My Quest to Make A Million Dollars in 187 Trades

My Quest to Invest to a Million

I’m starting a new project today, and I have to admit I’m really pumped about it. The goal is to make a million dollars before I turn 40. I’m a retail investor – I buy and sell stocks for my personal account, and not for any company or organization. I love business news, trend watching, and looking at data to make decisions. I love setting goals, and get really excited working to accomplish something.

Thus, my simple project. I’m gonna take $25,000, and invest it in one company at a time. Every time I gain 2% on the stock that I’ve invested in, I’m gonna sell it. All I have to do is buy a stock, gain 2%, sell, and repeat 187 times. It’s that simple.

I’ll be blogging the project along the way, telling you my stock picks, why I’m choosing to buy them, including screen shots and links to the charts and news that I’m using to make my decisions.

My first pick is Chevron (CVX). I think I can make a 2% gain on it pretty quick. The company is announcing earnings this week, http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=fe94e62b-68ae-4289-b037-c34abf18e68c the 5 day, and the 1 month, charts indicate that the company has been having a good quarter.

CVX to Announce Third Quarter Earnings This Week http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches.aspx?post=fe94e62b-68ae-4289-b037-c34abf18e68c



5 Day Candlestick Chart for CVX http://ca.finance.yahoo.com/q/bc?s=CVX&t=5d&l=on&z=l&q=c&c=

There may be some psychological resistance at $85, but I think the potential and speculation for the company to exceed analyst expectations in their earnings announcement will “trump” the resistance. The price is trending up. The share price for the week of October 18th ranged from $83.14 - $85.

3 Month Candlestick Chart for CVX http://ca.finance.yahoo.com/q/bc?s=CVX&t=3m&l=on&z=l&q=c&c=

The share price has been climbing consistently since the end of August. This suggests that the earnings announcement will be positive this week.

Now that I decided to make this buy, I better start looking for the next one to make my next 2%.