Sunday, July 17, 2011 10:13:39 PM
The Smit Dog $10K Challenge:
Okay….here it is….a challenge to myself mostly, but out in the open. Ego? Not really. I’d rather look at it as a confirmation of my ‘prowess’ in finding these plays ready to make a move…and confirmation that I shouldn’t ‘second guess’ myself when I find something with potential…which has and still does cause me some good add-on gains. In essence, I’m putting my money where my mouth is…and disclosing it to everyone…lol. In my eye’s this is more of an effort to 1. commit myself to a play 2. setting a financial objective and 3. expanding the philosophy of the board beyond pure momo-plays.
So, what’s the challenge? To take $2000 and turn it into $10K by summer’s end. Summer as defined by most of us traders…that would be Labor Day. Yikes…I got 7 weeks!
This challenge is intended for us ‘little guys’ wanting to use a small amount of funds and realize big gains. Impossible? Not really. There are multi-baggers in the markets down here in pinky-land every day. The challenge is 1. finding them before they become multi-baggers 2. trading them correctly and 3. making sure you don’t put all your eggs in one basket.
So, underpinning this challenge:
*being hyper-discerning…finding plays that are likely to move real soon and real big so the limited funds available to meet this challenge is not locked up endlessly in a dead-end laggard play.
*knowing when to take profits and redistribute funds into a new play with similar prospects
*staying away from momo. These plays will be pre-momo and ‘scalp trades’ would not be included in the group.
I will post:
*the play that I’m in the day I get in (during the trading session unless I’m not able to….i.e.- day job…lol) the number of shares purchased and at what price.
*the price I sell for with the accompanying gains or losses (please make note, I will not be posting sells on the day I sell so as to not influence the sell-side of a trade)
My commitment to a play in this group (The SD $10K Challenge) will not be less than $200 and will not exceed $1000 at the time of purchase. Again, the objective is to make big relative gains using limited funds….for myself and for anyone not ‘running with the big boys’. So, my intention is to have $300 committed approximately for most of the plays.
I’ll still be throwing a bunch of other plays up on the board as I have been doing, but these plays will have the Title: SD $10K Challenge Play so as to not confuse it with other stuff I might put out there.
GLTM (Good luck to me!
)
Okay….here it is….a challenge to myself mostly, but out in the open. Ego? Not really. I’d rather look at it as a confirmation of my ‘prowess’ in finding these plays ready to make a move…and confirmation that I shouldn’t ‘second guess’ myself when I find something with potential…which has and still does cause me some good add-on gains. In essence, I’m putting my money where my mouth is…and disclosing it to everyone…lol. In my eye’s this is more of an effort to 1. commit myself to a play 2. setting a financial objective and 3. expanding the philosophy of the board beyond pure momo-plays.
So, what’s the challenge? To take $2000 and turn it into $10K by summer’s end. Summer as defined by most of us traders…that would be Labor Day. Yikes…I got 7 weeks!
This challenge is intended for us ‘little guys’ wanting to use a small amount of funds and realize big gains. Impossible? Not really. There are multi-baggers in the markets down here in pinky-land every day. The challenge is 1. finding them before they become multi-baggers 2. trading them correctly and 3. making sure you don’t put all your eggs in one basket.
So, underpinning this challenge:
*being hyper-discerning…finding plays that are likely to move real soon and real big so the limited funds available to meet this challenge is not locked up endlessly in a dead-end laggard play.
*knowing when to take profits and redistribute funds into a new play with similar prospects
*staying away from momo. These plays will be pre-momo and ‘scalp trades’ would not be included in the group.
I will post:
*the play that I’m in the day I get in (during the trading session unless I’m not able to….i.e.- day job…lol) the number of shares purchased and at what price.
*the price I sell for with the accompanying gains or losses (please make note, I will not be posting sells on the day I sell so as to not influence the sell-side of a trade)
My commitment to a play in this group (The SD $10K Challenge) will not be less than $200 and will not exceed $1000 at the time of purchase. Again, the objective is to make big relative gains using limited funds….for myself and for anyone not ‘running with the big boys’. So, my intention is to have $300 committed approximately for most of the plays.
I’ll still be throwing a bunch of other plays up on the board as I have been doing, but these plays will have the Title: SD $10K Challenge Play so as to not confuse it with other stuff I might put out there.
GLTM (Good luck to me!
)
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