So I’ve spent the past few days experimenting with afterhours trading. For those who have no clue what that term is, it’s basically trading stocks after the market closes (standard 9:30 A.M. to 4:00 P.M. EST). A lot of fellow investors have previously warned me about the high risks associated with afterhours trading, but I decided to take it for a spin. Can good money be made on futures?
Not really, unless you’re really damn good. Allow me to explain why afterhours trading is so risky:
1. You don’t have the inside scoop - with the NYSE/Nasdaq filled with tons of traders located in NYC itself, amongst the brightest of investors in the world, coupled with a handful of advanced prediction/news tools not available through the standard online brokers, any money to be made is usually grabbed up by the elite traders in the afterhours arena.
2. You’re trading directly with other shareholders - there’s no middle man. Trading afterhours is literally trading between other shareholders that use online brokers. Investors set the bid price, shareholders set the ask price, just like day trading. The catch is that since the actual company’s monetary status is not involved in affecting stock prices, afterhours trading makes no affect on the “real world” value of the stock. It’s all in your mind, really.
3. Low trade volume, poor liquidity - low trade volume (especially on micro/small/mid-cap stocks) makes for an extremely illiquid platform for investing. There’s no guarantee that you will be able to find a buyer for your shares at your asking price: there’s simply not enough people to assure each trade goes through, even if you set your sell order under the lowest ask price!
4. Green futures doesn’t necessarily mean a good day to come - since your dealing with virtual value of stock, essentially your just dealing with investor confidence. Though most companies tend to release big corporate fiscal news after normal trading hours, the actual impact on the real world stock value often cannot be felt till the next day of trading. Not to mention oil prices, Fed news, etc which can easily sway what happens to the stocks closing price the next day.
5. Quotes are just unreliable - with no actual trading floor in session, a low volume of traders, and a plethora of technical issues with the online cross-broker trading, you never really know what the stocks realtime value is. Quotes are often delayed heavily, and lots of orders are not followed through. Remember to set a limit price; setting a sale/purchase at market price in afterhours could cost you.
Have I made money afterhours? Yes, a little. But with a relatively small cash account (no, I don’t have millions lying around to invest), there’s really no point stressing over the pocket change.
Well, it’s kinda early in the morning to make a blog post, and I gotta run, but I awoke to 300 emails (200 from WordPress CMS informing me of unapproved comments, and another 100 from individuals supporting my case). Seems like my last blog post regarding FCPS’s crackdown on my proxy has sparked quite a debate (predominately one-sided, in my favor) online regarding student rights. I’d like to take a second to thank visitors from Fark.com for providing me with a blast of support and publicity regarding this issue.
Most everyone is suggesting I contact a lawyer and sue for libel/slander/rights. I will attempt to contact the various student rights organizations (ACLU, FIRE, EFF) and see if they can give me a hand in this. I will also try to acquire a copy of the email that was sent to nearly all the staff in the school and I will post it publicly when I get a chance to do so.
“FCPS information systems are operated for the mutual benefit of all users. The use of the FCPS network is a privilege, not a right. Users should not do, or attempt to do, anything that might disrupt the operation of the network or equipment and/or interfere with the learning of other students or work of other FCPS employees. The FCPS network is connected to the Internet, a network of networks, which enables people to interact with millions of networks and computers. All access to the FCPS network shall be preapproved by the principal or program manager. The school or office may restrict or terminate any user’s access, without prior notice, if such action is deemed necessary to maintain computing availability and security for other users of the systems. Other disciplinary action may be imposed as stated in the Fairfax County Public Schools Student Responsibilities and Rights (SR&R) document. FCPS implements Internet filtering on all FCPS sites in accordance with the federal Children’s Internet Protection Act. Schools will continually educate students on personal safety practices and effective techniques for identifying and evaluating information and its sources.”
and
“• Help maintain the integrity of the school information system. Deliberate tampering or experimentation is not allowed; this includes the use of FCPS network and resources to illicitly access, tamper with, or experiment with systems outside FCPS.”
My thoughts regarding this:
1. I did not attempt to disrupt the learning environment and/or network/equipment of the school. They could have easily just blocked my proxy (which, they have done so now, after the accusation) and called it a day. It’s not my responsibility to make sure students don’t access proxies while in class. Hell, this is what the IT dept. is paid to do, right?
