***New feature: Paper Trading 101 & The $1 Million Dollar Fictional "Long Only" Portfolio***
My personal rules of engagement >>>
*Commission for all trades will be assumed as a flat $10 (due to simplicity) regardless of share size or exchange.
*The portfolio will be used as a gauge to gain insight into my thoughts & opinions on certain factions of the market. And at the same time, is to not be construed as a means of financial advice for I am not a financial advisor, I only play one on this message board ;) and I'm sure those who read & correspond with me are fully competent & independent in their thoughts!
*Actual share sizes will be used within reason & pinned against the stocks average volume as well as block sizes for legitimacy.
*The account shall be updated in its entirety with cash & and stock balances once a week (or when time permits).
*The "Paper Trading 101 $1 Million Dollar Fictional Portfolio" will consist strictly of stocks or anything which trades on the market under a 'stock symbol', but here's the kicker, it will be only "long positions," in other words no shorts will be allowed, because I would like to keep this simple, so margin will not be used!!! What a kicker, eh? For someone so bearish, I will attempt to beat the market like a ball with a Louisville Slugger, but I won't have the Louisville Slugger to use, and that Louisville Slugger is the equivalent of margin & going short!!!
*Cash will settle immediate into the ficticious account after the sale of any positions.
*Positions could be closed immediately after opening, and open for as long as eternity, although most "trades" are likely to be short-term in nature, or perhaps extremely short-term, we shall see?
*All posted percentage gains (or losses) on closed gains (or losses) will not take out the commission costs that were involved (due to the simplicity factor of this operation).
*And last but not least, I make the rules, for the fictional portfolio is designed to illustrate my thoughts, and being that it will be posted publicly, it open both to scrutiny, comments, constructive criticism, praise, question, etc. I am a very open person on my opinion, thus I have decided to do this regarding the markets.
*If I missed something here, it shall be added later.
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>>>The following is what an account summary on the "Paper Trading 101 $1 Million Dollar Fictional Portfolio" might look like in a very shortened & simply context (may edit in the future, this is just to get the idea):
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Account Created: 05.17.2005
Starting Balance: $1,000,000
Current Date: 05.18.2005
Current Cash: $600,000
Total Open Positions: $420,000
Current Balance (cash + open positions): $1,020,000
Open Positions>>>
05.17.2005 - Bought 2000 QWERT @ $50 / 05.18.2005 2000 QWERT @ $55.00 = $110,000
05.17.2005 - Bought 1000 LMNOP @ $100 / 05.18.2005 2000 LMNOP @ $110 = $110,000
05.17.2005 - Bought 1000 ASDFG @ $200 / 05.18.2005 2000 ASDFG @ $200 = $200,000
Previously Closed Positions>>>
05.18.2005 - Sold 1000 MMMMM @ $100.54 from long @ $100 = (+.54%)/+$520
05.17.2005 - Sold 1000 TTTTT @ $99.50 from long @ $100 = (-.50%)/-$520
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In the future, it's possible that changes will happen... I'll see how this goes & how I feel...
Always open for public comments, scrutiny, opinions, etc... have at it !!! ;)
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