Author Topic: Make $714 dollars $2,000 by year end  (Read 1270 times)

marshdesign

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Make $714 dollars $2,000 by year end
« on: July 22, 2017, 06:24:19 PM »
I been trading stocks for 15 years but more on a near term basis (1 month and multiple year holdings before I sell for profit). I never been a fan of "Day trading" but I wanted to give it a go with some extra money that came my way by surprise. Goal is to turn $714 currently in a new trading platform to $2,000 by year end, using "whatever means necessary" to achieve that goal (while keeping your money in your brokerage of course).

I am going to put all $714 dollars into one stock starting monday and hope for a swing trade. Looking for good candidates. Looking for higher beta volatile stocks to amplify my returns since I have so little in this "fun" account. I am looking at triple leveraged ETF'S. I have traded triple leverage oil ETF's a few years ago (there is something called contango, so only good for day trading). SO any ideas for Monday?  Anyone want to join me? A little more than double your money in your fun account by year end?

« Last Edit: July 22, 2017, 06:51:33 PM by marshdesign »
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SwordGuy

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Re: Make $714 dollars $2,000 by year end
« Reply #1 on: July 23, 2017, 10:56:01 AM »
No.  Not a chance.

I have zero special knowledge that would let me know which stocks will be winners and which will be losers.

Since people who are paid to do this, and have staffs paid to help them, do a horrible job of this, I have zero expectation that I could do better than they would while having less knowledge and less resources.

I do buy a $1 lottery ticket once or twice a month.  That's the limit on my gambling.

lexde

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Re: Make $714 dollars $2,000 by year end
« Reply #2 on: July 24, 2017, 06:21:20 AM »
No.  Not a chance.

I have zero special knowledge that would let me know which stocks will be winners and which will be losers.

Since people who are paid to do this, and have staffs paid to help them, do a horrible job of this, I have zero expectation that I could do better than they would while having less knowledge and less resources.

I do buy a $1 lottery ticket once or twice a month.  That's the limit on my gambling.
This.

The only people who have knowledge sufficient to make this kind of bet worthwhile would be guilty of insider trading.

talltexan

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Re: Make $714 dollars $2,000 by year end
« Reply #3 on: July 24, 2017, 09:07:38 AM »
Why not just triple-lever one of the indices, like QQQ?

talltexan

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Re: Make $714 dollars $2,000 by year end
« Reply #4 on: August 02, 2017, 02:37:29 PM »
AK Steel has really gotten hammered lately. I don't think you'd triple your money going long in the stock, but you might have a decent shot at making that $714 into $1,000 by the end of the year.

Disclosure: No current position in AKS.

marshdesign

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Re: Make $714 dollars $2,000 by year end
« Reply #5 on: August 02, 2017, 04:50:07 PM »
Triple leveraging is almost a must if I want such a high quick return. Since this is truly "play" money I feel like for once I want to take some risk (i never take enough risk in my main investments). I almost want to do the 3x bear QQQ ETF! I think tech is just waiting to go fizz.

AK stell, I owned that a few years back, burned me good but you never know.
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merlin7676

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Re: Make $714 dollars $2,000 by year end
« Reply #6 on: August 03, 2017, 11:12:59 AM »
If it's fun money and you want to play with it using a higher risk than you normally would and don't mind losing it. I would say your better bet is to hit the casino and a have a few hours of fun either on the slots or at the blackjack table. Plus most casinos have excellent buffets too :)

DarkandStormy

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Re: Make $714 dollars $2,000 by year end
« Reply #7 on: August 03, 2017, 12:04:17 PM »
You want a 180% ROI in 5 months?  Get out.

You would have to "time" every day perfectly and even then you probably won't come close.  UPRO or TQQQ some days, the inverse on the other.  In the end, you'll lose. 

Even $1,000 (40% ROI) seems very unlikely.
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lexde

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Re: Make $714 dollars $2,000 by year end
« Reply #8 on: August 03, 2017, 12:27:42 PM »
If it's fun money and you want to play with it using a higher risk than you normally would and don't mind losing it. I would say your better bet is to hit the casino and a have a few hours of fun either on the slots or at the blackjack table. Plus most casinos have excellent buffets too :)
Ooh I second this! I don't play often but did manage to take $250 up to $2100 one time. Walked away before I lost it all. Was a fun night and you have slightly better chances than with making Wall Street bets.

The Money Monk

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Re: Make $714 dollars $2,000 by year end
« Reply #9 on: August 08, 2017, 11:59:36 PM »
should be fun. Good luck.

Maybe try one of the Crypto currencies? Volatile, but they have been on a tear lately.

dpc

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Re: Make $714 dollars $2,000 by year end
« Reply #10 on: August 09, 2017, 08:07:48 AM »
If you're really doing this, post every trade you make with dates, return and acct balance as an edit to you original message.

Make a log of it. Something like:

Date TotalBalance Fund DaysHeld Return Etc.
Transaction 1 ...
Transaction 2 ...

Either we can watch the ride, and celebrate with you. Or it can be a live time example, of why the mustacian sticks to index funds. Either way the community will enjoy it.

marshdesign

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Re: Make $714 dollars $2,000 by year end
« Reply #11 on: August 09, 2017, 08:35:33 PM »
Good deal. I will post trades once i sell and either make a profit or hmmmm... not :). Hopfully I will not become a poster girl for what not to do with your money.
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talltexan

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Re: Make $714 dollars $2,000 by year end
« Reply #12 on: August 15, 2017, 09:00:21 AM »
If we're encouraging marshdesign to do this, should some of the rest of us step in?

Could I use my $2,000 to pay down some credit card debt and then post shadow-balances on the interest I would have earned had I not paid it down?