I’m really excited to share with you how my portfolio has been doing since my February Portfolio Check In. Why? Because I made a mistake that cost me all of my gains so far this year…
I got greedy, and made a trade in the account – and it went the wrong direction. It happens, but it was because I didn’t follow my own rules and guidelines, and didn’t do enough research. But I’m glad I can share with you the consequences of this.
Trading in February
I made one trade in February. I bought a company called Aventura Equities (Pink: AVNE). If you want to know, it’s a marijuana stock. Anyway, I was excited by everything happening in Colorado and Washington, and was hoping to see it pop up in price due to the news.
I bought 100 shares at $0.48. It ended up topping up at $0.55 – but remember, this is a penny stock – so I was only able to exit at $0.44. Yes, a loss.
In the end, this trade cost me $19.36. But on a $1,000 portfolio, that’s almost 2% for being stupid.
So, what went wrong:
- I didn’t do enough research
- I wasn’t prepared for the volatility of a penny stock
Current Portfolio Value
As a result, the value of my portfolio actually decreased last month.
On 2/28/14, my portfolio was worth $994.84. That was down from $1,013.00 on 1/31/14.
My current holding is 10 shares of Lindsay Corp (NYSE: LNN).
Game Plan for March 2014
The game plan for this month is to stay the course. I actually invested in several other companies outside the Grow Your Dough challenge that I should have used for the competition, but that’s okay. Plus, LNN will also be paying me a dividend this month, which will boost my account value back up.
How did you do last month?