I had my best week of trading to date this week! I played gold before/after the election and it seemed to work out well for me. I still only have about $500 to trade with as I’m still holding the extra shares of BUD. I figured I would try out a lower priced gold stock and see what happened, so far so good! This weeks profits of $57.76 brings my YTD profit to $188.44. My weekly average is now up to $23.55.
An overview of my current trading strategy:
- I’m trading dividend stocks that I wouldn’t mind holding for the long term.
- I’m currently only trading with a small portion of my portfolio less than or equal to 5%.
- I make 99% of my trades while I’m at work so the time element is irrelevant to me.
- I’m trading to gain experience and a small amount of extra money.
- I’m using Robinhood to make all my trades, so I pay $0.00 in fees/commissions.
** I understand I will have to pay tax on these gains. This is my gross profit, come tax season I will show the net profit of all my trades. **
Here are my trades for the week:
I made out really well playing GORO the day before the election results. $32.00 is my single most profitable trade yet so I’m happy with that!
There’s still no denying that last week sucked but at least this week made up for it. Trading GORO goes completely against my original strategy to trade dividend stocks but I felt it was a good play this week. I may keep a small portion of money aside for what I deem “riskier” trading and then another small portion for “safer” trading. I would like to start averaging $50/week but trading with just $500 makes it tough, that’s a 10% return per week. I managed it this week but I think a 5% return per week is a more realistic number to shoot for.
Either way, I’m still profitable in my trades and enjoying it so I’ll continue to trade every week for the foreseeable future. I would like to trade for a year (52 weeks) consistently and analyze those numbers.
Want to make extra money every month? Try these 10 legitimate ways to make money from home!