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 WDS had a high of $31.06, so when I got stuck into them at $30.40, I thought I was safe. But oh no!<\/p>\n They fell another 30c or so before I had to really double down. I had to adjust my original sell limit ($30.60) and went down to $30.30 and waited. Of course, if I had just left them alone, I would have been ok but oh no.<\/p>\n I had to start watching them didn\u2019t I and as they hovered around the $30.23\/24 level, I decided to adjust it down to $30.25 and out they went. Ten mins later they went through the $30.30 level and hit $30.40 before coming back down to (my) earth.<\/p>\n I tell you what though, watching CSL is amazing.<\/p>\n I\u2019ve nicknamed it my manic child, as it moves so fast. It\u2019s like it goes along ok and then has some orange-coloured drink and then goes manic.<\/p>\n $4.27 is the spread between their high of the day and their low of the day and 270,000 went through in the 4.10pm session, where they fell 80c from their 4.00pm close.<\/p>\n Had a little dabble in SYA and lost $50, which is a lot less than those who took them in their last placement price of 15c. I thought I could churn them out in the 4.10 session for a $100 profit, but not so.<\/p>\n Up $880 and Santa is back on.<\/p>\n Image: Marketech Recap<\/strong> RBA interest rate decision comes out at 2.30pm today and everyone is expecting nothing to happen.<\/p>\n Nothing did happen, so all this waiting around came in as a very dull day indeed.<\/p>\n Just to give me something to do, I just bought 100 CSL only, as figured the most I could lose would be $200.<\/p>\n In the end I made $49 and today was a \u2018billy don\u2019t be a hero\u2019 kind of day. See charts for more info.<\/p>\n Image: Marketech Recap<\/strong> Much stronger day today, with things like CBA threatening to break the $106 barrier, which it eventually did and didn\u2019t look back.<\/p>\n However, I was having fun with EVN, who had a massive placement go through overnight and the stock opened down 12% or 50c or so. <\/p>\n So two things: News already out and $3.80 was the placement price. I actually didn\u2019t read the full announcement, just the headline, hence the first purchase was for 3,000. <\/p>\n Having dipped the toe in, read the full announcement and topped up by another 7,000.<\/p>\n Very rare to see the moons line up for me in such a way \u2013 and it got exciting. <\/p>\n Much more so than yesterday. <\/p>\n Now, every 1c movement is +\/- $100 and this certainly gets the heart pumping. In between all of this, snuck in 1000 WTC at below $67 and some WDS at below $29.50.<\/p>\n WDS eventually came good and with WTC, I just closed them out for a small profit so I didn\u2019t have to watch anything, as all positions were now closed out.<\/p>\n Watched them go up by another $1 or so, though I was happy with my EVN punt. So happy, that when they were trading in the $3.53 level again in the afternoon, I just passed on them, so I could just wallow in my locked in profits.<\/p>\n Up $840 and a very happy chappy.<\/p>\n Image: Marketech Recap<\/strong> Sitting around and staring at my phone, wondering what to do, when WBT pop up as a faller. My last punt started in 5000. <\/p>\n Today started in 1000.<\/p>\n Then good old CBA fell below the $106 level. I stared, I waited and I thought. Surely they will test the $106 level and maybe break it on the upside.<\/p>\n Well, I thought too much about all of this as I went in, double the usual size and put them on at $106.10 to sell.<\/p>\n Too much time on my hands had me watching them hit $106 and then come back to my buying level. So I had a profit. Then I had breakeven, less the commission and back up to $106.<\/p>\n So, in my wisdom, I adjusted my limit down to $105.99 and got taken out.<\/p>\n What happened next is a textbook market kicking you in the nuts.<\/p>\n Dabbled in CSL and then had a punt in RIOs as a rebound trade, after CBA broke my heart and left me at the trading altar.<\/p>\n I will let CBA\u2019s chart tell my story. Up $395, after CSL stood me up, profit wise.<\/p>\n Image: Marketech Recap<\/strong> Overnight there was a bit of news coming through \u2013 Santos and Woodside are looking at a possible merger.<\/p>\n This news whacked WDS a bit more than I thought they deserve and as they started to rise, I thought I should jump on for the ride.<\/p>\n RIOs just fell for no reason, other than they did and I thought it a bit swift and sharp.<\/p>\n Both trades gave me some nice profits to end the day and the week on. <\/p>\n Was happy to be out and on the beach by 11.30am, as this weekend is going to be a hot one.<\/p>\n Up $760 today and $2924 gross or $2,383 net for the week and that\u2019s after a quiet one on RBA\u2019s Tuesday rate day.<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Some days are diamond, some days you get kicked in the nuts<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday December 4<\/h2>\n
\nImage: Marketech<\/p>\n
\nBought 2,500 WDS @ 30.40
\nBought 50,000 SYA @ 0.057
\nBought 5,000 WDS @ 30.10
\nBought 500 CSL @ 264.05
\nSold 7,500 WDS @ 30.25 ($400 profit)
\nSold 500 CSL @ 265.11 ($530 profit)
\nSold 50,000 SYA @ 0.056 ($50 loss)
\n\u00a0<\/p>\nTuesday December 5<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 100 CSL @ 263.54
\nSold 100 CSL @ 264.03 ($49 profit)
\n\u00a0<\/p>\nWednesday December 6<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 3,000 EVN @ 3.58
\nBought 7,000 EVN @ 3.56
\nBought 1,000 WTC @ 66.94
\nBought 2,000 WDS @ 29.43
\nSold 10,000 EVN @ 3.60 ($340 profit)
\nSold 2,000 WDS @ 29.53 ($200 profit)
\nBought 10,000 EVN @ 3.53
\nSold 10,000 EVN @ 3.55 ($200 profit)
\nSold 1,000 WTC @ 67.03 ($90 profit)
\n\u00a0<\/p>\nThursday December 7<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 WBT @ 3.80
\nBought 2,000 CBA @ 105.89
\nBought 1,000 WBT @ 3.78
\nSold 2,000 CBA @ 105.99 ($200 profit)
\nSold 2,000 WBT @ 3.84 ($100 profit)
\nBought 500 CSL @ 266.64
\nBought 1,000 RIO @ 127.48
\nSold 1,000 RIO @ 127.72 ($240 profit)
\nSold 500 CSL @ 266.35 ($145 loss)
\n\u00a0<\/p>\nFriday December 8<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 WDS @ 29.21
\nBought 1,000 RIO @ 127.66
\nSold 2,000 WDS @ 29.42 ($420 profit)
\nSold 1,000 RIO @ 128.00 ($340 profit)<\/p>\n