The $500 Experiment

Quote:

Originally Posted by Popcan

Gotta some questions for you. First off, what sight do you use that has $5 trades. I'm at scottrade right now. Secondly, what percentage will each of your gains be taxed at (35% or more?). I like your thinking, but I was curious as to how that would all work.

Thanks,

Popcan

first of all, i'm SHOCKED at how many replies there are all of a sudden- and on new year's weekend! LOL great!
Popcan- i use lowtrades.com, $5 per trade. no minimum to open. taxes- ??- first i'll make the money then figure it out LOL.
also shocked at how many traders are climbing in! alright! this is gonna be great! welcome everybody!! somebody asked will i be posting my trades- uh, no- we'll just have to trust each other on that i think. posting the trade in advance will invalidate the model because it will pump the stock. (actually i'm even more worried it will cause the mm's to mess with it). so i'll probably mostly post only on exit. you do as you like.

would be good to have a simple format to be able to see at a glance how everybody's doing- maybe like this?--- (followed by comments)
start balance $500
last trade $350 WXXX at .0500, exit .0700
new balance $640
or something like that. whatever works for you, followed by any comments. just a suggestion.

thanks all great comments, klip, aufan, popcan, twinkle, fatbacker, newbie (i have $5 per trade acct, newb), proc, scm, grizz- this is gonna be fun!!