Monday, April 20, 2009

My fake portfolio April 20th

So far my fake portfolio for "day trading" is doing pretty good. I chose a new stock this morning which was priced at 2.91 and when it hit 2.99 in less than an hour I decided to sell it because the overall mood of the market today looks bleak with both the Dow and the TSX heading down over 150 points each. So I figure that making $347 today is a pretty good take, and I'm going to treat this as if it was real money and try not to be too risky. I've also decided to set up a second practice account too, with this one I will pick one stock on Monday that was the top performer for the past month, and I will hold that stock until Friday and then will sell it. I will also start this fake account at $10,000 and see how it grows. This one is probably more realistic as I doubt I would ever have what it takes to be a day trader, but if I had enough money I'd be comfortable with buying one stock per week and taking chances on that. The stock I chose was priced at 1.30 before the start of trading today, but now is down to 1.20 so it's not doing too well so far, but it's still very early in the week too.

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