Confessions of a Day Trader: Idle hands, trigger fever and a Big Austrayawn
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Each Monday, Stockhead’s resident day trader gives us a peek at the highs and lows of his trading diary and hints at what might be coming this week.
Platform used: Marketech
Round Trip: $10 (previously $40 on alternative platform)
Rules of engagement: Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.
Going to be a slowish week, so will try not to get too carried away. Start off on Tuesday, with everything up. Stay away until CBA pops up on the radar. Buy 500 at 86.37. Time 1.18pm.
They move my way and then fall away, so double down and buy 1000 at 86.13 and cross my fingers! Time now 2.44pm.
Just before 3.00pm, they trigger a profit target and I’m out at 86.31. Profit A$150.
+500 CBA at 86.37; +1000 CBA at 86.13; -1500 at 86.31; Profit A$150
Waiting around to get a takeaway coffee and notice BHP. Buy 500 at 45.78. Time 11.09am.
Coffee gone and BHP are almost 40c against me. Buy 1000 at 45.37. Average is now 45.50667. Time 12.10pm.
Sell them on a limit trigger at 45.59. Time is 2.27pm.
Getting bored so decide to buy 100 APT at 118.07. Time 2.50pm. Buy another 100 at 117.67, before selling the 200 at 118.05.
Small profit but will take it. Overall up A$161.
+500 BHP at 45.78; +1000 BHP at 45.37; -1500 at 45.59; Profit A$125 (worked for CBA yesterday and BHP today)
+100 APT at 118.07; +100 APT at 117.67; -200 APT at 118.05; Profit A$36 (better than a loss!)
Nothing is happening for me in the morning. At 11.38am, I notice that Z1P low is 8.01 and BHP’s high is 46.99.
BHP have been in a holding pattern, so I think they could go either way and buy 1000 at 46.74. Goes my way and out they go at 46.85 before going above 46.99 before the close. Profit A$110.
+1000 BHP at 46.74; -1000 BHP at 46.85; Profit A$110
Away doing family thing but still manage to have a punt in BHP and CBA. Bt and sold 500 BHP for a A$65 profit and bt and sold 1000 CBA for a A$110 profit. See graphs.
Sneak A$175 into the back pocket before relaxing into a Friday night sunset balcony beer.
+500 BHP at 46.43; -500 BHP at 46.65; Profit A$65
+1000 CBA at 86.66; -1000 CBA at 86.77; Profit A$110 (Same as BHP yesterday, 11c profit)
Gross profit: A$606
Less brokerage: A$153
Net profit: A$453
Most satisfying: BHP (Thur)
Least satisfying: APT (Wed)