Stock Market

[REI_Chris]

http://www.hotstockmarket.com/forums/showthread.php?t=62777
I don't think I'm breaking any rules and it is a great hands-on example to read and learn from. Granted, he couldv'e lost a lot of money last Fri, but he held out and turned a 20+ thousand dollar profit when most people were jumping ship. Risky, but he's not a newbie when it comes to investing. It's interesting because he starts with a realistic amount of money and turns it into a fortune in only a few months.


FDJake,
Thanks! That means a lot coming from you. I've watched your posts, amongst many others here and have learned quite a bit and use the things I have learned from here all the time. Watching that option price move this morning was exciting. Every time the stock moved up or down, eventually I was calling the premium. I'm just learning, but I am absolutely hooked already and I haven't made my first buck yet (would have if I jumped in Fri!). I'm still learning a lot about chart reading and technical analysis, but at the end of the day, price matters the most!

[fdjake]

Chris,

You'll see the same patterns occur over and over...The key to doing this is..... DON'T do it..... Until the market puts the trade in a "high probability" scenerio for you.

Watch the QQQQ.  We had BIG rallies here the last 2 days.

Keep your eye on the June 09 QQQQ $16 PUTS.   The "ask" on them is .77......... Bid .70 as of the close.  If we get a rally tommorow and the price drops into the .60's that would be a high probability trade.  This volatility is FAR from over.

[REI_Chris]

I'll certainly look into that Jake! Did you guys hear about the homebuilders trying to get 250B from the government's teet? What a joke! I guess the automakers asking for a loan in the fashion they did wasn't much better either.

[Bluemoon06]

I am not saying it is not possible to make money trading stocks.  I am saying that nobody does.  If people made money trading stocks you would see people that got rich trading stocks.  Nobody knows anybody that actually does.

When you are at the lake and you ask the people with the big boats what they do.  You don’t find any of us that got our money trading stocks.  I am not talking about the Tracker bass boats.  I mean the Marquis 40SC or the Fairline 44.  You have to know me.  I ask people all the time what they do.  I have never found one that got their money trading stocks.

[fdjake]

Well I guess that makes it offical!!!

Bluemoon has asked all the people on a Lake if they made their money in stocks....They didn't...So he's concluded NO ONE HAS!!!

ABSOLUTELY BRILLANT!!!

Hey, running with that logic......I never met anyone who walked on the MOON.....So I guess NO ONE ever has.

RookieNYC has a 7 FIGURE trading account that he built from DIRT, but that MILLION PLUS is all BS beause he's never MET Bluemoon!!!

This is so pathetic it's actually funny.

[REI_Chris]

Yeah, this is becoming a bit asinine. The thread that I posted PROVES that you can make money from day trading, in the worst of the worst conditions. That man turned 2k into 104k in a little over two months! Tell me where else you could do that, besides gambling which is far FAR more riskier and illogical. Oh well, I'll let my money work for my while those people on the boats work for their money. I'm sure none of them take advantage of the stock market with their capital.

[propertymanager]

Chris,

Don't drink the Kool-aid!  If you believe that anyone can consistently turn $2,000 into $100,000 in two months, I've got a bridge to sell you.  I'll bet that makes RookieNYC feel silly - he's a professional in this business and only up 10% (or whatever) this year.  If he was just looking at some website, he could have made 5,000% in only two months!  LOL! 

Mike

[Liquidity]

After this rally. shorting the snot outta dry- bulker shippers is what im going after. I dont see why they have gained in this rally the BDI (rates which they get paid to move cargo) has went even lower !! its so low that they lose money if they are shipping cargo at those prices, thus a lot of ships that are on spot rates (current market rates) are anchored at ports. Ship values are have lost a lot of value and many of them will need to sell assets to survive if things dont improve soon.

just a heads up for anyone looking for a trade.

[Bluemoon06]

Well I guess that makes it offical!!!

Bluemoon has asked all the people on a Lake if they made their money in stocks....They didn't...So he's concluded NO ONE HAS!!!

ABSOLUTELY BRILLANT!!!

Hey, running with that logic......I never met anyone who walked on the MOON.....So I guess NO ONE ever has.

