When I said 10% consistently, it does not mean it is always 10%. i.e. From March 20 to April 20 (my fiscal month) I made $10,312.00, risking only $25K, the next month I only made $2,995.97 profit (made $8000 but lost $5000), the following month I made $4,646.85 (made $10K but lost $6K). This month I am at $1,333.12 profit. See my parenthesis ? I lose, the secret is always lose less than what you make.
This was made risking only $25K on my ThinkorSwim account, which I have kept at $25K once a month ends. The reason I keep it at $25K is for daytrading. I do not day trade but if I see the opportunities I do not want to let them pass me by. I also opened that account was to try new stuff, my main account is still with Etrade.
Granted the last few months have been easy to trade... and I have had bad months but I usually lose less than when I make money. Besides, measuring my success monthly I measure it quarterly also. I made $18K last quarter in that account risking $25K (actually risking a lot less than that because I use options but I always use the total amount in the acount to calculate my rate of return). That is 72% return. And most important, at the end of the month, I have CASH.
On my Etrade account I have way more money than that but I also trade bonds, warrants, trasuries, ETF's and futures so that is a more complicated to measure return monthly or quarterly.
I am talking about NO risk at all.
This is how I work it. First you have to have a Citi Bank account and any credit card that gives you a 2 to 5% back for any of your purchases. Once you have that you are in bussiness because CitiBank lets you fund those CDs with credit cards and they look and act like regular purchases on those credit cards. So I fund a 3 month CD through a credit card I get 2 to 5% back on that purchase, I get to use the credit card companies money for one month while mine sits in another interest baring account (basically getting interest on two accounts with the same money for the first month). Then when the credit card bill comes due I take the money out of the other account and pay it. Then in three months I do it all over again. So in the end you are going to get at least, (2% X 4) + (1% to 1.5% (rate on a 3 month CD) X 1) + whatever interest for each month X 4 that you get to use the credit card companys money for. It gets even better for the cards that you get even more then 2% back on. I would suggest you get a few credit cards with these kinds of rebates because most also have a limit on them of the amount of rebates you can get in a year.
The other one I told people about cannot be used anymore because of the low interest rates on CDs and the fact that all credit card companies are now charging for balance transfers. So you have to actually use your OWN money this time to make money. Sorry but sometimes it only gets so good.
Like the last one I talked about this one will not make you rich but will give you an edge. Like this type of crap will pay for your kids college.
P.S. both require you to have a really good credit rating.
P.P.S I forgot to tell you CitiBank will also let you fund your first (original) account with a credit card.
Last edited by john; 07-08-2009 at 12:35 PM.
interesting john, very very interesting.
unlike you s.o. i dont claim to be a guru, my ultimate strategy is to be like water, look up bruce lee if u want to know more, that can be applied to anything u do in life, second i buy companies not stocks, sometimes i will trade yes, but mostly i prefer to find a company with room to grow revenue and a product that stands out, buy them while they are in the shitter and sit on them, nothing is fool proof, but so far this year since i decided to come in last nov when i thought the markets were close to done crashing it has worked really well. Im not that strategic to be honest! but whatever i like to be able to move with the flow and not be stuck to any 1 strategy or plan.
For me your plan would not work. I like to spend the money I make. Sitting there going up and down like a yoyo does not do me any good. I trade stocks, if I want something for long term I mixed up but I usually do not "buy" or invest in one company.
i dont think he cares lol, he loves to tell people what they should be doing. its okay in the long run i think he is only trying to help, and im thankful for the advice.