Double To A Million - Step 19 - DTAMP's Big Day

How To Double Your Way To A Million In 28 Steps

After messing up on that last trade I was a bit hesitant to jump in again even though there were about three times I wanted to go short and just couldn't pull the trigger on the trades. I missed up to 30% profits in the process. The Russell 2000 was very volatile over the last few weeks but after looking at the last two days actually it has been quite tame in comparison.

On September 17th, before 4:00pm and the close of the market I was trying to decide wether to take the plunge. I kept bringing up the trade and then not following through. With 20 seconds left in the trading day I pushed the button and made the trade.

I was now going long in a market that has been coming down and it looked like it could continue to collapse as a number of major financial institutions bit the dust.

But I had a strong impression that it could rally, if only a small amount, and I could, perhaps, pull out some percentage points. But it was a big risk. It was definitely like trying to catch a falling knife.

The next day started well and early on I was up nearly 7 percent on the trade. (See Intraday chart below, Number 1)

The mutual funds I trade have a multiple of 2.5 so for every percentage point the Russell goes up, it goes up 2.5 percent for me.

But after George Bush gave a speech, the market started to retrace downward and I watched my gain start to disappear. (No. 2)

Now, since it is a mutual fund I cannot get out until the close of the day so there is little I can do accept hold on for the roller coaster ride. My possible gains turned into a possible loss. I was a very unhappy person.

I gave up and went and ate lunch and watched reruns of McHale's Navy in black and white to try to take my mind off what looked like could be a disaster.

For awhile there I thought I was going to end up with a loss for the day but a rumor came out that the Government was going to take a huge step in attempting to rescue the financial situation and the market started to take off, ending the day with the Russell up BIG at the close. (No. 3)

It took 17 minutes for it to settle out and went up another half a percentage point during settlement.

The day ended well with the Russell 2K up 6.99% and me being very thankful I hadn't shorted the market.

Here is a daily chart of what happened. The rumor of the large Government intervention was being denied and I wanted to capture my profits so I exited the trade. I told someone that if it is more than a rumor then the market would definitely go up the next day. But I wasn't taking any chances.

When everything was finished and my brokerage firm reported the final situation I was up 17.62164% for the day. A big day!

Here are the details of the trade.

DTAMP Equities Plan Report:

(DMF = DTAMP Mutual Fund (Long) )

09/17/08 - Buy - 47.547 shares of DMF @ $31.78 p/s - Total $1511.04
09/18/08 - Sold - 47.547 shares of DMF@ $37.38 p/s - Total $1777.31
Total ($266.27) - ($0.00) Fees = ($266.27)Net Gain of (+17.62164)% in the Amount of ($266.27)

Present Stake: $1777.32

Motto: It is only "one" found penny.
Slogan: As Simple As Finding A Penny.

Regards,

Xinfinitum


This Doubling Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. At the beginning you start by finding a penny and then double a penny until reaching $1,000,000.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan
"For The Next Chronological Post Click Here"