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  • #31
    Re: TG Fantasy Stock Market League

    Wow! CPI came in better than expected (http://www.cnbc.com/id/24155569), JPMorgan Chase, Coca-Cola, and Wells-Fargo all beat estimates. Better-than-expected housing data. Futures are up nicely(http://www.cnbc.com/id/17689937/site/14081545/). Looks like a strong opening for us today.

    With any luck the leading indicators that come out tomorrow will be good or at least not bad enough to derail the markets and we can enjoy a couple of days feeling smart and safe before the next shoe drops and we can start buying again.

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    • #32
      Re: TG Fantasy Stock Market League

      Originally posted by War.mongeR1 View Post
      Anyone know what time the trading bell rings? Is it 8 am Central?
      US Markets open at 9:30 Eastern and close at 4:30 Eastern.

      Comment


      • #33
        Re: TG Fantasy Stock Market League

        Originally posted by leejo View Post
        What terms are you stuck on?
        Pretty much everything that isn't "buy" or "sell". :P

        I go an look things up when I encounter something I'm unfamiliar with, but at this point that's pretty much everything. I'll get through it, but I think I'd be faring (at least a little) better if I would have had more than one econ class like 8-9 years ago. :)
        [squadl]
        "I am the prettiest african-american, vietnamese..cong..person." -SugarNCamo

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        • #34
          Re: TG Fantasy Stock Market League

          So, apparently my virtual trade account has been deleted? I tried logging in just now and I'm getting a message that the account is invalid. I can still log into the CBOE website just fine, but not the virtual tool.

          edit: nevermind. apparently the trading tool decided on its own to make a new password for me and stuff. figured it out after some tooling around.
          [squadl]
          "I am the prettiest african-american, vietnamese..cong..person." -SugarNCamo

          Comment


          • #35
            Re: TG Fantasy Stock Market League

            Originally posted by SmokingTarpan View Post
            Pretty much everything that isn't "buy" or "sell". :P
            Well those really are the most important terms to understand :)

            This is why I've come to believe that investing is a process. There's so much to learn, but fortunately the easy stuff to understand is really the stuff you should do first. Go long (buy with the expectation of selling at a higher price later) on JNJ, GE, BAC, XOM, WMT, CL, KO, and a few others (or similar companies) to build a rock-solid portfolio. Over time you'll increase your trading vocabulary and also you'll increase the number of stocks you know and understand.

            One rule that I have for myself with my real money is that I have to EARN the right to risk money on more exotic companies and trades. I earn the right to do this by proving to myself that I know what I'm doing. I prove to myself that I know what I'm doing by looking at a nice pile of cash and successful investments in blue-chip, dividend-paying, rock-solid, megacap companies.

            In other words, if I can't turn around and look at those nice piles of cash and solid stocks, then I can't afford to risk my money elsewhere. Start low and slow. Build speed and skill. Don't get greedy.

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            • #36
              Re: TG Fantasy Stock Market League

              According to one of the links Leejo provided, it is PRICE that is the most important key factor for us to know. All the other algorithms, formulas, and technical mumbo-jumbo don't really matter as much as that 1 key factor.
              "Common sense is not so common." -Voltaire

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              • #37
                Re: TG Fantasy Stock Market League

                Just out of curiousity, I've seen various software packages which are supposed to help you when investing. Is anyone playing around with anything like that?

                Bernout

                |TG-MD6|

                Comment


                • #38
                  Re: TG Fantasy Stock Market League

                  Originally posted by leejo View Post
                  TG Fantasy Stock Market League
                  Sounds like a great learning experience leejo. I'll give it a go.

                  Originally posted by leejo
                  Once I see a sector that seems to be trending up, I will dive a little deeper into stocks within that sector.
                  I think I'll shake things up in this contest. Unless I have good idea of the success/failure of a company's product I tend to go with "big picture" type investments like indexes and sector ETFs - and at the moment I'm quite the bear.

                  Originally posted by Smoking Tarpan
                  What's sad is that I don't even know half the terms that are being used here...
                  Welcome to investing. *grin*

                  Actually ST, I think it's great start to say you don't understand. Think about where you see the world going and then come back to this board and ask questions. For example, you might ask, "I think Obama is going to be the next president. How could I profit from that outcome?" I'm sure that will stir some lively debate.

                  bkelly

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                  • #39
                    Re: TG Fantasy Stock Market League

                    Alright, so I've bought 100 shares each of Intel and nVidia. Intel seems to be having a good time with processors over AMD, and apparently there's a bad forecast coming out for AMD tomorrow that might help push Intel stock up. I bought nVidia because they're tied to Intel now, and let's face it, they're pretty much crushing ATI.

                    Two questions. One, how do you do the stop-loss order? Is it something you do when you initially buy the stock, or do you have to do it in a separate action? Second question- what does it mean when you try to buy a stock and it gives you the message "Invalid Quote"? I looked up the stock symbol using their tool and everything.
                    [squadl]
                    "I am the prettiest african-american, vietnamese..cong..person." -SugarNCamo

                    Comment


                    • #40
                      Re: TG Fantasy Stock Market League

                      Originally posted by SmokingTarpan View Post
                      Second question- what does it mean when you try to buy a stock and it gives you the message "Invalid Quote"? I looked up the stock symbol using their tool and everything.
                      I used google finance to find all my stuff. Google's even tracking my Fantasy Stock Market portfolio for me! You should check it out. I've also heard that Yahoo's finance section is great as well.
                      "Common sense is not so common." -Voltaire

                      Comment


                      • #41
                        Re: TG Fantasy Stock Market League

                        Originally posted by SmokingTarpan View Post
                        Alright, so I've bought 100 shares each of Intel and nVidia. Intel seems to be having a good time with processors over AMD, and apparently there's a bad forecast coming out for AMD tomorrow that might help push Intel stock up. I bought nVidia because they're tied to Intel now, and let's face it, they're pretty much crushing ATI.

