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http://pipsmaker.blogspo
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h-nizzle | How does my stock trading plan sound to you? |
I have $30,000 that I would like to invest in. I figure out at any given time, I will own 3 stocks ($10,000 invested in each stock), and then sell it off when it goes up at least 1%....that would be $100 per stock, $300 total. And then buy another stock, sell it after a gain of 1% or more, and just continue. Once I'm up to $40,000, then I'll own 4 stocks, and continue adding the number of stocks I own with every $10,000 I gain.
1% is not that much to ask for, is it? If I can make $300 a day, or $300 a week, that would be great extra income.
Additional Details
i'm tired of people always talking about commissions when i discuss stocks....i use scottrade, and it's $7 a trade.......if you're using a broker that charges you $25 a trade, you're getting ripped off |
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Yarcofin
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1% of $10,000 is only $100. Stock commissions are typically $25 to buy and $25 to sell. So really you are only making $50 from each successful trade.
Here is a plan that I tend to use, I also have around $30,000 right now.
- Put $4,000 to $5,000 in each stock after analyzing the charts and deciding it is at a low point.
- Hold the stock until it gets towards a previous high, or whenever you have a big gain and start to feel uncomfortable about holding it.
This way you will always have 5 or 6 different stocks so even if some are having a rough week, the other ones could still be going up.
I made the mistake of not diversifying enough. I was sure I could make more money much quicker by investing tons into one company, now I have nearly 1/3rd of my investment money tied up in one stock that is down $4,000+ on me! Don't make the same mistake... I kept buying more at a lower price, trying to dollar-cost average and it messed me up bigtime. Now I own 2,260 shares of a stock that has been going nowhere for the past 4 months. |
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fwrighter
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What would you do if the stock you bought drops 4-6 percent in 1 day? |
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J
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I assume that $30,000 is a large portion of what you have to invest. Investing is 3 stocks is very risky. Your plan works only if all your stocks go up. You also are expecting them to go up 1% a day or week. That is either 365% or 52% a year - not very likely. 10% a year is consider very good. You sound like you are very inexperienced and should be very careful or you will lose most of it.
All that buying and selling will likely eat up your profits with commissions. For $30,000 you could buy a well diversified portfolio of index mutual funds that are low cost. If you need the extra income invest in a bond mutual fund or money market fund. Look at Vanguard, Fidelity or T.Rowe Price. |
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Tania S
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Its a plan! But stocks go down just as easily as they go up and that increase margin you are predicting is pretty optimistic.
The bottom line is do your research on whoever you invest in then when you have done researching, do a little more research just in case. The stock market is a gamble any day of the week so do you home work and the best of luck. |
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Shake'n'bake
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The odds of your plan working are absolutely zero. Even if you do all the necessary research, and buy great stocks, your plan is simply flawed from the start. It has no chance.
Your plan is almost custom designed to lose money |
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Common Sense
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Read;
"Mastering The Trade" by John Carter
"The Disiplined Trader", by Mark Douglas
BTW: There is no way your plan can work consistantly. Picking 50 - 60% correct stocks is what many successful traders try for. The real money is in "Money Management".
READ READ READ.......................
If you follow your simple plan....... you're going to get burned!
Consider yourself warned!
BTW: Many of the answers are not even close to a solid plan. |
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Thin Kaboudit
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You seem to have forgotten that it isn't free to buy or sell stocks, you will pay a commission for each purchase or sale.
You also seem to think you have the ongoing ability only to pick stocks that will rise at least 1% with a short period of time. You don't.
Buy a nice mutual fund instead... |
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bud68
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Its a great plan as long as every stock you pick goes up - that is unlikely. |
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Andy2
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I'd stick to ETFs if I was you ... get a feel for the game for a year or two. If you try this with single stocks you're gonna lose your money :( |
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kevin h
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There aren't a whole lot of stocks that go up 1% a day, or even in a week for that matter. If there were, nobody would be working, just investing. Some stocks take months to increase 1%. Also, for each stock you invest in, it takes about 3 hours a day of research on average. So, 4 stocks is 12 hours a day. That's more than an average full time job. I would suggest that you get 5 stable but growing stocks or mutual funds, invest the initial $30,000 into them, and continue to make monthly deposits to invest more. Also, if you have a 401k plan, invest in that as well. |
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Mr. Prefect
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Your 1% could be your commission both ways, meaning you'd end up at zero.
Now is the time where the markets are down to take a small stand. The financials are way down. Brokerages are down. Housing is down. Eventually all will again rise, but it could be a few years. Suppose you bought a few hundred shares of something, and sat with it a few years. You'd look back on it as a great investment. You'll be the hero, but not right away. |
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Greg M
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That's trading, thats how we make all of our money. But try intra day trading rather than the closing prices, you make alot more money |
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