This is an exciting episode for us! We’ve been invited to join in a trading competition, hosted by our friends at Stake (if you haven’t already, you must sign-up – you can trade stocks in the US without paying brokerage, and they’ll swing you $25 to start you on your way, just head to www.equitymates.com/stake), and we’re up against some of the best financial journalists in Australia.
The rules are simple. We’ve been given a small amount of money to trade through the Stake platform, and can only buy sticks from the US. We have 2 weeks to make as much money as we can (all money going to charity, chosen by the winner). We must make a trade everyday, or be able to justify why we have decided not to trade, and we must trade at least 3 stocks over the two weeks.
We know nothing about technical analysis trading. We invest with a long-term approach so we’ve never had to think about how to make trades that will get us a return in 2 weeks! It’s going to be so fun! We’re going to record the whole two weeks. Each conversation we have together about what to do, our strategy, which stocks to buy, we are going to record, and by the end we’ll have an awesome package to share with you guys about an intro into technical analysis. So stay tuned!
In this episode you will learn:
- How we came to choose our first stock for the trading competition we are in
- How competent we feel with technical analysis
- Where the ‘ticker’ originated from
- About the capitalist of all capitalists – JP Morgan
- About the history of one of the most famous finacial streets in the world – Wall Street
Stocks and resources discussed: