Here's the goal: Turn $1000 into $10000 via trading. If I can pull this off, I'm not sure how long it will take but ultimately I'd like to reach the goal within one year. To do that I will need to earn approximately 5% each week. Unfortunately due to the small amount of starting capital, I won't be able to practice sound money management, i.e., diversification otherwise commission costs will eat into most of the profits. Until I build up my balance I will need to make 10% or better on most trades to cover commission costs.
1/22/09: BEGINNING BALANCE: $822.40
1/22/09: Bought 6 OOCNB (DRYS Feb 10 puts) @ $1.1 ea (-$674.49)
Note: DRYS is overbought and CEO is running company into the ground
1/22/09: Withdrawal of $180
1/29/09: Sold 6 OOCNB @ $2.4 ea
Note: DRYS in breach of loan covenants, stock down 30% on the day
1/29/09: ACCOUNT BALANCE: $1425.50
1/29/09: Bought 150 GERN @ $7.9 (-$1194.99)
Note: GERN is leader of stem cell sector which has momo right now, news special on prime time tomorrow evening,
