Sciforums Investment Game

Discussion in 'Business & Economics' started by Xerxes, Mar 13, 2006.

  1. Xerxes asdfghjkl Valued Senior Member

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    Syed. This is the PERFECT age to get involved in the markets. I took an interest at 12 or 13 and basically annoyed the hell out of my parents until they allowed me to invest under their name. My stocks would be worth 4x more today had I kept them.

    School should be easy. At 14, I don't remember anyone doing a significant amount homework. Surely you don't spend every waking moment on academics? If you're interested in the stock market then that should damn well be part of your education.

    Another convincing argument is that instead of learning math 'because you have to', there is incentive. The more you learn about history, trends, culture, scienctific advancement, and math, the better you'll do in the market. Sticking to pure academics without experiencing the world is a recipe for failure. So yeah.. keep annoying the hell out of your dad, he'll come around.
     
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  3. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    I want to trade, directly in India, instead of only via ADRs. Perhaps we can help each other. I can open small US bank account for you and you do the same for me in India. (Both, permitting management via the internet of course. Who sets it up will intitally know the pass word and must give it to true owner some secure way, who changes it prior to putting any money in.) Each would be only in one name and we wait until we can confirm that (see statement details) to be sure only the real owner can take money from it.

    You can open a trading account by the internet and post mail of a signed form. I just opened a new one at AmeriTrade (Got gift of $100 and 35 free trades* as it is not small - I am still keeping the very old one at Schwab but they have misinformed me twice now and charge $29.95/ trade even though account was large, because I live in Brazil, vs AmeriTrade's $10.)

    With both a brokerage account and bank account you can trade US stocks. You will first need to put the money into one of the accounts, but it is easy to set up completely free transfer of money between them via internet commands. Probably the cheapest way for you to put dollars into US account, but slow, is to go to Indian bank and convert Rupees to Dollar "bank check" and simply mail it, being sure it has no value to anyone - i.e. can only be deposited to your account. (Write: For deposit to account xxxxx in bank YYYYY only." on back of check and sign it. Keep record of check number in case it is lost in mail, very rare these days.) Bank "wires" are fast & safe, but expensive.There may be other ways.

    What Indian broker does your father use? Give me names of at least two with their Email addresses.

    I send this openly to you so others can comment, tell you not to do anything of this nature etc. but suggest we soon switch to private messages or direct Emails if you want to do something. I will trust you to set up small, equal value, initial bank account for me AFTER I have set one up for you.

    I do not think there will be any problem setting one up for you, but as you have no US Social Security number it is a little more complex. (My ex wife was, and still is, a Norwegian citizen and has US accounts.) You may need to sign some forms that I assume I can send you as attachments to Emails etc.

    US banks love to get young people saving in them. - They even have "Christmas club accounts" where very small deposits are accepted, but I will look into the minium initial deposit and other details for a regular savings account for you, if interested. I bet I can start a Christmas savings account for $5, perhaps even bank will give that amount, just to get one set up! (My two banks are actually Credit Unions. They generally pay a little higher interest and are fully federally insured to a large amount, but by a different US gov. agency than banks - Credit Unions failed less than banks, back in the depression of 1929, and now neither can unless the US gov fails also.

    There are several Indian companies without ADRs I would like to invest in, but I am a long term investor so in no great hurry.

    PS -Print this and show to your father, who is of course correct, your studies are more important, but you will learn from trading also; lets hope not the hard way.
    ICICI's ADR is IBN. It was my first Indian investment, made about three years ago. My Social Security income and some assets I can not get out of US (for tax reasons) are hedged by ADRs in several countries. If dollar falls the ADRs go up, even if the directly owned stock has not changed in value. -This is a cheap, usually profitable, way to hedge against the dollar drop I am expecting. I can not encourage you to invest in dollars stocks, and I do not give advice, anyway.
    Do you or your father know anything interesting about the telephone company with long name and ADR = MTE? It is the only Indian ADR I own that has only slightly increased, most have at least doubled. It seems to be into wireless as well as land lines. I know it is mainly government controlled still.
    ---------------------------
    *Today (24th april) site became; www.tdAmeritrade.com and in celibrtion of the union with TD Waterhouse, the offer is $100 +50 free trades, but the all free trads expire in 45 days, so not much difference for me. Fortunately, even my autologon still works, etc. Appears to be a well done merger, except some of my "watch lists" were not immediately available. (Some "geeks" worked hard over the week end, I bet.) They will be a "full broker" now I think.
     
    Last edited by a moderator: Apr 24, 2006
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  5. mars13 give me liberty Registered Senior Member

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    this thing wont let me trade penny stocks,id be up 35% in two days if it did.
     
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  7. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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  8. spuriousmonkey Banned Banned

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    I hit the bottom of the ranks and since then have been afraid to look how much further I sank...

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    I would do it all differently next time though. So I guess I learned from it.
     
  9. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    goddamnit I figured out what happened. the stock split, but it didn't give me double the shares. what a freakin ripoff.
     
  10. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Please publish standing here as you once did. (I think it was you.) I never go there to look. - I made my full investment one-time trade and quit. I should not be far above you as I follow it (NAV) in real life also. NAV is a "broken egg basket" but mainly for accounting reasons that may be cured (Failed to file with SEC etc. on time etc) but basically, as far as I can tell, a very healthy company, leader in its field (Even Ford buys their diesel motor from NAV), so may recover by game's end enough to put me in the top half.
     
