05 Nov And that’s a wrap – our Wannabe iTrader wraps up his trading month and didn’t lose our money!
My month of trading on the JSE with Sanlam iTrade Online’s money is over. This last week has been pretty good!
I had some cash to invest so bought shares in Compagnie Financire Richemont (CFR) and Woolworths (WHL) both of which I thought should be on the up, 160 shares in CFR and 200 in WHL. I was also still holding the Old Mutual shares I had bought a while before.
Woolies was very good to me and after two days of holding, I sold them for a profit of R520.21. Richemont was not so good to me, closing that position on the last day at a gross of R12.80, so a net loss.
The Old Mutual shares have been a massive rollercoaster ride really testing my nerves, but I never let go. At one stage they were at a gross loss of R1500, but I held on and eventually sold them on the last day of the month for a gross profit of R772.80.
The Sanlam wannabe iTrader experience has been very interesting, and very educational. The resources on the Sanlam iTrade site are abundant, and the Iress mobile trading app has been very useful. The journey has been positive, from feeling very much like someone thrown in the deep end in the beginning, to understanding more and more about the day trading environment. After the month of trading, my total account is now worth R10,941.12, so 9.4 % growth in a month, I’ll take that!
– Bradley Lund
*Stay close for more detail on the next Wannabe iTrader challenge, starting again in February 2015. You’ll hear about it first on our social media networks.