Confessions of a Day Trader: (Tell me why) I don’t like Mondays
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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: 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.
Well, I had to give a few things a go today.
WGX were down 14% after they raised $100m in a placement, so picked up a few and put them on a limit and waited.
Iron ore was up but BHP and FMG were down, so also had a go. Won on BHP but lost out on FMG.
CBA broke through the $100 level and never looked back (having struggled to hold above it on Friday). Not much exposure to Russia and a successful bond raise gives them some umph.
Lost $75 overall.
Bought 3,000 WGX @ 2.075
Bought 2,000 FMG @ 18.23
Bought 1,000 BHP @ 47.37
Sold 1,000 BHP @ 47.49 ($120.00 profit)
Sold 3,000 WGX @ 2.11 ($105.00 profit)
Bought 2,000 FMG @ 18.00
Sold 4,000 FMG @ 18.04 (-$300.00 loss)
CBA keeps going up, so had a go at ANZ below $26.00 but before that CHN gets the wobbles and I pick some up. Had to keep doubling down and 2000 became 10,000 and was down $1200 at one point.
Eventually they did rally and I happily locked in a profit one cent higher at just below $6.70 and bingo.
Smaller profit ANZ as they didn’t rally like CBA, so they seem to breaking away from the other three banks.
Up $400 today. Don’t know what tomorrow will bring.
Bought 2,000 CHN @ 6.85
Bought 2,000 ANZ @ 26.90
Bought 2,000 CHN @ 6.69
Bought 2,000 CHN @ 6.68
Bought 4,000 CHN @ 6.54
Sold 10,000 CHN @ 6.69 ($300.00 profit)
Sold 2,000 ANZ @ 26.95 ($100.00 profit)
Managed to get in an 11am special in BHP today, but everything else managed to escape me.
CBA touched $104.79 and closed at 3c below that level.
CHN were playing around but had a rally towards the end of the day, which was too late for me. I had already closed the laptop and gone home.
Up $380 out of one trade. I can handle that on days like this.
Bought 1,000 BHP @ 44.95
Sold 1,000 BHP @ 45.33 ($380.00 profit)
Market up overnight, so CBA should smash through $105 and maybe even touch $106. Lost my mojo a bit on them as they haven’t had a real down day recently.
Picked up some BHP and even some CBA. I’m back on the horse. Yipee!
Not a big day profit wise, but everything burst out of the gates. CBA opened at $107, to give you a clue, and BHP were just steady Eddie.
Plus $380, the same as yesterday!
Bought 1,000 BHP @ 45.59
Bought 1,000 CBA @ 105.56
Sold 1,000 CBA @ 105.83 ($270.00 profit)
Sold 1,000 BHP @ 45.70 ($110.00 profit)
Friday March 18
Early on CBA had a low of $105.31 after opening 40c or so higher. They bounced from there, so looking at them 25c or so higher I decided to put a limit in for 1000 at their recent low.
Low and behold do I not only get hit but they fall to $105.10, just to give me some pain.
Eventually they start heading towards $106.00 and a Happy Gilmore to send them on their way at $105.87, lock it in Eddie.
They jump to their day’s high in the 4.10pm match up session – see chart.
So after another eventful week, I manage to get my mojo back on CBA and am looking forward to Monday morning!
Finish the week up $1695 gross or $1503 net in which we had our first USA rate rise, continued worries on inflation and the continuation of a war in Europe.
Bought 1,000 CBA @ 105.31
Sold 1,000 CBA @ 105.87 ($560.00 profit)