eoMMan's $1,000 Stock Trading Thread (1 Viewer)

[eoMMan]

I'll be using this thread to discuss and track my stock trading. I have a friendly contest going with someone where we both start with $1k on scottrade and want to grow it as much as possible. This isn't retirement money. This is for funsies. I don't care that trades are $7 each. I know I'll get flack from several of you for starting with such a low balance and how the fees will eat it up, yadda yadda, I don't care. I'm going to have fun with this. If it makes you feel better, at a couple of zeros to my account and see how I do. Feel free to fade, follow, whatever.

Balance at 1/20/14....$1,000

 

[eoMMan]

Made my first trade.....

27 shares of Microsoft at $36.40.....$987.80 total with the $7 fee.

 

[StrikeS2k]

I'd recommend Best Buy, DDD, and Twitter.

HTH.

 

[Mystery Achiever]

Good luck beating your friend.

Are you going to do a portfolio or buy one at a time and flip?

 

[Random]

I know you said its just for fun, but with that kind of vig, the fewer trades, the better.

 

[eoMMan]

Good luck beating your friend.

Are you going to do a portfolio or buy one at a time and flip?

At most, I'll hold 2 positions but most of the time it'll be flipping the entire account on each trade.

 

[siffoin]

what's your profit objective? what's the stop?

 

[eoMMan]

what's your profit objective? what's the stop?

I think we just decided until the end of the year but I'll need to confirm. I'm definitely not doing any trades long term.

 

[KCitons]

Is this a Q&A on your choices, or just a shut up and watch kinda thread?

If it's the former, why MS for the short term?

 

[siffoin]

what's your profit objective? what's the stop?

I think we just decided until the end of the year but I'll need to confirm. I'm definitely not doing any trades long term.

No your profit objective on the Microsoft trade. And where will you exit if this trade turns against you?

 

[bushdocda]

Waitress stock is hopefully on your watch list.

 

[Keerock]

FWIW... I like MCP $5.30 - $5.40.

 

[eoMMan]

Is this a Q&A on your choices, or just a shut up and watch kinda thread?

If it's the former, why MS for the short term?

You guys are free to criticize my choices. It's all good.

Regarding Microsoft, they announce earnings this week and I think they will surprise. They have bounced back with economy and have some great products now (xbox, tablet thingy, software, phones, etc.) ,If it pops 5% or more, I'll get out. At least 5% will be my goal for most trades.

As far as when I'll get out if it falls, somewhere between 5% to 10% and I'll get out.

 

[Eminence]

Waitress stock is hopefully on your watch list.

 

[siffoin]

Thoughts in general: You are going to need a very high win rate (70%+) as you are essentially willing to risk $1.00 in an effort to make $.50. In order for you to sustain 12 months of success with this "method", you will need to be a master at perfectly timing your entries as well as your exits. Looking at the $MSFT chart, I'm not sure you nailed this one "perfectly."

I think that you'd be more successful with the method reversed: risk $.50 in an effort to make $1.00. This way you could be wrong 60% of the time and still make money.

Trading is more about money management than anything else.

I wish you success.

 

[Abraham]

I think that you'd be more successful with the method reversed: risk $.50 in an effort to make $1.00. This way you could be wrong 60% of the time and still make money.

How does that work?

 

[siffoin]

I think that you'd be more successful with the method reversed: risk $.50 in an effort to make $1.00. This way you could be wrong 60% of the time and still make money.

How does that work?

Hypothetically: I make 10 trades. 6 trades I lose $.50 for a total of -$3.00. On 4 trades I make $1.00 for a total of $4.00. Over the course of 10 trades I make net profit $1.00.

In regards to this $MSFT trade. eoMMan would need to make a determination of a price target for $MSFT. For an easy example lets just say a price target of $40 (profit of $3.60). He would then set his stop at $34.60 (loss of $1.80). Profit and stop loss would be determined by eoMman's unique method for determining $MSFT's future price target.

 

[GTBilly]

It's good to see someone put their money where their mouth is. This thread will turn to a den of haters with nuggets of fun and brilliance thrown in. To the OP please leave the shtick and crap to others and you just report and comment honestly and this could turn into a must read thread.

 

[Ministry of Pain]

IN, been wanting to do this myself.

 

[Mario Kart]

I'm interested in following this. I think, with timing, checking when companies bring out their earnings reports, new product introduction, any type of good news, you need to get those quick hits. Buying MSFT may not be the best move at all. The stock doesn't do much in any short term status.

