Monday, January 7, 2013

My First Sale

I just made my first ever sale (and profit)!  From everything I have been seeing on the business news this weekend I was getting the impression that, at least for the short term, the mineral market is heading down.  With this in mind, I sold HBM.TO:

Purchase Price: $9.90
Sell Price: $10.91
Qty: 20
Commission: $4.95/trade

Capital Gains = (Qty * (Sell Price - Purchase Price)) - (2 * Commission)
Capital Gains = (20 * ($10.91 - $9.90)) - (2 * $4.95)
Capital Gains = $10.30 (5.2% profit)

I'm pretty happy with a 5.2% profit for just sitting and waiting a couple of weeks.  Of course, had I traded a larger volume my profit would have been much higher; with such a low volume a large chunk was taken out by commission.  I knew this was going to be the case when I started but like I said in a previous post this is an experiment to make sure I fully understand how things work before I get larger amounts of money involved.

Now I have about $225 available and I need to find somewhere to invest it.  Maybe I should buy a bunch more of SPP.VN since it has actually gone down slightly as well?

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