Tuesday, January 12, 2010

My First Trade


Last week I decided I wanted to try my hand at trading. Since I am poor, and not too much of a fool, I set aside $500 to trade as I saw fit. I consider this money a loss, so if I make some stupid mistakes, thats alright.

As of today, I am the proud owner of 35 shares of Citigroup Bank (C). I bought these shares at $3.53 pre share, with a 9.95 commission to Sharebuilder.com. Sharebuilder is pretty easy to use, and once the money was transfered to my account, I made the trade in about 5 minutes. The process is almost too easy...


When all was said and done, I was given this receipt and am now the proud owner of 35 shares of C. I chose citigroup because I have a firm belief that sooner or later the market will turn around, and citigroup will still be there when it does. I have not yet found the limit of my greed, so who knows at what point I will sell.

As of this post, I have already lost $.01 a share...

Initial Balance: $500.00
Current Balance: $489.70
Cash: $366.50
Stock: 35 shares Citigroup $123.20 (as of post)
Total (+/-): $-10.30

With the next post, will come more transactions, I'm looking at you Etrade (another long run possibility).

1 comment:

  1. A 77 word disclaimer. At the top of the page.
    Can anyone really sue you for telling them all to invest in AIG?
    If I made the disclaimer, it would read something more like, "Disclaimer: ...blaiblaibla... most of the advice in here is stolen from comments on finance.yahoo.com comments and paraphrased, badly... no one, not even babies, should take this advice, ever, even if someone has a gun to your pudgy baby throat... ALSO NOTE: Make sure to invest lots of money in penny stocks. In fact, invest ALL of your money in penny stocks. It's a good idea. Really. TRUST me."

    I mean, come on.
    THIS.
    IS.
    IIIIINNNNNNTTTEEEERRRNET!!!!

    ReplyDelete