So I’ve taken a small break from blogging and making videos but I’ve decided to pick it up again, I hope you all missed me :).
Gap in posts
While I’ve been busy not posting I’ve been busy building my Robinhood portfolio, you can check out the specifics on my LookerStudio Dashboard that I made to keep track of where things are. I use Google sheets as the input source for Google Looker and its a pretty simple process. You can always watch my process on my YouTube channel, I have a goal of posting once a month because the stocks that I am currently holding and actively buying pay monthly dividends.
New Strategy Explained
My strategy is simple, first I do some research, Google, TipRanks anything that has free ratings, ranks and dividend payment information and make a list of potential stocks. Next I decide based on the price history, dividend frequency and current price which stock I’ll focus my investing efforts on. Once selected I begin buying the stock, using the dividends from the other stocks I own, any covered calls I sell (we’ll get to that in a minute) and some money from my paychecks. I then buy the stock until I own 100 shares, so that I can sell a covered call. I sell covered calls only for more than the average price that I paid for the stock. I like Robinhood because they have low fees for options (the covered call) and they have a feature to roll options, buying a covered call to cancel the one I sold and selling a new one in a future period, ideally for a profit. Its easier to see and use in the app, maybe I’ll make a video showing how it works, its easier than it sounds.
Until Next Time
That’s the strategy I’ve been using since August 2023 and have made about $567, all reinvested. If you decide to use Robinhood my link is at the bottom of the homepage as well as here I believe we both get some fractional shares for free! Thanks for “listening”!