Stock Market Shenanigans

Godliberator said:
good point, but that gamble drives me.....like I said, I am done for the weekend, lets see how my gamble pays off come monday.
Click to expand...

You'll do pretty good. However, once it rises, even a bit, sell it. Stocks like those fluctuate 5-10 times a day

Also... MFW I'm teaching a married man about penny stocks at 14...
 
Come one, come all. Challenge me. Claim my throne if you dare.

Untitled.png
 
Stratadon said:
Bring it on. I am gonna devote more time to this contest. Just took a hard 800% hit on my serious one so I am kinda done there for a bit while I recuperate.
Click to expand...

Ah. I guessed you got a lucky break xD If I beat an Economics Major... Do I get a prize? :D
 
Downed_Foes said:
Ah. I guessed you got a lucky break xD If I beat an Economics Major... Do I get a prize? :D
Click to expand...

In the end, we are bidding on extraordinarily high risk stocks, but that doesn't mean it is all luck. You have to learn how to read charts and find a way to get second to second quotes on penny stocks. Many of them are not available for free online, so you have to torrent software that includes the pennies. I am in class for most of the day, so it is difficult for me to play the penny stocks at the moment, but I have tuesdays and fridays off, so I will play quite hard on those days. On any given day, there are around 5-10 'hot' penny stocks which can break 100% gains, and some even as high as 500-1000%. Just two days ago, a penny stock I follow raised 1800% in a single day. Unfortunately, I was in class and unable to catch it at the beginning of the day, so I did not benefit. If you play these stocks, there is a good chance for huge pay outs, but if you do not know how to read charts to know when to sell and when to stay on board, then you can lose money VERY quickly, like I did in my other contest. I sometimes get lazy and miss out on key opportunities. In the end, understand that it is a game. I don't have time to sit on my computer all day long to follow the stocks. The people who do that are professional stock brokers who earn their livings through the stock market. Just know that for every person who wins in the actual stock market, there is a person who gets fucked and loses an equal amount of money. The stock market game is a fun scenario, but it is NOTHING like the real deal.

Also, the website we are using for the contest is majorly flawed, because it only allows you to buy 1,000,000 of any stock at a time. When dealing with penny stocks worth a fraction of a penny, it is impossible to keep up with the stocks second by second, because you have to trade for 1,000,000 stocks 20 times to even use up half of your available money.

For this reason, many of the hot stocks I am used to playing on other websites I can't play effectively or safely on this one, making it more difficult for me to make monster profits like I usually do.
 
Stratadon said:


In the end, we are bidding on extraordinarily high risk stocks, but that doesn't mean it is all luck. You have to learn how to read charts and find a way to get second to second quotes on penny stocks. Many of them are not available for free online, so you have to torrent software that includes the pennies. I am in class for most of the day, so it is difficult for me to play the penny stocks at the moment, but I have tuesdays and fridays off, so I will play quite hard on those days. On any given day, there are around 5-10 'hot' penny stocks which can break 100% gains, and some even as high as 500-1000%. Just two days ago, a penny stock I follow raised 1800% in a single day. Unfortunately, I was in class and unable to catch it at the beginning of the day, so I did not benefit. If you play these stocks, there is a good chance for huge pay outs, but if you do not know how to read charts to know when to sell and when to stay on board, then you can lose money VERY quickly, like I did in my other contest. I sometimes get lazy and miss out on key opportunities. In the end, understand that it is a game. I don't have time to sit on my computer all day long to follow the stocks. The people who do that are professional stock brokers who earn their livings through the stock market. Just know that for every person who wins in the actual stock market, there is a person who gets fucked and loses an equal amount of money. The stock market game is a fun scenario, but it is NOTHING like the real deal.

Also, the website we are using for the contest is majorly flawed, because it only allows you to buy 1,000,000 of any stock at a time. When dealing with penny stocks worth a fraction of a penny, it is impossible to keep up with the stocks second by second, because you have to trade for 1,000,000 stocks 20 times to even use up half of your available money.

For this reason, many of the hot stocks I am used to playing on other websites I can't play effectively or safely on this one, making it more difficult for me to make monster profits like I usually do.
Click to expand...

Wow... That went into a lot more detail than I was expecting :P Personally, I just look for patterns. I see an almost identical rise that happened in 2012 on a stock, that got me all of my income. I know basic patterns, like after a drop, more than likely a rise, etc. I have 3-4 hours after school to do whatever, so I have a lot of time on my hands.
 
Stratadon said:

Also, the website we are using for the contest is majorly flawed, because it only allows you to buy 1,000,000 of any stock at a time. When dealing with penny stocks worth a fraction of a penny, it is impossible to keep up with the stocks second by second, because you have to trade for 1,000,000 stocks 20 times to even use up half of your available money.
Click to expand...

This is a large reason why I have taken a large loss....all from commissions.

and just curious, what software would you recommend for tracking stocks?
 
Godliberator said:
This is a large reason why I have taken a large loss....all from commissions.

and just curious, what software would you recommend for tracking stocks?
Click to expand...

Well, I use software for macs. I doubt you would find them useful. Honestly there are tons of them for pc, just search around google, but most cost money, so I suggest getting them illegally to just use them for the game. I'll look around as well and let you know if I find any torrents.
 
It's true that penny stocks in the game are nothing like the real thing with real money. You'll be paying taxes left and right for starters, and in many cases you aren't able to sell them at the high price because there's just no activity going on. You gotta check the volumes man.

I stick to whatever the "Oracle of Omaha" has to say about long-term investing... and whoever actually made it big IRL.

And yeah, its just a game. A dry run before I do the real thing.

Now quitting on stocks probably means your bacon and beans lie in real estate, bonds or the lotto.

What else? I've learnt that I'm irrational when it comes to long-term investing. I really shouldn't be checking the website several times everyday if I already know it's gonna go up much later in the future. Better to sleep soundly.
 
You must log in or register to reply here.
Back
Top