Last post on May 11, 2008 at 6:20 PM
You are in the Car Stock Exchange
What is this discussion about?
#6 of 15 Re: Is anyone else bad at this? [chung]
Apr 15, 2008 (1:38 pm)
Yeah, Genesis stock price dropped midpurchase on me. Instead of shorting at $73/share, the price plummeted and I ended up shorting at $29/share. At 117K shares, I got hit pretty hard.
How are you coming up? I'd have expected you to pass me in net worth by now.
#7 of 15 Re: Is anyone else bad at this? [nate4924]
Apr 15, 2008 (1:47 pm)
I tried to get in on the MKS today at 10 sharp, actually I was ready at like 9:50 waiting and ended up losing 30K cause somehow I got in at $51, I don't think I could have got in any faster,I've cut every step out that I could think of and thought I had a efficient process so maybe IPOs aren't for me (Bad Luck/timing) I know it's not my connection speed. I may try again next week, but we'll see, Thanks for the tips chung. I'm sure I'll stick around, I just wanted to rant and complain.
#8 of 15 Well honestly...
Apr 15, 2008 (1:50 pm)
I was having fun for a couple of weeks, but it seems there are either ways to manipulate the game or some people have psychic powers. I cannot babysit day trades all the time. I therefore have no chance of ever winning a monthly prize. Since it's not real money, what then would be the point? I got out of everything today with heavy losses, so at least I'm not messing around with other folks. Have fun.
#9 of 15 Re: Is anyone else bad at this? [estreka]
Apr 15, 2008 (2:15 pm)
So.... it was you who was helping me win big with Genesis...
I made top 50 overall wealth today... and since I have not done anything wrong this month , I should have a good chance of winning the prize... I think doctorlove is either out, or not running for this month prize..
#10 of 15 Re: Is anyone else bad at this? [chung]
Apr 15, 2008 (2:28 pm)
I think you have a better chance of winning this month than me. My net worth is too high to get the percentage gains I need.
#11 of 15 Re: Is anyone else bad at this? [bg96]
Apr 15, 2008 (3:16 pm)
yea.. i saw that on the leaderboard.. but I do have respect for you.. it is not easy to gain $7.. especially when you were not heavily involved to all 3 IPOs..
#12 of 15 Re: Is anyone else bad at this? [h4ck54w]
Apr 15, 2008 (5:04 pm)
I've come to grips with the fact I won't win but I still haven't reached my personal goal of 5 Million CSX$....after I consistently hit that, I'll probably re-evaluate playing...but I've found it's impossible to make big gains without day trading or hitting the IPOs. And I missed the IPO this week because of being out of town for work...but my portfolio has remained stuck in the $4,500,000 to $4,700,000 range now that there are no big movers driving down prices.
I do want to see what happens in August when half my portfolio retires at $2 to $3 a share that i shorted in the $50 to $60 range...
#13 of 15 Re: Is anyone else bad at this? [thegrocer]
Apr 15, 2008 (5:12 pm)
It is possible (i make it sound so easy although it is not) to get significant gains after you miss IPOs. Just look at Infiniti FX trading price since last week (since it was IPOed). Also as you accumulate wealth, your trades should be focused more on Corolla and F-Series.. just my 2 cents...
I agree that to win a monthly prize, you need your wealth to be around $1M at the beginning of the month.. but who knows, maybe August prize might be a big one... maybe even a car?? after all we are at edmunds and they have plenty cars that need to tested for the long-term reviews...
#14 of 15 Re: Is anyone else bad at this? [h4ck54w]
Apr 16, 2008 (8:05 am)
I am definitely bad at the short term gains, but I am keeping the faith for my long term position. I was the fourth player to join this game, so I made a fortune on the day-one IPOs. If it wasn't for that lucky timing, I'd be just another one of the faceless thousands who play this game.
I've finally sold a lot of my day-one purchases and have bought large amounts of long-term shorts with the cash. It has worked out very poorly for me in the short term, but I don't see how it can lose in the long term. The ones I bought were SO overvalued compared to their forecast, I can't help but make tons of money when they retire and get corrected for reality. At least, that's the plan...
The hardest part for me is to be patient and not panic over short-term losses.
May 11, 2008 (6:20 pm)
I dont know yet. I hope I dont go down that fast. I would like to go spirals better then head on. Anyway if we all gang up and come out with a stratgy to overcome this thing. then we know how vegas works. what do you think??????