After four months that felt like four years, I’ve started live trading again. It’s a new year, and I’m excited to start fresh on this new leg of my trading journey. I blew up my original account at the end of August, 2019. As of the beginning of the year 2020, I’m starting over with a whopping initial investment of $150. Thank you Robinhood for making such craziness possible. I know all the conventional wisdom says I should have a minimum of $3,000 to start. (And realistically, more like $5,000.) I’ll get there. However, I wanted to get my toes wet using the new strategy I’ve been paper trading for the last four months.
My Plan For The Year
My plan for this year is to build up my account to $3,000 over the year with contributions. At the same time, I’m working to recover the initial $2,000 I lost over my first two and half years of trading. I understand it would be ridiculous to achieve my goal this year. I would need to earn an outrageous 66.6% return on my $3,000 . . . and I won’t even be trading with that amount the whole year. But it is important to have goals so I’ve heard.
The other part of my plan is to start a small dividend paying portfolio of stocks (much like Marcus’s Dividend Builder). I’ve been doing this for over a year with my IRA account with M1 Finance, and I have met with a decent amount of success. (More on this later.) So, as I grow my trading capital in Robinhood, I’ll be allocating about a quarter of my fund to invest in higher dividend paying stocks and ETF’s.
You can follow my progress–or regress–over on my Trading Journal page. I’ll be writing a weekly review of my trades and an occasional very concise, very approachable analysis of the market.
If you are interested in trying this whole trading with Robinhood thing out for yourself, click the big button below. If you do sign up we’ll both get 1 free share of a random company’s stock.