History

I must reiterate all my trades in order to learn from my mistakes. This means I will have to back track my transitions starting with my first stock.

On Jan 15, 2008 I purchased 1000 shares of Citigroup Inc, (C), for $27 and $19.95 for commission. A purchase total of $27,019.95.

Mistake 1)- The reason I went with this stock was because I thought it had bottomed. I was wrong. The stock drop for four consecutive sessions. Never assume until you have done thorough research on the stock you are purchasing. Read about their pass "income statements" and refer to the stock ratings from financial institutions such as Goldman Sachs. Never blindly get involved without research. (Still to this day I am making this mistake.)

Mistake 2)- I couldn't bare to watch the price fall any further and decided to cut my lost. On the fifth session of owning the stock I sold it. That was a mistake. The night before there was a global stock market free-fall. Never follow what the market does. I anticipated a dreadful day and so did everyone else. On 1/22/08 NYSE initially fell over 400 points. I immediately sold my stocks for a dismal $22.51 a share. The total came out at $22,489.70 including fees and commissions. The federal revenue immediately lowered interest rates and stocks went back up. (C) ended the day at $25.40 :(

For my first ever stock trade my total profit became -$4550.2 including all fees and commissions.

I would continue making mistakes and will disclose them in later posts.