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Saturday, January 23, 2010 7:08:09 PM
Some time when you have the money to pay for an education, Try practicing flipping a stock like FRE/CRBC/FSNM everyday for 2%.
After 911, that's all I did for awhile.
You might think you'll never get it. But when you move to a stock with 5 or 10% deviation it's, WOW this is a piece of cake.
Of course these days you can use a real time simulater and not loose any money.
If you look at FRE in Dec , you'll see a lot of daily bounces for 10% with patches of tight and narrow declines and up swings. Last week FRE went into a tight and narrow decline and then Fri it had a big drop . That's a good sign it'll start it's 10% a day deviation again. I'm looking at it as the time to buy. But I'm going to flip it.
When I see that tight and narrow up swing, that's when I buy and hold.
I keep trying to ride CRBC and FSNM but that instinct that I acquired while flipping for 2% keeps telling me in/out in/out.
FRE will start the 10% deviation again. Find a simulater and try flipping it for 5% a day. It may not seem like a lot, but your acct will keep going up and up and up. plus you get that instinct of when to buy and sell from constantly watching the patterns.
Once your confidence is built up, try doing it with 10k a day. You will have those days when you get a nice 10%.
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