Author Topic: Make $714 dollars $2,000 by year end  (Read 2657 times)

marshdesign

  • 5 O'Clock Shadow
  • *
  • Posts: 40
  • Age: 34
    • My Design Portfolio
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 »
Side Hustle #1
Teaching graphic design online on Skillshare. Wish me luck!
https://www.skillshare.com/user/marshdesign

SwordGuy

  • Magnum Stache
  • ******
  • Posts: 3261
  • Location: Fayetteville, NC
    • Flipping Fayetteville
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

  • Bristles
  • ***
  • Posts: 476
  • Age: 27
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

  • Pencil Stache
  • ****
  • Posts: 970
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

  • Pencil Stache
  • ****
  • Posts: 970
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

  • 5 O'Clock Shadow
  • *
  • Posts: 40
  • Age: 34
    • My Design Portfolio
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.
Side Hustle #1
Teaching graphic design online on Skillshare. Wish me luck!
https://www.skillshare.com/user/marshdesign

merlin7676

  • Stubble
  • **
  • Posts: 132
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

  • Bristles
  • ***
  • Posts: 478
  • Age: 28
  • Location: Midwest, USA
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.
The Chase Trifecta:
Earn 50,000 Ultimate Rewards points with Chase Sapphire Preferred - $4k spend in 3 months.
https://www.referyourchasecard.com/6/2MOVOLZCEJ
Earn a $150 bonus with Chase Freedom Unlimited - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/18/ENYF0FTS66
Earn a $150 bonus with Chase Freedom - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/2/DBOP9XI9XT

Southwest Cards - Earn 40k miles for $2k spend in 3 months.
Premier -
https://www.referyourchasecard.com/224/JY2BMSDZJ2
Plus -
https://www.referyourchasecard.com/223/F3ZW8H140N

Recommended Cell Service - Google's Project Fi: https://g.co/fi/r/THK0WX

lexde

  • Bristles
  • ***
  • Posts: 476
  • Age: 27
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

  • Pencil Stache
  • ****
  • Posts: 619
  • Location: Florida
    • The Secret Of The Internet
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

  • 5 O'Clock Shadow
  • *
  • Posts: 38
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

  • 5 O'Clock Shadow
  • *
  • Posts: 40
  • Age: 34
    • My Design Portfolio
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.
Side Hustle #1
Teaching graphic design online on Skillshare. Wish me luck!
https://www.skillshare.com/user/marshdesign

talltexan

  • Pencil Stache
  • ****
  • Posts: 970
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?

DarkandStormy

  • Bristles
  • ***
  • Posts: 478
  • Age: 28
  • Location: Midwest, USA
Re: Make $714 dollars $2,000 by year end
« Reply #13 on: August 24, 2017, 06:42:48 AM »
How goes it?
The Chase Trifecta:
Earn 50,000 Ultimate Rewards points with Chase Sapphire Preferred - $4k spend in 3 months.
https://www.referyourchasecard.com/6/2MOVOLZCEJ
Earn a $150 bonus with Chase Freedom Unlimited - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/18/ENYF0FTS66
Earn a $150 bonus with Chase Freedom - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/2/DBOP9XI9XT

Southwest Cards - Earn 40k miles for $2k spend in 3 months.
Premier -
https://www.referyourchasecard.com/224/JY2BMSDZJ2
Plus -
https://www.referyourchasecard.com/223/F3ZW8H140N

Recommended Cell Service - Google's Project Fi: https://g.co/fi/r/THK0WX

Vintage509

  • 5 O'Clock Shadow
  • *
  • Posts: 2
  • Location: Kansas
Re: Make $714 dollars $2,000 by year end
« Reply #14 on: August 24, 2017, 07:46:24 AM »
First let me say I appreciate the investment knowledge of many in this forum as it far exceeds my own.  While investing $714 and working it to make $2000 by years end sounds interesting, it makes me feel better about my side hustle of buying and selling junk (think architectural salvage, rusty farm pieces and other stuff people decorate their yards, gardens and homes with).  I firmly believe I could turn $714 into $2000, likely more, by years end with less than 8 hours work.  Buy it, price it and sit out to sell at the local antique store.  I pay a 20% commission to the store and I have a good turn over rate of product.    We all have our niche.
Good luck with your investments!  I hope you have success.
"Once you choose faith, anything is possible." -unknown

Imma

  • Bristles
  • ***
  • Posts: 300
  • Location: Europe
Re: Make $714 dollars $2,000 by year end
« Reply #15 on: August 24, 2017, 10:02:23 AM »
My mum used to do this a lot when I was a kid, but I don't think that in the end she really made money. Sometimes she made a lot and we'd spend in on something fun, other times she lost a lot of money in a short time. She used to trade mainly in options. I think the casino comment is a fair reflection of your chances. But as you're well aware of the risk, good luck! I'm curious to see the results.

