I had been watching this stock, geez cant even remember the ticker but it was a nasdaq stock (this was in 2002). Anyways, it had been in a range from 1.00-1.04 for like 2 weeks and then, around 3:57 one day it printed 1.05, then 1.06 then 1.07 and i was like "oh shit, something is up so i bought 9,000 shares at 1.08/1.09. Woke up the next day, it was trading at around 1.25, sold it the following day at 1.51 for about a 4k profit. I am sure i had a few other small trades prior where i netted a 100 or so but this was my first real decent size trade.
1st Trading Profit
- Thread starter drobin
- Start date
In the bubble days, one I my stocks rose 30%...I opened up my platform the next day..and discovered it....I had about 20 issues held overnight...
I did not understand what happened when I read the quote board...I had to look at it for several minutes....then i called my broker....SELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
In the news, the commentator remarked those lucky suckers who held that stock received a healthy increase today...This was a memorable profit, but not my first...I think my first was Seagate and Sony or something like that...Stanley works was another.....
Folks...Pigs could fly!
I did not understand what happened when I read the quote board...I had to look at it for several minutes....then i called my broker....SELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
In the news, the commentator remarked those lucky suckers who held that stock received a healthy increase today...This was a memorable profit, but not my first...I think my first was Seagate and Sony or something like that...Stanley works was another.....
Folks...Pigs could fly!
my first winner i have no clue, probably some long call option in the 90s.
my first real winner: RMBS in mid 2000 was going up up up during that time. some day afterhours i saw one stock i didn't know 9RMBS) moving up from below, or low 100s to 110, 120 etc. i shorted 100 shares at 115 or so, it continued moving up. because my brokers riskmanagement counted today's closing price for risk management purposes, i had an immediate profit for my margin. so i could short more. when stock moved up to 130, i was down 1500, but i shorted more and i shorted even more untill 140 (the all time high i believe). in short, i went crazy. i had 800 shares short appr. at $138 and i would have shorted more, but broker didn't allow it anymore.
fortunately it went down next day premarket to about 125, and after the opening to about 115. i made about $8000 on that trade, i more than doubled my account
my first real winner: RMBS in mid 2000 was going up up up during that time. some day afterhours i saw one stock i didn't know 9RMBS) moving up from below, or low 100s to 110, 120 etc. i shorted 100 shares at 115 or so, it continued moving up. because my brokers riskmanagement counted today's closing price for risk management purposes, i had an immediate profit for my margin. so i could short more. when stock moved up to 130, i was down 1500, but i shorted more and i shorted even more untill 140 (the all time high i believe). in short, i went crazy. i had 800 shares short appr. at $138 and i would have shorted more, but broker didn't allow it anymore.
fortunately it went down next day premarket to about 125, and after the opening to about 115. i made about $8000 on that trade, i more than doubled my account
MTLK, bought around 31, got out 36 3/4 a week later. I had smth like 27 shares.
First trade i was itching to make was buying Chemical Bank stock, back in 1994, but didnt have the dough. It was a fine bank, was later bought up by Chase Manhattan, and was selling at a ridiculous P/E of 4. The rumor was that some hedge fund manager was about to blow up and was long bank stocks. We know now it was Jim Cramer.
Next year, 1995, i opened the account to buy some Telefonos Mexicanos at the hight of the mexican crisis. It went down some more, but eventually made some 20% profit by the spring.
Incidentally, i am proud to be of the generation that started out having to trade through telephone. I would look through the WSJ to find stocks with low P/Es. Only a couple years later a friend of mine told me you could look up quotes on yahoo intraday, and even charts. By then the discount brokers appeared who had a website (!).
Next year, 1995, i opened the account to buy some Telefonos Mexicanos at the hight of the mexican crisis. It went down some more, but eventually made some 20% profit by the spring.
Incidentally, i am proud to be of the generation that started out having to trade through telephone. I would look through the WSJ to find stocks with low P/Es. Only a couple years later a friend of mine told me you could look up quotes on yahoo intraday, and even charts. By then the discount brokers appeared who had a website (!).
My very first trade: I bought ELN around $20.26 and sold it around $20.52 sometime in spring 2004. I bought it because some guy I knew made a lot of money on it.
I didn't know what margin was, so I bought an odd lot valued at just under $2000. The trade went up and then back down, and I lost something like $8. But I held it, and the next day it went up.
I was so excited I made money.
Incidentally, the guy who made $ on that stock lost 50% of his retirement portfolio when the thing tanked and collapsed earlier this year. I told the guy to get out and wait for it to get out of its trading range, since he could make money elsewhere. However, he didn't listen.
I guess I was good at "cutting losses" because I read "Market Wizards" -- except, I didn't know when to cut losses intelligently. I arbitrarily chose 5% because that's what some guy in that book said. He was some CANSLIM guy.
Haha. How little I knew.
I didn't know what margin was, so I bought an odd lot valued at just under $2000. The trade went up and then back down, and I lost something like $8. But I held it, and the next day it went up.
I was so excited I made money.
Incidentally, the guy who made $ on that stock lost 50% of his retirement portfolio when the thing tanked and collapsed earlier this year. I told the guy to get out and wait for it to get out of its trading range, since he could make money elsewhere. However, he didn't listen.
I guess I was good at "cutting losses" because I read "Market Wizards" -- except, I didn't know when to cut losses intelligently. I arbitrarily chose 5% because that's what some guy in that book said. He was some CANSLIM guy.
Haha. How little I knew.