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.

Tuesday April 19

Today was a do nothing day. Doing nothing is one of the hardest things to do when you are day trading.

It’s OK to do nothing but try not to tell anyone as you have to explain it and to a non-trader, they won’t get it.

Preserving your capital is the number one aim and then making it work for you is the next!

Added a couple of charts. RIOs died in the last 30 mins.

Image: Marketech
Image: Marketech


Wednesday April 20

RIOs came through with a cracker of a trade. They have been getting a bit volatile recently and results came out yesterday as well.

Managed to sell them towards the top of their pop and then switched into some BHP. AGL also popped up as a faller on a bit of bad news.

Happy to take a small turn in AGL and then doubled down on BHP. Put them on to sell at $52.94 but every time they started to move towards it, they fell back.

So out of frustration, I just cut them as they started to move into a loss.

Up $1165 for the day, thanks to RIO and having had looked but not played, today justified the wait!

Image: Marketech
Image: Marketech

Bought 1,000 RIO @ 119.28
Sold 1,000 RIO @ 120.56 ($1,280 profit)
Bought 1,000 BHP @ 52.96
Bought 1,000 AGL @ 8.23
Bought 1,000 BHP @ 52.72
Sold 1,000 AGL @ 8.27 ($40 profit)
Sold 2,000 BHP @ 52.76 ($155 loss)


Thursday April 21

Amazed at RIOs which were $120 yesterday and $116 today, so just had to pick some up again today.

In between that, MP1 were down 19% at one point, so went a bit larger on the size and took a 3c turn.

RIOs did recover and I left a bit more on the table, but a profit is a profit and up $380 for the day and a happy chappie.

Image: Marketech
Image: Marketech

Bought 1,000 RIO @ 116.13
Bought 5,000 MP1 @ 10.42
Sold 5,000 MP1 @ 10.45 ($150 profit)
Sold 1,000 RIO @ 116.36 ($230 profit)


Friday April 22

Both CBA and RIOs have wide price ranges today and they almost do the opposite to each other, as you will see from the charts.

I had a quick look on the opening and then a real serious one around midday. Could not believe CBA, as they had been around the $108 level for last couple of days and also this morning and then see a $105 on the front.

Happy to take a turn on them and did feel tempted to try and hold them to $106 but, being Friday and school holidays, just locked it in.

RIOs has been upto $122 recently and today they traded with a $110 on the front. Amazed at their range.

Bt 1000 and left them on a limit, which they did hit. Had a look at 3.30pm and thought, nah only 30mins to go so left alone and watched them close on a spurt.

Up $770 today and $2315 gross for the week or $2092 net. Still can’t believe RIOs!

Image: Marketech
Image: Marketech

Bought 1,000 CBA @ 105.59
Bought 1,000 RIO @ 113.04
Sold 1,000 CBA @ 105.88 ($290 profit)
Sold 1,000 RIO @ 113.52 ($480 profit)