The last couple ofversions of this have floundered due to lack of interest, and the mutedresponse when I suggested running this again indicates I might be flogging adead horse.
Anyway, the concept ofa “5 Grander” is trading a portfolio which has a starting balance of $5,000. It’snot a competition, more a challenge for those involved, and a way for newtraders and smaller players to gain some insights and knowledge into being ableto do Short Term trades on a budget, or smaller capital base.
Again, it's not acompetition to see who can make the most money by the end of the year, but moreabout sharing with others our trading strategies, and how we deal with ouremotions and the whole psychology of this dastardly game that we love playing.Maybe a summary of why you have bought or sold a stock when you did, yourapproach to risk management, and whether you used technical or fundamentalanalysis when arriving at your decision would be helpful.
If you look atsuccessful traders, there is an infinite number of strategies out there, butthey all have one thing in common ... they manage their losses. If you purchasea new little lovely, and it has a couple of bad days, and you're in the red, itcan be awfully hard to swallow. At what point do you press the sell button?Again, if I have an awesome stock up my sleeve, it makes it easier to swallowmy pride, press the sell button, and rotate into the next stock.
Anyone can set up a 5grander, either as a virtual thing, or, for real, no competition, no prizes,except for maybe acquiring more knowledge. For transparency purposes buys orsells should be notified on the forum by the end of that day, and for brokeragemaybe we just use $10 cost for any buys and sells.
All enquiries arewelcome. We’re off to the races, and don’t forget your Traders Manual.
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