GoFuckYourself.com - Adult Webmaster Forum - View Single Post

RWF · 04-12-2004, 12:02 PM

If you are going to "play" in the stock market, then only invest what you can afford to loose.

Also do NOT invest all your play money on one stock, or even the same kind of stocks. Example:

I started with $7000 3 years ago, and have since invested in the following stocks, won on some, lost on others.

AMD - Bought 300 option contract when the stock was trading around $7.00, sold the contracts when the stock traded at about $11.00. I made about $18.000 on that deal, but later lost $4500 on another option deal with same stock.
ASKJ - Ask Jeeves, bought 2400 at about $3.00. Sold at about $20.00
CYBR - CyberCare, bought 2000 at around $2.00, went down the drain and sold at about $0.15
GNSL - Genomic Solutions, bought 1500 around at about $4.00, dumped at about $1.00. GNSL was later sold to another company.

I do quite a bit of day trading. On Thursday I bought 2700 AMD for $17.16, then sold them today at $17.26. Many times I do this round-trip the same day, or even several times a day.

Overall my original $7000 have turned into $40K+, but I have taken, and are still willing to take chances, because it is play money. Cashed in a few chips in November and bought a Lexus SC400 on eBay

I use AmeriTrade, actually signed up for Datek but they merged.

If you want to day trade, real-time Level II quotes are very helpful/important, because then you can see how many stocks are for sale, and how many is wanted and at what price. With a little luck, Level I quotes can do, but it has to be real-time!

Hope this helps a bit...

04-12-2004, 12:02 PM
RWF Confirmed User Join Date: Mar 2004 Posts: 113	If you are going to "play" in the stock market, then only invest what you can afford to loose. Also do NOT invest all your play money on one stock, or even the same kind of stocks. Example: I started with $7000 3 years ago, and have since invested in the following stocks, won on some, lost on others. AMD - Bought 300 option contract when the stock was trading around $7.00, sold the contracts when the stock traded at about $11.00. I made about $18.000 on that deal, but later lost $4500 on another option deal with same stock. ASKJ - Ask Jeeves, bought 2400 at about $3.00. Sold at about $20.00 CYBR - CyberCare, bought 2000 at around $2.00, went down the drain and sold at about $0.15 GNSL - Genomic Solutions, bought 1500 around at about $4.00, dumped at about $1.00. GNSL was later sold to another company. I do quite a bit of day trading. On Thursday I bought 2700 AMD for $17.16, then sold them today at $17.26. Many times I do this round-trip the same day, or even several times a day. Overall my original $7000 have turned into $40K+, but I have taken, and are still willing to take chances, because it is play money. Cashed in a few chips in November and bought a Lexus SC400 on eBay I use AmeriTrade, actually signed up for Datek but they merged. If you want to day trade, real-time Level II quotes are very helpful/important, because then you can see how many stocks are for sale, and how many is wanted and at what price. With a little luck, Level I quotes can do, but it has to be real-time! Hope this helps a bit...