I see you're looking for a 5% (roughly $2.00) increase from the stock. I don't think you're going to get that. Either way, need some small quick hits.

Isn't there a website where people can join, for fun, and set up a similar game like this? Could get an FBG type game going to play around with... um, during the off season and stuff.

 

[fantasycurse42]

FWIW... I like MCP $5.30 - $5.40.

Curious as to why? I used to trade Lynas, but haven't in a few years...

 

[eoMMan]

It's good to see someone put their money where their mouth is. This thread will turn to a den of haters with nuggets of fun and brilliance thrown in. To the OP please leave the shtick and crap to others and you just report and comment honestly and this could turn into a must read thread.

 

[Keerock]

FWIW... I like MCP $5.30 - $5.40.

Curious as to why? I used to trade Lynas, but haven't in a few years...

It started when i happened to catch What's The Earth Worth? on the History Channel. They profiled MCP as the company sitting on the largest supply (by a large margin) of rare earth metals, and how they are now ready to mine them and make them available.

If nothing else, the price is currently below their book value (~$7.50) and way below it's $75 high. Not that I think it would get back there, ever, but I think it's a good short term play.

I think GM deals with companies in this sector... maybe he has some insight?

ETA: I don't own any MCP... but I may start buying some this week

 

[Arizona Ron]

This is for funsies.

"Phrases/terms that need to be retired immediately"

 

[seahawk 17]

It's good to see someone put their money where their mouth is. This thread will turn to a den of haters with nuggets of fun and brilliance thrown in. To the OP please leave the shtick and crap to others and you just report and comment honestly and this could turn into a must read thread.

 

[Mario Kart]

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

 

[KCitons]

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

For those that bank at Wells Fargo, they have a PMI account. IIRC you need to have a $25k balance with them. This can include any of checking, savings, credit card balance or mortgage account. I get 100 free trades per year with this account. Which is plenty from me.

 

[Mario Kart]

Been looking and only see TRADEKING or TD AMERITRADE as an option to jump in again. Not sure how often I would trade but would not mind something to buy and sit for, at most, half a year. Many of these sites force you to trade and then take fees off of what you might earn. There is only one person winning in these transactions.

The other option, safer, is to just put money into my Roth and but a couple index funds or something with Edward Jones or Vanguard. (these two I work with or have worked with in the past)

 

[Plorfu]

If you're looking for quick hits just for funsies, why not try options and the wild swings those things sometimes have?

 

[⚡DEADHEAD⚡]

If you wind up +$100 at the end of the year, that's a 10% gain. Pretty solid. If you go in and out of let's say a dozen stocks, that's a trade/month. With corresponding research and other stuff, seems like a lot of work for a hundo.

I like the options idea. Go for it.

 

[optionmaven]

nice hit. after reporting after hours up 1.50 to 37.57. Still climbing too. 78 cents vs 68 estimate. 24.5 billion vs 23.6.

 

[eoMMan]

nice hit. after reporting after hours up 1.50 to 37.57. Still climbing too. 78 cents vs 68 estimate. 24.5 billion vs 23.6.

Thanks. I'll probably get out tomorrow for a tiny profit. Just way too big of a company to move much....even with great news. Lesson learned.

 

[Kleck]

Been looking and only see TRADEKING or TD AMERITRADE as an option to jump in again. Not sure how often I would trade but would not mind something to buy and sit for, at most, half a year. Many of these sites force you to trade and then take fees off of what you might earn. There is only one person winning in these transactions.

The other option, safer, is to just put money into my Roth and but a couple index funds or something with Edward Jones or Vanguard. (these two I work with or have worked with in the past)

I have multiple accounts with TD Ameritrade and have been very happy with them. Simple, no BS, fee for whatever I want to trade in any of my accounts.

 

[eoMMan]

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

I use scottrade. I think the minimum account balance is 500 and it is 7 for each. No required amount of trades. You can buy and hold.

 

[Fennis]

Made my first trade.....

27 shares of Microsoft at $36.40.....$987.80 total with the $7 fee.

earnings exceeded expectations.

should look good for you tomorrow.

 

[Mario Kart]

Been looking and only see TRADEKING or TD AMERITRADE as an option to jump in again. Not sure how often I would trade but would not mind something to buy and sit for, at most, half a year. Many of these sites force you to trade and then take fees off of what you might earn. There is only one person winning in these transactions.

