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Old 01-29-2019, 11:02 AM
Fermion Fermion is offline
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I guess I don't see that as a lot of money. About what my younger daughter made working part time over the summer. So your other career must be paying for the lift tickets.

Good luck with it.
The Robinhood account is an experiment to see how far someone could push $2500 by doing commission free trades.

This is what I did in my "other" trading account in 2018:
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Old 01-29-2019, 11:42 AM
PalmettoTree PalmettoTree is online now
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Quote:
Originally Posted by Fermion View Post
The Robinhood account is an experiment to see how far someone could push $2500 by doing commission free trades.

This is what I did in my "other" trading account in 2018:
I agree if you are a trader then commissions are a critical factor. I do not know about Robinhood but for even that to be effective there must be no hold or delay on reinvesting. It seems there must not be else someone would be complaining.

I am just not a trader. Even as much as I like messing with numbers I know the big boys can dominate any logic or illogic over a shot period.

For those that are making money hats off.
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Old 01-29-2019, 12:53 PM
InOmaha InOmaha is online now
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Sometimes I wish I could try more frequent trading, then I remember that style is not for me. It's mainly habit formed by SEC restrictions and a lack of need because of my other opportunities. I'll have to stick with slow movements, long term holdings, and partial ownership in company investments.

Everyone has a path to their goals, I'll meet you there.

I will pass this on to someone else I know to see if they might be interested.
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Old 01-30-2019, 03:54 PM
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How do you 'day traders' not get audited every year? If you start with $30,000 and make 200 trades a year on it, you've generated close to $6 million, showing on your capital gains/losses form.
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Old 01-30-2019, 06:14 PM
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Originally Posted by albertjohnson View Post
How do you 'day traders' not get audited every year? If you start with $30,000 and make 200 trades a year on it, you've generated close to $6 million, showing on your capital gains/losses form.
Probably because the IRS doesn't want to wade through the 30 pages of Schedule C I send them with hundreds of trades just to discover that I actually overpaid my taxes by $0.32
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Old 05-06-2019, 08:30 PM
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Hit a milestone today! From the initial $2500 investment in this "experiment" last June 2018, I have now hit $7558, a 202% gain, a triple in less than one year. I think I might be able to hit $10,000 before end of 2019, which puts me way ahead of schedule for turning this $2500 into a quarter million.

Fun fun. Better than betting on Maximum Security!
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Old 05-06-2019, 08:56 PM
Cat wrangler Cat wrangler is offline
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Ok, between you and ds, I may have to try it. Not going to be $2500.00, more likely $100.00. Still, nothing ventured, nothing gained. Congrats on your investing.
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Old 05-06-2019, 09:03 PM
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Originally Posted by Cat wrangler View Post
Ok, between you and ds, I may have to try it. Not going to be $2500.00, more likely $100.00. Still, nothing ventured, nothing gained. Congrats on your investing.
I mean since trades are free, why not? You could turn the $100 into $200, then $300, $500, $1000, the sky is the limit. (could also turn it into $0 if you are not careful)
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Old 05-07-2019, 01:56 PM
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Quote:
Originally Posted by Fermion View Post
Hit a milestone today! From the initial $2500 investment in this "experiment" last June 2018, I have now hit $7558, a 202% gain, a triple in less than one year. I think I might be able to hit $10,000 before end of 2019, which puts me way ahead of schedule for turning this $2500 into a quarter million.

Fun fun. Better than betting on Maximum Security!
For the sake of posterity, I think it would be interesting to see your justification for choosing certain securities, as well as your buy and sell decisions.
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Old 05-07-2019, 05:15 PM
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Originally Posted by spameggsbaconandspam View Post
For the sake of posterity, I think it would be interesting to see your justification for choosing certain securities, as well as your buy and sell decisions.
I think I sometimes do the cigar butt investing that Buffett always liked (but didn't scale well when he got ultra big).

He said if you can find a discarded cigar butt on the street and get a puff out of it before it goes out, you essentially have great profit because your cost is low.

