I made several trades this week with a concentration on making good trades. I was not focused on making lots of money, I am concentrating on making good decisions and trading well. Most of the trades I made came from recommendation from the chatroom at trade-ideas.com. The rest were mine; we will compare at the end and see what was more profitable.
4/23 I bought 377 shares of CIEN for $26.57 each, total cost $10,019.96. This idea came from the chatroom.
4/24 I sold those same share for $26.65 each, total sale $10,041.82. A profit of $21.86, 0.2%. I started off the week with a profitable trade!
4/24 I bought 1,000 shares of AMD for $10.00 each, total cost $10,001.15. This doubled my position to 2,000 shares total. This was my trade.
The Big Loss
4/24 I sold 5,601 shares of SGYP for 1.65 each, total sale $9,235.81. A loss of $771.17, about 8%. I had bought them thinking there was lots of upward potential but it wasn’t happening. I had set my floor at $1.65, and stuck with it as painful as it was.
At this writing, stock had completely rebounded, last check showed it at $1.89, up from a low of $1.45. This was a tough call and I think I made the right decision.
Good (& Profitable) Decisions
4/25 I bought 2,415 shares of IPI for $4.14 each, total cot was $10,002.90.
Sold the same share for $4.21 each, total sale $10,166.98. A profit of $164.02, about 1.6%! This trade came from the chatroom.
Same day I bought 256 shares of ALSN for $39.03 each, total cost was $9,997.30.
Sold the same shares for $39.10 each, total sale $10,002.37. A profit of $5.07, small, but still a profit. This trade was from the chatroom.
Also on 4/25 I bought 211 shares of MU for $47.43 each, total cost of $10,012.68.
Sold the same shares for $47.55 each, total sale was $10,027.83. A profit of $15.15, another small profit from the chatroom.
My last trade for 4/25 was KLXI from the chatroom. I bought 133 shares for $75.08 each, total cost was $9,990.59.
The Weekend Approaches
4/26 was Thursday and I had made all the day trades I was allowed to for the week, any purchase I made today I would be forced to hold at least overnight.
I made 2 purchases and also received my first interest charge for having a margin account. Both trades were my ideas.
Bought 330 shares of TWTR for $30.30 each, total cost of $10,003.95.
Bought 191 of LUV for $52.50 each, total cost of $10,032.45
I was charged $69.48 in interest for using E*Trades money to trade with. This account has been active for more than 2 months, so it costs less than $30 per month so far to use their money to trade.
4/27 I sold the shares for LUV for $53.55 each, total sale was $10,222.84. A proft of $190.39, about 1.8%.
I set a limit order to sell KLXI when it reached $74.34. The goal was to minimize my loss because this stock just didn’t seem to want to go back into positive territory. I set that limit order to salvage as small a loss as possible. Then came news of a buyout and my shares sold at a bargain as the price rocketed past my limit and settled near $80 per share. I paid $75.08. Not being able to watch each stock all the time has it’s disadvantages. I am looking forward to trying this full time.
My trades brought a loss of $192.55. If you take into account that sale of TWTR from next week, that becomes a profit of $18.37.
The chatroom brought profits of $97.59 for the week. It is the clear winner at this point. Watching what others are trading and hearing someone talk about the current market conditions is an advantage. I prefer it to surfing financial news websites and trying to find the best trades by myself. The chatroom is loaded with full time day traders making a living at this everyday. If they are willing to offer free advice from their years of experience, I am willing to listen.
My trading style is starting to develop and despite the profits being small they are profits nonetheless. I’m going to continue with this path but probably try to slow down and make only a few trades per week.
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