I am a Virtual Millionaire
Frank Austad, Virtual Millionaire
I am a virtual millionaire!
And you can be one, too. It is really easy. Let me explain:
By “virtual millionaire”, I mean a person who picked up a portfolio worth over a million imaginary dollars by registering a membership on http://www.virtualstockexchange.com/.
Then with that virtual million you can buy and sell stocks, bonds mutual funds or simply let it sit and earn virtual interest in a virtual money market account. It won't do a thing for your bills, but I have found it to be a great learning tool that was a kick in the butt to play with. In time I found out how to make some serious virtual money using a few tools I had picked up over time.
One of the easiest and cheapest to use was the stock split newsletter that Investment House (http://www.investmenthouse.com/) sends me on a regular basis. I have been using them almost exclusively since I lost my job and could no longer afford the subscription to Channeling Stocks.com ( http://www.channelingstocks.com/ ). Which is too bad, because I found that to be an incredibly valuable resource.
If this blog turns into a full time business like I hope it will be then I will probably re-subscribe and start sending you my thoughts on that.
One of the reasons why you probably surfed over here, is because of my claim that you could make FIVE TIMES your initial investment outlay in just a few months time if you followed the example of this exercise. That’s probably over blown as we are only talking about hypothetical performance of a virtual portfolio of one million imaginary dollars.
I’ll tell you just about what I have been doing to get my imaginary portfolio to the top of the heap (if you call about $5.9 million “top of the heap”). I try to get issues that are on their way up due to some factor – usually a stock split. I buy these gems in blocks of a thousand or more while their charts and share prices are trending upward. I sell half off when I see a great deal of success. I will also sell all shares when the poor things turn out to be lumps of coal in Santa’s toy bag.
One of the most important things I wish to warn you against is not to make the mistake of simply taking my advice straight to market. I appreciate your trust in me, but both of us being mortally fallible could cause some difficulty I don’t care how much money you think you have. I strongly recommend following my example and making your first portfolio a virtual one. It’s a lot easier to tell your spouse, partner or drinking buddies how much imaginary money you lost. What really sucks is telling your loved ones how much money they would still have if they would not have trusted you in jumping into that Enron company.
Here’s another thing: I very rarely buy mutual funds either virtually or with real money. I don’t think there are any mutual funds that do any better than the S&P, NASDAQ or DIJA. You could accuse me of plagiarizing the Motley Fool (http://www.fool.com/), but pick up a newspaper sometime. Mutual Funds are out. Another thing; most of my recommendations become obsolete pretty quickly too.
I usually sell issues within a couple of days after I first pick them up. I rarely hold onto anything for longer than a month or two. It’s one of the reasons why I have to keep up a daily blog to keep you informed as to where I am putting my play money.
Keep up with this site and see where my money goes!
There is more coming! Next: Proof of my accomplishment.
Want to try your hand at investing? Great! Just remember this:
(Legal ALL CAPS CYA section) HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS,SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSESSIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARPDIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND ACTUALRESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THATTHEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. INADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK ANDNO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THEIMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE,THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULARTRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTSWHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARENUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THEIMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BEFULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCERESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADINGRESULTS.Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that Frank Austad endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated. However, Frank Austad may receive compensation from the server sites which are provided through links.
My apologies and credit goes to the great writers of Acommodity Free Trader (www.acommodity.com), whom I stole the preceding from. The wording was generic enough that I could cut, paste and edit without a great amount of legal liability.
Or not.
Write me if you find anybody that could use a helping hand with his or her computer or electronic project.
Until this blog hobby of mine becomes full time I am still looking for work.
Write me if you have an opinion toward the content of this site. Any comment, good or bad would be appreciated.
I am a virtual millionaire!
And you can be one, too. It is really easy. Let me explain:
By “virtual millionaire”, I mean a person who picked up a portfolio worth over a million imaginary dollars by registering a membership on http://www.virtualstockexchange.com/.
Then with that virtual million you can buy and sell stocks, bonds mutual funds or simply let it sit and earn virtual interest in a virtual money market account. It won't do a thing for your bills, but I have found it to be a great learning tool that was a kick in the butt to play with. In time I found out how to make some serious virtual money using a few tools I had picked up over time.
One of the easiest and cheapest to use was the stock split newsletter that Investment House (http://www.investmenthouse.com/) sends me on a regular basis. I have been using them almost exclusively since I lost my job and could no longer afford the subscription to Channeling Stocks.com ( http://www.channelingstocks.com/ ). Which is too bad, because I found that to be an incredibly valuable resource.
If this blog turns into a full time business like I hope it will be then I will probably re-subscribe and start sending you my thoughts on that.
One of the reasons why you probably surfed over here, is because of my claim that you could make FIVE TIMES your initial investment outlay in just a few months time if you followed the example of this exercise. That’s probably over blown as we are only talking about hypothetical performance of a virtual portfolio of one million imaginary dollars.
I’ll tell you just about what I have been doing to get my imaginary portfolio to the top of the heap (if you call about $5.9 million “top of the heap”). I try to get issues that are on their way up due to some factor – usually a stock split. I buy these gems in blocks of a thousand or more while their charts and share prices are trending upward. I sell half off when I see a great deal of success. I will also sell all shares when the poor things turn out to be lumps of coal in Santa’s toy bag.
One of the most important things I wish to warn you against is not to make the mistake of simply taking my advice straight to market. I appreciate your trust in me, but both of us being mortally fallible could cause some difficulty I don’t care how much money you think you have. I strongly recommend following my example and making your first portfolio a virtual one. It’s a lot easier to tell your spouse, partner or drinking buddies how much imaginary money you lost. What really sucks is telling your loved ones how much money they would still have if they would not have trusted you in jumping into that Enron company.
Here’s another thing: I very rarely buy mutual funds either virtually or with real money. I don’t think there are any mutual funds that do any better than the S&P, NASDAQ or DIJA. You could accuse me of plagiarizing the Motley Fool (http://www.fool.com/), but pick up a newspaper sometime. Mutual Funds are out. Another thing; most of my recommendations become obsolete pretty quickly too.
I usually sell issues within a couple of days after I first pick them up. I rarely hold onto anything for longer than a month or two. It’s one of the reasons why I have to keep up a daily blog to keep you informed as to where I am putting my play money.
Keep up with this site and see where my money goes!
There is more coming! Next: Proof of my accomplishment.
Want to try your hand at investing? Great! Just remember this:
(Legal ALL CAPS CYA section) HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS,SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSESSIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARPDIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND ACTUALRESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THATTHEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. INADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK ANDNO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THEIMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE,THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULARTRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTSWHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARENUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THEIMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BEFULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCERESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADINGRESULTS.Any links provided to other server sites are offered as a matter of convenience and in no way are meant to imply that Frank Austad endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated. However, Frank Austad may receive compensation from the server sites which are provided through links.
My apologies and credit goes to the great writers of Acommodity Free Trader (www.acommodity.com), whom I stole the preceding from. The wording was generic enough that I could cut, paste and edit without a great amount of legal liability.
Or not.
Write me if you find anybody that could use a helping hand with his or her computer or electronic project.
Until this blog hobby of mine becomes full time I am still looking for work.
Write me if you have an opinion toward the content of this site. Any comment, good or bad would be appreciated.
posted by Frank Austad at 1:03 PM
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