Like any good scam, the idea is to get the mark to commit serious cash,
_then_ take it all away... ;)
On 4/10/21 2:07 PM, Caleb Knauer wrote:
It works great, right until it doesn't. If it was that easy then we'd
all be wolf of wallstreet.
On Fri, Apr 9, 2021 at 10:13 PM Steve Jones <[email protected]> wrote:
So I've been dicking around with the market, trivial amount, 5 shares per
stock. If I had put a lot in Tesco would have done me well.
I have 100 shares of this penny stock, it's a gold backed cryptocurrency, I
watch it bounce a lot throug the day and its followed the same trend for its
couple months existence.
So I set up a paper account and was dicking today with another penny stock. Set
buy and sell limits with about 10,000 in the play money. It made 4k in 2
rounds. It's just a couple pennies it fluctuates but at 500,000 shares that
adds up.
I told the wife and of course she wants me to cash in something and play with
real money.
I'm more inclined to see how the play money performs, I have some limits on the
crypto stock that we will see what happens on monday morning.
I'm thinking to myself there has to be a catch. If it was that simple,
everybody would be doing it.
You guys who mess around probably went through a time where you tried that kind
of trading, and none of you talk about it now, so I assume the catch is pretty
straight forward.
I was looking at my IRA, it's done pretty good at 17 percent. But just taking
10k of it and playing with this at 1 percent per trading day, that would be
another 27k annually.
I do see why day traders need low latency though, but with limits I dont see it
has a lot of impact.
What's to stop a guy from spending an hour or 2 every morning with a relatively
small amount in the big scheme of things like 10k trading to 1 percent or
better and then going to work? 100 bucks a day or more doesnt seem terrible for
an hour.
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