{"id":3853,"date":"2024-01-01T18:30:20","date_gmt":"2024-01-01T18:30:20","guid":{"rendered":"https:\/\/economicherald.net\/?p=3853"},"modified":"2024-01-01T18:30:20","modified_gmt":"2024-01-01T18:30:20","slug":"confessions-of-a-day-trader-battling-low-volume-and-more-swing-than-a-prime-wasim-akram","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=3853","title":{"rendered":"Confessions of a Day Trader: Battling low volume and more swing than a prime Wasim Akram"},"content":{"rendered":"<p>Each Monday, 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<p><strong>Platform used:<\/strong>\u00a0Marketech<\/p>\n<p><strong>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<p><strong>Rules of engagement:<\/strong>\u00a0Never hold any positions overnight (unless forced) and try to avoid any suspensions (if possible). No shorting.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Wednesday 27th Dec<\/strong><\/h2>\n<p><span>Lower volumes coming into play today, as we would all expect.\u00a0<\/span><\/p>\n<p><span>Gold was up overnight and RRL touched $2.22 and I managed to get set at $2.18 and put them on a limit of $2.20, which later on had to drop to $1.19, just to get out.<\/span><\/p>\n<p><span>Eventually they came good.<\/span><\/p>\n<p><span>Went a tad too early in CBA, like 44c too early but luckily for me, had a lower limit hit below $111. Their range today was $110.76 to $111.84 on just over 1m shares of which 265,000 went through at 4.10pm.<\/span><\/p>\n<p><span>That is how quiet it is today. Up $660 though, which I am happy with, as not too much stress or effort needed.<\/span><\/p>\n\n<p><strong>RECAP<\/strong><\/p>\n<p><span>Bought 20,000 RRL @ 2.18<\/span><\/p>\n<p><span>Bought 1,000 CBA @ 111.35<\/span><\/p>\n<p><span>Bought 1,000 CBA @ 110.79<\/span><\/p>\n<p><span>Sold 2,000 CBA @ 111.30 ($460.00 profit)<\/span><\/p>\n<p><span>Sold 20,000 RRL @ 2.19 ($200.00 profit)<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><strong>Thursday 28th December<\/strong><\/h2>\n<p><span>CBA touch (and close at) $112.29 today, FMG touch $29.15 and the mighty RIO\u2019s hit a high of $136.65.<\/span><\/p>\n<p><span>Anyone would think it is Christmas!<\/span><\/p>\n<p><span>I can only come up with a couple of trades in the \u2018manic child\u2019, whose range was $285.00 to $288.17 on 500,000 shares.<\/span><\/p>\n<p><span>Not too bad. Up $680. Have a feeling that we may see a bit of profit taking tomorrow. Let\u2019s see.<\/span><\/p>\n\n<p><strong>RECAP<\/strong><\/p>\n<p><span>Bought 500 CSL @ 286.10<\/span><\/p>\n<p><span>Sold 500 CSL @ 286.95 ($425.00 profit)<\/span><\/p>\n<p><span>Bought 500 CSL @ 285.99<\/span><\/p>\n<p><span>Sold 500 CSL @ 286.50 ($255.00 profit)<\/span><\/p>\n<p>\u00a0<\/p>\n<h2><strong>Friday 30th December<\/strong><\/h2>\n<p><span>Well, last day of trading for the year and I was right about a bit of profit taking going on.<\/span><\/p>\n<p><span>Volumes low and as much swing as a test cricket bowler make for some interesting charts.<\/span><\/p>\n<p><span>Will let them speak for themselves. Finish the day up $710 and $2050 gross for the week ($1695 net).<\/span><\/p>\n<p><span>See you all back in 2024!<\/span><\/p>\n<p><span>Bottom Picker.<\/span><\/p>\n\n<p><strong>RECAP<\/strong><\/p>\n<p><span>Bought 1,000 WTC @ 75.17<\/span><\/p>\n<p><span>Sold 1,000 WTC @ 75.46 ($290.00 profit)<\/span><\/p>\n<p><span>Bought 500 CSL @ 285.83<\/span><\/p>\n<p><span>Bought 1,000 CBA @ 112.04<\/span><\/p>\n<p><span>Sold 500 CSL @ 286.45 ($310.00 profit)<\/span><\/p>\n<p><span>Sold 1,000 CBA @ 112.15 ($110.00 profit)<\/span><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/experts\/confessions-of-a-day-trader-battling-low-volume-and-more-swing-than-a-prime-wasim-akram\/\">Confessions of a Day Trader: Battling low volume and more swing than a prime Wasim Akram<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Each Monday, Stockhead\u2019s resident day trader gives us a peek at the highs and lows of his trading diary and hints at what might be <a href=\"https:\/\/economicherald.net\/?p=3853\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":3854,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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