                        Two questions. One, how do you do the stop-loss order? Is it something you do when you initially buy the stock, or do you have to do it in a separate action? Second question- what does it mean when you try to buy a stock and it gives you the message "Invalid Quote"? I looked up the stock symbol using their tool and everything.
                        Yeah I don't know what's up with the invalid quote junk. A bug maybe? Anyway, the answer to your first question may obviate the answer to this second question.

                        Everything that follows assumes that you're using the CBOE tool that is standard for this exercise. I chose the CBOE tool because, unlike google or yahoo or any other tool I've found it 1) is free AND 2) allows short selling, options trading, and futures trading.

                        To enter a stop-loss at the time you enter the buy order (and I recommend that you start using the Limit order so that you set a price you're willing to pay. Set it below where the market is at the price you think is a good deal for the stock. If you think the stock is perfect right now, then just use a market order) do the following:

                        Choose what sort of stop-loss you want.

                        trailing stop% - triggers if the stock drops below the % threshold from its high since you've owned it. In other words, as the stock's price goes up, your stop order price goes up too. You can also have a stop market or a stop limit.

                        stop market - triggers a market sell order if the stock's last trade = your stop loss amount. In other words, if you enter a stop market order for $10, then when the stock's trades at $10, a sell order will execute for whatever the market is paying for your stock at that instant. This may be slightly more or less or exactly the same as $10.

                        Stop limit - triggers a limit sell order when the stock's last trade = your stop loss amount. In this sort of order, you enter the trigger price, $10 from the above example, and the limit order, say $9.85. This of course gives you a little more control over when the stock trades and at what price, but it also comes with some risk. If, for example, the price plunges straight through $10 to $9.50, which can happen if the stock isn't very liquid (isn't traded at high daily volumes), then your limit order may get entered by not executed, since the stock's price, $9.50, is below your limit- the amount you're willing to accept for the stock.

                        Once you decide which of these stops you want to use, and after you've completed the buy information, select the "Advanced Orders" drop down and select either "Trailing Stop" or "One Triggers Another (Stock)"

                        From there I trust you can figure it out based on the above explanations of how the different stops work.

                        Notice that you can also enter a one cancels another trade. Use your imagination with some of these and create your own tricks and strategies.

                        Hope this helps. Good luck!

                        Comment


                        • #42
                          Re: TG Fantasy Stock Market League

                          Originally posted by War.mongeR1 View Post
                          I used google finance to find all my stuff. Google's even tracking my Fantasy Stock Market portfolio for me! You should check it out. I've also heard that Yahoo's finance section is great as well.
                          The stock I want is listed under the same ticker symbol everywhere that I look; CNET, Google, CNBC. But the trade tool won't let me buy, just keeps telling me that it's an invalid quote. :(
                          [squadl]
                          "I am the prettiest african-american, vietnamese..cong..person." -SugarNCamo

                          Comment


                          • #43
                            Re: TG Fantasy Stock Market League

                            Originally posted by leejo View Post
                            From there I trust you can figure it out based on the above explanations of how the different stops work.
                            Alright, let me run through this and make sure I have it. We'll say I want to buy shares at the market price of $10, and sell if they drop to $9.50.

                            So, I decide to buy stock XYZ. I choose the action Buy, and leave Market selected. Then under the advanced orders section, I choose "One Triggers Other: Stock". On the next page I enter stock XYZ and choose the action Sell. Then in the field "Stop $" and put in $9.50.

                            This will let me buy shares at market price ($10 for this), and if the price drops to $9.50 it will automatically sell for me? Hopefully I have that right.
                            [squadl]
                            "I am the prettiest african-american, vietnamese..cong..person." -SugarNCamo

                            Comment


                            • #44
                              Re: TG Fantasy Stock Market League

                              Alright, so I've bought 100 shares each of Intel and nVidia. Intel seems to be having a good time with processors over AMD, and apparently there's a bad forecast coming out for AMD tomorrow that might help push Intel stock up. I bought nVidia because they're tied to Intel now, and let's face it, they're pretty much crushing ATI.
                              Hey Smoking T,

                              I have no clue what I am doing but I wanted to bring this out that maybe some of the more experienced and knowledgeable people can comment on. I think the Intel purchase is a good one and even the NVidia isn't bad either but I think where you might want to be cautious on is the reason you purchased the NVidia. Because they are linked together might very well be the reason NVidia is doing so well but remember if one starts to fall the other might do the same. So I think this is where you want to remember to "diversify your portfolio" Don't put too much into one sector.

                              Am I correct in this? Comments from any of the experienced traders....
                              sigpic

                              Comment


                              • #45
                                Re: TG Fantasy Stock Market League

                                I purchased 100 shares of Fedex Express stock (FDX). It is transportation which concerns me due to the record oil prices but I do work for the CO and knowing how they function was a big factor of why I purchased this stock. I think this is a safe buy that will provide a solid base to my portfolio. Fedex is a frugal company that is always trying to increase profits anyway they can. I also think they are a better buy than UPS. Although UPS does more volume most of their volume is a low profit service and their employees are union and the largest expense any company has is labor.

                                Fedex stock is also on an upward trend after taking a sever hit so I think they have the potential to be a very profitable stock. Comments?
                                sigpic

                                Comment

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