Monday, July 9, 2007

I am a Daytrader (Apparently)

Zecco is an unbelieveable thing. On Friday, I had $20 to spare, so off the basis of some stock blog's tip I invested $19.80 into one share of ARGN- which I have no idea who they are, or what they do. The stock soared, and I was able to promptly sell the stock at $20- a 1% profit in a day.

Yes the $.20 I made is definitely not worth the extra amount of effort I created for myself in reporting that $.20 to the IRS, but I view it as a valuable learning experience.

The more experience I build up with trading, the better I will understand how I should be executing my orders. Hopefully, that $.20 will pay off big time.


Moneymonk said...

Watch out, it can become additive

Alex said...

yeah, I can see that. When I was doing it, I had the exact same feeling I get at a blackjack table, which is how you know I'm headed for trouble.

Lazy Man and Money said...

I would suggest that you wait until you earn a little more than 1% before selling. I would be looking for 6-8% minimum.


Day trading is going to the extreame.