jiesen, I think the daily trading will be ok, as I won't have to update daily. I can still do it once a week, and just check the board for changes and go back and adjust using the days end prices. If we were doing "real time" trades on a daily basis it would be tougher. In todays volatile market, I believe it will be closer to the real thing if we can make daily adjustments, as the market dictates sudden changes...
Just no friggin day trading!
you're in. Obviously the original 10 have first slots for the next group, which will be 15. So there are 4 more open positions, and then we can have an alternate list in case originals don't continue...
I'd take it a step further than that, and say daily trading will be too much of a burden, not just for you, but for the traders as well. Besides, the less trading involved, the better the overall returns are likely to be. Monthly trades should be ok, but anything shorter term than that is imo unnecessary. If you MUST, weekly trades could be allowed, but again, I bet that daily trades will make this a bitch for you to handle, and will greatly increase the odds of your dropping the whole thing mid-year. Just imagine the whining of all the traders (imagine 5 val's joining us) trying to get you to count trades made after the fact! btw- how's that XOCM working out?
my advice: keep it as simple as possible, but no simpler.
Sounds great. I agree that limit orders would be too much for you to handle, and didnt expect them.
If we are going to do commissions on trades (which is good imo), we should do automatic dividend reinvestments, otherwise someone has to pay to reinvest them...
I agree, we can up the "buy-in" to $10,000. I don't mind daily buying/selling, as that would make it more realistic for thoise that keep a closer eye and want to try to time some dips/rises. Strike prices will be at the close of the business day during which you informed me of any changes.
I'd prefer to stay away from limit orders, and short positions...that would be a little to much.
As far as dividends go, I have been adding them as a cash addition, not reinvesting...
We can change that for next year.
I do agree with the $10 commission per trade, both on the buy or sell end.
Good ideas....I would also like to keep it to 15 people or less...so all that participated this year can rejoin, with the addition of 5 more.
Sound good so far?