01 Mar #TradeMyWay: Vutomi’s path to paradise!
As part of our #TradeMyWay campaign, we have asked users to send in some of their own personal trading stories. Thank you to Vutomi Chauke for sharing her story with us below.
I have been interested in stock trading from a very young age but always thought it was too complicated and too complex for me. When I finished with my studies, I started working for an audit firm and practically stayed away from the stock market because of independence issues. I left the audit job for commerce in 2016. When I joined the new company I had a colleague who was interested in holding shares for long term purposes and he introduced me to Sanlam iTrade and I registered on the platform.
I was very impressed at how quick and easy it was to register on the platform. I started trading on the platform in August 2017 and have never looked back since.
My winning formula
I read a few articles; SENS news, iTrade equity research, iTrade graphs, summarised financial results and valuations, as well watching videos online at least twice a day for about 15 minutes. I read the SENS news in the mornings and listened to Bruce Whitfield later in the evenings. I have created a watchlist on the iTrade platform to see how my stocks are performing each day and I have created email alerts on my current stocks or stocks that I am interested in, I get alerts when the share price has reached a certain level. I can check the SENS news and check Google for ideas on what might be happening in the market.
Gains to date
To date, I have made a profit of R37,000 (8.4% growth on my portfolio in 5 months) on the share trading and have since reinvested this amount. Even banks are not offering me on my interest on savings.
My biggest gain was when EOH fell to R45 in December, I read the SENS news and listen to the Bruce Whitfield show. I realised that the drop in share price was due to some reckless decisions made by 2 senior staff members and that the share price was likely to get back to the normal levels in a few weeks or months. I decided to buy 670 shares at an average of R57.50. This month Cyril Ramaphosa won the ANC conference and the markets picked up. On the same day I sold the shares for R80. That was a R14 600 profit on one trade! I was so excited I had to tell everyone and anyone who was interested to listen. This was only my fourth month in trading shares!
My goal in the next five years is to save enough money and grow my portfolio to where I can buy a nice house for my family and I. I would also like to be able to provide money for school fees. In the short term, I plan to visit Thailand in November for my 30th Birthday.
Sanlam iTrade has afforded me a real chance at economic freedom!
Listen to Vutomi tell her story in the video below.
Do you also have an inspiring trading story? Share it with us and you could win! See the #TradeMyWay page for more information.