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-   -   I'm up 210% in the Stock Market. Who wants Stock tips? (https://gfy.com/showthread.php?t=411883)

MetaformX 01-03-2005 10:43 AM

I'm up 210% in the Stock Market. Who wants Stock tips?
 
I am up 210% in 2 months. It takes most people 20 years to be up that much :)

It's all about minimizing your risk through technical analysis and then getting in and out, let those winners run and cut the losers loose right away. And most importantly, don't listen to CNBC or your broker for stock advice.

If there is enough people interested, I will start posting my stock tips here in like a weekly thread. Who is interested?

wdsguy 01-03-2005 10:46 AM

I would be interested, maybe you should just do a email newsletter

galleriesx 01-03-2005 10:47 AM

why not :)

xclusive 01-03-2005 10:48 AM

yeah do a news letter and show scren shots of what is doing well for you and charge 30 a month for the newsletter

pornstar2pac 01-03-2005 10:48 AM

I bet you watched the movie, "WallStreet" last night

Head 01-03-2005 10:49 AM

Good work! I'll tune in.

liquidmoe 01-03-2005 10:50 AM

I used to watch Wall Street and Boiler Room almost nightly, I think got the majority of the good lines memorized at this point. Always a great movie night for some motivation to get work done the next day :thumbsup

I Like Chocolate 01-03-2005 10:51 AM

I wouldnt agree that it takes most people 20 years to be up 210%. We should have a thread. Ill post pics too.

zentz 01-03-2005 10:51 AM

i want some tips

Nismo 01-03-2005 10:54 AM

I am extremely interested. Post some tips DAILY! =)

longbrick 01-03-2005 10:54 AM

definetly interested. btw do you use online brokers?

MetaformX 01-03-2005 10:54 AM

Quote:

Originally Posted by xclusive
yeah do a news letter and show scren shots of what is doing well for you and charge 30 a month for the newsletter


Hehe, well, let's not jump ahead of ourselves yet :)

MetaformX 01-03-2005 10:56 AM

Quote:

Originally Posted by pornstar2pac
I bet you watched the movie, "WallStreet" last night

No, I dropped out of college temporarly when I was 19 to go day trade full time for 2 years. I have been doing this a while, but I've developed a new technique the last few months which is working out really well.

jeffrey 01-03-2005 10:58 AM

Quote:

Originally Posted by longbrick
definetly interested. btw do you use online brokers?


and if yes, who?

MetaformX 01-03-2005 11:00 AM

Quote:

Originally Posted by longbrick
definetly interested. btw do you use online brokers?

Yes, I user Etrade's Power Etrade Pro. If you want to make money in the market, you have to use an online broker. Picking up the phone and calling your broker is not the way to go. Of course the way I trade, I have to keep an eye on the market every single day, so it's not for everyone.

Fatalspeed 01-03-2005 11:02 AM

sure, tips are always welcome :winkwink:

bigdog 01-03-2005 11:02 AM

Quote:

Originally Posted by MetaformX
Yes, I user Etrade's Power Etrade Pro. If you want to make money in the market, you have to use an online broker. Picking up the phone and calling your broker is not the way to go. Of course the way I trade, I have to keep an eye on the market every single day, so it's not for everyone.

do you suggest etrade for daytraders?

Serge Litehead 01-03-2005 11:02 AM

Good stuff. Bring it on! :thumbsup

MetaformX 01-03-2005 11:04 AM

Quote:

Originally Posted by jeffrey
and if yes, who?

If you are starting out, I would recommend either Etrade or Ameritrade. They are both very fast with their trade executions, and the commision is about $10 per trade.

Verbal 01-03-2005 11:04 AM

The GFY stock club ... count me in

sexsup 01-03-2005 11:07 AM

210% in 2 months is 105% monthly, performances like that cant be done with low risk

MetaformX 01-03-2005 11:12 AM

Quote:

Originally Posted by bigdog
do you suggest etrade for daytraders?

