This board is for those who want to play the "Million Dollar Phase Game" to announce and track their attempts to succeed in the investment phases toward a million dollars. There are specific rules to this game which make it a fun challenge for investors, and which make it entertaining to follow.
Here are the rules of the game:
To win, the investor must complete the number of phases necessary to reach $1,000,000 using the following rules.
Decide a beginning investment amount. $100 requires 15 "phases" to reach $1,000,000 while $1,000 requires 10 "phases" to reach $1,000,000. A "phase" is a successful trade in a stock which results in a 100% gain.
Example: Beginning with $1,000 -- a completed "phase 1" would result in a $2,000 take, a completed "phase 2" would result in a $4,000 take, a completed "phase 3" would result in a $8,000 take, etc. all the way to completed "phase 10" resulting in $1,024,000
If playing this game, the investor would carefully chose 1 stock in which to invest their entire phase amount. That investment would result in one of three possible outcomes: 1) If the stock successfully reaches a 100% gain, the player cashes out and announces completion of that phase. 2) If the stock rises, but does not reach 100% before the player decides it is wise to cash out, then the phase is not complete. The player moves the gains to their bank / investment account for other use, and then tries the same phase over again with the original amount. 3) If the stock loses money, the player quickly cashes out and then must reinvest the remaining phase money to either get back to their original phase amount, or complete the phase by a more than 100% gain.
$1,000 invested in phase 1 stock. 100% successfully reached and stock is sold for $2,000. Player announces completion of phase 1 and moves on to phase 2 where $2,000 is invested in a single stock with target of 100% gain.
$1,000 invested in phase 1 stock. Only 30% gain before player decides to sell stock for $1,300. Player announces failure of phase 1, puts $300 back into their other investing (whatever they want to do with it) and restarts phase 1 with a new $1,000 investment in a new stock to retry phase 1.
$1,000 invested in phase 1 stock. Stock value drops 20% and player sells stock for $800. Player now has $800 to invest in a new stock to gain back initial $1,000 investment, then sells and restarts phase 1, or tries to get a 150% gain all the way to $2,000 and completes phase 1.
The point of this game is not only to have fun attempting to trade successfully, but also to earn money along the way. Hopefully, by picking good stock plays, investors can even make money in "failed" attempts to complete a phase. Of course, a player may decide after completed even a few phases that the risk is too high to put so much money into a stock, so of course, part of the game includes "quitting while you're ahead", or even starting over at phase 1 to repeat the game.
Of course, all investors are 100% responsible for their own investment choices and this board or its moderators or iHub (any body else) is not responsible for "phase game" failures or financial losses if investors choose stocks that do not post gains. This game is to be played by responsible investors of their own free will and choice. Responsibility for choosing stocks is also up to individual investors-- this is not a "stock picks" board and is only meant to be a place where players can report their progress and discuss their picks.