Ending Balance: $1,144,247.68 Position: 1st ($144,247.68 ahead of 2nd) Alright, back to it now after Thanksgiving break. I was unable to participate in in last week's rally and today's drop, so its time to make up some ground. Position Update: I am down 6% on GLD. I am looking to increase my position in the GLD if it goes any lower. Personally, I feel that today's drop is signaling that we will go much lower. Looking at the Dow being over 8,000, I feel there is much more room to go down. Tomorrow's Purchases: SRS, SDS Tomorrow morning I will be placing orders to buy at the open for SRS and SDS. I will buy 3,500 shares of SRS and 500 shares of SDS, each 25% of the total stake I plan on taking. If the market pops tomorrow, I can buy these positions at a lower price. If the market trends down as I believe it will eventually, I will add at higher positions. I believe this is the best strategy I can employ considering I am a full-time student. I would love to sit on front of the computer tomorrow and check out tomorrow's opening, but I have class tomorrow and need to continue finishing my last semester strong. Attached are the 1 month charts for SDS and SRS. It appears that the two are about to break out.
Yes, you are correct, there are two people on the sidelines. In total there are 9 participants. I believe all of the participants are fairly passive in this competition. While it is nice to be in first place, it is even better to be able to chronicle my trades and ideas in hopes of furthering my knowledge. With this thread I am trying to develop my capital management skills. You are also very correct in that it is easy for me to post since I have had positive returns. If I do run negative, I will have to take responsibility for my actions. I am prepared to do so if the situation occurs. Regarding about trading real money, I believe what you say to some extent. When it comes to having a sim account, it is easy to trade knowing there are no financial repercussions. As far now, this sim account is the closest I can get to executing all the ideas that I develop. The hope is that this experience can add something of value in my search for a career in capital management. Thank you for your advice.