Have you tried trading stocks? Well, I have and it’s really tough and risky. But it seems it’s not like this for everyone, especially for a New Jersey kid, who turned $10 000 into $300 000 in a matter of a year. We are talking about an enormous return on investment here. This growth is also impressive because most of the hedge fund managers in the world don’t even hope for such a return. And would you believe this, the teenager made many of his trades using his smartphone while in class, or during the lunch break at school. Here is how it happened…
Connor Bruggemann was an ordinary 16 years old teenager from New Jersey. Well, maybe not too ordinary, because this kid had managed to save around $10 000 for the last two years, working as a waiter and on some other low-qualification jobs. Then he asked his dad to open for him a trading account at an online broker called Etrade. The young Bruggemann invested his money in some blue chips, but this didn’t bring some good return on his investments. This is how he decided to sell all his shares in big and established companies and invest the money in the so-called penny stocks. These are the stocks of companies that are traded at really small prices, the price of one share is usually several cents (pennies), and this is where their name comes from. Such companies usually have some serious problems, this is why their share price is so low. But investing $10 000 dollars in such high-risk businesses turned out to be a really lucrative investment strategy for Connor. His money quickly became growing and he started making thousands of dollars. Many of the trades he executed while attending school, were under the desk, from his iPhone. He is at a high school after all.
The young Bruggemann has had an interest in earning money from a very young age. He started working at 14 and has been saving since then. He tried putting his money in a bank account, but he was not happy at all with the returns there. He even tried betting money online, but his parents were not really happy about this when they learned about the activities of his son. One day his grandfather advised him to try the stock market. This is how the young stock trader began his career.
One of his best trades was made with shares of a corporation called American Community Development Group Inc, Connor took advantage of a rumor, that the CEO of the company had plans to buy back shares. Bruggemann bought around 3 million of them at $0.003 per share and after a few days, the shares buyback program was officially announced. The price quickly began going up and in no time the young investor had made a big profit. He closed his position at a price of 4 cents, cashing in more than a hundred thousand dollars in profits. This was just a fluke maybe, but since then, Connor has made many other successful trades. He managed to increase the amount in his account to $300 000.
Here is how the power of technology today reveals new opportunities. Trading stocks on your phone were impossible just a few years ago, but today everybody can do it and some people do it well.
Please, note that trading is really risky! Don’t try this at home, if you don’t really know what you are doing. There is a big risk for you of frittering away your money.
Daytrading On The Stock Market
Day trading stocks is becoming increasingly popular for investors who want to be involved in the stock market but don’t have a lot of money to invest. Day trading stocks give investors more flexibility and control over their investments, including allowing them to hold positions for short periods of time and often buy and sell on the same day.
Day trading stocks involves buying and selling stocks on the same day, so traders need to ensure they’ve done their research and have an understanding of what they’re buying and selling before they start. Trades are typically made with a small fraction of the capital or margin needed to purchase the stock. This allows traders to take advantage of short-term price changes in the stock market while reducing their risk of losses due to long-term changes in stock prices.
To be successful, day traders need to recognize good entry points, set stop-losses so they don’t lose more than intended, keep track of news developments that can affect a stock’s price, choose the right stocks for their investment strategies, have an understanding of charting and technical analysis tools, know when it’s time to exit trades and diversify their portfolios for risk management.
Traders should also understand any potential tax consequences associated with day trading stocks as well as any potential fees associated with executing trades. Day trading can also be a stressful and time-consuming pursuit that requires traders to constantly monitor market conditions, and losses can add up quickly if not managed effectively.
Day trading is not suitable for everyone, but it can be rewarding in the right hands if proper research is done and risk is managed carefully. Those interested in day trading stocks must take a professional approach if they wish to make it successful so that they can enjoy maximum returns while minimizing losses.
Day trading is a very high-risk occupation and if you don’t have enough knowledge or experience, you can use all your money in your account!
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