Friday, April 24, 2020

SPXL trade 04/24/2020

This post is a continuation of the $50 a month stock challenge I started October 14, 2019.  Click on, "No Commission Stock Trades", on the right side of the page to read from the start.

            $381.94 self-imposed April trading limit.
            2% of $381.94 = $7.64 April profit needed.

     Yesterday (04/23/2020) I bought 1 SPXS @ $31.50 and today (04/24/2020) I sold that 1 SPXL @ $32.75.

     $32.75...…...sold 1 SPXL @ $32.75
     $31.50.....bought 1 SPXL @ $31.75
     $  1.25 total profit

     $1.25 / /$31.50 = 3.96% ROI

     As the market seesaws, I again took a profit on the S&P 500 ETF.  I took a small position in the "inverse ETF of the S&P 500". 
     Yesterday I explained why "shorting the S&P (using an inverse ETF) is dangerous but I feel todays upside market move will be short lived.

     As I wait to re-enter SPXL on a pull-back, the small SPXS position will earn "small money" if that happens and not wreck my account if S&P continues up from here.

     Remember this is a small account and with small but steady gains will built it. Lets keep our eye on Return On Investment (ROI).

     We made $1.25 profit today on $31.50, had we invested $3150 (still not a large sum) our profit would have been $125. 

     With patience our account will get there, we are BUILDING wealth with very little money. ANYONE can do this!!

Disclaimer, I am not a professional
your comments are welcome and appreciated or

No comments:


Free Web Counters
South Beach Diet Food