October 17, 2008 - Started Investing
Basically I have been researching through forums, websites, and trader news...and have initially invested $5,000 into an eTrade account.
I started out purchasing SDTH, GA, and MEA. Had about 1600 shares of SDTH (purchased at $4.15), 100 of GA ($6.xx), and 200 of MEA ($3.88). I saw a nice gain through the end of the month with SDTH, and started using my margin to purhase more because I saw potential in SDTH. Seeing the gains through the month of Oct, I decided to buy about 1000 more shares of SDTH at $4.76/share towards the end of the month. When the stock soared to $5.25 in the first week of Nov, I thought I was the hot sh*t. Seeing my initial $5k investment turn into $7.5k if I cashed everything out...50% of my portfolio should have been indeed enough.
THEN...IT happened. Of course due to the economic recession, the stock dropped to a low point of $3.20/share in November. I saw all my profits and then some lost in a matter of weeks. Started doing some more research, and did not see why SDTH was facing these downward swings, and I purchased about 550 more shares at $3.50 early December using my margin, and slowly it decreased to its low at $3.28 in late December.
At this point, there were margin call on my account, and I had to throw in another $800 into my account, because I did not want to sell my SDTH at such a low price. I was already, during the lowest point, down to about $3000, and was fairly sick about my life. Reading more news, I believed that SDTH still had prospect. I got margin called again, and deposited another $2400 so that I could stop the margin calls for my own sake.
Total Invested = $8,200 to date
seeing my account only worth $4,500 after depositing $8,200 brought my hopes down...and seeing how I couldn't take up on the other member pics that SOARED through the roofs (aka. DVAX, NEXM, UEC, SSCCP, and especially PLD and ANSV). Next time I thought to myself...next time...
I couldn't move anything in my account, because there was no point in selling at what they were worth at the time, so I held through, sold my GA with a net -$20 or so (no biggie), and hoped that January would boom. SDTH did just that within the past 2 weeks. My account is not back up to $7,400 but a LOT learned, a little stress went away, and a whole lot more hope for the future.
I just sold my MEA today because I know there is news that the company has gone to a Holding state...and I don't percieve the stock to go up much higer...so taking my losses, I sold my 200 shares at $3.32 (net -$140).
Along the way I also picked up 1750 shares of NVD, and plan on purchasing some more in the near future. I have 1750 shares of NVD, and 3235 shares of SDTH, with a net value of my account at $7400 as the day closes.
It will be a little bit of a grind for me, but I have faith in my abilities to learn from my mistakes (i.e. should have gotten out ahead when I was ahead, not be too greedy, utilize multiple streams of information while performing my DD, etc...). Investing is starting to become more addicting, and I do believe that lots of money can be made investing, as many would/can agree. We all just have to be smart about it right?
Oh yeah, and I started out with an eTrade account, but now notice that since I don't perform 30+ trades per quarter, my fees/commission rates are RIDONKULOUS...not just $9.99/transaction anymore...so I'm thinking about switching over to Scott Trade, even though I do rather enjoy the layout of eTrade and their daily/net gains/losses portfolio screen. Any suggestions?
Thanks all, and I know I'm a noob, but just trying to do what we all hope to do in the market...which is to make a buck or two. Hopes is that through this forum, I can track and learn more, and to gain more along with the members here.
-topher
Basically I have been researching through forums, websites, and trader news...and have initially invested $5,000 into an eTrade account.
I started out purchasing SDTH, GA, and MEA. Had about 1600 shares of SDTH (purchased at $4.15), 100 of GA ($6.xx), and 200 of MEA ($3.88). I saw a nice gain through the end of the month with SDTH, and started using my margin to purhase more because I saw potential in SDTH. Seeing the gains through the month of Oct, I decided to buy about 1000 more shares of SDTH at $4.76/share towards the end of the month. When the stock soared to $5.25 in the first week of Nov, I thought I was the hot sh*t. Seeing my initial $5k investment turn into $7.5k if I cashed everything out...50% of my portfolio should have been indeed enough.
THEN...IT happened. Of course due to the economic recession, the stock dropped to a low point of $3.20/share in November. I saw all my profits and then some lost in a matter of weeks. Started doing some more research, and did not see why SDTH was facing these downward swings, and I purchased about 550 more shares at $3.50 early December using my margin, and slowly it decreased to its low at $3.28 in late December.
At this point, there were margin call on my account, and I had to throw in another $800 into my account, because I did not want to sell my SDTH at such a low price. I was already, during the lowest point, down to about $3000, and was fairly sick about my life. Reading more news, I believed that SDTH still had prospect. I got margin called again, and deposited another $2400 so that I could stop the margin calls for my own sake.
Total Invested = $8,200 to date
seeing my account only worth $4,500 after depositing $8,200 brought my hopes down...and seeing how I couldn't take up on the other member pics that SOARED through the roofs (aka. DVAX, NEXM, UEC, SSCCP, and especially PLD and ANSV). Next time I thought to myself...next time...
I couldn't move anything in my account, because there was no point in selling at what they were worth at the time, so I held through, sold my GA with a net -$20 or so (no biggie), and hoped that January would boom. SDTH did just that within the past 2 weeks. My account is not back up to $7,400 but a LOT learned, a little stress went away, and a whole lot more hope for the future.
I just sold my MEA today because I know there is news that the company has gone to a Holding state...and I don't percieve the stock to go up much higer...so taking my losses, I sold my 200 shares at $3.32 (net -$140).
Along the way I also picked up 1750 shares of NVD, and plan on purchasing some more in the near future. I have 1750 shares of NVD, and 3235 shares of SDTH, with a net value of my account at $7400 as the day closes.
It will be a little bit of a grind for me, but I have faith in my abilities to learn from my mistakes (i.e. should have gotten out ahead when I was ahead, not be too greedy, utilize multiple streams of information while performing my DD, etc...). Investing is starting to become more addicting, and I do believe that lots of money can be made investing, as many would/can agree. We all just have to be smart about it right?
Oh yeah, and I started out with an eTrade account, but now notice that since I don't perform 30+ trades per quarter, my fees/commission rates are RIDONKULOUS...not just $9.99/transaction anymore...so I'm thinking about switching over to Scott Trade, even though I do rather enjoy the layout of eTrade and their daily/net gains/losses portfolio screen. Any suggestions?
Thanks all, and I know I'm a noob, but just trying to do what we all hope to do in the market...which is to make a buck or two. Hopes is that through this forum, I can track and learn more, and to gain more along with the members here.
-topher
