

[MyRightEye]

Wow, maybe I've been lucky. I have had to cut my losses on a few stocks, but I have made a lot of money in the last few months. Not sure why the pessimism in here. Just because you couldn't do it, doesn't mean someone else can't! I have mostly sat back and learned and only played recently. I just put $1000 into a penny stock, but a long term play, and I am quite ecstatic that most of the $1000 was "free" money I had made on other stocks. If I lose it all, I won't be loosing any sleep. Though mostly I am in AAPL.

[TonyM]

Wow, maybe I've been lucky. I have had to cut my losses on a few stocks, but I have made a lot of money in the last few months. Not sure why the pessimism in here. Just because you couldn't do it, doesn't mean someone else can't! I have mostly sat back and learned and only played recently. I just put $1000 into a penny stock, but a long term play, and I am quite ecstatic that most of the $1000 was "free" money I had made on other stocks. If I lose it all, I won't be loosing any sleep. Though mostly I am in AAPL.


Ok, you're right, I just suck at this and everyone else is making 40% per year on their money. Carry on as you were, I'm sure you'll be millionaires in a year or two, I'll just go back to my job at McDonalds.

[Luc1Grunt]

is this the twilight zone thread?

Nike, post your picks and we'll track you for a while....too easy. I'll show you how to make 40% a year in my next post

[Albert0373]

Yep, this sounds like something interesting. I'd sure would like to keep track for fun.

[TonyM]

Warren Buffet probably sucks too, he's only averaged a compounded annual return of 22% for Berkshire. I hear he is looking for a replacement though, I'm sure he'd be interested in someone that can easily hit 40%

[Luc1Grunt]

I made a post about using 50k to day trade and earning an overall percentage on the year of around 1%. Net income was about 50 k with about 6 million in trades. Can't find it as I've searched the last 15 minutes (damn I post a lot). I'm not going to use my results either.

I don't think Nike has the cash or experience to do that, so he might as well swing for a home run. If he strikes out, he says he can afford it.

Why not options or forex? I've traded pennies and will again, but no way in hell do I think I could do it consistently for profit or even for the "big one". Zero sum comes to mind. Too many have control of the price.

Better set some stops brother, or write a letter to mommy and daddy for more trojans!

[freakscene]

I'm looking forward to grunts next post !!! ;)

but then again I'm happy with no frills 8-10 % when i can get it :)

[Luc1Grunt]

Nike, commit to posting your calls in real time. Start the thread and we can follow.

I'm not being a smartass, but the pressure will keep you HONEST TO YOURSELF.

If your system works, trade it and make money. That's why we all are here. If you blow out, you'll get slapped around a bit, but you're young and resilient enough to move on.

Right?

[MyRightEye]

Ok, you're right, I just suck at this and everyone else is making 40% per year on their money. Carry on as you were, I'm sure you'll be millionaires in a year or two, I'll just go back to my job at McDonalds.

Well, I was not referring to you or anyone in particular, but as they say, if the shoe fits...!!

[MyRightEye]

Anyway, if Ron Paul does not win the primaries, I'm moving to Gold or Euro's.

[Luc1Grunt]

to each his own on earnings. The only contest is how much you profit from...not compared to someone else.

Sorry dude, Ron does not have a chance. As much as I hate to say that.

I liked Alan Keyes and Lamar Alexander's message as well, but we are a fickle, funny bunch. Hillary leads the polls on the donkey side. Figure that one out. I can't wait to hear her "nails on a chalkboard" voice on every sound bite during the day. That, and hopefully a shot of those cankles are going to get my rocks off for 4 years (minimum).

Jeeez, I just entered depression.:?

[MyRightEye]

Sorry dude, Ron does not have a chance. As much as I hate to say that.

Save your apologies for Election day :)

He IS going to win.

[Albert0373]

Save your apologies for Election day :)

He IS going to win.

As much as I support him, I can't help but realize that it's not plausible.

[TonyM]

Save your apologies for Election day :)

He IS going to win.

Hmm, how about a friendly wager...say $1k, since you won't lose any sleep if you lose that?

[Luc1Grunt]

Save your apologies for Election day :)

He IS going to win.

I hope he does as well. And I'll support in the future as I already have.

But I think this is a case of realism vs. pessimism.

I am kinda stoked that some colleges I have ties to have a solid student base pushing Paul. :D

[Luc1Grunt]

I'm looking forward to grunts next post !!! ;)

but then again I'm happy with no frills 8-10 % when i can get it :)


OK, found it.

Luc1Grunt (http://www.onlinetradersforum.com/member.php?u=897)
forum leader
http://www.onlinetradersforum.com/images/ranks/rank11.gif

Join Date: Sep 2005
Posts: 1,750


http://www.onlinetradersforum.com/images/icons/icon3.gif Re: Systems: How good is good enough?
Base capital of $50,000 (2:1 leverage = 100,000 buying power) opened and closed each day. Money market interest is 3.9% APR because no trades are held overnight.

