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.
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