In other good news, our stock went up another $1.37 per share. It's now at $30.06 (or 19.99% profit). In normal circumstances I would be selling at $30.59 to get my 22% profit, but I've only had this stock for a week, so I'm hanging on to it a little bit to see how much I can get. I would like for the stock to get to $40.30 per share. Then when I sell it I will have doubled the money I started with on Scottrade back in January. Not bad for three months effort. Also, the Royal Bank of Scotland stock paid dividends today. RBS J series is paying 8% dividends. I figure we should get an extra $10 invested in this. Not big, but it adds up. I expect I'll get a letter from the bank we bought the stock from to give me details. A friend in my martial arts class recommends that I eventually move into a nice mutual fund or IRA or something. But why fool with 3-5% per year profits when I can get 630% or more doing what I'm doing?
I'm probably boring everyone with all this stock stuff, but it's so cool to me. The prospect of being a millionaire in a few years is exciting. So far my strategy is working well. 22% profit on every trade (with the occasional 12% or 60%) while cutting any loss at 7% is very nice. I wish I had started this years ago.