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Rank: Newbie
Joined: 10/27/2008
Posts: 3
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netbacker wrote:fred wrote:
Can i ask which broker you have is and if you do know an broker where you can have a demo account?
Because i want to try it, but first on demo or like you said with small dollars
regards
As for demo account, you could try www.thinkorswim.com. But if you are new to trading, I suggest you stay away from that platform, as I feel its too complicated for a beginner. If you want to play along and have fun trading, here's 3 sites that I have used in the past. http://www.wallstreetsurvivor.com http://vse.marketwatch.com www.howthemarketworks.com Most of these sites may not have accurate quotes, so your wins and losses may not reflect the actual. But its a good way to start getting your feet wet. There are many more, search on Google for Virtual Stock Exchange. You get hundreds of hits. -netbacker Thank you netbacker :) I see thinkforswim is not using etf, i am looking for some broker where i can train etf demo or with little dollars. Thanks for your help sorry stockman for hijacking your thread, but i want certainly try your idea
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Rank: Advanced Member
Joined: 6/22/2008
Posts: 51
Location: Santa Clara
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fred wrote:
Thank you netbacker :)
I see thinkforswim is not using etf, i am looking for some broker where i can train etf demo or with little dollars.
How do you say that? I mean TOS does everything thats out there, including Forex trading. I have been using TOS to paper trade Option strategies on ETFs and other indexes. Yeah, we should probably start a new thread if this discussion goes longer. -netbacker
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Rank: Advanced Member
Joined: 6/15/2008
Posts: 240
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We are in a trading range since 10/10 when we hit 7800 and bounced off the bottom and since then, we went to 9400 on 10/14 and bounced off the top. At 9000 today, we should be near the top of the trading range as we approach 9500. The highs have been lower each time so we may get a sell on the news of the interest cut tomorrow with the market going down. If the Fed cuts by more than half a percent, we may rally again You will have a chance to buy your longs when we approach the bottom of the channel and rally up. In the meantime, look at srs , ultra short real estate, which went down 33% today. After a huge loss, it is still the number one etf of 819 in the market at 64% up for the month. I have owned this for a month until I sold this morning and when I see the market start to trade down the channel, I will buy again. Since the market is so volatile, I buy a small amount and if the market keeps going lower, I buy more. This is a way for you to make money on the way down as well as today's shock at seeing the rally size. If you don't want an ultra which means it moves double up or down the underlying stocks like srs which is a double, smn, short commodities has been a steady performer for me. If you are new to bear etf's, don't buy ultra's because you can lose a lot of money fast. Bear rallies have been short in duration lately while down markets days have been many and that's why I say to all of you again, the market is going lower and you can make more money going down than short bursts of going up like today.
I could be wrong about the channel continuing and we may rally for days or weeks so do not buy until you see the market going down with momentum. This is a judgment call on momentum and if the market turns and you're wrong, sell before you lose too much. Buy small so you lose small. You gain small and then add a little more to the first purchase if the market keeps going down. Your gains get bigger as you buy more and the market continues lower. As Zigzagman said to paraphrase him, if we go above 9500, there's little resistance until 10,882. Wait for the rally to end or you will lose money.
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Rank: Advanced Member
Joined: 10/29/2008
Posts: 60
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personally hold bunch of ultra shorts. i think tomorrow will be a great day for them. suspect that ultra shorts go down reach support levels then bounce back up.
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Rank: Newbie
Joined: 10/29/2008
Posts: 1
Location: Buenos Aires
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I fully agree. We headed to the 6500's dow. The bankruptcies of companies not yet started.
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Rank: Advanced Member
Joined: 6/15/2008
Posts: 240
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Last night I wrote that we were near the top of the current trading range and that I would buy SRS and SMN as we approached and bounced off the top. At 3:48, we were at 9363 and at 4:00, we had dropped to 8890 which is close to a 500 point drop before we climbed a little higher.. I also told you last night that the last top was 9400 before we bounced off. I believe that technical traders and that is loosely defined as people who make market decisions based on charts and historical trends, started selling and shorting stocks at the end of the day. Fast Money started their show tonight stating that the GE CEO Jeff Immelt that he aims for flat 2009 earnings and that caused the rapid decline. Stockman has the nerve to tell you that I think they were wrong and my prediction came true from last night. I don't claim to be a genius here, I just looked at the market movement like thousands of other people did who saw the same thing.
If you read my comments for this week, you will see that I sold most of my bear etf's on Monday night as the market went down 200 points at the end of the day. I sold the rest on Tuesday morning because I told you that the Fed meeting would cause a rally. The rally turned out to be the second biggest rally in history. I watched all my favorite bear etf's go down in price after I sold and I must admit that I took great joy in seeing that we were heading for the top of the trading channel as the prices I planned to buy again went lower. So at the end of the day today, I bought small amounts of SRS and SMN and I made a little money on the 500 point drop. If you want to know why these two, read last nights comments. Now you are probably thinking I was just lucky that this week turned out like this. To show you what a fool I am, I am going to predict that barring a new government program or some unexpected news:
We will be lower by Friday night and it might even happen by Thursday night.
As I explained to all of you before, if the market goes lower, I buy more etf's on top of my small buys to make larger and larger gains and if I am wrong, I sell my small initial buy when the loss becomes too large for me to accept. I wait for confirmation in either direction so mother market doesn't take much of my money on a bad call, but if I'm right, I am very greedy and want larger and bigger amounts of money. I want to make more money faster and I like to share my ideas to help others do the same. Your Godfather may need a favor from you sometime in the future. There are more down days than up days so you have the opportunity to make money more often. Any one know how many up days there have been in October? The answer is very few. Does anyone know how many down days there have been in October? The answer is almost every day. Does anyone not agree with me that you can make money with any bear etf in this market?
Tomorrow, the market will probably go higher and if it goes above 9500 and keeps going higher, it means that we broke out of the channel and will probably go above 10,000. It shows I was wrong, but if you see it bounce off the 9500 and go down, you should be ready to buy a small amount of a bear etf knowing that you could lose 10 to 15% of your money if the market reverses before you sell. Tune in tomorrow night for my sorry I was wrong or boy, I had no idea how much the market would go down. Even if we go above 10,000, I am telling all of you that when the rally ends next week or next month, we will go lower.
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Rank: Advanced Member
Joined: 10/29/2008
Posts: 60
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stock I like right now is fxp. stop loss @77. could see 100% return if market goes down.
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Rank: Advanced Member
Joined: 6/15/2008
Posts: 240
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j0sh1ngU:
Completely agree. See also EEV and SSG. If you could get today's loss, you would have a great day making money.
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Rank: Advanced Member
Joined: 6/15/2008
Posts: 240
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We just bounced off 9423 which is the top of the trading channel we've been in and we are heading lower. We'll see if the day stays lower.
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Rank: Newbie
Joined: 7/30/2008
Posts: 3
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Do you think that the markets may be flat going into Tuesday and then go higher once the election is over? And when I say higher, I mean a post election bounce before heading lower.
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