2. I did not make the proxy while on school grounds, did not use any FCPS equipment to put the proxy online, and did not take any measures promote my proxy as a means for accessing denied sites in school. I simply put a website up on my private server in my free time at home, and told two friends about it (outside of school). They told a few others, who told some other students, who told the whole school, not me.
A few people have also suggested that though I am right, I am a “brat” for making such a monumental case out of this. Please do keep in mind that I did not try to instigate this case in any way; I did not tell people about the proxy while in class (until I was accused by the administration), I actually did not setup the proxy to bypass filters in school, and I may fail out of one of my tech classes because of my restricted computer access. Not to mention I now get looks walking down the hallway.
Speaking of looks, yesterday I went to the library to print out an essay for one my classes. As I sat down and used my friend’s account to access my email and print out the essay, a librarian, who definitely does not know my name/information (as I rarely go to the library, pft), walked over and asked me what my name was. I responded “Robert” and she told me I had to get off the computers now and leave the library. True story. No idea how she knew who I was, I wonder if my “mugshot” was included as an attachment to the mass email. You never know.
Many people have requested contact information for my school/school system (here is the website). As much as I am frustrated over this case, I really don’t want to disturb the personal lives of the administrators and IT staff of the school, and will not name names publicly, as I am almost done with high school anyways and I don’t need any reason to not graduate. Feel free to help me by expressing your discontent with the decisions of the administrators, but please, no threats and no drama.
When I was pulled into the office and accused, I made sure to let the administrator know that I will get the masses of the Internet to support me on this. “Go ahead and do that”, she said, with a smug grin. Thank you all for making this fight for rights and respect easier.
Yeah, yeah. I make websites. Once upon a time, I ran a huge network of over 50 proxy websites. They were cool and all, but eventually they absorbed a ton of server usage and, since there really wasn’t much of a ROI given that I couldn’t find an ad network that could fulfill the “should-be-doing-work-rather-than-browsing-blocked-websites” demographic, I wasn’t making sufficient money. The CTR with Adsense was hopeless, not to mention that each proxy, one by one, started getting blocked by the big guys. By ‘big guys’ I mean Websense and rest of the shit ton of “Network Security” softwares. So there really was no light at the end of the tunnel, and I shut them all down.
Anyways, just a few weeks ago, I made a new proxy. A private proxy, nothing of commercial value, but one that I, along with a small group of friends, would personally use. It was called “Afnani’s Moo Proxy”, and was located at robertafnani.com/moo/ (now offline, but if you really care you can check it out at robertafnani.com/mooold/).
Before long, a lot of people in my school, and even other schools in the area caught wind of it, and basically everyone at Langley HS started using it. How could I tell, you ask? Well, it’s kinda obvious with Awstats shows only a few unique IP addresses accessing the site, yet a shit ton of pageloads and gigabytes upon gigabytes of bandwidth usage. Great. I made a proxy on my domain name and now its the shit everyone’s talking about. I must be a badass now.
This is when everything starts to go raw. Just the other day, I was pulled into an administrator’s office (whose name shall be undisclosed), and slapped in the face with a possible suspension. I am accused of violating my rights as a student, and intentionally attempting to disturb the learning environment of students in my school.
I was accused of breaking the law. Of providing a means for students to do illegal activities in school. And I got all the blame. Supposedly, if students were reading instructions, and I quote, on “how to make a bomb”, I’m the one who should be facing criminal prosecution, as I’m the one who provided all the means for retrieving the information.
Of course, I tried to argue my way out of it. Proxies are perfectly legal to create. I can do whatever the hell I want outside of school, especially if it involves my job, which takes part mostly on the Internet.
Much to my dismay, however, apparently I have no rights at FCPS schools. I asked the administrator and the tech guy (who, if I may add, is a great guy, and not the one at fault here) to point out on the Student Network Access Agreement what policy/rule I violated. They refused to, because there was no law that made what I did ‘illegal’. I wasn’t hacking the network, I wasn’t dickin’ around with the hardware; I made a damn website, and no where on the entire agreement does it say anything about not being able to make websites outside of school.
Being the one with lower hand, I had to submit to their will, so as to not get into any more trouble. In the end, my computer account at school was banned, but the verbal abuse and harassment to me was worse. Hell, I was pulled out of class during my final exam for the first semester of Philosophy, so who knows what grade I’m going to be getting on that test. And I was facing a possible suspension from the school premises for doing this.
