Author Topic: RobinHood race from $2,500 to $250,000  (Read 513 times)

Roland of Gilead

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RobinHood race from $2,500 to $250,000
« on: June 24, 2018, 09:08:28 PM »
I just opened a new account with RobinHood this evening using a link from MMM member Epor (random pick but she seems nice).

I am funding it with $2500 and probably will do a lot of biotech and options trading, maybe even biotech options!

This is straight up casino gambling but I have been doing this in Etrade since 2001 and have managed to raise a $1700 IRA account to $93,000 over the 17 years.  This is with paying $9.95 stock trades and $1 per contract plus $9.95 option trades AND having to wait three days for trades to settle.  I think I can do a bit better and faster with the larger stake and margin account (not for margin itself but for instant settlement).  This is why the rather ambitious goal of going from $2,500 to $250,000, hopefully in a decade or less, if RobinHood stays in business.

Others are welcome to join me but I figure not many are interested in the work and risk.  I am still going to post my trades and a screenshot of my account balances and positions for anyone interested in tracking the success or failure.

Once the funds settle, I am going to be looking at Merck Jan 2019 options and Geron stock for my first trades, if the price is right.   Both stocks should move up this year on good catalysts.   Geron has a decision to be made by J&J on continuing trials for MF and MDS.   A positive decision on this continuation should propel the stock from $3.60 to about $7.  A negative decision will likely drop it to the $1.50 to $2 range.   Because of the good OS results in the trials, I think a positive decision on continuation by J&J is more likely, which makes the play a good risk/reward.   A buyout could happen and would probably be for $3B to $5B, or about $15 to $25 a share.

Merck is a slow moving giant, but the options are insanely cheap for the leverage.   Keytruda is doing extremely well and it is likely to help boost the stock to the $65 area by EOY from the current $61 area.  The options are cheap enough that this $4 move could mean a 100% gain on Jan 2019 strikes.

jlcnuke

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Re: RobinHood race from $2,500 to $250,000
« Reply #1 on: June 25, 2018, 10:26:46 AM »
Interested to see how it goes.
Delta card referral, 10k extra for both of us (60k total bonus miles for you) http://refer.amex.us/JEFFRCP8UT?XLINK=MYCP

Roland of Gilead

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Re: RobinHood race from $2,500 to $250,000
« Reply #2 on: June 30, 2018, 07:49:51 AM »
Got my RH account fully funded and made a few trades.

Currently sitting on 500 shares of Geron and my one free share of ZNGA

Somewhere around a $150 gain for the first week of trading in the $2500 account, but it was only a 2 day week.

I am impressed with the speed of the trades and the ability to get fairly close to the bid/ask you desire.  I thought it would be rather bad for something that is totally free.

I am excited for Geron over the next few weeks...could see a jump to $5 really soon, which would help out my little experiment.

Oh, and here is my robinhood link for a free share of stock when you sign up (I think I get one also, just like Epor did):
https://share.robinhood.com/richare462


Res Ipsa

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Re: RobinHood race from $2,500 to $250,000
« Reply #3 on: July 06, 2018, 06:18:47 AM »
Good luck.  I'll be following.

Roland of Gilead

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Re: RobinHood race from $2,500 to $250,000
« Reply #4 on: July 06, 2018, 07:28:41 AM »
Made a couple more trades (in/out of Merck June 2019 calls for about $60 gain and in/out/in Geron for same amount gain)

Also received 2 free stocks from people signing up, which seems like cheating on my goal but we can subtract those from the totals.  They are not stocks I would actually buy....Groupon???

Thanks for the free stocks whoever!

Currently have about a 13% gain which isn't a bad start considering it has only been a week.   60% gain for this year is the goal.


Roland of Gilead

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Re: RobinHood race from $2,500 to $250,000
« Reply #5 on: July 10, 2018, 06:13:10 PM »
A few days later, a little update.   I bought and sold Merck and Geron a few times.  Got a couple of free stocks (thanks, hope you got something good too!

Increased the account to $2916, which is a $400 gain not counting the $16 in free stocks.

$400 gain in a couple of weeks on $2500 isn't horrible...that is a 16% return.  If you annualized that (assuming you could keep up the 16% return every two weeks) it would be a yearly return of 4000% (that probably isn't going to happen...I am shooting for 60% a year which will actually give me $250,000 in 10 years...compounding rocks!)