Live Off Dividends

Passive Income and Personal Finance

Day Trading Log 10/17/16-10/21/16

day-trading-log-10_17_16-10_21_16

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:

screen-shot-2016-10-22-at-2-20-55-pm

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.

screen-shot-2016-10-22-at-2-21-22-pm

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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6 Comments

  1. Just curious, are you using a computer program or just trying to gauge the sells and puts to find a momentum? Also, have you looked in to the implications of day trading on your tax return? I imagine it will be a super long return with all those transactions.

    Either way, best of luck and continued success! AFFJ

    • I watch the chart/price movements to try to track momentum and trade accordingly, seems to be working out! And I’ve given some thought to the tax implications, of course I know that I’ll be taxed on all my profits but as far as my actual return goes I don’t think it will be an issue. I guess we’ll find out though! Haha thanks AFFJ nice to hear from you!

  2. The gross profit result obviously seems to all be in the positive, which is great, but what does it look like after you add in transaction fees and tax? I’m guessing not as rosy?

    • I use a brokerage called Robinhood and they offer free trades and no commissions. So the only outlier is tax. Which being short term gains will be taxed at my ordinary income rate. So it will be less all said and done but it’s still extra money.

  3. Robinhood Day Trader

    October 24, 2016 at 9:20 am

    Very good progress John. I myself discovered Robinhood a couple of months ago ang it got me addicted. Lots of learning to have but I think I will get there. I noticed you only day trade a small portion of your account and hold the rest for dividends. Sound plan. Good luck to you!

    • Thanks RDT! And yes I’m currently only trading with about 5% of my portfolio. I’m not so new to Robinhood but I’m very new to day trading. This is my fifth week so I’m taking it very slow. I’d love to chat with you sometime!

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