We are over our $50,000 mark and right on schedule at the halfway mark! Not bad considering we began with our aggressive $10,000 virtual portfolio last year, which we ran up to $36,630 - put that $11,630 back in the virtual bank and began this year in February with a $25,000 Virtual Portfolio.
The last major update to our virtual portfolio was back on May 21st. We do send out Alert updates on a regular basis and discuss the trade ideas daily in Member Chat. Now we can start July off with a clean $50,000 Virtual Portfolio with the same goal - to double up in 6 months but sticking to the same small allocation hit and run trade ideas that we used (mostly) in the first half. I urge you to read the original post and the update if you haven’t already to get an idea of what we are trying to learn by following this "hyper-aggressive" virtual portfolio model.
As promised, it has certainly been a wild ride and our last Alert Update from June 23rd left us off with $95,072 worth of closed transaction and a virtual net balance of $45,972, with about $49,000 worth of unrealized losses in our still-open positions.
Getting that close to goal with a week to go put us in shut-down mode and we didn't do too much trading last week but we did close the following transactions, which amounted to mainly closing out all of our losing trades for the year, charging them off against our $95,072 worth of winners that we already cashed out. Our goal was to get those losses under $45,000, so that we'd be left with $50,000 cash:
As usual, FAS is our little cash machine, making us $2,940 in sales on the week but this time we are taking our loss of $32,320 off the table as we finally close out the trade.