This completes my 6th week of day trading along with October. This wasn’t my best week of trading but it still worked out alright. This week brings my YTD gain up to $128.19 and my weekly average down to $21.37. An extra $20 per week is still fine with me. I’m continuing to learn every week and that’s really what the goal here is. I’m in the process of saving some money in the form of cash in the event of a market correction. If my cash was sitting in my brokerage account uninvested it would be doing nothing for me. Day trading has allowed me to make a small return on my uninvested cash while learning in the process.
Here are my trades for the week:
I had kind of a rough week being that I got “stuck” holding Verizon for a few days until I was able to sell. Then I made a few other trades and got “stuck” again holding BUD, which I’m still holding. I’m hoping I’ll be able to get rid of it next week but if not that’s what I designed this strategy for. I think BUD is extremely attractive at these prices and it’s almost at a 4% dividend here.
I was able to make an extra $111.84 in October by day trading. I realize I will be taxed on my profits at the end of the year and when that time comes I’ll show my gross income from trading as well as my net income. Profits are still profits no matter which way you look at it.
I think during an “average” week I should easily be able to continue to make an extra $20 per week which is a little less than a 1% gain per week. If I can start averaging a full 1% per week that’s 52% per year, not bad! Again, I’m only trading with about 5% of my portfolio so my profits are small at this point. Eventually I may start trading larger quantities but for now I’m happy with the progress.
Click here to see my full day trading log!
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This is now my 5th week of day trading and I’m pretty happy with the progress I’ve made. My YTD gain is now $113.36. As of now I’m averaging $22.67 per week. If I can continue to average this I’ll make an extra $1,178.84 per year. I still think I can average much more as I’m just getting started.
Here are my trades for the week:
I’ve been continuing to trade HCP quite a bit but it was up around 3% this week until Friday so I backed off and starting trading VZ on the dip. I was able to lower my average cost per share by trading VZ and I may use that to my advantage with other stocks as well. I really like VZ at these levels and will probably continue to trade it even though I’m not able to buy as many shares.
Here are my profits by day. According to the chart I didn’t trade on Friday but I bought some VZ that I wasn’t able to get rid of. Verizon dropped about 4% this week and I don’t need to make up much ground to make profit on my trade. That’s the only reason I didn’t sell and take the loss. I’m confident I’ll get out of this trade successfully.
So other than my current hold this is my third week in a row with 100% success rate with my trades. Though my strategy isn’t yielding huge profits it is proving to be rather consistent. It’s a shame I’m not trading with a couple thousand shares at a time! Haha maybe eventually.
Hopefully I can get out of this trade on Monday and reach $50 next week! Slow progress is still progress!
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The end of this week marks my first full month of consistently trading. I’m actually surprised that I made as much as I did. My short term goal was to make an average of $3.25 per day which would be an extra $65 per month. I was able to make much more than that my first month.
I definitely think I’m making progress and getting better at trading. I’ve now had two weeks in a row with a 100% success rate. My original strategy, that I’ve now modified a little bit definitely seems to be working out for me. Again, I’d like to emphasize I’m currently only trading with about 5% of my portfolio and I’m only aiming to make a little bit of extra money. As time progresses I would like to increase the amount of money that I trade with and my earnings goals will increase as well. I still have a long term goal of making around $100 per day, but I realize that is still a long way away.
I managed to make an extra $23.05 trading this week! Not quite as good as my previous week but still far above my goal of $3.25 per day. I’ve continued to trade HCP as I have been quite a bit lately. It’s helpful for me to trade the same stock rather than jump between stocks. It’s much easier for me to monitor one stock and how it behaves rather than a handful of different stocks. I trade while I’m at work so I don’t really have the time to be on top of multiple stocks anyways. 100% success rate though, my strategy is working!
I’ve made noticeable progress since my first two weeks of trading. I had one really bad trade my second week of trading that really set me back. But my past two weeks have been great. If I could maintain a $35/week average that would be awesome. I’m still having fun trading and it’s nice to be able to make some extra money!