When I’m losing money, I’m upset because I’m losing. When I’m making money, I’m anxious because I worry that I won’t be able to keep it up. -A Trader from Market Wizards
I have been mulling over what kind of investor/trader that I am. Do I want to focus on value or momentum trading? However, I honestly do not care what label I attach to my method as long as I am profitable!
I have been tracking my money in my trading account from 10/24/2016 by putting the stating value on a spreadsheet along with the amount at the end of the day. My account is currently up 10.94% as of 11/25/2016. This is largely due to being up about 22% on my VALE trade as of now. I also decided to get in on FCX and BHP to ride the iron/copper idea. I am going to start looking at taking some profits on these three trades.
I am also down 4.89% at the moment on my Activision (ATVI) trade. This is a very large position in my portfolio along with VALE. ATVI is currently at $37.22 while the average price that I purchased is $39.13. I think this one will turn, but I am ready to cut my losses like I did with my Facebook (FB) and Vodafone (VOD) trades. I still plan on keeping any loss at 1% of my portfolio or less. I successfully did this with both FB and VOD. I am, however, very very slightly over the 1% unrealized loss with ATVI. Activision is in a downtrend at the moment. However, I know (from past experiences) that this stock will turn very quickly when it does. I have been in it two other times and also like the sector. I would like to hold this stock through the holidays, but I have put a stop at $36.00.
I also haven’t given up looking for what I consider a good deal (value). I picked up 25 shares of Smuckers (SJM) at $124.95 per share (this includes commissions). This is a company that I have been eyeing for over a year but never got in on it. It closed at $124.46 on 11/25/2016. I might purchase more as I start to pull out of my VALE, FCX, and BHP trades.
I have not been adding to my account as I have been doing in the past. I have been spending a bit more on traveling and maxing out my ROTH IRA for the year. It has been fun treating my account more like a business and tracking every single day. I might ease up in the near future and track progress by week as opposed to tracking daily. I’ll see if my emotions can handle looking at it constantly.
I have not given up on dividends or value when looking for stocks. I have just been working on adding momentum and swing trading to my personal investing repertoire. So far so good, so good so far…However, none of these results matter if I give it all back. Money management is the key to success. This will hopefully allow me to continue to stay profitable in my investing and trading.
Currently Long on: FCX, BHP, VALE, NAT, BP, ATVI, and SJM