Canadian Ben

  • Pencil Stache
  • ****
  • Posts: 510
  • Age: 27
  • Location: Quebec City
Re: Make $714 dollars $2,000 by year end
« Reply #16 on: August 24, 2017, 10:08:42 AM »
Everyone realizes he is simply gambling right?

Literally the opposite of the logic way to use your money.

Vitage509 at least shows a way to have an advantage, the amount of people trying to get deals in vintage stores are a hell of a lot lower than people playing the stock market.

I'll turn 714 in 2000 by slowly letting the index fund return 7%. That way I won't lose the money. I can play free gambling games if the itch must be scratched.

BrandNewPapa

  • 5 O'Clock Shadow
  • *
  • Posts: 76
Re: Make $714 dollars $2,000 by year end
« Reply #17 on: August 24, 2017, 11:01:20 AM »
Surprised by the number of negative responses here.

OP clear stated this is for fun money. Why are so many people tearing him/her down? Let him/her play!

In for the follow.


Canadian Ben

  • Pencil Stache
  • ****
  • Posts: 510
  • Age: 27
  • Location: Quebec City
Re: Make $714 dollars $2,000 by year end
« Reply #18 on: August 24, 2017, 11:05:44 AM »
It's the "who wants to join me", and the people who are giving examples of "Good" stocks. OP can have fun however he wants, but statistically proven wastes of money, is not a good thing to recommend others to do!

dakota5176

  • 5 O'Clock Shadow
  • *
  • Posts: 17
Re: Make $714 dollars $2,000 by year end
« Reply #19 on: September 02, 2017, 08:26:59 PM »
I think you should try crypto. Do half in Bitcoin and half in ethereum. Yes it's volatile but you'd have a good shot of meeting your goal.

If you're only going to do stocks try Tsla,baba or Nvda. They're might take you there. Good luck.

talltexan

  • Pencil Stache
  • ****
  • Posts: 970
Re: Make $714 dollars $2,000 by year end
« Reply #20 on: September 05, 2017, 08:08:29 AM »
My co-workers and I have really enjoyed watching the Bitcoin Investment Trust ($GBTC) move all over the place. You may have a decent chance of meeting your goal through the use of this highly flawed investment vehicle.

marshdesign

  • 5 O'Clock Shadow
  • *
  • Posts: 40
  • Age: 34
    • My Design Portfolio
Re: Make $714 dollars $2,000 by year end
« Reply #21 on: September 14, 2017, 07:05:51 PM »
The not so exciting update. I still have not placed a trade "yet". Still waiting on more volatility in the market. I did buy some GE today at 24.24 in long hold trade account. Not very exciting! but contrarian~!
Side Hustle #1
Teaching graphic design online on Skillshare. Wish me luck!
https://www.skillshare.com/user/marshdesign

Roe

  • Stubble
  • **
  • Posts: 103
Re: Make $714 dollars $2,000 by year end
« Reply #22 on: September 15, 2017, 03:14:14 AM »
Nothing wrong with some open eyes gambling with money you can afford to loose.

Right now I have about 3K in a dormant company. It's only business is it's stake in an ongoing law suit. Either they win, and the value can go up to about 20K, or they lose and it will be worth nothing.

The time in court is done, and we are only waiting for the verdict, scheduled in October. One of the boardmembers, a lawyer himself, recently bought 100K worth of stock, which is promising. Still a gamble though.

DarkandStormy

  • Bristles
  • ***
  • Posts: 478
  • Age: 28
  • Location: Midwest, USA
Re: Make $714 dollars $2,000 by year end
« Reply #23 on: October 12, 2017, 11:37:52 AM »
The not so exciting update. I still have not placed a trade "yet". Still waiting on more volatility in the market. I did buy some GE today at 24.24 in long hold trade account. Not very exciting! but contrarian~!

You've lost money on that already.

I'm guessing the $714 is still ~$714?
The Chase Trifecta:
Earn 50,000 Ultimate Rewards points with Chase Sapphire Preferred - $4k spend in 3 months.
https://www.referyourchasecard.com/6/2MOVOLZCEJ
Earn a $150 bonus with Chase Freedom Unlimited - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/18/ENYF0FTS66
Earn a $150 bonus with Chase Freedom - only $500 spend needed in 3 months.
https://www.referyourchasecard.com/2/DBOP9XI9XT

Southwest Cards - Earn 40k miles for $2k spend in 3 months.
Premier -
https://www.referyourchasecard.com/224/JY2BMSDZJ2
Plus -
https://www.referyourchasecard.com/223/F3ZW8H140N

Recommended Cell Service - Google's Project Fi: https://g.co/fi/r/THK0WX

talltexan

  • Pencil Stache
  • ****
  • Posts: 970
Re: Make $714 dollars $2,000 by year end
« Reply #24 on: October 13, 2017, 12:22:07 PM »
A month ago, I put about $5,400 into a small cap international mutual fund, and it's already turned into $5,800.