I’m the little man in this situation: my school thinks they have all the power in the world, and there’s nothing I can do about it. I am now forced to take all my proxies offline, otherwise I face “repeat network abuse” and will get in a LOT of trouble (recommendation for expulsion, anyone?).
Langley High School has no right to do this. Suppose “robertafnani.com” wasn’t the domain for this proxy. I’m damn sure the IT guys wouldn’t WHOIS the proxy and attempt to arrest/accuse the owner of commiting a crime. I feel as though I am discriminated against, and that my school’s actions against me were unjust. They’re abusing their power and if I can’t get any help from the press, then there’s no stopping this administration.
Worst part is that now I’m tagged as being a ‘computer hacker’ and a ‘potential threat’ to the school system. A mass email was sent out from the administrator who accused me of this to all the teachers, administrators, librarians, etc in the entire school, which basically says I’m a criminal and I need to be watched when getting within a 10-foot radius of a computer.
I find it unfair that Fairfax County Public Schools feels they can impose this kind of totalitarianism on me, I’m now a criminal for making proxies. For making a website. A legal website. On my private server. Outside of school. Great.
They say content is king. So it is, if you’re looking for search engine traffic. Linkbacks are supposedly just as important, but, once again, are good only for search engine traffic and a pocket full of visitors. Gathering traffic is not hard, hell, I could easily just buy traffic, but keeping users interested in your site or blog can be quite tough. Here are a few tips on how to do just that:
Interactivity - make sure to enable systems which allow viewers to respond to your content. For a blog or news website, a simple comments section can introduce a great deal of attachment between the viewer and your site. More often than not, a viewer who comments will return to see who else responds to their comments. Should someone have responded to their comment, there’s an even greater chance that same visitor will return for future discussion.
Don’t offer the same old frontend - many a times have I personally fell into this trap. By offering an open source CMS-based, run off the mill design and site, you open up doors which may lead to trouble in the future. Disgruntled users in search for power may grab your trade secrets and open up a site of their own, using your valuable past experiences, and even steal your own members. Also, it’s easier to hack and/or abuse a site which is built off a familiar system/design, then one that is exclusive. Furthermore, a competing site may use the same essential design, which destroys your capability to attain brand-ability and uniqueness on the web.
Controversy is king - I’m not saying you should become like Elliot Carver in the James Bond movie “Tomorrow Never Dies”, but you should definitely try to spice up your news. Catchy titles and entertaining content not only satisfy the news-hungry, but also enhance discussion and seriously bring users back. A site with strong news will have an even stronger community.
Don’t make your site look dead, or too alive - this one is a serious killer for starters, especially sites which focus around forums. Do not excessively post in your own forums. Do not have back-and-forth conversations with one or two members in your forum’s threads, a forum is for thoughtful discussion, not a casual conversation; we don’t need to know about your plans for the night with another member. Do not have more than a one or two administrators/moderators (especially in the beginning). Do not boost the cookie timeout for your forum’s “who’’s online” table or register fake accounts to make it look like there are more users than there really are on your site. Eventually, new members will catch on to that fact and will feel cheated, and leave. Focus on adding quality content to the non-forums part of the site and people will come, in time.
Unique news is good news - ensuring the exclusivity of your news/blog posts will directly affect the return rate of your visitors. If there are bigger, better sites covering your niche already, it’s going to be extremely tough to penetrate the market and advance in both search engines and in reality. Posting a piece of news even a few hours late is too late to be considered “news”. Unless it’s hot off the press, or made in-house, people will have no reason to stick around, unless they are your personal friends. Writing articles, reviews, and interviews can be a great way to build content that will keep users busy until you can get your act together with the news.
Keep your server running fast - I have read somewhere that most Internet users tend to stick away from sites that take more than 4 seconds to load. Though with external banner advertisements, that may be quite hard to achieve on your site (especially if it relies off a database/CPU intensive CMS), it would be a good idea to frequently check out the health of your server, specifically if it is a dedicated server. Try to keep the CPU usage at any given time under 5.00 (with 0.00-1.00 being your main target), and make sure you have more than 30% of your server’s physical RAM free. Investing in your server is investing in the future, as your site grows, so will your site’s processing needs.
