The market has been volatile the past few weeks and I have not been able to break through the $25,000 threshold to open up a Day Trading account. But I have been able to make some progress! More progress was made 2 weeks ago with about $1400 in gains, however, I gave back about $160 last week. I am hoping this week will provide some good momentum to get over that $25,000 short-term target.
View all my current holdings here. I have a few goals that I am currently working toward. The following is a quick recap:
Goal 1, $25,000 in Robinhood and E*Trade Brokerage combined. I will consolidate the funds to E*Trade and conduct all my trading with that account.
Goal 2, $40,000 including the consolidated E*Trade account mentioned above and the cryptocurrency investments. Once this level is reached I will become a full-time day trader earning a living off the market swings.
Goal 3, $2,500,000 all accounts combined and I will retire.
Since opening the Robinhood account in February I have invested $2,000 into it and lost $240 as of 4/7. The week of beginning 4/9 I began to change this. I have been concentrating on making good trades and not concerning myself with the actual dollar figures.
On Friday 4/5 I bought 588 shares of CHK, a cheap energy stock that I thought might climb with the pending military strike in Syria. The price was $3.07 per share I paid $1805.16 total. On 4/10 this did not gain as much as I had anticipated. I sold all the shares for $3.08 a small profit of $5.88, exactly one penny per share. Although it was not a huge gain I still turned a profit. I reminded myself to make good trades and not concern myself with actual dollars lost and gained.
4/10 I was listening to the live trading room available free at Trade-Ideas.com and heard that YY was starting to take off. I bought 18 shares for $97.05 each, total cost $1,746.00. The price quickly reversed and I sold when the price reached $96.00, a 1% loss. This trade netted a loss of $18.00. After a small gain and loss, I decided to take the rest of the day off.
Oil and War
4/11 The energy sector was moving up with the threat of war with Syria lurking. I decided to find a good stock within the sector and see if I could make a profit. Marathon Oil (MRO) seemed to fit this bill. It had been on the upswing prior to the energy sector surge and I thought this would be stock that could bring some profits. I made 2 trades of this stock, both netting a nice profit.
4/11 Bought 104 shares of MRO for $17.15, total cost $1,782.55.
Sold the same shares for $17.51, total sale $1,821.04. A profit of $38.49
4/12 Bought 105 shares of MRO for $17.40, the total cost of $1,827.00
4/13 Sold the same share for $18.00 each, total sale $1,890.00. A profit of $63
4/13 I moved the profits to a favorite stock that tends to move with the technology sector. AMD was at a low point so I moved my profits there to hopefully profit over the weekend.
Bought 191 shares for $9.90 each, total cost was $1,890.90.
Sold the same shares for $10.08 the same day, total sale $1,925.28. A profit of $34.38.
I ended the week with a profit of $173.09, gaining 9.8% in one week! This was the result of making good moves and not forcing a trade when I didn’t have a good one to make. Remember I did make a trade that lost money but I didn’t let it drag me down.
Robinhood Week Beginning 4/16
I have traded this small pharmaceutical stock from time to time as the price drops below $2.00. The price was at $1.78 when I bought 1086 shares for a total cost of $1,933.08. I set a limit order for $1.90. By the end of the week, the price stagnated and had not sold. We will see what happens next week. I was still holding this stock at the end of the day on Friday 4/20.
4/9 I was holding 17 shares fo NFLX which I had purchased for 290.49 each the previous week. The price was on the rise and took the profits, I sold the shares for $298.25 each turning a total profit of $121.90. I have traded this stock several times in the past; when the market drags it below $300 I can usually buy some and sell it closer to $300 for a profit. As I play the market, I have begun to recognize certain patterns in certain stocks.
Still, on 4/9 I bought 515 shares of AMD for $9.72 each, total cost $5,010.75
4/10 Sold those shares for $9.80 each, total sale $5,042.44. A profit of $31.69!
Still, on 4/10 I bought 51 shares of YY for $97.66 each total cost $4,985.69.
Sold these for $96.85 each, total sale $4,934.27. A loss of $51.42
Bought 101 shares of MU for $49.40 each, total cost $4,994.90
4/11 Sold those shares of MU for $50.75 each, total sale $5,120.67. A profit of $125.77!
Bought 16 shares of TSLA for $300 each, total cost $4,804.95.
I was hoping to capitalize on the bounces I have been seeing TSLA make over the past few months. I held this position over the weekend in a swing trade that I plan to sell the following week.
4/12 Bought 30 shares of FB for $168 each, total cost $4,954.95
Bought 2,777 share of SGYP for $1.80 each, total cost $5003.55
Both these positions are swing trades I intent to sell next week.
4/13 Contributed $50 from my paycheck as I do every week. If you have trouble saving read my post here about living like a billionaire and saving money.
E*Trade Week Beginning 4/16
4/16 I received $25.00 in dividend payment from when I owned WDC a few weeks ago.
TSLA share price had fallen since I bought it last week. Being confident that they would recover, I bought more at the discount price. Bought 17 shares for $289.93 each total cost $4,933.81.
4/17 Sold all 30 shares of FB for $168 each, total sale $5,034.93. A Profit of $79.98!
4/18 I was eyeing SPOT because I have held it for a few weeks and it has seemed to putter out around $150 per share. The price just hadn’t climbed past that threshold. I set a limit order before the markets opened for $150 per share. This executed when the markets opened but the price rocketed right past $150 as my sale went through. I turned a profit of $549.89. Had I waited until the market opened and the sold I could have sold for closer to $155 per share and increased my profit by 50%. A new rule is listed below.
4/18 sold all the TSLA for $297 each, total sale $9,795.82. A profit of $57.06!
Bought 554 shares of BBBY for $18.06 each, a total cost of $10,012.96.
Sold the same shares for $17.90 each, the total sale of $9.911.35. A loss of $101.61.
I bought this stock at the wrong time. The price quickly rebounded and moved past the price I bought at, but it was too late for me.
4/18 I tried to make another profit on the rising oil prices.
Bought 515 shares of PUMP for $19.37 each, total cost $9,981.84.
Sold those same shares for $19.17 each, total sale $9,869.44.
Bought 519 shares for $19.26 each, total cost $9,998.30.
Sold those same shares for $19.34 each, a total sale of $10,032.21.
Total loss from all these transactions was $78.49.
4/20 I contributed $50
Bought 1,000 shares of AMD for $10 each, total cost $10,004.95
Bought 2,824 additional shares of SGYP for $1.77 each, total cost $5,003.43
From my SPOT sale, when selling a stock it is, OK to set a stop loss order before the market opens to protect profits. I will not place limit orders until after the market opens and I have a better idea what is going on with the stock.
I will only trade a stock with one account at a time, there is no point in having two accounts and then trading the same stocks.
Trade size is increased from $5,000 to $10,000 per trade in my E*Trade account and the full amount of my Robinhood account. The goal here is to make sure when I do make a good trade I make a good profit. It will also limit the number of trades I can make to two at a time. I don’t want to trade too many stocks at the same time.