A 70k bet that I can't make a 50% gain in 2009

Quote from tradersboredom:

your friend is an amateur.

if he had given that $70,000 to a professional trader that professional trader would have made him $700,000 profit in two years.


We are both amateurs, that's what makes the bet. Most of his investments are in mutual funds and indexes. I told him I bet I could beat the best return he ever got in a one year span (being an amateur,beating his mutual fund "pros")
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1/06/09 :

Only a few short set ups on daily charts, none very promising. The best short set up on daily charts is DELL.
I will be looking to intraday trade again on TUES. Focusing once again on the 5 min charts. Alot of daily charts look bullish if we can get a minor pullback on them in the next 2-3 days to take some swing longs.
 
1/06/09 trades:

1/6/2009 10:47:24 AM ET DXD BUY 400 DXD @ $50.72 Completed Executed
1/6/2009 11:07:04 AM ET DXD SELL 400 DXD @ $51.24
Completed Executed
+194

Total +194
 
With a freind like that who needs enemies :) he certainly got the better half of the bet but probably wanted to end your bragging about your trading once and for all :D
 
Quote from Mvic:

With a freind like that who needs enemies :) he certainly got the better half of the bet but probably wanted to end your bragging about your trading once and for all :D
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I think you are 100% correct that he did not want to hear anymore that it"s possible to consistently take money out of the market- So he said, in so many words..." Put up or shut up"
 
1/07/09

Looking to short the indexes VERY early unless they gap too far down, if so willl look for a small rally to short. Also looking at a few stocks (RIMM SNDK) to scalp short. If we get a rally for the 1st 20-30 minutes I will look to get into a short around 10am on the first reversals. Overall most indexes, stocks looking pretty bully on daily charts.
 
Quote from talknet:

I would say 50% profit is easy from forex because of "major world events" which lead to major price fluctuations in international currencies.

My Forex broker/manager based in Switzerland has already paid profit of +155% for year 2008 from conservative risk structure of maximum risk of 5% per new trade.

I have researched some other forex brokers/traders and they have also paid profit of 100% - 200%+ for year 2008. But I think these traders have high-risk trading.
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Sounds like a ponzi scheme!
 
1/07/09 Trades:

9:59 500 SDS BUY 67.66 10:50 800 QID BUY 53.72
STOP 67.26 STOP 53.47
TGT 68.46 TGT 54.22
10:25 500 SDS EXIT 68.45 11:03 800 QID EXIT 53.47
P/L +381.08 P/L -215.20


11:42 550 AAPL BUY 91.55 12:18 650 RIMM BUY 47.60
STOP 91.20 STOP 47.30
TGT 92.25 TGT 48.20
12:42 550 AAPL EXIT 92.22 12:59 650 RIMM EXIT 47.30
P/L +354.30 P/L - 214.81

14:19 800 QID BUY 54.22
STOP 53.97
TGT 54.72
14:35 800 QID EXIT 54.68
P/L +355.04


1/07/09 TOTAL P/L: +660.41
 
1/08/09:

Looks like we are going to get some pullback in the indexes, but are still in a short term uptrend. If we hold in the AM I will look to some stocks w/ bullish daily charts to possibly buy: GILD GRMN JRCC. Otherwise I will look to the gap list for any opening plays and then look for weak stocks to short if we get a 9:30-10:00 rally. Or strong stocks to buy if we get a SMALL move down after the open. If we start to freefall I will look to get into an index short but only take it for a small scalp and then look later in the day for an entry (to buy) on any strong stocks for Fri.

Best case: We move down 1-2 pts on the SPY and then load up on some long plays Friday.

But, if we lived in a perfect world then..................
 
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