Well, I did it again. I made another mini-trade of 400 shares of RAD via TradeKing.Com.
I was in at 4.44 and out at 4.48. I made $6.04 after fees and commissions. Again, just to note, I am doing these small trades every 3 or 4 days, just to learn the mechanics of trading. I am not looking to make money. I just want tp learn how everything works. After some advice, I have decided not to place a buy/sell order for the same stock on the same day, thus avoiding “day-trader” rules. I will buy a stock, hold it for a few days or weeks, and then sell it. Again, this is my “play” money.

So, here’s how it’s shaken out so far:

TRADE 1:
Bought 400 shares of RAD (Rite-Aid) @ 4.40 = 1760.00
Sold 400 shares of RAD (Rite-Aid) @ 4.43 = 1772.00
Paid Commissions of 4.95 X 2 = 9.90
SEC Fee of .06

1772.00 – .06 – 9.90 – 1760.00 = 2.04 PROFIT

TRADE 2:
Bought 400 shares of RAD (Rite-Aid) @ 4.44 = 1776.00
Sold 400 shares of RAD (Rite-Aid) @ 4.48 = 1792.00
Paid Commissions of 4.95 X 2 = 9.90
SEC Fee of .06

1772.00 – .06 – 9.90 – 1760.00 = 2.04 PROFIT
1792.00 – .06 – 9.90 – 1776.00 = 6.04 PROFIT
Total Profit: 8.08

I know, I know. 8.08: Big deal?!? BUT, I learned a lot, it was fun, and now I know a little bit more about buying and selling stocks.

UPDATE: I just got off the “chat client” with a rep from tradeking.com, and I am getting a 100 dollar sign-up bonus!

Here are 10 things that I did to quickly get out of debt. I hope this helps some of you:

1. I balanced my checkbook so that I knew EXACTLY how much money I had. (I know it sounds basic, but I’ll bet many of you don’t have a balanced checkbook. I wanted to know exactly how much extra money I had, down to the penny, for debt reduction.)

2. I took advantage of a single zero-balance credit card transfer, and I used the time period for the offer, 9 months, as added incentive to get out of debt. (The date that the zero percent ended became my goal date.)

3. I used online banking so that I could easily and effortlessly send in MULTIPLE credit card payments per month. (At one point, I was sending in 5 dollars A DAY.)

4. I kept a minimum emergency fund of 1000 dollars and I used every available extra dollar for debt reduction.

5. I adjusted my tax with-holdings so that I brought home more money with each paycheck.

6. I reduced (for a VERY limited time) my retirement contributions. (I still contributed the amount of the match from my employer.)

7. I learned how to save money on groceries, satellite television, and my cell phone.

8. I communicated with my wife about money, and we were both on the same page.

9. I learned that eating out is expensive, but so is cooking at home. It’s not enough to prepare your own food. You must prepare WISELY.

10. I read. I read. I read. I read everything that I could get my hands on about debt reduction. (Magazines, books, blogs, websites, etc. etc.) Reading about the success of others kept me motivated!

Oh yeah… I also started this blog!

Click here for: 10 MORE Tricks of the Trade!