Double To A Million - Step 18 - First Trade

How To Double Your Way To A Million In 28 StepsThe Official Blog for the "My One Million Friends" Website
Recently I moved my DTAMP stake over into a new Brokerage account in order to trade Equities other than Penny Stocks.

First, I would like to go over the distribution of all the current Doubling Stake:

Cash - $597.61
Penny Stocks - $51.00
------------------------
Total - $648.61

I made my first trade utilizing the $597.61 by purchasing a DTAMP Mutual Fund which is based upon the Russell 2000.

Buy:

Date: 07/30/2007
Quantity: 19.913 Shares
Price: $30.01
Cost: $597.61

Sold:

Date: 08/09/2007
Quantity: 19.913 Shares
Price: $30.31
Cost: $603.56

Profit: $5.95 +0.9956%

After buying the Mutual Fund, I had two opportunities to take a small profit over the following 4 days or so and then the market dropped again significantly. It began to immediately rise and on August 8th the Russell 2000 hit a short term peak.

At 3:00pm I was hovering over my keyboard ready to put in the sell signal as I was up 5.0% on the trade and was going to take it. Keep in mind that orders for this mutual fund must be in by 3:35pm to get filled that day.

At 3:00pm it started to back down fairly rapidly and as we approached my 3:35pm deadline the fall increased until the profit was up only 2.0%. I had to make a judgement call. Would the market continue to slide for the following half hour and result in a small profit or even a loss or would it stop.

By 3:30pm it didn't look good, it was continuing to drop, and I made the decision to not sell. In the hopes that it would have a small rally the next day.

After 3:35pm, too late for me to put my order in, it hit a bottom and turned going up for the rest of the time until it closed at a profit of 4.07%. I had made the wrong decision I should of sold.

I knew at that point I was tricked by the markets and made a bad decision to stay in.

The next day it opened down and at the end of the day I put in a sell order. I only ended up with around 1.0% Profit on the trade.

The day after that, which is today, the Russell has dropped further, as of this morning, which would have erased that 1.0% profit plus more.

I will be looking for a new position over the coming days.


Present Stake: $654.56

Motto: It is only "one" found penny.
Slogan: As Simple As Finding A Penny.

Regards,

Xinfinitum


This Pennies to Millions Blog is based upon the Doubling Plan "How to Double Your Way to a £Million in 28 Steps". It is an attempt to "Double Your Way to a Million" by going from one penny to one million dollars, starting from nothing. This may not show the fastest way to double your money but it will hopefully show a steady and continuous climb to reach the goal.

How to Double Your Way to a Million in 28 Steps
D.T.A.M.P. - Double To A Million Plan
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