Hello and welcome to VueRichInitiatives –
Here we have another weekly update to my stock trading account. For most of the week, my trades were pretty saddening to my portfolio. If you read last week’s trades, I was sitting on shares of IPI and hoping to let them go for a nice ride this week – IPI ended up doing the exact opposite (what’s new?). I cut my losses very late because I had so much faith in the stock; I continuously removed my stop-loss (an option for my broker to sell my position of the stock once it falls below a certain price) as soon as it was near the trigger. Eventually, I couldn’t bear more than a 10% loss and sold for an 8% loss – not like that’s a lot better or anything.
The rest of the week was pretty slow for me… I tend to get involved in terrible trade decisions after a very big loss, so I decided that for the rest of the week, I would get in on trades and if it were to move quickly down the opposite direction, I would make sure to sell out instead of taking another big loss.
On Thursday, after the market had closed already, I realized that ETRM’s price had started moving up, as well as their volume (tripled in the last minute before market close). I had a strong feeling that the stock would perform very well the next day because of a possible “short-squeeze” (or when people are buying against the stock, hoping for it to drop, had decided to buy back in). The next morning, my prediction was coming together! I didn’t get in right away, but when I did enter the trade, I took a whopping 10% profit! I even got greedy, entered a second trade, but exited shortly after the stock wasn’t moving as fast anymore – still a 2% profit, can’t complain.
That’s it for this week! Be sure to check back in next week to see if I can top this week’s gain!
|Date Bought||Date Sold||Ticker||Shares||Purch. Value||Sale Value||% G/L|
|13-Jan||17-Jan||IPI||785||$ 1,648.50||$ 1,515.05||-8.10%|
|17-Jan||18-Jan||JNUG||145||$ 1,319.50||$ 1,323.85||0.33%|
|18-Jan||20-Jan||SVXY||14||$ 1,522.50||$ 1,507.80||-0.97%|
|20-Jan||20-Jan||ETRM||190||$ 1,421.20||$ 1,567.50||10.29%|
|20-Jan||20-Jan||ETRM||170||$ 1,530.00||$ 1,564.00||2.22%|