Confessions of a Day Trader: The gloves are off for 2021!
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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.
My day did not go as planned and it threw me as I wanted to be at my desk for the opening. Instead, stuck in Woolies and had to use their free wifi to fire up my phone.
Bt 1000 FMG at 23.92 as they were starting to fly. Time 10.10am. Put them on a limit of 23.99. Get taken out as driving home.
Profit for the day is $70 but had so many ideas for start of year… so frustrated. Regrouping for tomorrow.
+1000 FMG at 23.92; -1000 FMG at 23.99; Profit $70 (but could have been so much more)
Start the trading day early and buy some FMG at 24.80 and put them out on a higher limit of 24.95 and go and have a shower and a quick bite to eat. Come back and taken out whilst in the shower! Nice $150 profit whilst lathering myself up.
Had a low limit buy on in Z1P, at 5.30 and in my wisdom, decide to change it to market and buy 1000 at 5.40. Not a clever move as it turns out, as have to average and buy another 1000 at 5.34, which leaves me long of 2000 at 5.37 average. Forced to cut just before the close at 5.34 and see they close lower.
In between all of this I dipped my toe into APT and bt 100 at 118.35 and sold them on a limit at 118.94. This made $59 and Z1P cost me a $60 loss, so overall made $149 for the day.
+1000 FMG at 24.80; -1000 FMG at 24.95; Profit $150 (made whilst singing in the shower)
+100 APT at 118.35; -100 APT at 118.94; Profit $59
+1000 Z1P at 5.40; +1000 Z1P at 5.34; -2000 Z1P at 5.34
Loss $60 (my mistake – should have stuck to 5.30 limit)
Decided that I now have my mojo back after the Christmas break and its off-putting trading days and hours. Going to notch up my aggressiveness a bit.
Transfer more funds into my trading account and put on some limits with double my normal buying size and go out to a couple of meetings. Have 2000 FMG on at 24.10 limit and 2000 Z1P at 5.30 limit.
Come back and see that FMG touched a low of 25.20 and now 25.29 having been as high as 25.79, whilst I had that limit order on. Adjust limit to market and buy 2000 at 25.29. Very quickly they move back down and looking at a $100 loss.
Stick to my guns and leave a limit sell on at 15.32 and cancel limit order in Z1P (5.30). Sell 2000 FMG at 25.32 and then back in at 25.27 for 2000. Forced to double down at 25.15, so now long of 4000 FMG. Sell 2000 at 25.30 and 2000 later at 25.26.
Then just before the close, parking up at the beach and buy 2000 FMG at 25.08 and put them on a 25.12 limit. 15 mins of trading left and this time get taken out whilst swimming.
See graph for an amazing trading range and day! Made $440 for the day.
+2000 FMG at 25.29; +2000 at 25.27; +2000 at 25.15; +2000 at 25.08; -2000 FMG at 25.32; -2000 at 25.30; -2000 at 25.26; -2000 at 25.12; Profit $410
+200 APT at 113.09; -200 APT at 113.25; Profit $30
APT are on a bit of a downward spiral from the open and then some stop loss selling must have kicked in. Buy 200 at 107.98 and wait for them to go back above 108, which they don’t! So have to double down at 106.17 see them head towards 105 and then they bounce.
Sell 200 at 107.22 and 200 at 107.34. See them come back down to 107, so buy 400 at that level and sell them 10c higher.
Left a bit on the table though! Have a quick punt in FMG having seen them shoot above 26.00 and come back down to that level. All up make $212 for the day.
+2000 FMG at 26.00; -2000 at 26.05; Quick $100 profit
+200 APT at 107.98; +200 APT at 106.17; -200 at 107.22; -200 at 107.34; +400 APT at 107.00; -400 at 107.10; Profit $112
FMG are off to an interesting start. Having been above 26.00 yesterday, they open lower on no news from what I can see and at just below 25.50 I pounce on 2000 at 25.48 and then have to double down at 25.34 four mins later.
Mmm, very volatile and then they bounce. By fluke 25.34 was the low point so far for the day. Pocket $320 profit 5 mins after that low.
Amazing stuff and bit hairy, so decide that’s it for me for the day, as can see me losing that and more if I go back in.
+2000 FMG at 25.48; +2000 FMG at 25.34; -4000 FMG at 25.49; Profit $320
Gross profit for the week: $1,191
Net profit for the week: $1,036