If you are looking at my current holdings you might be a little intimidated. The value of all my accounts is more than $40,000! For me, that is a lot of money!! The real purpose of this blog is to help people who have no experience get into the market, so I have started an account that has very little money in an attempt to grow a small investment over time to something larger. As a new trader, it is best, in my opinion, to start small with some skin in the game. You will pay more attention to the market if you have some of your own real money invested. For this account, I will start with just under $10.
As I have been getting my feet wet as a new trader and investor over the past 14 months I have had several ups and downs. Here is a screenshot of my Robinhood Account which I funded with $2,000 back in February. You can see plenty of ups and downs, the lowest point my loss was $468, nearly 25% of my investment. Through several trades over several weeks, I brought it back to the positive and even turned a profit of $9.53.
I cashed out my initial investment and put it back into my E*Trade brokerage account for larger trades. I will take the $9.53 left over and attempt to grow it into something more without adding any more cash. Given that it is not much money I will be very limited in my selection of stocks. Since I can’t spend more than $9.53 on any one share.
6/19 bought 2 shares of CHK for $4.63 each, total cost $9.25.
6/27 sold those share for $5.25 each, total sale $10.50, a profit of $0.75 or 8.1%. Not bad percentage-wise but still only 75 cents
6/27 bought 3 shares of GERN for $3.55 each, total cost $10.65.
7/6 sold those shares for $3.75 each, total sale $11.25, a profit of $0.60 or 5.6%. Once again a solid profit!
7/6 bought 20 shares of GST for $0.55 each, total cost $10.98.
At writing GST has dropped to $0.13 per share, about a 75% loss. I am giving it a little time to see if it comes back. One thing for certain, you will not make money on every trade. You must take the wins with the losses and come out a better trader on the other side.
Please follow this blog to see where this account goes in the coming months and years! Thanks for reading and Happy Trading! Feel free to ask questions in the comment box below.