Confessions of a Day Trader: Pump up the volume, this one’s in the bank

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: A round trip is $10 up to $25,000 and then above $25,000, commission is at 0.02% in and at 0.02% out.
Rules of engagement: Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.
 

Monday January 10

Mmmmm is all I can say about today. Mmmmmm!

Volumes very low. Hard to find anything, though CBA made a classic 11am move and everything else was just bland.

Both APT and FMG allowed me out with just a couple of minutes to go. The results of no profit and $12.00 profit sum up the day.

So, that’s $172 for the day and put in a bit of time and energy to produce that. Mmmmm. Off for a swim and a beer.

Recap:
Bought 500 CBA @ 102.66
Bought 600 APT @ 72.27
Sold 500 CBA @ 102.98 ($160.00 profit)
Bought 2,500 FMG @ 20.63
Sold 600 APT @ 72.29 ($12.00 profit)
Sold 2,500 FMG @ 20.63 ($0.00 profit)

Got a text off a mate and this was my reply in blue:

Bitcoin (which I don’t trade but watch) hit $39,500 that night (inflation hedge vs gold, had gold up Bitcoin down) and Friday APT traded down to $69.03.

Tuesday January 11

After yesterday’s effort, decide to be a bit more aggressive on size today. CBA broke down below $101.00 a few times today and gave me two opportunities.

Both times left sell limits at $100.98 because if they were going to push back above $101, they would need to take me out first, so for the sake of 2c it is a good strategy to have.

Just put sell limits below key breakout figures as sometimes they can reach that figure and fall back.

Then as I’m laying down with a nice sea breeze blowing through I noticed FMG getting sold down with not long to go. Made a 3c turn on 5000 and could have gone either way, so was a ‘heads or tails’ trade and heads came in!

Up $645 and spent a bit on brokerage but this allowed for smaller turns required to get a profit.

Recap:
Bought 1,500 CBA @ 100.98
Sold 1,500 CBA @ 101.15 ($255.00 profit)
Bought 1,500 CBA @ 100.82
Sold 1,500 CBA @ 100.98 ($240.00 profit)
Bought 5,000 FMG @ 21.04
Sold 5,000 FMG @ 21.07 ($150.00 profit)
 

Wednesday January 12

Back to finding my ‘zone’ a bit today.

Working out that volumes are not as big as they could be but there’s still some volatility going on.

For example, CBA’s day range was $102.48 to $100.82 and FMG’s was not as dramatic at $21.20 to $20.68, but both have support(ish) levels. CBA $101.00 and FMG $21.00.

Doesn’t really mean anything in the real world but in the stock market world, they get sold down and bought back up.

FMG trade went on longer than I thought and CBA again gave me two opportunities. Go to bed thinking ‘should I up the size even more or will that bring me undone?’

Sipping a nice single malt as I type and contemplate my movements for tomorrow and asking my trading ‘God’ for guidance. Up $775 for the day.

Recap:
Bought 5,000 FMG @ 20.90
Bought 1,500 CBA @ 101.57
Sold 1,500 CBA @ 101.73 ($240.00 profit)
Bought 1,500 CBA @ 100.99
Sold 1,500 CBA @ 101.18 ($285.00 profit)
Sold 5,000 FMG @ 20.95 ($250.00 profit)
 

Thursday January 13

Pre-market, the news that USA inflation was at a 40-year high got me thinking about gold.

Then out of the blue, CHN opened down and I lined up 4000 to buy and then chickened out and made my order 2000. I thought there maybe something fundamentally wrong as a reason for marking it down.

As it turned out my timing was good but my size was not. Then later on, CBA gave me another opportunity when it fell below $102.00.

Good result for not too much effort today. Plus $585.

Recap:
Bought 2,000 CHN @ 8.34
Sold 2,000 CHN @ 8.55 ($420.00 profit)
Bought 1,500 CBA @ 101.98
Sold 1,500 CBA @ 102.09 ($165.00 profit)

Friday January 14

Well today was the day that APT traded with a 6 in the front. Can you believe it? Amazing to think that once they were par with CBA.

Just shows that a quality dividend payer will always win in the end. Not touching APT now until they become Block on the 20th.

Got a fix on CBA and also MFG. The range on CBA was $102.65 to $100.50. WTF is all I can say and today was all about patience.

Low volume and inflation scares and a Friday and an Australian holiday mode all adding to the volatility.

Up $2635 gross and $2089 net after brokerage (CBA the main culprit). Bring on Monday!

Recap:
Bought 1,500 CBA @ 100.59
Bought 2,000 MFG @ 19.58
Sold 1,500 CBA @ 100.81 ($330.00 profit)
Sold 2,000 MFG @ 19.65 ($140.00 profit)