Yep and I tend to cash out when I get lucky enough to double my money. That was a stupid mistake for TSLA last year... I made a very large sum of money from them but it could have been so much more. I get jumpy. Bird in the hand and all that. Drives me crazy. I prefer a good index fund and let it ride.
From: Bill Prince Sent: Monday, April 12, 2021 11:51 AM To: [email protected] Subject: Re: [AFMUG] OT: penny stocks Don't forget, that when you're playing with toy money, you have no skin in the game. As soon as yuor real money gets involved, you can't be certain you'd make the same kind of decisions. bp <part15sbs{at}gmail{dot}com>On 4/12/2021 10:01 AM, Steve Jones wrote: I just dont get it I reset my account to specific cash amount. I dont understand buying power, seems like credit. The one im toying with is RGBP, if someone can look and tell me what thinkorswim is letting me do that the real world wouldnt allow On Mon, Apr 12, 2021 at 11:47 AM Carl Peterson <[email protected]> wrote: It is also pretty easy to look like a genius when markets are going up an idiot on the way down. Markets have been going up and up and up for a long long time now. At some point that party will end. On Mon, Apr 12, 2021 at 11:44 AM Carl Peterson <[email protected]> wrote: What is often missing from play accounts is often liquidity. They generally assume you can make any trade at wherever the current "price" is. If you are trading VWAPY that might generally be true. Perhaps not for VWAGY. Often not when trending $rando penny stock. On Mon, Apr 12, 2021 at 11:12 AM Steve Jones <[email protected]> wrote: im simply not grasping this on the paper trading site, ive made 7500 this morning on 10k i was playing with. thats 11,000 dollars in 2 days of playing around with essentially 10,000 up front. There has to be more to this. i see on my schwab account if i make more than 4 same day trades in a week i get flagged as a day trader and need to have 25,000 in my account or i get a margin call. I dont know what that means, im not buying on margin, it would be cash. assuming that I had actually had 10,000 in my real account, would I really have profited 11,000 in 2 days on 5 trades? (there was some math mistakes made, I made the same size purchase each time, forgetting that the increased price lowered the number of stocks i could get for 10k, but technically the sale would have put enough in to cover the difference) On Sat, Apr 10, 2021 at 4:08 PM Caleb Knauer <[email protected]> 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. > > > -- > AF mailing list > [email protected] > http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com -------------------------------------------------------------------------------- -- AF mailing list [email protected] http://af.afmug.com/mailman/listinfo/af_af.afmug.com
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