Yes, etrade is great, ameritrade is good too. Etrade has the Power Etrade Pro that gives you level 2 charts (which show you the trades that people have in place at certain price points) and most importantly, it is not browser based, its an actual application that you download, so its very fast. If you make 50 trades per month, it is free, so if your day trading, its a good way to go.

The advantage that Ameritrade has, and it could be a big one, is that if you trade OTC stocks (penny stocks), Ameritrade will cost $10.99 for unlimited amount of shares where as Etrade is $10 per each 5000 shares.

I am starting to get into some OTC stocks (they are very very risky, I don't recomment anyone that is starting out to touch OTC's) and I bought a stock with Etrade that was 45 cents a share, and I bought 50,000 shares, and I ended up paying $100 on the commison on that trade to Etrade where as it would have only cost me $10.99 at Ameritrade.

You have to realize that as a day trader, your biggest expense is commision, it is imperative that you keep that cost down as much as possible, so if I continue to play the OTC's, I may switch to Ameritrade, or have 2 accounts, one at Ameritrade for OTC's and another at Etrade for regular trades.

MetaformX 01-03-2005 11:15 AM

Quote:

Originally Posted by sexsup
210% in 2 months is 105% monthly, performances like that cant be done with low risk

No, let me make it clear, it is NOT low risk. But with the method I am using now, I am minimizing my risk to 2% of my capital per trade, so the most you will lose is 2% of your money per trade as long as you follow the plan. If you do not follow the plan, (set sell stops at certain price points) you could lose alot of money.

This is why you have to watch the market daily, and for some people, that is impossible to do, so if you fall into that catagory, this is NOT for you.

strobi 01-03-2005 11:18 AM

Never ever take advice from brokers/news sites.. very true ;-) Just learn to read the numbers! My portfolio is up quite nicely ;-)

r3ap3r 01-03-2005 11:21 AM

Tips would be great. You might want to look into starting a newsletter if you get alot of interested people.

warlock5 01-03-2005 11:30 AM

Just remember that you haven't made the money until its cash in your pocket. A lot of people had great returns in 99 and still lost everything.

juicyjuice 01-03-2005 11:30 AM

yes id be very interested in a newsletter, or at least in hearing your system...
2% downside per trade.. what is the upside potential? at what point do u take your gains?

MetaformX 01-03-2005 11:31 AM

Quote:

Originally Posted by strobi
Never ever take advice from brokers/news sites.. very true ;-) Just learn to read the numbers! My portfolio is up quite nicely ;-)

Yes. Think about this guys, when a broker right out of college is hired by one of the big wallstreet firms like goldman for example, they will spend their first 2 years as a broker on the phone only, calling a list of past or present clients like a TELEMARKETER and trying to sell them stock.

Of course they put a nice spin on it and pretending they are doing you and your retirement a favor, but the only favor they are doing is to their bottom line. Now, would you take tips on how to manage your money from a glorified telemarketer?

You should take matters into your own hands. Do your own research, and DO NOT trust you hard earned money with those wallstreet crooks. There were brokers that were still recomending Enron up untill it filed for bankruptcy. Learn from the past.

MetaformX 01-03-2005 11:33 AM

Quote:

Originally Posted by warlock5
Just remember that you haven't made the money until its cash in your pocket. A lot of people had great returns in 99 and still lost everything.

Paper profits amounts to zero untill it is realized, so yes, the key is to cut your losers fast and let your winners run and then TAKE PROFIT.

detoxed 01-03-2005 11:36 AM

Quote:

Originally Posted by liquidmoe
I used to watch Wall Street and Boiler Room almost nightly, I think got the majority of the good lines memorized at this point. Always a great movie night for some motivation to get work done the next day :thumbsup


Unfortunately those movies dont make you smart :)

MetaformX 01-03-2005 11:43 AM

Quote:

Originally Posted by juicyjuice
yes id be very interested in a newsletter, or at least in hearing your system...
2% downside per trade.. what is the upside potential? at what point do u take your gains?

