Welcome to VueRichInitiatives —
This is where I’ll keep record of my personal stock trading account, so you all will be able to journey on with me. I will regularly talk about my progress and the mistakes that I encounter. I may occasionally give an opinion, or state my position in a security (stock); I am no professional, so please do your due diligence if you decide to invest or trade a security.
It all started a few years ago when I turned 18. I was really interested in starting up a brokerage account, but I just couldn’t get myself to actually do it! Finally, this previous Summer (2016), I figured that if I didn’t open up a brokerage account, trading on the stock market will only be something to ponder about forever. I wasn’t going to let that happen! I did some quick research on different brokerage firms, and asked for a few recommendations from people and woolah — I was able to start trading! Talk about taking initiative!
Just to briefly go over how I did when I first started — I started with only $400 dollars and hit a home-runner on a penny stock that brought my account up to $650. Could you imagine how happy I was? My very first trade and I was able to bring in a 60% profit! At that very moment, I knew I was going to love this game. Unfortunately, golden days like that didn’t stick around for too long. To put it in short, I continued to add cash to my account, traded other stocks, managed to stay near break-even with my beginning balance and the first 60% profit I made, but I eventually fell in love with trading the same stock that gave me such a great chunk of change that I nearly brought my account to half its value. A lesson learned was to never fall in love with a single stock; you start to think that it will always be a good stock, or a homer-runner regardless of its current performance.
As of today, my account value is still not looking too hot. Through these last 7 months, I have been able to learn a whole lot, but unfortunately, it came with a very costly price. I am down roughly $1,450 (47%), but taking these L’s hasn’t stopped me yet. I’ve held myself accountable for all the mistakes that I made, whether it be a lack of discipline towards my own rules, not doing enough studying and researching, or emotionally trading. Enough with the negativity though; to shine some positive light on my account as we wrap up, my account value previously was at -60% in November 2016, and has only been going up since then. Hooray!
I hope to build my account value back up to a profitable status this year with the knowledge I have gained. The ALMIGHTY RULE that I have learned for successful trading so far has been to set rules on exit points for profit-taking and cutting losses. I still have a hard time doing so myself because I often become greedy when I’m up and an emotional trader when I’m down, but will hope to only get better with experience.
I apologize that this was sort of long — it’s hard to put 7 months in just a few paragraphs. I plan to release shorter postings in the future since it’ll be on a more regular basis. If you read through all this, I thank you so much for your time. Hopefully you were able to learn a thing or two from my experience, whether it be about trading or taking initiative. I hope for you all to continue with me on this journey!
Signing out —