I've been wanting to increase my personal net worth but was not feel ready due to some other higher priorities I could use with my savings, this include sending some money back home to my mom, putting down payment for house, and pay tuition for my MBA degree in 2006 - 2007.
Finally, after everything is settled, I started to do some more research in a stock market. I ended up opening a brokerage account with Scottrade as my co-worker use them too. I also took advantage of their referral program which gives 3 free trades for the referrer and referee if you were referred by someone. I open a cash account since I wasn't ready to take the risk with margin account before study about it further.
My first trade was BRCD. I bought 100 shares at $6.92 on 8/23 as my co-worker told me they will have an earning announcement coming pretty soon and they always beat estimate and the stock price generally increase after the announcement. As a result, it did beat the estimate but my co-worker told me to hold the stock until the end of year. As time goes by, the stock is going down a lot due to mortgage crunch and I was pretty worried. When finally the stock is going up back to its pace, I sold it at $7.26 on 9/13 representing a modest 3.9% gain in 3 weeks. Not long after that, several good news came out and the stock is keep going up and hit the $8 barrier. However, I did not regret my decision since it was my very first trade and I don't have any experience at all.
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