The upside potential diffrers from stock to stock, unlike the downside potential which is set at 2%, for the upside, we will let the chart tell us when to exit. The 2% rule for the downside is set at 2% because if you do not cut your losses at 2%, you are risking losing your entire capital, and for a trader, your capital is your blood, so it is absolutly imperative that you do not put your entire capital at risk on any trade.

And we will set the stops in manually, so it will automatically sell the stock once it goes down 2% from our entry point. This is because if you do not set the stop manually, when it comes to selling, many people will actually divert from the rule thinking "well, it will probably come back up, and this is when a simple trade could turn into a complete disaster.

I won't do a newsletter, I still have a Adult business to run :) but I will do a thread here where I will post the daily picks and my entry points and you guys can see if it is right for you. No one here should just jump in and follow my picks right away, you should do some research of your own (I will teach you guys how the system works) and then you can decide for yourself if it will work out for you.

Be back after lunch.

Adulter 01-03-2005 12:16 PM

good stuff... please, continue!

MetaformX 01-03-2005 12:57 PM

Most Mutual Fund managers would kill for a 11% gain in 1 YEAR now a days. How about a 11% gain in 3 DAYS on a day when the Markets are down? :)

http://www.studiocash.com/stock1.jpg

Rui 01-03-2005 12:58 PM

Meta - do you have some spare min on icq nowadays ;) ?

wdsguy 01-03-2005 01:00 PM

Quote:

Originally Posted by MetaformX
The upside potential diffrers from stock to stock, unlike the downside potential which is set at 2%, for the upside, we will let the chart tell us when to exit. The 2% rule for the downside is set at 2% because if you do not cut your losses at 2%, you are risking losing your entire capital, and for a trader, your capital is your blood, so it is absolutly imperative that you do not put your entire capital at risk on any trade.

And we will set the stops in manually, so it will automatically sell the stock once it goes down 2% from our entry point. This is because if you do not set the stop manually, when it comes to selling, many people will actually divert from the rule thinking "well, it will probably come back up, and this is when a simple trade could turn into a complete disaster.

I won't do a newsletter, I still have a Adult business to run :) but I will do a thread here where I will post the daily picks and my entry points and you guys can see if it is right for you. No one here should just jump in and follow my picks right away, you should do some research of your own (I will teach you guys how the system works) and then you can decide for yourself if it will work out for you.

Be back after lunch.


Looking forward to it

MetaformX 01-03-2005 01:03 PM

Quote:

Originally Posted by Rui
Meta - do you have some spare min on icq nowadays ;) ?

Sure. 127-058-515

zagi 01-03-2005 01:06 PM

Meta, is it worth trading on a daily basis, do you take taxes into account, aren't they 50% on short term capital gains ( day trading ) ?

Also how much money are we really talking about here, because it seems that with the # of trades you're doing on a daily basis you lose quite a bit of your profit to comission and that probably means that there isn't much profit to begin with

And finally, doesn't it make more sense to use 1 broker say Etrade for its level2 app and say ameritrade for OTC stocks?

canplayer 01-03-2005 01:08 PM

this kind of trading is done very often for daytraders. They calculate their risk, say R, and they won't risk more on every trade. They determine size of position based on R. I'm telling you that you will lose more often than not with this model, except, since you are only losing R on each trade, your winners will compensate for the losers. I know professional traders who've been trading much longer than you've been toilet trained and they don't make 200+%. It's not a special model you found, and the fact is, you're looking for certain criteria before you enter a trade and count on only losing R but possibly on a winner making 3-4 X R. So it's nice you made 200% in 2 months, but talk to me in a year from now, you may have gotten 1 or 2 lucky picks, but with your model I don't see you consistenly doing it.

BlueQuartz 01-03-2005 01:16 PM

Wow - You Are A Legend In Your Own Mind

emthree 01-03-2005 01:17 PM

:raises hand:

I'm down again, with this one evil tech stock.


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