RookieNYC has a 7 FIGURE trading account that he built from DIRT, but that MILLION PLUS is all BS beause he's never MET Bluemoon!!!

This is so pathetic it's actually funny.

When you meet people you ask them what they do.  Right?  So when you do, how many of them say they trade stocks?  I think that propertymanager's thread asking people to post their trades is a good one.  I tell you that the only people that get rich is the stock market are the brokers.  By the way I have met 3 people who have walked on the moon (Neil Armstrong, Alan Bean, and Buzz Aldrin) and several people that have been into space.  That is just a function of being an engineer living in Houston where there are a lot of astronauts.  You can use the same logic and go where there are a lot of people with a lot of money and look for stock traders...you won't find any.

[propertymanager]

You can use the same logic and go where there are a lot of people with a lot of money and look for stock traders...you won't find any.

Bluemoon,

With people posting their trades in real time, you'll soon be able to determine if they're making money or not!  There won't be any more guessing or wondering if people are making money or not.  Furthermore, you'll also know how long they are holding their trades.  I would consider any trade that isn't posted in near real time to be suspect.

Mike

[REI_Chris]

Chris,

Don't drink the Kool-aid!  If you believe that anyone can consistently turn $2,000 into $100,000 in two months, I've got a bridge to sell you.  I'll bet that makes RookieNYC feel silly - he's a professional in this business and only up 10% (or whatever) this year.  If he was just looking at some website, he could have made 5,000% in only two months!  LOL! 

Mike

No no no Mike, I don't believe that I can do the same. I was only using it for an example that it can be done. I'm just looking to be in the black, not turn a 5000% profit! The guy who did this wasn't a novice by far, and even with all of his experience it would be hard to do again by any means. On his last trade he could have lost ~ 35k or something a long those lines when everyone else was jumping ship. He stayed in which was a big gamble on option expiration day so I don't necessarily agree with everything he has done, but hell, it worked so more power to him. I probably wouldn't have done the same.

I started to watch AMZN last night when I was searching for that next pick and picked a put that increased today by .75 and the market hasn't even taken that 'next' plunge yet!

[propertymanager]

Chris,

There is no comparison between "paper trading" and trading with real money.  It's apples and oranges.   The difference is that with real money, you can't just ignore a bad trade.  In addition, with real money, there is a commission that gets charged for every transaction and that is constantly eating away at your account balance.  Finally, with real money, you can't convince yourself that "I would have gotten out there".  You're either in or out and the result is real money.  Also, the math works against you with real money.  If you lose 50% of your trading account, then you need to gain 100% just to get back to even!

Mike

[REI_Chris]

Oh absolutely. I was going to mention that it obviously isn't the same as using your real, hard earned money and that the emotions are completely different, but I thought that went without saying. I also know about the commissions. I know I can't convince anyone without opening an account and showing my transactions, but I'd post my short comings just as I would my winners. I really don't have anything to prove, or lose I guess in this case. I really just need to open an account and go from there with some risk capital that I have laying around. If anything, I think you've just convinced me to stop playing around and get serious! Thanks Mike!
Chris

[rookieNYC]

I'll bet that makes RookieNYC feel silly - he's a professional in this business and only up 10%

Ive avoided posting on this forum for sometime due to lack of interest in debating..There are some very smart people here and I enjoy the banter..As for my 2008 gains all I can say with a sincere amount of honesty is that I worked my butt off to make %11.7 (as of today)..When you trade a sizeable account its not as easy as trading a 10k,-30k or even 100k...I wont take the same risk using the whole boat as I will with some small option plays..But at the same time I dont enjoy high risk plays (options) using my own money..Options trde very differently than stock but the gains can be amplified,same goes for losses...But yes I will trade proshares,to me its just different..What can I say..As for using these hyped up websites and that Steven parness fool who claimed to have turned 30k into 3mill I say  .. For every one person that has made these type of gains there are 100k others who are now on food stamps because of foolish trades..I trade in the real world with real money...If trading stock were so easy everyone would be doing it and they are not..Please be careful and watch your money because there is a pro around the corner waiting to take it from you...

I wish you all a good holiday as I'm taking the remainder of 2008 off and hitting Los Cabos with the wife for 2 months...I can be reached via PM...God Bless all and good health to all..