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After 4 days into the portfolio challenge, I’m currently in the Top 14%. I currently have a 2.22% return on the $ 1 million. That with trading only 3 out of the 4 days. Additionally, I have won every Bonus Bucks Challenge I entered, except missing one question on the first day.
This experience has been an enlightening one. I think there definitely is some tech issues with the challenge though. How can 1 person have more than one ranking? Unless they are playing under more than one email address, but under the same name. This is evident in my last post regarding Nancy Beaumont. Other issues is that once you make a trade, you can’t see instant results throughout the day, so your trade is calculated at the end of the day. I think it’s more effective to trade before the bell, right after the bell, in the middle of the day, right before the bell closes & even after the bell. This is a strategy I wil start to implement today.
This experience gives you an inside look into what day trading is about. Also, how to invest for quick gains & in the short term. There’s a bit of long term investing here as well, because you have to be able to put vision that the long term, based on this challenge is the two months. The short term would basically equal the “week” or even every other day. This, also is my strategy. Buy for the long term - purchasing volatile stocks which have the chance to move high within 2 months, and purchase the following for the short term: 1. Failing stocks that have potential to have a quick bounce back, and 2. Volatile, high market cap, and low price share stocks.
The next few posts for our Tycoons Quest will be catered to breaking down the knowledge I have re-learned & what I need to know for investing for this challenge. There’s tons of information out there, so an additional part to my strategy would be to synthesize this information & give you a breakdown of what the blogosphere is saying.
If you want to see all the posts on Tycoons Quest, just click the category at the bottom, Tycoons Quest.
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Is anybody helping with your quest to win(share) the prize? what help do you need?
Mark, my goal is to use the blogosphere, my readers to gain insights into the strategies used. Not only will I be discussing about investing, but also, how to invest in this specific challenge & strategies that I and others are using. The ultimate goal is to at least get in the Top 1% of the group. Right now, I haven’t had any assistance, but, have been using multiple technologies & resources to get where I need to go. I’m trying to find high market capitalization and low share price stocks. Any help will be appreciated. And my opportunity as mentioned with first day of this contest still stands. Just click on Tycoons Quest - the category & you will see all the posts within that category.
Make sure that any investment system you use is free of bias. If the purveyor of an investment system has a clear interest in a specific market or industry (oil industry, telecommunications, or precious metals for example) then his recommendations may well be slanted toward his industry.