$10,000 to $15,000 per trade, at 8-10 trades a day (margin / not always simultaneous positions / not including averaging in) = $150,000 per day in trades / all positions closed by EOD.

220 trading days per year.

33 million a year in total day trades at 1/2% overall gain = $165,000 yearly income. Better file mark to market and trader status!

165,000 profit from base capital of 50,000 = 330%.

This is a "working" account and not a passive / semi-passive trading approach.

From the income, deduct taxes, living expenses, and INVESTMENTS. Comparatively the same as working a high stress professional job for "the man". And you trade in your underwear, LOL!

It's a model. It is achievable.

OP Quote:

"I mean, how much better than the S&P does a system have to be to make it 'worth while'. I have heard a few different ideas, some figure in the difference between short term and long term tax rates, some folks look at it compared to the returns of managed funds."

I would pose the question....time = money? How much of YOUR time you "invest" in trading should be in proportion to the return? Among other factors of course...but if you daytrade as a business and spend 9-10 hours of your life "working", you should see profits well-above the S&P or you will find you work for peanuts. Better moonlight at Burger King for rent money.

$50,000 a year is the interest on a million dollar base from a common money market account or treasuries (roughly). Totally passive income. No time or effort required (relatively speaking).

That same 5% a year return for working your ass off behind the screen everyday? How about 10%? That amounts to peanuts on a monthly basis. Would you consider this a good wage if you were spending the time working in a "job"?

How about 20% APR (beating the S&P) on a 50k account. = $10,000/year. Great return, but relative to how much time spent from your "life"? If this is from passive acounts-------> fantastic return!

What is the time spent worth?

I pose these for thought, not for argument. Each trader / investor has to answer these questions on their own. :?


This is an income generating trading business. This is not investing. This is a business. Scalability is the issue. Income is generated so profits are pulled from the gains over the base. That is where you pay taxes, buy midget porn, and "invest". Oh yeah, and take the dog to the vet, pay bills.

I don't believe Nike has the capital or skills to trade.....

His eagerly anticipated "Live call" thread may prove me wrong.

[Albert0373]

Save your apologies for Election day :)

He IS going to win.

Just wondering, have you donated your pledge?

http://teaparty07.com/

[netwrangler]

Anyway, if Ron Paul does not win the primaries, I'm moving to Gold or Euro's.Not Euros!

Check the Barron's article this week about the dollar.

The headline for the article is that the dollar will be stronger.
The "deep inner meaning" of the article is that the Euro will be weeker.

My guess is that the Yen is a better bet.

[netwrangler]

Save your apologies for Election day :)

He IS going to win.I think I have some stock trades I would like to make with you on the other side.

Sorry to bring up reality, but Ron Paul will not win in 2008.

Happy to cover all bets on that subject - even money, of course, giving you a break since you are so sure. :wink:

[MyRightEye]

You all seems to taking your queues from the Mainstream media and not from the facts.

He wins near every straw poll. He has raised more money in this quarter than all the other GOP runners. He EASILY get 5 TIMES the number of supporters along to his rallies than ANY other GOP runner. How many Ron Paul signs have you seen compared to any other candidate? His polling is DOUBLING every 8 weeks. He is the ONLY GOP candidate who is RISING in the polls. Every other GOP candidate is going DOWN in the polls.

So exactly WHERE do you get the impression he has no chance, when he's CLEARLY doing better than ANY other GOP candidate?

Take a look at these 2 vids:
http://www.youtube.com/watch?v=XaxdUPNYj2s

http://www.youtube.com/watch?v=DKZmIzEMUN8

Stop taking your queues from the mainstream media. I am involved in a meetup group and nearly every person we talk to during our Friday night pub crawl tell us they know exactly who he is and are voting for him, and this is in very liberal Boulder, CO.

Unless he screws up real bad, it seems very realistic to believe that he will win.

[MyRightEye]

And the guy that made this site has heard it all and put together what he calls The Case For Ron Paul.

http://thecaseforronpaul.com

[TonyM]

And the guy that made this site has heard it all and put together what he calls The Case For Ron Paul.

http://thecaseforronpaul.com

So will you take my wager?

[MyRightEye]

So will you take my wager?

I can't. My mom taught me not to steal from the unsuspecting. :mrgreen:

[freakscene]

You all seems to taking your queues from the Mainstream media and not from the facts.

He wins near every straw poll. He has raised more money in this quarter than all the other GOP runners. He EASILY get 5 TIMES the number of supporters along to his rallies than ANY other GOP runner. How many Ron Paul signs have you seen compared to any other candidate? His polling is DOUBLING every 8 weeks. He is the ONLY GOP candidate who is RISING in the polls. Every other GOP candidate is going DOWN in the polls.

