Quote:
Originally Posted by Hog's Gone Fishin
Question: How long would it take to make 201 trades that avg a 3.5% return ?
There's tons of stocks that are volatile enough for a 3.5% return during the coarse of a week if not a day.
For example TSLA just today opened at $897 .If you set a buy order at a 1% discount you could have picked it up at $888 and then set yourself up a standing sell order with a 3.5% swing at $919 and accomplished your goal.
As of right now the TSLA high /Low today is $881-$932 Thats actually a 5.7% swing today.
So my thinking is if you can make 201 trades and AVERAGE 3.5% assuming some will be less and some will be more , it will turn $1000 in to $1,000,000.
This sounds too easy. What am I missing other than stocks don't always go up. LOL
Could this be done in 3 years ?
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Interested to hear what others say on this. The one major flaw I see is the short term capital gains tax really hits into your earnings unless you are doing this from a Roth or other tax advantaged account.