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HoldThatWinner (31.39)

Always read the rules, dummy



October 30, 2010 – Comments (0)

Well, looks like I may have commited caps suicide. First of all, I enjoy this game and have fun with it. However, I'm not able to take it as seriously as the RL trading/investing (for some reason I have trouble multi-tasking, and there seems to be little time during the day for everything). However, today I decided to open up the CAPS account and look things over. I then began questioning why my caps score is so low, and looking back at some of the knee jerk mistakes that I have made. I looked at my accuracy (which said 50%) and I said to myself, that can't be accurate (pun intended) as I have closed 125 picks in the green with only 5 in the red. I then decided, hey, maybe I should read the rules? lol. Yepper, and that's where it said only scores above 5 are counted as accurate picks, haha. And to think this entire time I've been closing out picks which moved much further in my favor just below +5 trying to obtain a quick, high accuracy. DOOOE!!  BTW, at that 'point' I decided to read the rest of the rules, haha. Anyway, I've made some silly moves, along with thinking a pullback is coming. So it looks as if my only chance now is if those terrorist packages show up again next week, or if the Dems regain control of the House/Senate, as I have red-thumbed most everything in sight, and have closed many positive picks for, well 4.99 points, haha. Anyway, all is well. Had a fantastic week as I actually had a day in which I made over 10K in profits (my largest day ever). Started this account in early September and became extremely bullish then, but like a dummy, I didn't read the rules! (And closed several picks to early) haha. So my next shot at it I'll be sure to keep these things in mind (which i may create one more account and try again).

Things I've learned during this 'CAPS adventure'

1. If you achieve a score of 90+ in the first week or two after your created your account, It's probably wise not to start picking every ticker in the Finance page to obtain a 'quick accuracy' haha.

2. See #1

3. It's probably best to create your account whenever the market crashes or is at the very top, that way there is a sure direction, (like oh, let's say create an account in March of 2009 and green thumb everything-Is that how you make it into the top 10 immidiately?) haha.

4. See #1 and #3

5. I like to swing trade 2-4 days, therefore I should keep in mind that when I jump on a rocket ride, I can't close it out for 7 days (alot of stuff can happen with pumps n dumps within 7 days), haha. A stock may be up 20% after you pick it, but 7 days later it may be flat or down. I'll be sure to not confuse 'trading' with CAPS investing. Basically, in CAPS, you're looking for the top or the bottom on a stock.

6. See #1, #3, and #5

7. Be sure to read the rules

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