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Cliffs Natural Resources Inc. Message Board

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  • livermore1929 livermore1929 Nov 9, 2012 6:47 PM Flag

    $25,620 for a one day hold, I'm not complaining

    I don't drink, and it's not monopoly money, if you want you could bet me 5,000 that I don't have the trade ticket. Care to take the wager?

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    • You got me post the trade ticket. Making 500k day trades leads one to believe you have a net worth over 25mm; I need to see why you are posting on MB's.

      • 1 Reply to mark_teed
      • mark_teed:

        LOL - that isn't at all true what you wrote about needing 25mm to earn that kind of money in a day - it's pretty easy to do really - earning even $30,000 in a day is easy - if you trade the right stocks - and no, you don't even need $1 million - let alone 25!! LOL

        here's an example:

        buying CLF at $35.00 - 14,000 shares = $490,000 - now that's just pure money IN FULL - BUT, if a person is using margin (due to having a margin account), then all that is using if 30% of a person's OWN money - so, 30% of $490,000 which is just under $150,000 being used of one's own money - and that is VERY doable if a person even just has an account that has say $160,000 in their account!

        and to make $30,000 on friday alone, one could have bought 8000 shares of CLF at say $34.90 and then bought 6000 shares of BTU at $25.85 (on opening) - and then ridden them up to the highs of the day - doing so would have made $24,000 on CLF (if sold at say $37.90) and $6000 on BTU (if sold at say $26.88) - and then if you really wanted to make MORE in the day - you could also have shorted both BTU and CLF and made money there on the way down too - say another $4000 in BTU and $8,000 to $10,000 in CLF - so, a potential of $42,000 to $44,000 in ONE day!! and all that would take would be to have in your account, the amount of: 8000 x $34.90 = $279,000 and for BTU: 6000 x $25.85 = $155,100 - for a total of $434,000 approximately (or just $130,000 approximately of your own money IF you have a margin account!).

        So, no, a person doesn't need a lot of money in a trading account in order to make the $24,000 that the poster made - it is a very achievable trade for one day! coming from somebody who KNOWS ;)

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