Turn $3,000 into $100,000 Challenge
We are pleased to announce the kick off our our next $3K-$100K challenge this Friday, March 15th. Our last challenge was published on http://www.traderminute.wordpress.com an yielded over $20,000 in profits. Due to an increased following and others asking to follow along, we have created http://www.traderminute.com with many technical enhancements to make trading easier to follow along. We call it our Live Trade Seat.
With a Live Trade Seat Membership you get:
- Get real time emails for all executed trades. Including the $3K-$100K Trades
- Visual access to our traders desktop when trades are made.
- Access to our proven trading methodologies.
- Instant Chat with our Live Traders.
- The opportunity to participate in substantial trading profits!
The cost of the Live Trade Seat is $499/mo. The reason for the cost is two fold. The first is that my SEC lawyers advise me not to trade any of my personal money when sending out trades so that I can not be held liable for collusion. In the past, I have walked this fine line but going forward I will not. I will still be trading with live money, just not any money that I have a personal vested interest in.
So in order for me to benefit from sharing my trading skill and expertise I must charge. I have tried to keep the charge low enough that it is insignificant for each trader in the scheme of the 3K-100K challenge but high enough so that I can support myself without having to trade my own monies.
For those who have followed us over the last months, please use the coupon code “100trade” at checkout to get $100 off each month. It is a monthly subscription that can be cancelled anytime. There is also a 12 month purchase option for a discounted price. Access everything at http://www.traderminute.com/membership-levels-2/
If you have any questions, please feel free to give me a call at 801-615-1494 and I will be happy to help you out.
Best of luck in our upcoming challenge and off to $100K we go!
I closed each one of my trades (HAL @ .50), (CAT @ 2.35), and (SDS @ 1.10). This leaves me in cash with a value of $24,000 in the account. Since I had already removed my initial investment of $3,000, the $24K is pure profit.
Due to the growing interest in the 3K -100K challenge, I will restart the challenge with $3,000 starting on Monday. This means that I have come short of my 100K goal but 24K is a nice consolation prize. Details will be sent out this weekend on how I will proceed with the 3K challenge going forward as I aim to make the trades even more accessible and easy to follow.
Have a great weekend!
The gap up in HAL is breaking my stop by a bit too much for me to leave right on the open today. I am going to let it play out for the next hour and look for a better exit. Given the jobs data and gap higher in the market, historical odds favor a reversal. Given some of the technical patterns in the market, that reversal may not come to pass but I would like to give it a chance.
So right now, I’m in 3 trades. Below are my thoughts concerning each one.
SDS: This was a top picker play on the market and so far has eroded a small value each day. I am keeping it on as a play for a potential market pullback. It is not a very big play so my relative risk is quite low.
CAT: My puts on CAT are making some money even as the market churns higher. For 3 days in a row, this stocks has opened higher only to give up its gains even as the market rises. If CAT holds true to other stocks that have reacted like this, it has 2 likely outcomes. The stock surges higher to play catchup to the market or is gets sold hard as the market pulls back. I expect CAT to retest its 200 day moving average before buyers step in aggressively but I am wary of a break of the 7 day moving average.
HAL: After being down .30 and looking really good this morning, HAL is trading up .40. The reversal comes on news out of Platinum hedge fund that it is one of their cheap stock picks. The stock is .25 away from yesterday’s highs and I will be forced to leave if the highs break.
Tomorrow comes another jobs report. Right now, I am admittedly anxious about my trades as most indications still favor the bulls in the market. That said, my positions have the best possible technical setups for playing the potential downside of the market. The reward potential if the market breaks lower is very high so I am willing to take the risks.
I am buying some 30 MAR 42 puts on HAL at 1.55. Looking to use today’s high as a stop which puts this trade at about 40% risk. This gives me about 60% of my account invested which is a bit high for all the mixed market signals but the reward potential is very high if the market gets any kind of jolt.
I am holding SDS and CAT overnight as well and FCX. I had written FCX off, but with a pop today, there is some value coming back. Still need another good surge to start looking at pulling it off.