Living:
I'm a Shaman, technically a pagan, watch it! LOL.
TJ:
Pray in one hand, DD in the other. See which one has more money. Most of the passages in the Bible referring to money were used as an analogy. Don't be too literal, you'll miss a *lot* of wisdom. OTOH, if the needs of both you and your family are being met, you are blessed and wealthy beyond measure (if you appreciate what I am saying). You have my continued blessing, as much as that is worth. I wish you no ill. Peace, Love and Happiness to all my brothers and sisters in the world.
~~Weird Uncle Jesse~~
Forum > Can I get rich off investing $1000?
Displaying entries 21 - 38 of 38 forum posts in total
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Posted July 04, 2009 (01:13AM)
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Posted July 04, 2009 (03:06AM)
From XYNH's Website:
HydroGenetics, Inc is in the business of acquiring and operating emerging businesses both in the alternative energy sector, as well as the entertainment field. It is the company's mission to incubate these emerging companies into revenue producing, profitable businesses utilizing investment capital and other resources including management and strategic planning for the benefit of its business units. HydroGenetics, Inc. owns HydroAxis Technologies, Inc, a wholly owned technology development company and also has an entertainment division which oversees and owns Pacific Lights Entertainment Inc and Hilarity Films. Hahahaha, a green energy company AND an entertainment company all rolled into one. This sounds so unbelievable I almost believe it. If they were perpetrating a deception, wouldn't they take out the entertainment bit? LOL, either way they are idiots... idiots for making their company sound fake, or even bigger idiots for merging an engineering company with an entertainment company. |
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Posted July 04, 2009 (03:22AM)
From here: http://theotcinvestor.com/xynergy-holdings-surges-on-hydroxassist-breakthrough-311/#
HydroXAssist uses distilled water combined with electrolysis to produce hydrogen using only 12 volts. Investors are hoping that this technology could be quickly commercialized to help consumers save a great deal as gas prices are rising at the pump. After all, consumers are always looking to save money on fuel and these tests prove that it can be done using technology. Electrolysis produces hydrogen in equal amounts of energy that you put into the system. So if you put X energy in, in theory you would get X energy out. It just converts that form of energy from one to another. Here's the thing, wiring consumes electricity, so you will get a little less than X out the system. Now if hydrogen fuel is more expensive than your electric prices, this could save you some money if you can find cheap distilled water. But essentially its a scam with a fancy name and a nice headline to pop the stock's price up. Their application for aid will be denied. Electrolysis is nothing new and this is not a revolution in the field of hydrogen fuel power. Now if hydrogen fuel power was hitting it big, who knows they could probably sell their scam quite well. The thing is, it is not hitting it big, so I don't see how they'll market the device to anyone. In summation, there's nothing wrong with trading a penny stock and getting a nice pop off of it, but I'm just pointing out the fishiness of the company because I like to investigate these things. If their big claims were something valid the stock would go to $0.50 pretty easily, but quite predictably their claims are false. |
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Posted July 04, 2009 (11:03AM)
That's cool man, I find all that interesting, I just dont like it when people misreprsent facts, you know.... You got any 7 pointed leaves for me Uncle? ;] |
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Posted July 04, 2009 (03:18PM)
Au contraire, mon frère Malachi 3:8 says: Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the Lord Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it. (New International Version) King James Version says "Prove me in this" - same meaning. As fars as I know this is the ONLY place in the bible where God says to test him. I will agree with you that the Lord does abhor anyone turning a place of worship into anything else. You can read the account of the Jesus driving out the money changers in Luke 19:45, Matthew 21:12, Mark 11:15 and John 2:13 BTW, I pray everyone has a fantastic Independence Day weekend. Be safe & keep the fireworks away from the kiddies. |
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Posted July 04, 2009 (03:36PM)
Luke 19:45
That's the one..... |
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Posted July 04, 2009 (04:16PM)
Crap guys...how the heck did this topic evolve into Bible quotes?
