{"id":2324,"date":"2023-11-26T19:00:57","date_gmt":"2023-11-26T19:00:57","guid":{"rendered":"https:\/\/economicherald.net\/?p=2324"},"modified":"2023-11-26T19:00:57","modified_gmt":"2023-11-26T19:00:57","slug":"confessions-of-a-day-trader-its-all-gravy","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=2324","title":{"rendered":"Confessions of a Day Trader: It\u2019s all gravy!"},"content":{"rendered":"

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

Monday November 20<\/h2>\n

Come into a higher oil price and a not too hot WDS share price, so they just looked so obvious to me.<\/p>\n

Then lurking in the background was WTC and they were hovering around the $67 level, having touched $68.15 earlier on.<\/p>\n

Both came good though I missed WTC\u2019s first spike after my buy and put them both on a limit. Just closed my eyes and imagined what was a level they could both reach and that was that.<\/p>\n

Up $475 on a Monday. Me and Bob Geldof don\u2019t like Mondays.<\/p>\n

Image: Marketech
\nImage: Marketech<\/p>\n

Recap<\/strong>
\nBought 2,500 WDS @ 31.65
\nBought 3,000 WTC @ 67.02
\nSold 2,500 WDS @ 31.72 ($175 profit)
\nSold 3,000 WTC @ 67.12 ($300 profit)
\n\u00a0<\/p>\n

Tuesday November 21<\/h2>\n

Everything has turned blue on my watch list except for WTC and then SGF popped up as a big faller after a large shareholder sold down a parcel.<\/p>\n

Having seen WTC finding support at $67 or should I say a level of interest, below $67 seemed a must. Volume was a bit smaller today than yesterday when I started to get involved.<\/p>\n

I just watched them, took my profit and then lo and behold they touched $67 again before collapsing in a heap towards the close. An interesting chart indeed!<\/p>\n

Up $540.<\/p>\n

Image: Marketech
\nImage: Marketech<\/p>\n

Recap<\/strong>
\nBought 2,000 WTC @ 66.41
\nBought 5,000 SGF @ 2.21
\nSold 5,000 SGF @ 2.25 ($200 profit)
\nSold 2,000 WTC @ 66.58 ($340 profit)
\n\u00a0<\/p>\n

Wednesday November 22<\/h2>\n

Got stuck into things after midday, as had to go to a business meeting in the morning with 40 mins of driving either side.<\/p>\n

CBA above $104 and RIOs above $128 is what I find. Then we had WTC trading in the 65s so I thought that $66 may be their new $67.<\/p>\n

So with BHP and RIOs up, FMG were lagging behind and gave them my best shot, which cost me $100 so ended the day up $240, or should say half-day.<\/p>\n

Back full time tomorrow.<\/p>\n

Image: Marketech
\nImage: Marketech<\/p>\n

Recap<\/strong>
\nBought 5,000 FMG @ 25.46
\nBought 2,000 WTC @ 65.74
\nSold 2,000 WTC @ 65.91 ($340 profit)
\nSold 5,000 FMG @ 25.44 ($100 loss)
\n\u00a0<\/p>\n

Thursday November 23<\/h2>\n

Was travelling along OK with a couple of nice profits under my belt when the iron ore amigos took a tumble, so loaded up RIOs, BHP and FMG.<\/p>\n

Having said that, CBA gave me a hard time around that $103 level, which I thought could happen and it did.<\/p>\n

America shut tonight and a half-day on Friday, so I suspect things won\u2019t get better than today!<\/p>\n

Up $2,130.<\/p>\n

Image: Marketech
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n

Recap<\/strong>
\nBought 5,000 WBT @ 3.59
\nBought 1,000 CBA @ 103.11
\nBought 1,000 CBA @ 102.95
\nSold 5,000 WBT @ 3.65 ($300 profit)
\nSold 2,000 CBA @ 103.40 ($740 profit)
\nBought 1,000 RIO @ 125.62
\nBought 2,000 BHP @ 46.89
\nBought 5,000 FMG @ 24.80
\nSold 5,000 FMG @ 24.91 ($550 profit)
\nSold 1,000 RIO @ 125.94 ($320 profit)
\nSold 2,000 BHP @ 47.00 ($220 profit)
\n\u00a0<\/p>\n

Friday November 24<\/h2>\n

With no lead from America, thanks to their Thanksgiving holiday, not expecting too much action.<\/p>\n

A coffee customer and fellow trader of shares suggested I should add CSL to the watch list today. Gave them a crack and ended up down $125 in them, having been up $170 at some point.<\/p>\n

So, starting to get a feel for them, though the commission is a big factor, hence my loss as my limit sell order was too high and so I rode them till the death.<\/p>\n

WTC had a tumble and traded in the $62s which is down about 8% from Monday\u2019s trading level. <\/p>\n

Went a bit gingerly on the size but still got out handsomely, so a nice end to the week for me but not for all of those turkeys. <\/p>\n

46m they reckon were eaten last night. <\/p>\n

That\u2019s a lot of gravy. Talking of gravy, that\u2019s up $515 today and $3,900 gross or $3,408 net for the week.<\/p>\n

See you all on Monday!<\/p>\n

Image: Marketech
\nImage: Marketech<\/p>\n

Recap<\/strong>
\nBought 1,000 WTC @ 63.14
\nSold 1,000 WTC @ 63.78 ($640 profit)
\nBought 500 CSL @ 258.34
\nSold 500 CSL @ 258.09 ($125 loss)<\/p>\n

<\/span><\/p>\n

The post Confessions of a Day Trader: It\u2019s all gravy!<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

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