HELLO & WELCOME to VueRichInitiatives —
We are now on the second week of January! Not a whole lot going on in my trade account right now, mainly because I’ve started my internship and have been focused on learning how to prepare business tax returns. Bleeeeh… Just kidding! Actually pretty interesting stuff if anyone’s looking into the field of public accounting. Anyway, not too much activity, but the account is still moving, and moving in the right direction. UP!
As I’ve kind of mentioned in my first trading post, Up To Date Progress, my goal this year is to increase my win/lose ratio on trades to build the account. For this past week, I tried focusing on 2 things:
- Discipline – Buy and sell with limit orders, so that I could avoid emotions ruining my trades
- Patterns – Finding a weekly support line to buy in, and sell at a reasonable small spike even if it means only receiving very minimal % gain
My reason for playing it this way is to train my mind to understand that a win is still a win, and is much better than a loss. THIS, I had a hard time understanding in 2016, for I had always waited to see a +10% gain before selling even comes to mind. The results had ended with many reversals NOT in my favor. Then, as with everything else, having discipline will only bring you so much further.
My trades for this past week are below — realize that I did not fully stick to my rules and it actually cut my profits short. LBIO was running an easy 3% weekly support to resistance, so I confidently bought in to hopefully make some quick change. I actually ended up being too impatient and sold. UNFORTUNATELY, as soon as I sold, it swung up to exactly where I would’ve sold a minute later (don’t things just always happen that way?). In the end, I realized $85, with an unrealized loss of $15 on IPI currently. By the end of the week, I’m hoping to have let go of IPI for some profit, maybe get in a few more quick trades, and end with free cash.
Find out what happens next week by following my blog (if you’re a blogger), stay up to date with my social media account (Facebook), or just simply bookmark my blogging site!
|Date||Ticker||Buy/Sell||Shares||$/Share||Mkt Value||% G/L|
|3-Jan||SVXY||Buy||3||$ 94.40||$ 283.20|
|9-Jan||SVXY||Buy||8||$ 105.65||$ 845.20|
|9-Jan||SVXY||Buy||2||$ 105.00||$ 210.00|
|11-Jan||SVXY||Sell||13||$ 105.67||$ 1,373.71||2.64%|
|11-Jan||LBIO||Buy||210||$ 7.10||$ 1,491.00|
|12-Jan||LBIO||Sell||210||$ 7.10||$ 1,491.00||0.00%|
|12-Jan||SVXY||Buy||1||$ 102.33||$ 102.33|
|12-Jan||SVXY||Buy||14||$ 105.20||$ 1,472.80|
|13-Jan||SVXY||Sell||15||$ 108.35||$ 1,625.25||3.18%|
|13-Jan||IPI||Buy||785||$ 2.10||$ 1,648.50|
Disclaimer: Any stocks that I mention are not recommendations. I will not be responsible for any losses that you incur. Please be wary and have your due diligence. Happy trading before the inauguration!