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 Not a good day in the office today.<\/p>\n Things got sold down and didn\u2019t bounce, for whatever reasons, and today was one of those days when my trading methodology gets completely trashed.<\/p>\n I always don\u2019t like Mondays as mentally it feels like a fresh start, when it should be just like any other trading day.<\/p>\n I\u2019ve added a screenshot of my watch list, so you will be able to cry with me as I look at today\u2019s P\/L.<\/p>\n Down $770 and have cancelled Santa.<\/p>\n Image: Marketech Recap<\/strong> A bit of an amazing day, especially with RIOs as after they had a bit of a fall, they really started to move around. They started the day at $124.50 and ended it at $124.88 however, in between they hit a high of $126.12 and a low of $123.81.<\/p>\n When I got set at $124.60, I instantly watched them fall another 20c in literally 20 secs plus some more and it wasn\u2019t until 3.58pm before they hit my limit.<\/p>\n Boy did they show some volatility. FMG were not as erratic, though I did leave a bit on the table. SHV had a big fall on news already out, so I just had to watch and wait for them to start to firm up.<\/p>\n However, the day\u2019s very first trade in CBA was the most bizarre, as they open for some reason at the wrong price. Really had to get my fingers and thumbs humming as below $103 seemed like a goer but they were moving pretty fast.<\/p>\n They reached their low of $102.35 and their high of $103.86 all within the first 30 mins of being open. Gripping stuff (and madness) all at the same time.<\/p>\n So, after today\u2019s effort of plus $1,150 I am now up only $380 for two day\u2019s effort and today it certainly felt like I was down in the trenches. See RIO\u2019s chart and you will see what I mean.<\/p>\n Image: Marketech Recap<\/strong> WTC opened below $65 and started to bounce, so got some and rode them for a bit after a bit of pain before the gain.<\/p>\n CBA had another fall and I hovered over the buy button at $103.16 but chickened out, so missed them but RIOs headed towards the $124 level and I picked them up for the bounce, which came good and faster than yesterday\u2019s result.<\/p>\n Up $560 and even though CBA didn\u2019t go red, NAB and WBC did even with better CPI overtunes. Strange times!<\/p>\n Image: Marketech Recap<\/strong> \u2018Mmmmmm.\u2019 That\u2019s all I can say about today, as I was staring down the barrel of a few losses, when the market went a bit mental in some of my loss makers.<\/p>\n I was literally sitting on a park bench, overlooking Little Beach when my P\/L made a major recovery, though I had to double down on CSL first.<\/p>\n When one of my customers said add them to your watch list, I didn\u2019t realise how manic they would be. <\/p>\n If you look at their chart at the 4.10pm close, you may need to rub your eyes a bit. Unbelievable!<\/p>\n CTT were a late developer and took a bit of time before they went through my limit and basically kept going up.<\/p>\n Punters ask me how do I know if a share is about to go up and I say \u2018easy, I just sell them and watch them go up\u2019.<\/p>\n Far out. Anyway, up $485 but hurting a bit in the commission conkers.<\/p>\n PS. Got a bit John McEnroe and chalk dusty on the charts but you have to imagine that I would have smashed three racquets by the end of the day. Deep breaths, now breathe out and lie down in a dark room!<\/p>\n Image: Marketech Recap<\/strong> Got stuck into ANZ on the get-go, as it looked like CBA were going to open up at the $105 level, ahead of their opening. Then with seconds to go, they were marked lower and actually opened up at $104.65.<\/p>\n Either way, I managed to lock in a 5c turn and then nothing, as it felt that everything was going to weaken off.<\/p>\n Eventually RIOs starting trading in the $123s and I watched them for a bit and then dived in. They bounced nicely for me (for a change).<\/p>\n The stock that I am shocked at is CSL. They can move $1.50 in 2 minutes and boy do they move around erratically. Have added you a chart to see what I mean.<\/p>\n Anyway, after starting the week out underwater and waving, things started to go my way as the week went on and I managed to scramble to the shore at the end of the week, with my shorts still attached to me so I wasn\u2019t exposed too much.<\/p>\n Up $640 today. The week came in up $2,065 gross or $1,524 net. I can only think that the weeks leading into Christmas are going to be hard trading wise.<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Underwater, not waving, washed up\u2026. alive<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday November 27<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 BHP @ 46.75
\nBought 1,000 CBA @ 102.92
\nSold 2,000 BHP @ 46.52 ($460 loss)
\nSold 1,000 CBA @ 102.61 ($310 loss)
\n\u00a0<\/p>\nTuesday November 28<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 CBA @ 102.90
\nSold 2,000 CBA @ 103.05 ($300 profit)
\nBought 2,500 SHV @ 3.18
\nSold 2,500 SHV @ 3.22 ($100 profit)
\nBought 1,000 RIO @ 124.60
\nBought 5,000 FMG @ 24.58
\nSold 5,000 FMG @ 24.66 ($400 profit)
\nSold 1,000 RIO @ 124.95 ($350 profit)
\n\u00a0<\/p>\nWednesday November 29<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 WTC @ 65.08
\nSold 1,000 WTC @ 65.29 ($210 profit)
\nBought 1,000 RIO @ 124.16
\nSold 1,000 RIO @ 124.51 ($350 profit)
\n\u00a0<\/p>\nThursday November 30<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 WTC @ 65.85
\nBought 500 CSL @ 259.71
\nBought 500 CSL @ 259.04
\nSold 1,000 CSL @ 259.59 ($215 profit)
\nSold 1,000 WTC @ 65.96 ($110 profit)
\nBought 2,500 CTT @ 2.93
\nSold 2,500 CTT @ 2.99 ($150 profit)
\n\u00a0<\/p>\nFriday December 1<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 5,000 ANZ @ 24.25
\nSold 5,000 ANZ @ 24.30 ($250 profit)
\nBought 1,000 RIO @ 123.75
\nSold 1,000 RIO @ 124.14 ($390 profit)<\/p>\n