Live Off Dividends

Passive Income and Personal Finance

Day Trading Log Week 8: 11/7/16-11/11/16

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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:

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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!

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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.

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2 Comments

  1. Congrats, you are doing well and inspiring me to try the same.

    One question…is it possible to timestamp your trades to give greater transparency?

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