With the onset of Web 2.0+ (how I like to call it), it’s important to make your site an environment for users to think for themselves and share their feelings, and maintain a high standard of functionality so readers don’t go elsewhere for their Internet reading.
Airline stocks rose today (CAL, NWA specifically) on hopes of oil prices dropping soon (Friday). Bond insurers like MBIA (MBI) and Ambac (ABK) also rose dramatically. It’s funny, MBIA and Ambac continue to show that even though they are competing corporations, as an industry, they work hand in hand. When one goes up, so does the other. MBIA went up today because company officials reassured investors that they have enough liquidity to make it out of the “mortgage crisis” that’s currently going on. Ambac shot up in suite. Unfortunately, I sold all my stock of MBIA yesterday. Should have held on to it a bit longer. Heck, the bond insurers were the reason the DJ was up in the triple digits!
Personally, I had my money in Sprint (S) today. It closed up ~3%, which really isn’t much, but considering the rest of the telecoms industry took a plunge, I’m happy. I have a burning sense that Sprint will continue to go up a great deal on Friday, so I’m holding tight to my shares.
I saw this video the other day on YouTube. It’s sure as hell a promo for Ron Paul and his respective presidential campaign, but it does show legitimate reasons why our economy is unstable.
Promotional crap aside, we are definitely in a state of recession. And the market is bound to “pop” someday or another, maybe in a few weeks, or maybe not at all. The Fed is working hard to attempt to curb the downward trend of the US economy, and I have a feeling we will pull through.
Before I jump into anything serious, thought I’d talk a minute about my watch collecting hobby thing. It’s something I’ve developed a taste for between my last blog update in mid-2007 and the present. I have to say, I’m addicted to collecting watches. I have a measly collection of, oh, five watches right now. Five nice, Swiss watches.
Here’s the two-tone DateJust, my favorite, and, most expensive piece at this time. I actually plan to sell it soon, as well as my other few, as I want to buy a Hublot. They aren’t as internationally known as Rolex, but also not as “bling”, which actually, for me, is a nice thing. Ever since I got robbed of the Breitling (oh, wait, never got a chance to tell that story because my blog was down, LOL), I’ve found the need to downsize my dressing, especially in public.
Most people find my love for high-end timepieces a little bit eccentric, hell, most people double take (especially at authorized dealers) that a kid is sportin’ such an expensive piece on his wrist. But actually appreciating the precision and quality that goes into a Swiss chronometer movement is what I’m in the hobby for. Not just to bling-blang my way down the sidewalk, as some may stereotypically think.
So, it’s 2008, and about a month into it at that. One of my New Year’s resolutions was to re-start my blog. Yes, it has periodically come and gone for just over three years now. I tend to spread myself too thin on too many projects at once, which tends to either lead me to extreme procrastination or failure in abandoned projects. Might as well let the truth be told; there’s no use in hiding my personality when this is now the… fifth grand re-opening of this blog. Yeah, I’m unreliable.
But now, over the course of the three years that have passed, I have also learned a hell of a lot. And now that I feel I can assign the proper dedication needed to maintain the blog, I figured it’s about time.
For those who don’t know me, my name is Robert Afnani. I make websites. I run a few small companies. I make various sorts of wild investments, from stocks to condos, to spur-of-the-moment startups. I am very proud of my last name, Afnani. Most of my friends and co-workers don’t even pay attention to the fact that my first name is Robert. I’m just known as Afnani, which is cool in my book. I am also what some would consider young, especially considering the markets, niches, and careers I delve into.
I love technology, Internet, high-end watches, and most of all, making money. I like taking risks, but only if the potential reward is really worth it. I’ve been practicing Tae Kwon Do for around 10 years now, and rank as a 3rd degree black belt. I’ve also been playing violin for 8 years, and am good at it. I take pleasure in hanging out with friends and having a good time on weekends.
Anyways, there’s my quick rundown. I expect to post something thoughtful at least once a day, and plan to post something stupid most of the time. But if you listen to my advice and weed out the crap, maybe you’ll learn a thing or two about the web. I may be young, but I’ve been in the industry for now over five years, so I do know quite a lot about advertising, branding, web development, investments, marketing, etc. I have lots of room to learn, and hopefully this blog will help me organize my thoughts and build on my name. If nothing else, at least I have a place to vent and people to share my success with.
