I recently made a post suggesting a paper trading contest. That post got me a handful of likes which I appreciate. I didn't get any comments, so I'll start my paper trading experiment by myself. If any of you want to get involved along the way, just let me know in the comments.
I signed up for a paper trading account with webull.com , they asked for all of the personal information that I would expect to give for a regular account attached to my bank account. They even screened my account
After a very short period, I received an approval email.
It looks like a regular account and I've been very careful to not link my bank account and to make sure that my trades are all in a paper trading account.
Several months ago, my wife told me about an app called Autopilot where you're able to link your brokerage account to follow the investment moves of politicians, hedge funds and others. They explain how they do it and for the hedge fund that I've been following they just take the top 15 holdings of the company and update based on the quarterly 13f filings. I've been making the same adjustments on my own without paying Autopilot to do it for me. The account has done well and is up about the same as the S&P. I've also been thinking about another investment strategy after reading The Intelligent Investor by Benjamin Graham. The basic plan is to run a screen on the S&P for those stocks with the lowest price to book ratio. You can see my notes on this at the top of the page from when that last hedge fund 13f came out last month. Towards the bottom of the list you may notice the ticker INTC which recently took a big jump when the government took a position and an even bigger jump when NVDA took a position.
So, rather than running that list from last month, I'll repeat the screen.
The stock screener that I use is tradingview.com . There are currently 17 stocks in the S&P 500 with price to book under 1. So I'll start with $1,000 worth of each. I'll plan to give periodic updates about how they're doing and rebalance when the hedge fund I'm following issues their next 13f in November. It's too bad that I didn't start this before the jump on INTC, but it's price to book is over 1.3 now.
I'm still getting used to the format of Webull, but I have my orders in. Apparently their paper trading account starts you off with $1M.
If any of you have advice about paper trading or recommendations, I'd love to hear them. If any of you want to jump in and do a friendly competition, let me know.
