Wednesday, May 13, 2009

I wish it were real money!

I started this fake portfolio on April 28th with $10,000 and as of today I've now more than doubled it's value! As of right now my portfolio value is $22,098! I got lucky with the stock I chose yesterday, as I bought it at $1.02 per share and sold it this morning at $1.31 (I should've sold it when it hit $1.45 but I thought it was going to keep climbing) My new practice of holding onto stocks a little bit longer seems to be the ticket, as I'm making a lot more money this way than I was when I only held onto a stock for a few minutes or an hour or two. I've heard that real day traders avoid doing any trading on a Friday before long weekend, so since this weekend is a long weekend here I think I'll take that advice. So I will choose one more stock today and hold onto it until Thursday afternoon and then take a break. If I were doing this for real I'd be pretty happy with the $7,141 in profit from this week already! I wonder how long it will take me to triple my portfolio's value now?

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