Confessions of a Day Trader: Zipitty doo dah – Zip goes my way!
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.
The sun has got his hat on today and getting used to my new trading office and timing was a bit off today. I had to double down twice on CBA and KGN.
KGN opened weaker and were down 30c when I buy 1000 at 10.40. That’s a fall from 12.50 from last Thursday. Was not the bottom as had to double down at 10.26. Luckily I was watching when they spiked (see graph). Out at 10.39 and walk away.
Same with CBA. Hit a high of 89.99 and having watched them drift, buy 1000 at 89.62. Forced to buy another 1000 at 89.40. Eventually they rally and I sell on a trigger limit at 89.59. All up plus A$280.
Z1P drift all day and close 1c off their day’s low. Will have a look at them tomorrow.
+1000 CBA at 89.62; +1000 CBA at 89.40; -2000 at 89.59; Profit A$160
+1000 KGN at 10.40; +1000 KGN at 10.26; -2000 at 10.39; Profit A$120
Watch Z1P all day, just drifting lower and put in a limit to buy 1000 at 7.85, when they are trading at 8.50 and wait.
Pick up 1000 CBA at 88.70, down 30c off their high. Double down at 88.56 and have to wait for them to get back to 88.70 again. Out at 88.71, to make A$160.
Try a quickie in APT just before the close but they don’t rally upwards, so had to cut them for a A$138 loss. Net for the day up A$22 and Z1P close at 8.02, with a low of 7.99.
+1000 CBA at 88.70; +1000 CBA at 88.56; -2000 at 88.71; Profit A$160
+300 APT at 116.21; -300 APT at 115.75; Loss A$138
Z1P open lower. They have fallen from almost 9.00 on Monday to below 7.99 today. Keep limit order in at 7.85, having hovered over the cancel order button three times. Get hit (which turns out to be their low) and wait. See them go over 8.20 but not hold, so sell them at 8.16.
APT also open lower and get back on the horse and buy 200 at 115.05. Still holding on to the saddle, just, as I have to buy another 200 at 114.09. Then they rally and happy to pocket A$92.
Then OMG, they hit 116.50 in literally a two-minute rally 30 mins later and then hit 117.99 in another two-minute rally. Swear jar, it over filleth.
In between all of this, FMG comes off its high and settles, so buy 1000 at 22.79 and wait for them to rally back to 23.00. Doesn’t happen. Buy another 1000 at 22.71 and then another 1000 at 22.62. Have to cut them at 22.62 for a A$300 loss.
Overall, end the day up just A$102.
+200 APT at 115.05; +200 APT at 114.09; -400 APT 114.80; Profit A$92 (Yee ha)
+1000 Z1P at 7.85; -1000 at 8.16; Profit A$310 (At last. Pay back time!)
+1000 FMG at 22.79; +1000 FMG at 22.71; +1000 FMG at 22.66; -3000 FMG at 22.62; Loss A$300 (Ouch. Got well and trully bucked on this one!)
Watch CBA come out the gates at 90.60 and within 50 mins they are trading at 90.00. Put in a trigger limit at 89.90 and then decide to buy 1000 at 90.01 as coming up to 11.00am. Eight mins later out at 90.08 for a A$70 profit.
Have KGN still on my watch list and they have come back from a high of 11.30 to 10.80. Buy 1000 at 10.79 and watch them keep falling. Put on a trigger sell at 10.89 and go for a beach walk. Come back and the position has been closed out with A$100 profit locked in at 10.89.
CBA are trading now at 90.30 and blow me down, 15 mins before the close, I get hit with 1000 at 89.89 which I promptly sell a few mins later at 89.99. Can’t believe this just happened.
All up plus A$270 for the day. APT kept going up and close above 120.00! (see graph)
+1000 KGN at 10.79; -1000 KGN at 10.89; Profit A$100 (had to stop watching them and go for a walk)
+1000 CBA at 90.01; -1000 CBA at 90.08; +1000 CBA at 89.89; -1000 CBA at 89.99; Profit A$270 (why they get pushed around so much, I don’t know.)
BPT is a big faller, down 24% so pick up 1000 at 1.30 and put on a trigger limit of 1.35 which never happens, so end up cutting them at 1.27 for a A$30 loss.
CBA become interesting and are trading at 5 cents either side of 89.00 and decide to have a bigger starting punt than usual. Buy 2000 at 88.98 and sell them at 89.03. Manage to get back in for 2000 at 88.99 and sell them at 89.05.
Could have done it one more time but didn’t want to push my luck. Made A$220 out of CBA, though brokerage was also higher than usual.
All up made A$190 for the day.
+1000 BPT at 1.30; -1000 BPT at 1.27; Loss A$30
+2000 CBA at 88.98; +2000 CBA at 89.03; -2000 CBA at 88.99; -2000 CBA at 89.05; Profit A$220
Gross Profit: A$764
Net Profit: A$312
Most Satisfying: Z1P (Wed)
Least satisfying: FMG (Wed)