Each week, Stockhead\u2019s 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.<\/p>\n
Platform used:<\/strong>\u00a0Marketech<\/p>\n Round Trip:<\/strong>\u00a0A round trip is $10 up to $25,000 and then above $25,000, commission is at 0.02% in and at 0.02% out.<\/p>\n Rules of engagement:<\/strong>\u00a0Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.<\/p>\n \u00a0<\/p>\n Start the day with a profit and end the day with a profit. However, in the middle I suffer a loss and the last day\u2019s profit came in at $15 or a couple of schooners in Happy Hour. <\/p>\n ANZ was alright and the only big faller in the banks today, after their figs came out. At their last trade of $24.70, they were down 3% or so.<\/p>\n TPG fell and stayed there, like a stone at the bottom of a pond and WDS floated around on top and on both of these I just sold them before the 4.10pm rotation.<\/p>\n Down, drum roll please, $7.50 for the day! Far out. <\/p>\n Serves me right for not paying 100% attention and I promise to myself to try a little harder tomorrow.<\/p>\n Image: Marketech Recap<\/strong> CBA came out with their figures and they opened up strongly, whilst NAB went xd and got whacked on the opening by 70c or so. <\/p>\n Just had a limit order in before the opening and got hit very quickly and watched them quickly move around. Although I had them on at a higher limit, I kept adjusting it down till eventually we met each other.<\/p>\n Then, having seen CBA at $102.35 at their opening, I thought that getting set at $101.74 didn\u2019t seem too bad a deal. For once it turned to my favour.<\/p>\n Later on, as I was kicking back, NAB fell below $28.00, so I put some on at a lower limit, which turned out to be a nice little earner.<\/p>\n Love these xd days!<\/p>\n Up $1,110 and I also bank with NAB with my EFTPOS machine, it\u2019s even sweeter as they charge 1.5% per transaction, so thank you NAB, from the bottom of my trading account.<\/p>\n Image: Marketech Recap<\/strong> Well, RIOs hit a day\u2019s high of $127.31 and CBA touch $103.64 to paint you a picture of today\u2019s market.<\/p>\n Amazing stuff.<\/p>\n CBA had a day\u2019s low of $101.92 and I manage to pick up 1000 as they headed towards it. Also, NAB below $28.00 came out alright but BHP below $47 didn\u2019t. <\/p>\n Thems are the breaks.<\/p>\n Up $705 and was in awe of RIOs today \u2013 or should it be \u2018ore\u2019? <\/p>\n Either way there was a time when they and CBA would trade at par to each other\u2019s share prices and now they have a difference of $23.46 in RIO\u2019s favour.<\/p>\n Image: Marketech Recap<\/strong> Had an early go in CBA ahead of employment figures due at 11.30am, so wanted to be in and out before then. Worked out OK.<\/p>\n Then, went all into the banks and switched into the iron ore producers and then one more go into CBA.<\/p>\n This was after the employment figures were published, which the market didn\u2019t like, though I read the headlines and thought about it and reckon the market was overreacting a bit too much.<\/p>\n I am but a simple thinker and more employed means more can afford their mortgage repayments, was my logic.<\/p>\n See charts as it was a busy day for me. Up $1,285.<\/p>\n Image: Marketech Recap<\/strong> Did nothing today, as got a bit distracted and missed the fall in CBA at around 11.45am to 12.00pm but being a Friday and all that, I wasn\u2019t really trusting anything.<\/p>\n They had an impressive 2.73m go through, though at the end of the day, their starting price and closing price came in at just plus 9c difference.<\/p>\n That\u2019s a lot of shares for plus 9c and over a 5hr and 10min period!<\/p>\n Whereas RIOs came in with a difference of plus $1.27 from their opening and closing pricing. <\/p>\n They touched their bottom at 11.00am, recovered and then stayed in a tight zone, right till the very end.<\/p>\n See charts on them both.<\/p>\n Finished the week plus $3,107.50 gross or $2377.50 net and all I can say is, thank Christ for the 50c. Best tip I\u2019ve had all week, as I didn\u2019t get many from my tighter and older customers this week, eh Richard and Bill?<\/p>\n <\/span><\/p>\n The post Confessions of a Day Trader: Iron awe!<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday November 13<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,500 WDS @ 31.98
\nBought 2,000 ANZ @ 24.55
\nSold 2,000 ANZ @ 24.62 ($140.00 profit)
\nBought 1,000 TPG @ 4.845
\nBought 2,500 WDS @ 31.845
\nSold 5,000 WDS @ 31.88 ($162.50 loss)
\nSold 1,000 TPG @ 4.86 ($15.00 profit)
\n\u00a0<\/p>\nTuesday November 14<\/h2>\n
\nImage: Marketech<\/p>\n
\nBought 5,000 NAB @ 28.23
\nSold 5,000 NAB @ 28.31 ($400.00 profit)
\nBought 2,000 CBA @ 101.74
\nSold 2,000 CBA @ 101.87 ($260.00 profit)
\nBought 5,000 NAB @ 27.89
\nSold 5,000 NAB @ 27.98 ($450.00 profit)
\n\u00a0<\/p>\nWednesday November 15<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,500 NAB @ 27.78
\nBought 1,000 CBA @ 101.98
\nBought 2,000 BHP @ 46.91
\nSold 1,000 CBA @ 102.31 ($330.00 profit)
\nSold 2,500 NAB @ 27.97 ($475.00 profit)
\nSold 2,000 BHP @ 46.86 ($100.00 loss)
\n\u00a0<\/p>\nThursday November 16<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 CBA @ 102.28
\nSold 2,000 CBA @ 102.52 ($480.00 profit)
\nBought 2,000 CBA @ 102.32
\nBought 5,000 NAB @ 27.77
\nBought 5,000 ANZ @ 24.15
\nSold 5,000 NAB @ 27.82 ($250.00 profit)
\nSold 5,000 ANZ @ 24.18 ($175.00 profit)
\nCut 2,000 CBA @ 102.28 ($80.00 loss)
\nBought 2,000 BHP @ 46.70
\nBought 5,000 FMG @ 25.08
\nBought 2,000 CBA @ 101.92
\nSold 2,000 CBA @ 102.11 ($380.00 profit)
\nSold 5,000 FMG @ 25.11 ($150.00 profit)
\nCut 2,000 BHP @ 46.66 ($70.00 loss)
\n\u00a0<\/p>\nFriday November 17<\/h2>\n