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Online Share Trading

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R260k paid for brokerage and made R600k

Someone on Sanlam Itrade made 600k after paying brokerage of 260k in one week. How was this possible? He must be a full time trader. If this true then what trading software and tools is he using. Is it impossible to make the above, by trading in shares only or is this accomplished by using geared instruments. Lets hear...
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Super Contributor
is there a link that can be posted that shows the leaders on these competitions or do you have to be registered to see their progress?
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Frequent Contributor
You have to be logged in. But why not register ? It doesnt cost you anything. Just be aware of the following: "The Leaderboard of the Top 100 portfolios will be hidden from Friday morning until the winner is announced. Watch the Market Update with Akaash on Summit TV every Monday evening at 20h10 for the announcement of the weekly winner and how he or she did it."
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SANLAM Itrade is not very realistic. Other threads have already discussed this. I got an email showing how one of the top 10 players made his money. Well, there was a penny share that he was buying and selling contiously. he would buy 100k when it reached 60c and sell when it reached 62c. He did this the whole week and made like 50k in profit... If u know anything about shares, you know this is not possible because of volumes....There are no geared instruments... Another thing that is stupid is that you can trade after hours. Ie. You can buy/sell at 11pm when the American markets close and give direction. SO if a share is sitting at R100 and the dow closes 2% higher, u know that share will open much higher. SO you buy at 11Pm the night before. In real life obviously you cant do that......... (so i think the organisers have put the prize money too highly to attract interest from too many traders...... It is not possible to make that much money in real life unless u are using geared instruments. And people just starting out investing wont be able to see this.....
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Regular Contributor
I entered this competition mainly to test their platform, and of course for the chance to win some money if I got lucky. After seeing the way this competition was run, and the attitude of the head of online trading when I told them that the way they're running the game is unrealistic and leaves their credibility lagging, I've decided to stick to SBK OST for now. This game was an absolute joke.
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