My Trading Journal is not a non-profit. It is currently a one-man team [me] with a passionate developer [also me] that truly wants to give as much as I can to help our world. Whether that be the environment, education, food, etc. I will be donating 10% of all net profits to charity. My Trading Journal was launched March 9th, 2021.
For more information about who I am and why I created this app, please check out About
Karmagawa happens to be my favorite charity. It is literally the perfect combination of all the things I would love to contribute to. Karmagawa builds schools and libraries, helps animals in need, distributes meals to the hungry, and has recycled thousands of pounds of plastic. Follow their instagram: Karmagawa Instagram and checkout Tim Sykes on What is Karmagawa (*See disclaimer below)
The following amazing videos show coverage on some of the charities Karmagawa has helped. VetPaw and Save The Reef.
What does 10% of net profits mean?
We define net profit as all revenue remaining after we account for all required tax, fees, business expenses, software development, and advertising expenses, required to keep the app functioning and webpage alive for the foreseeable future.
Our goal was to raise at least $5,000 over the first two years to donate to charity. Unfortunately, 2021 came a little short and 2022 the application was net negative after all expenses..
Please read the disclaimer below and be aware that My Trading Journal may not be profitable within the first two years. Unfortunately, if My Trading Journal is not profitable, no charity will be donated. Nevertheless, My Trading Journal will continue to set new charitable goals in the future.
Thank you for your support. My goal is to help others as much as I can. Please check back here for future updates.
In 2021, 100% of Net Profit was donated to charity!
2021 - Donation!!! $701
As of December 31, 2021 we grew to 64 members! The App has grown so much since I started coding it about a year ago. I want to thank everyone for all of your support and positive feedback. The net revenue, which will all be donated to charity is $701! This is incredible. Next year I hope we can donate more :)
2021 Expenses
Business Expenses
$236
Advertising
$274
Total Expenses
$510
2021 Revenue
Gross
$1,211
Expenses
-$510
Net Profit
$701
In 2022, the plan was to donate 100% of Net Profit to charity. Unfortunately, MTJ finished the year negative.
2022 - Donation: $0
As of December 31, 2022 My Trading Journal had fewer than 60 users. It was a challenging year for the overall markets and retail traders alike. Although, I continued to work on MTJ almost every day in 2022, I was unsuccessful at growing the business. My Trading Journal finished the year net negative.
Nevertheless, I plan to continue using My Trading Journal to help as much as possible and continue to donate. For 2023, I am updating my promise from 100% to donating 10% of all net profits. Unfortunately, I can't keep up with the 100% every year as I did for the first 2 years. However, I would like to maintain 10% every year for the lifetime of the application! *Fingers crossed* hopefully MTJ will be more profitable in the years to come!
2022 Expenses
Business Expenses
$1653
Advertising
$527
Total Expenses
$2180
2022 Revenue
Gross
$1,823
Expenses
-$2180
Net Profit
$-357
Disclaimer
My Trading Journal is not a non-profit organization, it is a for-profit sole proprietorship. Your purchase of the application is not a donation. Any above tables, price breakdown, and calculations are an estimate of finances and may fluctuate as business expenses are updated. My Trading Journal does not have any affiliation with Tim Sykes, Karmagawa, or any other charities listed above.
The first two years of revenue is difficult to predict. It is possible that My Trading Journal will not be profitable within the first two years (2021 & 2022). After all expenses, My Trading Journal may be net negative.