To the topic, if you have $1000 to invest and would like to turn it into profits... NEVER play with money that has more meaning the mere "play" money. Even if you are into profitable trades, the emotions will kick in and you'll either sell when you should have held it longer because you're too afraid it will go back down, or you'll impulsively buy when the price is up on false confidence. The point there is that very often you'll see red before you see green...and if that $1000 is all you have, the color red is very scary and you'll often wind up selling before you make the money back for trading fee's..or often before you even see green at all. The dilemma with using a small amount of capital for trading or investing is that even if you consistantly make profitable gains, lets say a rate of 1% per week even...1% of $1000 is $10.00, barely enough to cover the cost of a round trip in commsions. If you're trading with $2500, you have much better odds at making money, but you absolutely hve to know what you're doing and know how to get in and out of trades. Regardless what amount you're trading with, you also need to know that the odds are stacked against you, 90% of the problem with individual traders is emotion....large institutions and "alg" traders use that against you. Fear causes inexperienced traders to sell at lower prices than they'd bought at...this is why you absolutely have to be sure that the $1000 is play money...if it's more important that that to you...there's a very strong chance you're going to lose money. |
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Posted July 04, 2009 (04:30PM)
I am not much a Bible scholar but to the original question "can I get rich investing $1K" my take is NO. If we assume you get the normal market returns in the past - 10-12% per year even without any volatility it will take you 5 - 6 years to double your money. And that does not qualify as rich
Now, let's shift the question to "can I get rich trading $1K' - this is the Wild West. My take again is NO, but please do not take my word for it. There is a guy here, named El Dorado. He made a lot of money trading penny shares against all odds, maybe he will chime in on his experience |
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Posted July 04, 2009 (06:18PM)
Old, I wouldn't qualify a lot of money as a 40% ROI....
In the case of the guy who started this thread that would give him a whopping $400 gain. Just about enough to get bottle service at a decent club and "live the life" for one night. And then... back to reality. |
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Posted July 04, 2009 (06:23PM)
Ven, El D started with $2K and ended up with $14K in high risk smallcaps from the start of March's low.
I was the first to tell him how lucky he was, I prefer not to rain on his parade...I have also suggested he take money out and not press his luck by maybe changing to a more stable strategy. |
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Posted July 04, 2009 (06:42PM)
Ven, I am much easier. In my mind if you can sustain two times the risk-less rate of return from trading, after all expenses, you are doing great. The 10-year bond is around 3.25% these days and my yardstick is at 7.5% + expenses |
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Posted July 04, 2009 (06:56PM)
I definitely agree. The power of compounding is an investors best friend. But the guy who started this thread asked if he could get "rich" from a $1,000. Quite simply, the answer is no. And trying will most likely leave you very, very poor.
Inc Is that what he told you or is that something you know for a fact. Because judging by his performance he is only up 40%... |
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Posted July 04, 2009 (07:05PM)
It would take nearly 21 years at 2% per month to turn $1000 into 1 million dollars. |
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Posted July 04, 2009 (07:43PM)
Fairly incorrect. It would only make him $1,000 poorer if he failed and if he had $1,000 extra to put into an account, it probably wouldn't qualify as "very, very poor." .. Just sayin.. |
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Posted July 04, 2009 (07:47PM)
40% is pretty respectable! I think his results were much better and he gave back some performance |
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Posted July 04, 2009 (08:00PM)
Hmmm....at 2% per month...it'll take more like 29 years of consistant earnings to make 1 million.
But as TampaJake said.... Possible? yes Probable? no It would take alot of work and a crap load of spare time to pull something as such off with just $1,000. |
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Posted July 04, 2009 (08:08PM)
Buy a 1000 dollars worth of lottery tickets and cross all your fingers and toes.
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Posted July 04, 2009 (08:19PM)
My account value is 6785.96 as of close on Thursday. I topped out over 14,000, about 12,000 when I started buying long calls. The last few weeks have been very bad for long calls, but many of them don’t expire until this fall. I should have waited until I had more experience before I started playing options. Ven, I’m not bragging and feel pretty bad about my losses from such a high, but I started with 2000 and have never added to my account. The way I see it, if I start adding cash I will only add to my potential loss. You don’t have to take my word for it, every trade I made is in my public profile. As far as percentages, TK does not have four or five month totals, so the 40% seem reasonable for the last three months. 2000.00, to 6785.96 to date, you do the math. The reason I stopped trading pennies is because I just don’t have the time, should of took a pause until I have more time, but neither here nor there, the way it is. And yes, I do believe a person can start with a small account and make a fortune, if they have the time and discipline. Thanks OF and Inc for the kind words, and Owl, SP, IT, ddave, and many others offering me advice along the way. I hope every one is having a wonderful Fourth of July! |
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Displaying entries 21 - 38 of 38 forum posts in total
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