The 10% Club - Lets Make It Happen

[Volatile22]

Howdy there guys and gals! This thread is for all those who want to participate in the "compounding interest strategy" or the "10% gain strategy" what ever you want to call it. This strategy has been discussed many times in the past and was brought up again by thegreatgate in chat the other day. I wanted to create a thread so we can all support eachother and slap one another if we get out of hand and try for that home run!

The basic idea(fairly self explanatory) is you start off with $500( it can really be any amount you are comfortable with) and take profits at moderate gains(typically 10% gains). The idea is to be very strict in your trading and to bash down the ID (pyschology term!) in you and to keep yourself from always trying to go for that home run. Its the power of compounding interest!!! This is also some good practice that will build patience, steadiness and strong "market will".

I am in on this as of today. Anyone else who wants to join up please do!

oh and gate if you could, when you see this, provide that spreadsheet you created the other day that would be awesome!! According to that sheet it will only take us 80 or so trades starting with $500 and 10% gains each trade to get to $1,000,000. Yes thats 1 million dollars!

Thanks and good luck to us all!

[CaptD]

OK I'm in and suggest that we also consider Selling short, then buying as some of the charts look like the slope of Mt. Everest!

[ckkoster]

Sounds good to me as well !!!! Would love to participate in this one, I need a good slapin !!!

[thegreatgate]

[mike_d]

i jusr funded my account after being away from teh market for so long and this should be interesting so im in!!

[Magn3tar]

Hell, I'd be happy with 100,000

This will be fun.. I pray YRCW goes up 10% so I can be on step 4/81 of my million! haha

[BadThad]

HEHEHEHE.....these are fun, we had one at the old marketmillionaires forum. Unfortunately, nobody even came remotely close to one million bucks. It's definately a good method, but it's REALLY had to stay on track and MM's can screw you with stop losses.

I think part of the problem people had was trying use pennies. I'd stay away from them, there's plenty of beaten down small and mid caps to start with $500. If you guys stay away from the pinks/OTC's, you might actually be able to make this work...just MHO.

Good Luck!

[Magn3tar]

If anyone wants to start fresh w/ $500 sogotrade gives you 100 free trades for 30 days, hook me up with a referral also and I get 25 more free trades...

https://www.sogotrade.com/Setup/Default.aspx?rf=349223

[CaptD]

It will be interesting to watch the buzz this Club creates and also the number of readers that start following it! If it gets really popular we may actually "lead the " the stock movement on our picks!

WHEN (not if) we really start making a number of 10% plays, then we should consider starting a separate website, because the World will be knocking at our door!

Perhaps we should give each member a number that relates to the order in which you joined the club vs those that already are members; with the first (dozen?) being "Founders, One of The Board Members or Plank Owners"!

Get ready to

[Leo38Cheng]

i'm in!