So exactly WHERE do you get the impression he has no chance, when he's CLEARLY doing better than ANY other GOP candidate?

Take a look at these 2 vids:
http://www.youtube.com/watch?v=XaxdUPNYj2s

http://www.youtube.com/watch?v=DKZmIzEMUN8

Stop taking your queues from the mainstream media. I am involved in a meetup group and nearly every person we talk to during our Friday night pub crawl tell us they know exactly who he is and are voting for him, and this is in very liberal Boulder, CO.

Unless he screws up real bad, it seems very realistic to believe that he will win.

I am actively campaigning for him.

I've been sending him money.

But even I will concede that his chances are probably the smallest of any of the GOP candidates. Not because his platform is the worse. Its just too drastic. Too radical from the status quo.

[freakscene]

OK, found it.

Luc1Grunt (http://www.onlinetradersforum.com/member.php?u=897)
forum leader
http://www.onlinetradersforum.com/images/ranks/rank11.gif

Join Date: Sep 2005
Posts: 1,750


http://www.onlinetradersforum.com/images/icons/icon3.gif Re: Systems: How good is good enough?
Base capital of $50,000 (2:1 leverage = 100,000 buying power) opened and closed each day. Money market interest is 3.9% APR because no trades are held overnight.

$10,000 to $15,000 per trade, at 8-10 trades a day (margin / not always simultaneous positions / not including averaging in) = $150,000 per day in trades / all positions closed by EOD.

220 trading days per year.

33 million a year in total day trades at 1/2% overall gain = $165,000 yearly income. Better file mark to market and trader status!

165,000 profit from base capital of 50,000 = 330%.

This is a "working" account and not a passive / semi-passive trading approach.

From the income, deduct taxes, living expenses, and INVESTMENTS. Comparatively the same as working a high stress professional job for "the man". And you trade in your underwear, LOL!

It's a model. It is achievable.

OP Quote:

"I mean, how much better than the S&P does a system have to be to make it 'worth while'. I have heard a few different ideas, some figure in the difference between short term and long term tax rates, some folks look at it compared to the returns of managed funds."

I would pose the question....time = money? How much of YOUR time you "invest" in trading should be in proportion to the return? Among other factors of course...but if you daytrade as a business and spend 9-10 hours of your life "working", you should see profits well-above the S&P or you will find you work for peanuts. Better moonlight at Burger King for rent money.

$50,000 a year is the interest on a million dollar base from a common money market account or treasuries (roughly). Totally passive income. No time or effort required (relatively speaking).

That same 5% a year return for working your ass off behind the screen everyday? How about 10%? That amounts to peanuts on a monthly basis. Would you consider this a good wage if you were spending the time working in a "job"?

How about 20% APR (beating the S&P) on a 50k account. = $10,000/year. Great return, but relative to how much time spent from your "life"? If this is from passive acounts-------> fantastic return!

What is the time spent worth?

I pose these for thought, not for argument. Each trader / investor has to answer these questions on their own. :?


This is an income generating trading business. This is not investing. This is a business. Scalability is the issue. Income is generated so profits are pulled from the gains over the base. That is where you pay taxes, buy midget porn, and "invest". Oh yeah, and take the dog to the vet, pay bills.

I don't believe Nike has the capital or skills to trade.....

His eagerly anticipated "Live call" thread may prove me wrong.


Thanks ! I plan on digesting this tomorrow. :)

[Luc1Grunt]

I can't. My mom taught me not to steal from the unsuspecting. :mrgreen:

Listen up Chief....I will support him as I already have. I don't do "drive by media", but they run the damn show. He does not make it in any Iowa Straw polls and that is critical come January. Do some reserach.

Many, many dollars in the fundraising were revised because of stolen credit cards. I was disheartened by that news.

I hope you are right and I will increase my backing by several maginitude as steam is gained. Quite frankly, elephants don't have **** in the race and it is all a little sad. Hell, I'm a libertarian at heart, but I would at least like to see a conservative with some energy.

Clinton mafia will keep her on the good side of the media... and the sheep love sound bites.

I see Osama's signs in yards that say "hope".

I don't know about you, but I don't need a fuckin' politician to give me "hope". But mainstream America seems to like that bull ****.

Gotta love an 18 year old Scotch.

Keep fighting the fight for Ron. I'm with ya. 8)


Besides....this thread has been officially HI-JACKED!!!!!!

[TonyM]

I can't. My mom taught me not to steal from the unsuspecting. :mrgreen:


Your conviction takes a bit of a hit when you choose not to back it up.

[MyRightEye]

I am actively campaigning for him.

I've been sending him money.