So I look around for cigar butts. In biotech there have been many, since the mainstream has discarded them because of public perception. Merck was a great buy in the $60s because they were knocking it out of the park with Keytruda cancer drug studies and yet getting no respect from the market. Right now I have been dipping in a little Gilead again because they were tossed to the street on NASH failure which ignores the fact that they have a strong pipeline and promising CAR-T therapy platform.
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Old 05-08-2019, 07:30 AM
RobertSWMissouri RobertSWMissouri is online now
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Can you provide a very brief synopsis of how you learned day trading, with resources ? "Day trading 101 for dummies" type info ?
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Old 05-08-2019, 09:51 PM
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Thanks for posting on your experiences with Robinhood. I've been interested in trading like this for a while, but minimum balances, fees, and lack of confidence kept me on the sidelines. This broker may allow me to get into the game.
Some extra income via a more passive means is attractive since I work from home and have time in my day to do something like this.

Bonus payout for me at work is toward the end of summer. I'm going to see if I can peel $1000-1500 into a trading account to get started.

Thanks!
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Old 05-09-2019, 08:18 AM
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Originally Posted by RobertSWMissouri View Post
Can you provide a very brief synopsis of how you learned day trading, with resources ? "Day trading 101 for dummies" type info ?
I don't exactly try to day trade. Sometimes I do execute a buy, sell, and re buy in the same day but more often I have to wait a few days, weeks, even up to several months before I can sell for a profit.

I have never used margin or been stopped out of a stock, something you will see day traders use a lot.
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Old 06-08-2019, 10:00 AM
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Had a nice little run during the market drop (no I didn't short anything, I just bought stuff low and sold high). Currently at $8631 and change.

Might hit $10,000 sooner than I thought!
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Old 06-25-2019, 07:59 PM
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Today is the one year anniversary! I started this challenge June 25, 2018 by depositing $2500 in Robinhood with the goal of making at least a 60% return each year which would cause my total return to be more than $250,000 in just ten years. (easy right?)

Well, today I crossed $9,000! The total one year return is 260%. Not a bad start to my challenge.
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Old 07-23-2019, 08:11 AM
rriley rriley is offline
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Robinhood just announced a giant-size $323 million round of funding, making it worth over $7 billion
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Old 08-02-2019, 08:13 PM
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Well, it is August 2, 2019, a bit over a month since I updated the thread and crossed the $9,000 mark on my initial $2500 investment.

It was a terrible month for almost all of it. I bought 20 Jan 2020 $45 calls of BMY (Bristol Myers Squibb) with about $6100 of my account and 1200 shares of CLSN (Celsion) with $2100.

And then BMY went haywire along with most other drug stocks. Celsion went less haywire but it is thinly traded. At one point the account was down to $6800 but very strong earnings on BMY brought it back up the next day to ~$8600. The goal was for the strong earnings to turn my $6100 into about $8000 and bring my RobinHood account up to $11,000 but that did not happen.

Today BMY showed some strength and I was able to exit the trade with an actual meager profit (sold the calls for around $6300). I also sold off the Celsion for $1.81 and now it is trading for $1.74. It is thinly traded though so putting in a order for 1000 shares could mean it spikes to $1.78. I like the idea of it but I just don't know if it is going to take off. The CEO and CFO have been buying shares at market prices which is a good signal. I might get back in it next week in the $1.70 area for perhaps 600 shares. It could go up big time if they scored a partnership. I have seen these companies go from $2 to $20 in less than a year (and have seen them go to $0 too).

Anyway, all cash now at $9291 (except for the few free stocks). With the trade wars and the attack on big pharma, all cash is feeling pretty comfy. But it is hard to turn $2500 into $250,000 by staying all cash.
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Old 09-10-2019, 03:38 PM
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Crossed the $10,000 mark yesterday and thanks to Nancy Pelosi and her drug pricing plan/threat, I was able to trade in and out of Merck today for another $400 gain, bringing me to $10,491, sitting on all cash at end of day.

$2500 to $10,491 in 14 months. It is ok.
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Old 10-10-2019, 08:16 PM
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Today hit $12,555, currently sitting in all cash except for the few free stocks (none of which I would have ever bought lol...one is called DouYu...I don't even have to look at it to know it is a China stock).

The three year target was $10,240 and I am at $12,555 less than 1.5 years into this personal challenge so things are looking good.
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