  11. Billy T Use Sugar Cane Alcohol car Fuel Valued Senior Member

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    Well at least Sockpuppet has lent you his goat I see.
     
  12. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    In reading the FAQ, I see that stock splits aren't credited until after close of market, so it should be rectified this evening, so my apparent loss is only for the day.
     
  13. Xerxes asdfghjkl Valued Senior Member

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    Guess who's #1, again? Thats right!!

    Google has just plummeted.
     
  14. Roman Banned Banned

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    Whaaaaat the hell. I bought Google stock?

    I really need to stay off the net when I drink.
     
  15. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    Time to buy google.
     
  16. Pete It's not rocket surgery Registered Senior Member

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    Ha... I shorted Google a while ago (too early!), but I've bombed out on Microsoft. I should have shorted it as well.
     
  17. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    Hehe, I got into microsoft last friday after it dropped.
     
  18. syedsameer Registered Senior Member

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    Hah, I'm not really worried about it. I am 110% sure that GOOG will rise up again, and very fast. You never know what and when will be Google's next big move.

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  19. Chatha big brown was screwed up Registered Senior Member

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    Best advice anyone can ever give a stock investor- Hold, don't sell, just hold. Anyone can buy and sell but not everyone can hold on. I could have made half a million easily if I had held all my stocks since 2000. Believe me when I say this; Hold, Hold, Hold!
     
  20. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    That is the worst advice ever.
     
  21. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    Oh, and that's what the enron investors did, oh and all those dudes who lost billions/millions in the tech bubble crash. Yeah, hold. Lol.

    Buy low, sell high.

    Hello?
     
  22. Chatha big brown was screwed up Registered Senior Member

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    Of cause you are going to buy low and sell high, that's a given, that's why you play the market in the first place. The issue here is that some investors try to cut their losses by selling, some just sell short for reasons known to them, which is usually financial reasons. Your aim in the stock market is to go for the long term, your portfolio will also act as a savings account at the very least. Believe me when I say this...pick a good stock, preferably value stocks and HOLD, HOLD, HOLD. If there is ever a time I am right on this forum, its now. Forget all what I have said in this forum but remember this advice. Take "TGC" for exampe I monitored this baby when it was 15 cents two or so years ago, now its $1.80. The only people that play russian roullete and buy and sell in relatively short periods are rich people or people with huge leverage, who by the way can influence the market. Don't faulter when things go down and don't crack under pressure, be patient unless absolutely necessary. A word is enough for this wise.

    Enron was a different case, its one of those rare "absolutely necessary" cases. Misinformation was flying left right and center with enron's case. Of cause you can't just buy stocks and leave them alone, you have to check routinely on the company news and data, start with once a week then if all is fair do this check once a month. At the end of the day money is not everything.
     
    Last edited: May 2, 2006
  23. wesmorris Nerd Overlord - we(s):1 of N Valued Senior Member

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    Use limit orders, don't leave because of fear, leave when it makes sense. You must sometimes take a loss to play.

    Untrue. The aim of this game, and being in the fake stock market for this game, is to make as much money as possible in 3 months. I think actually, that's probably a great approach to part of one's investment plan. It depends on your risk tolerance.

    Why would I believe someone who obviously doesn't understand what he's talking about? You're saying that based on a retrospective view of events that effected you personally, not a wise analysis of unknown future risks. It's just stupid.

    LOL, you're clueless man. I guess there must have never been a time.

    First part "forget what you've said", hard to do because I haven't seen any that I remember. Second part, please god people, do not take this advice.

    This is simply irrelevant. You don't know what a stock will do unless you keep track of markets, etc. You're looking at this all backwards. The fact is at the time you bought it there was no way to know it would be 1.80 now or you would have kept it, fool. "man if I'd just picked 92 for the powerball number, I'd be a winner!". I freakin hate this type of thinking. So stupid.

    ? What the fuck are you on about? Anyone can buy or sell whenever the hell they want. Use limit orders and it's fairly safe unless you're greedy like I was yesterday and thought UARM would go up a smidge more before falling, so I set my limit price for selling half my stock for profit taking slightly too high and the order didn't go through. Either way though, limit orders are the way to go.

    Well this could be wise advice, but I don't think it is the way you mean it. You mean "buy and hold", which is a losing philosophy. Sure you could get lucky and win, but you diminish your odds by putting your head in the sand.

    Pardon, but you seriously don't seem to qualify.

    Huh?

    Well no shit. But nobody knew it at the time. It would seem you don't think it ever happens outside of this one special case. Foolish.

    Now why the fuck would you bother if you're just going to buy and hold? Make sense damn you. You do it to stress yourself out? You just said, buy quality stocks and hold hold hold. If you're going to do that, why monitor them at all???? - to give yourself a heart attack when you find out what a foolish investment it was? You monitored and pulled out apparently, and now lament for money you could have had but didn't get because you failed in your conviction. Pretty sad. If you'd done your homework you might have discovered the stock would go up over time and should have backed up the dumptruck for buy buy buy, and sell of enough to be paying on the houses money, then play however you want. Whatever man, you're just not rational about this.

    ?????????

    no shit, but this is a thread about money. sheez you're clueless.
     

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