I took last week off of all trading and took some time to reflect on what brought me to this point. I am coming back in fresh and ready to profit! Without further blabbering here are the trades:
On 5/21 I bought 2405 shares of CHK for $4.16 each, total cost $9,999.85.
Sold these share for $4.28 each, total sale of $10.294.85, a profit of $295! Not a bad start to the week!
On 5/22 I bought 564 share of AMD for $12.83 each, total cost was $7,239.04.
These shares were sold the next day for $13.15 each, total sale was $7,466.78. Another solid profit of $172.44! This week is looking better already.
5/23 I bought 982 share of TCS for $7.60 each, total cost $7,466.78.
The price fell and I exited this trade quickly when the price hit $7.50, total sale was $7,357.73. A loss of $109.05.
5/24 I bought 1,500 share of GERN for $4.77 each, total cost $7,419.77.
Sold them later that day for $4.95 each, total sale $7,419.77. Another solid profit of $259.97!
The Difference a Week Makes
After taking a week to reflect I came back strong. I netted a profit of $618.36 with 4 trades. All these trades were my own and not from the chatroom that I tune into most weekdays. I am more confident than ever that I am ready to do this full time. The down side is I don’t have enough cash to make the move right now. As my workload increases at my day job it is very hard to monitor my trades during the day. I will not be making as many day trades until I get my bankroll in order.
The next level I need to be at is $40,000 excluding my IRA. View my current account values here. Once I’m there I can afford to purchase the required hardware and have a cushion equivalent to 3 months worth of paychecks. How will I get there you ask? Penny stocks and swing trades. I can’t reveal everything yet but I am currently holding 1,000,000 shares of a penny stock, UITA. We are expecting the company to release news during June. Right now I have paid around $10,000 and the current value is $5,300. I am betting that this stock will reach a level much higher than it is right now. I hope to profit up to $10,000 during the month of June with this stock alone.
Final Note and Thoughts
On 5/22 I sold the GERN that I had held in my Robinhood acount for a profit of $81.37. That purchase was made on 4/27, so this trade was worth waiting out. While I bought in at $3.98, the price bottomed out near $3.20 and rebounded to $4.15 where I finally cashed out. Like I saw in the past week of reflection mos,t stocks will rebound when held long enough. It does take nerves of steel and it is not an exact science. When playing with highly volatile stocks, you need to have an exit plan in place if things go wrong.
On Friday 5/25 I made my usual contributions of $50 into my brokerage account and $105 into my IRA.
In the coming weeks I will be explaining options trading, a complex subject that I managed a 600% return on my first attempt. The website is almost ready to go live with a new design, too!
Thanks for reading and happy trading! Feel free to ask any questions in the comment block below.