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Running an experiment with a $3,000 account on Tradeking

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Just to see what I can turn $3,000 into. Just something for fun.

Bought 500 shares of UWTI at 3.35
Bought 500 shares of UGAZ at 2.31

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Only rules for my experiment is not to violate the daytrading rules and no options contracts. Ok to use margin, but only for settlement purposes, not for increased investment amounts. So I can only trade $3,000 plus whatever I earn.

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Going out for a few hours. Limit orders set for 3.70 and 2.55 to sell UWTI and UGAZ.

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Real life situation occurred of not being around to make sell decision yesterday, but that is part of the deal. Holding tight on both of these for now.

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My goal will be to get to $5,000 within a year. Then I'll restart the experiment with $5,000 and shoot for $10k in a year. Then $25k, $50k, 100k, 250k, 500k, and then 1M. But first things first: get to 5k.

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Thinking of selling the oil and putting that into gas or silver.  Maybe after I hit the $5000 milestone, I'll be able to buy 3 positions instead of just 2 with the $3K since commissions eat up too many small positions. Interestingly, I don't want to buy any more ugaz below $2 because of the high commissions on below $2 equities.

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Sold UWTI, 500 shares for 2.60.
Bought 900 shares UGAZ for 2.01.

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Current position, 1400 shares UGAZ at 2.13 average. Limit order set to sell UGAZ for 2.34, 750 shares.

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Sold 700 shares from 2.13 average +$37 profit, but more importantly, didn't want all eggs in one basket before report. Sold at 2.19.

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setting limit order to buy another 500 shares of uwti at $3.31. Will see if it hits.

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UWTI still didn't hit yet. Sold remaining 700 shares UGAZ at 2.23. No positions currently.

Current account $3,217.13.

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Bought 101 shares USLV at 16.50.

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Bought 725 shares UGAZ at 2.10.

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Tradeking account showing $3203.39 as of the time of this post.  July 17th (1 month goal) to stay on target for $5,000 for 1st year is $3,166.67 ($5000-$3000 = $2000/12 months = $166.67 profit).  Ahead of schedule, but would like to get a 1 or 2 month buffer going by then, with some luck.  More capital available, the better obviously - going to be slow going with these little $1500 positions after commissions, but hopefully I get there.

The plan is to sell either UGAZ or USLV when up at least 5% from purchase and buy the one that is down or alternatively buy some UWTI to diversify.

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Phew, finally sold those UGAZ shares from 2.10 to 2.21. USLV at 16.50 101 shares still out there. Took UGAZ money and placed a limit order for USLV at 15.75. Will see if it hits. Current balance 3232.44. Ahead of schedule for July 17th goal, but hope to get some buffer.

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Oh man, forgot about the higher commissions for below $2 per share on tradeking.  Anyways, bought 810 shares of UGAZ premarket at 1.97 (1.99 average due to commssions, dang!).  

I, er, did that on purpose, just to show you that you could make this work even if you make some mistakes.  Um, er, that's it.  Razz

Anyways, sell set at 2.07 limit for now. Just looking for a quick $50 addition to the account. More capital, the better and every little bit helps.

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Tempted to sell all and be fine with $3270, which would be a new record for the account and call it a day.  But patient side of me is saying to wait until 3334 to get me above the August 17th goal to give me some breathing room.  Just need either UGAZ or USLV to pop. Would like to at least be slightly profitable on the silver trade before exiting.

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double post



Last edited by Virginiabob on Tue Jul 07, 2015 7:53 pm; edited 2 times in total

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Well, I'm officially back to $3012 after that fiasco of a day. Still holding same 2 positions in UGAZ and USLV. Pretty sure both will recover in the short term.

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At $3018 right now. Need $3166.67 by July 17 to stay on track. Just need either silver or gas to turn around. Both would be great!. If only one turns profitable, I'll use the proceeds to buy more of the other depending on the situation of course.

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Woohoo back above $3100, at $3113. Still need a pop tomorrow on silver or gas.

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Back at $3200. Waiting for 2.07 UGAZ.

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Woohoo UGAZ executed. bought 810 shares 1.97, sold 2.07. minus commissions. Now I have some spending money - what to buy next? was thinking silver, but it is already up a bit. may just stay patient.

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bought 250 shares NUGT at 6.60.  Target 6.93.  USLV target 17.23 still from 16.50.   Current account balance 3237.  Goal is 3166 by July 17th so ahead by $70.  Hopefully, get ahead by a full month soon.

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back at 3270 again, tied for record

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