Thank you to moomoo for organizing another paper trading competition!! I will be posting my weekly updates here. This time I will be using a buy and hold strategy since I have had more success with it in the past. Hopefully everyone is able to win some cash rewards and get better at trading. Wish you all best of luck and happy trading!!
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Thank you for hosting this paper trading competition, Moomoo!! Wish everyone best of luck!! I am new to this trading app and so far really like the vibe of this community and the availability of level 2 data. I will try my best to update my progress in this thread.
Our goal is to score some cash rewards. To get the maximum cash reward (i.e. $100), we need to get +20% return in around 2 weeks time. This is quite a difficult task and we definitely need luck to be on our sid...
Our goal is to score some cash rewards. To get the maximum cash reward (i.e. $100), we need to get +20% return in around 2 weeks time. This is quite a difficult task and we definitely need luck to be on our sid...
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Jason FungOP : Week 1 updates:
I allocated my capitals on 3 large cap, blue chip stocks ($Berkshire Hathaway-B (BRK.B.US)$, $Visa (V.US)$, $MasterCard (MA.US)$) last Friday. My account balance was in the red slightly when market closed on Friday. Nothing too concerning since this time the paper trading competition lasts for a month. I am confident about my picks since these are all very large and stable companies that have a wide moat.
When the market opened today, most stocks are up and I am able to make a profit when it closed. I am happy that I am off to a pretty good start. As I mentioned before, this time I will be using a buy and hold strategy. So, my portfolio won't really change much on a day to day basis. If there is any change, I will surely update you guys here. That's all I would like to share. I will provide my updates again in week 2.
Jason FungOP : Week 2 updates:
Last week had been a pretty good week. My 3 holdings all went up and I was making a profit (+2%) overall. I also achieved daily positive returns in 4 out of 5 days. I am getting close to winning my $10 cash reward. Hope I will get there this week.
This week the market had started off pretty weak. From Friday to today I gave back all of my gain and I am currently down (-0.25%) overall. I will remain patient for now as I should have faith in my picks. I may consider selling my positions if things don't improve as the week progresses.
Jason FungOP : Week 3 updates:
It was not an eventful week for me as my portfolio has not been gaining much momentum since last week. I am still up slightly (~$70) overall at market close today. So I can't really complain. On a positive note, I won my first $10 cash reward by achieving a positive daily return for 5 days. Thank you moomoo!! I am currently 2 out of 5 days for my next $10 cash reward. It would be very sweet if I can win another one before the end of the paper trading competition.
For this week I am going with the same companies again. I still have faith in them and also I would like to know how my buy-and-hold strategy would turn out in the end. Wish me luck!!
Jason FungOP : Week 4 updates:
Last week was a productive week as I was able to achieve a positive daily return for 3 days. And today I won my second $10 cash reward. Thank you moomoo. Although I am no where close on the leaderboard, I am quite satisfied with my result and could not have asked for any better.
Earlier today I exited from all my positions to ensure I will get my positive daily return when the market was still up. Now that I got my cash reward in the bag, I can afford to take more risk and see how far I can take my portfolio until the end of this competition. I will check which companies will be announcing their earnings this week and pick a few that I think will announce a great earnings and provide strong guidance. I will try to update you guys by end of this week. Wish you all best of luck and happy trading!!
Jason FungOP : Week 5 updates:
I didn't end up buying any companies the day before their earnings. I bought a previous stock back ( $Berkshire Hathaway-B (BRK.B.US)$) and also dabbled with $Apple (AAPL.US)$ and $Microsoft (MSFT.US)$. I closed all my positions yesterday and in the end I didn't make any profits and was slightly down compared to my initial account balance. It was still a fun experience participating in this paper trading competition. I got my cash rewards and could not have asked for any better. Thank you all for reading my post and I will see you guys in the next one.