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Confessions of a Day Trader: What’s got two sore thumbs and an extra $7956 this week? This guy!
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Each week, 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 February 26
Today I retire at the end of the day with an injured trading thumb.
Like a madman possessed, I carried on from last week’s mega trading week, like nothing had changed down but only gone up.
The star standout out was TPG today, who offered lots of opportunity, then WOW and FMG and even the manic child CSL managed to put in an appearance.
The iron ore stocks all got hammered pre 3.00/3.30pm, which left me holding on till the grim death FMG, BHP and RIO with mixed results.
Up $3,500 exactly which is a bit of a round number worry for me, as after 27 trades it comes in at an exact number.
My thumb now resembles something Arnie Schwarzenegger would be proud of.
Can still hold a schooner though, as you will all be glad to know.
The coldness of the glass helps with the swelling, honestly!
Recap
Bought 5,000 TPG @ 4.99
Sold 5,000 TPG @ 5.05 ($300 profit)
Bought 5,000 TPG @ 4.88
Bought 5,000 WOW @ 32.81
Bought 1,500 BHP @ 44.36
Bought 5,000 WBC @ 26.01
Bought 500 CSL @ 286.47
Bought 5,000 FMG @ 28.28
Sold 5,000 WOW @ 32.89 ($400 profit)
Sold 5,000 TPG @ 4.95 ($350 profit)
Bought 5,000 FMG @ 28.13
Sold 10,000 FMG @ 28.30 ($950 profit)
Bought 5,000 WBC @ 25.90
Bought 5,000 WOW @ 32.78
Sold 10,000 WBC @ 26.02 ($650 profit)
Bought 1,500 BHP @ 44.11
Bought 1,000 RIO @ 122.65
Bought 5,000 FMG @ 27.95
Bought 5,000 WOW @ 32.68
Sold 500 CSL @ 286.95 ($240 profit)
Bought 5,000 TPG @ 4.80
Sold 5,000 TPG @ 4.87 ($350 profit)
Bought 5,000 FMG @ 27.62
Bought 1,500 BHP @ 43.92
Sold 10,000 WOW @ 32.77 ($400 profit)
Sold 10,000 FMG @ 27.85 ($650 profit)
Sold 1,000 RIO @ 122.58 (-$70 loss)
Sold 4,500 BHP @ 43.97 (-$720 loss)
Tuesday February 27
Today was a day where, just like a bad comedian who messes up the timing of his jokes and they fall flat, I was doing the same with my trading timing.
The joke became a poke in the eye for my P/L and had me concentrating a bit harder than I usually have to. The worst one was NEU and then followed by the manic child.
I had to go twice as, well, they started to behave themselves a bit and their good behaviour almost killed me mentally.
It was if they were at Sunday school and grandma was watching with a fist of pocket money coins.
Learning to use my other thumb today to buy and sell with and if I carry on at this rate, I reckon I will be using my nose to tap the buy and sell bits.
Still a few opportunities, though volumes in some are coming down a bit.
I only did a small trade in LYC as one of my coffee crowd follows them and keeps doing his dough, so now I can wind him up!
Up $2,270, which could have been heaps more if I hadn’t gone so early and waited till 11.00am.
Have a look at FMG and WOW and how they went.
Recap
Bought 5,000 TPG @ 4.69
Bought 1,000 LYC @ 5.60
Bought 5,000 NAN @ 2.74
Bought 500 CSL @ 285.73
Bought 5,000 FMG @ 27.34
Sold 5,000 TPG @ 4.72 ($150 profit)
Bought 5,000 WOW @ 32.99
Bought 5,000 WOW @ 32.89
Sold 10,000 WOW @ 32.99 ($500 profit)
Bought 5,000 FMG @ 27.10
Bought 500 CSL @ 284.66
Sold 5,000 NAN @ 2.84 ($525 profit)
Sold 10,000 FMG @ 27.33 ($1,100 profit)
Bought 2,000 NEU @ 21.81
Sold 1,000 LYC @ 5.70 ($100 profit)
Bought 5,000 TPG @ 4.67
Sold 5,000 TPG @ 4.72 ($250 profit)
Sold 1,000 CSL @ 285.50 ($305 profit)
Sold 2,000 NEU @ 21.48 (-$660 loss)
Wednesday February 28
I miss some opportunities today, as I become embroiled in an arm wrestle with NEU.
Having lost out to them yesterday, I was determined to get my revenge today.
Basically, I’m in early and waiting for a short squeeze.
Yesterday they closed at $21.48 and today I picked some up at $18.60. However, I manage to get involved twice at $19.50 in a bit of ying-yang trading.
All ends well, as you will see from the chart and also how vicious their turnaround was before they fizzled out a bit.
CBA below $116 was a winner but was let down by BHP and RIOs.
Cut the BHP and had to wait for the 4.10pm rotation as RIOs were looking a tad oversold.
Their chart today would make for an amazing ski run.
Up $1,855 after a morning of sweaty palms, thanks to NEU.
Recap
Bought 2,000 NEU @ 19.50
Bought 2,000 NEU @ 18.60
Sold 4,000 NEU @ 19.50 ($1,800 profit)
Bought 2,000 CBA @ 115.88
Bought 1,500 BHP @ 44.02
Bought 1,000 RIO @ 123.69
Sold 2,000 CBA @ 116.10 ($440 profit)
Sold 1,500 BHP @ 43.97 (-$75 loss)
Sold 1,000 RIO @ 123.38 (-$310 loss)
Thursday February 29
Not too much to say about today but picked up a couple of, what turned out to be, bargains.
They both rallied a lot more after I was long gone and down the beach. CSL even managed to rally $1.00 in their 4.10pm match up.
CBA below $116 again, was something to watch, especially before 11.00am.
Can’t really add much about today bar what the charts say.
Up $1,150 and that was squeezed in on an extra leap year day.
Recap
Bought 2,000 CBA @ 115.54
Bought 500 CSL @ 283.66
Sold 500 CSL @ 284.72 ($530 profit)
Sold 2,000 CBA @ 115.85 ($620 profit)
Friday March 1
Not much to write about today, as the trading week ended with just one trade.
FMG rose from the ashes and CBA closed at their day’s high of $117.36, having opened at $116.75.
For some reason, CSL were marked down and at one point touched $281.50, having been $285 yesterday.
Up $9,260 (or $7,956 net) and a sore trading thumb, after starting the week with 28 trades, as this reporting season just keeps on giving on the volatility front. Yay!
Recap
Bought 500 CSL @ 282.00
Sold 500 CSL @ 282.97 ($485 profit)