The other option, safer, is to just put money into my Roth and but a couple index funds or something with Edward Jones or Vanguard. (these two I work with or have worked with in the past)

I have multiple accounts with TD Ameritrade and have been very happy with them. Simple, no BS, fee for whatever I want to trade in any of my accounts.

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

I use scottrade. I think the minimum account balance is 500 and it is 7 for each. No required amount of trades. You can buy and hold.

Okay, so you guys can sit and hold? No yearly, quarterly, monthly trade requirement at all? Like, you don't get a "free" 90 days and then the requirement kicks in or anything like that?

I am getting more interested if there is no trade requirement. That is the one thing that turned me way off of this stuff.

 

[sbonomo]

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

For those that bank at Wells Fargo, they have a PMI account. IIRC you need to have a $25k balance with them. This can include any of checking, savings, credit card balance or mortgage account. I get 100 free trades per year with this account. Which is plenty from me.

i have something similar at ban of America. 100k total between Merrill and bac and I get 40 free trades per month.

 

[Skylord]

dot

 

[Keerock]

Sell the news!

 

[eoMMan]

Just got out of MSFT at $37.50 for a $1.10/shr profit. After the $14 in fees ($7 x 2), I made about $15 on the trade.

Currently at $1,015.68....all in cash.

 

[optionmaven]

Just got out of MSFT at $37.50 for a $1.10/shr profit. After the $14 in fees ($7 x 2), I made about $15 on the trade.

Currently at $1,015.68....all in cash.

Borrow a 100 bucks and buy 2 shares of aapl today in the 550-555 range. On tuesday, I'm thinking it will be at 575-580.

 

[KCitons]

I'm willing and ready. Which sites are the best to use?

I did this about 10 years ago but they had a requirement on trading. Are there sites where you can buy and hold and not be forced to execute XYZ amount of trades in a month? Curious how these things have evolved in that span.

For those that bank at Wells Fargo, they have a PMI account. IIRC you need to have a $25k balance with them. This can include any of checking, savings, credit card balance or mortgage account. I get 100 free trades per year with this account. Which is plenty from me.

i have something similar at ban of America. 100k total between Merrill and bac and I get 40 free trades per month.

40 a month is a lot for an average Joe like me. Do you ever use all 40?

 

[Keerock]

Ruh roh... time to take a break IMO, unless you feel like shorting something.

 

[Skylord]

Just got out of MSFT at $37.50 for a $1.10/shr profit. After the $14 in fees ($7 x 2), I made about $15 on the trade.

Currently at $1,015.68....all in cash.

Borrow a 100 bucks and buy 2 shares of aapl today in the 550-555 range. On tuesday, I'm thinking it will be at 575-580.

What calls are you looking at?

 

[optionmaven]

Just got out of MSFT at $37.50 for a $1.10/shr profit. After the $14 in fees ($7 x 2), I made about $15 on the trade.

Currently at $1,015.68....all in cash.

Borrow a 100 bucks and buy 2 shares of aapl today in the 550-555 range. On tuesday, I'm thinking it will be at 575-580.

What calls are you looking at?

Personally, I'm long(March, April) 600 calls. The gambler in me has 560 and 570 weekly calls that expire at the end of this week and next. I think these are still getting alot of play today. A little concerned its not holding its earlier gains, but most things i'm looking at are all selling off from morning highs.

 

[Eminence]

Hey man, sell all that #### you bought and invest it all into HEMP stock. You got the money, I got the stock picks. #tagteam

 

[KCitons]

Made another trade this morning....

Picked 110 shares of ARIA for $9.10/share.

Ariad Pharmaceuticals is a drug company that focuses on oncology drugs. They have a good pipeline and the biggest news with them are all the rumors that a bigger company will potentially buy them (such as an eli lilly). We'll see. I think I can get at least 10% on this one.

Was there a close second choice instead of Ariad?

 

[eoMMan]

Hey man, sell all that #### you bought and invest it all into HEMP stock. You got the money, I got the stock picks. #tagteam

Thanks, but I'll pass.

 

[Eminence]

Hey man, sell all that #### you bought and invest it all into HEMP stock. You got the money, I got the stock picks. #tagteam

Thanks, but I'll pass.

I could have made you like $400 today.

 

[zoonation]

I see Eminence is playing marbles in here!