Confessions of a Day Trader: Should auld acquaintance be forgot…
Link copied to
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 short week and expecting a bit of end-of-year touching up by the funds. Z1P especially as last placement was at 5.34.
Time is 10.15am. Start off by buying 1000 FMG at 23.90, so expecting it to try and crack 24.00. Also buy 1000 NCM at 26.13 as they look like they will bounce to 26.20.
Time 10.19am. Have sell limits on both higher up as have to go out. Come back and have been taken out of FMG at 24.05 and change limit on NCM down to market. All up make $180 for the morning.
+1000 NCM at 26.13; -1000 NCM at 26.16; Profit $30. (Had them on at 26.20 which they did hit later.)
+1000 FMG at 23.90; -1000 FMG at 24.05; Profit $150
Still keep eying up Z1P for them to always get to 5.34 at some point. Manage to buy 1000 at 5.30 at 11.55am. Just before doing that I buy 1000 FMG at 23.70. I notice ANZ at 22.96 and think may go to 23.00. So buy 1000.
FMG bounce nicely to 23.80 and I manage to sell 1000 at 23.805. Z1P I adjust limit to 5.33, down from 5.34 and get taken out. ANZ not behaving as I like so cut them at 23.97 so don’t have to worry about them and have a good profit for the day already locked in.
+1000 ANZ at 23.96; -1000 ANZ at 23.97; Profit $10 (Got bored.)
+1000 FMG at 23.70; -1000 FMG at 23.805; Profit $105
+1000 Z1P at 5.30; -1000 Z1P at 5.33; Profit $30 (They do hit 5.34.)
Last trading day of the year. Was tempted to just do nothing today, as it’s a short day. But can’t help myself and have to take a peek, just before lunch.
Buy 1000 FMG at 23.99 as they gotta go above 24.00. In at 12.23pm and out at 12.50pm for a $60 profit. Get 1000 Z1P below 5.34 at 5.28 and wait. Keep waiting and eventually lock in $40 dollar profit at 5.32.
They do get to 5.34, but I’m long gone, down beach with beer in hand. Total profit for the day $100 and for the week $425.
+1000 Z1P at 5.28; -1000 Z1P at 5.32; Profit $40
+1000 FMG at 23.99; -1000 FMG at 24.05; Profit $60
Profit for week: $425
Less $70 brokerage
Net Profit: $355 for week