But even I will concede that his chances are probably the smallest of any of the GOP candidates. Not because his platform is the worse. Its just too drastic. Too radical from the status quo.

Then you don't understand that he has said over and over that all these "drastic" ideas must be passed by Congress. And I hope you're informing others about that as well. He can't be a loose Canon, he is restrained by the Congress.

[MyRightEye]

Many, many dollars in the fundraising were revised because of stolen credit cards. I was disheartened by that news.

OK, let' stop disinformation. The figures range from just $60 That's SIXTY, up to a maximum of $3000. That's THREE THOUSAND.

Out of 9 MILLION DOLLARS, that's 9,000,000.00 $3,000 is NOT many many dollars.

[MyRightEye]

Your conviction takes a bit of a hit when you choose not to back it up.

Really, if I had a spare $1000, I'd be spending it make sure Ron Paul gets the Presidency, not using it to inflate my ego.

[TonyM]

Really, if I had a spare $1000, I'd be spending it make sure Ron Paul gets the Presidency, not using it to inflate my ego.

Since you are so sure that you are correct you might as well go ahead and give that $1k to RP since you know you will be getting it back from me.

Tell you what, why don't you put it on a credit card and if you win the wager I will pay all of your interest charges in addition to the $1k. This gives you a chance to further support RP while simultaneously backing up your claim that he will win the Presidency, no ego inflation going on here.

[netwrangler]

Then you don't understand that he has said over and over that all these "drastic" ideas must be passed by Congress. And I hope you're informing others about that as well. He can't be a loose Canon, he is restrained by the Congress.Well, let's see...

A "loose Canon" is one where the cat on clavichord is improvising?

No, he can't be that.

[Albert0373]

My, this has turned out to be quite an interesting thread. It's grown quickly too in just a span of few hours.

[netwrangler]

My, this has turned out to be quite an interesting thread. It's grown quickly too in just a span of few hours.Yes, well, I could have said:
A loose "Canon" is one where Pacabel improvises on harpsichord.
I think more people might have found that interesting.
The other line was strictly for "broke" musicians.

[primer]

Since you are so sure that you are correct you might as well go ahead and give that $1k to RP since you know you will be getting it back from me.

Tell you what, why don't you put it on a credit card and if you win the wager I will pay all of your interest charges in addition to the $1k. This gives you a chance to further support RP while simultaneously backing up your claim that he will win the Presidency, no ego inflation going on here.

How can you say no to that wager MyRightEye? Unless, of course, there is a doubt in your mind.

[aiki14]

Yes, well, I could have said:
A loose "Canon" is one where Pacabel improvises on harpsichord.
I think more people might have found that interesting.
The other line was strictly for "broke" musicians.

Maybe he was referring to the sugared sonnets or the Passionate Pilgrim.
Good luck on this reference a loose Canon indeed :D

Good friend, for Jesus' sake forbeare
To dig the dust enclosed here.
Blessed be the man that spares these stones.
And cursed be he that moves my bones.

[netwrangler]

I think

This might be the loose Canon (http://www.videosift.com/video/Japanese-playing-Canon-on-guitar) 8)

[Niketennis1]

Well today is my best day in the market due to SIRI. up 8% and I have all of my money in it. I recommend it to everyone here for a long-term of short-term trade because the merger is going to happen. Yesterday I saw PFNO (on my penny stock list) up 50% and was like, I would possibly buy that due to momentum. Well it turns out that the stock finished the day up 100%

[Luc1Grunt]

TonyM I see your point but I'm 18 years old and losing $500 isn't going to kill me. I'm a speculator and I know I'm good enough to pick normal stocks and get a 40% with a diversified portfolio. Only thing is that I want to get rich quick (not necessarily rich but make a decent amount of money). Good advice though. I'm definatly going to test my system before trying it out.

I'm talking about 40% within 1 year. I think 40% within one year is average. My investopedia account, (which i diversified last year without any prior experience) I listened to most of cramers picks and some of my own and ended up about 45% in 1 year. I can give you a portfolio that would be up 40% in 1 year right now. AAPL, SIRI, RIO, a gas stock (such as XOM), and GS.

I think it would be crazy to skip college. I really do think 40% is easy to make though if you diversify in good growth stocks. If the market becomes bearish, you start shorting crappy stocks such as SBUX(cramer recommended it as a no buy last night). I saw in another post that to even get an interview from GS, you need a degree from an ivy league school.

Well today is my best day in the market due to SIRI. up 8% and I have all of my money in it. I recommend it to everyone here for a long-term of short-term trade because the merger is going to happen. Yesterday I saw PFNO (on my penny stock list) up 50% and was like, I would possibly buy that due to momentum. Well it turns out that the stock finished the day up 100%


Kind of lost track of this while I was TRADING.

So what's the ltest there Nike? You've gotta be getting close to that "easy 40%".