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 Well today, CBA hit a high of $114.85 and closed 5c lower than there. Amazing stuff.<\/p>\n As soon as they opened at bang on $114, you could feel that they were going to rally higher but mentally, I just couldn\u2019t get into the sandpit with them to play, so I had to take my bucket and spade elsewhere.<\/p>\n So, Liontown and Chalice became my friends today, after both had pre market announcements which did not go down too well.<\/p>\n Liontown took two goes even though they opened up at $1.07, down from a close of $1.20, they still managed to nose dive and hit a low of 88c. <\/p>\n I caught them at 98c and at 91.5c and held on with both hands for the bounce, having set a limit sell order. <\/p>\n Chalice did fall as much % wise as Liontown and I had them on a higher limit, which I adjusted down, when they looked like they were struggling to rally.<\/p>\n Smaller amounts than usual being staked today but the gearing volume was still there. <\/p>\n In both cases, every 1c movement meant +\/- $100 so you still have to be nimble and on your toes.<\/p>\n I feel for the long term holders but to make $475 out of both of them day trading sort of brings home what it is all about.<\/p>\n Image: Marketech Recap<\/strong> Ah McCain, you\u2019ve done it again! CBA hit another all time high of $115.98. <\/p>\n Just couldn\u2019t make it by 2c. <\/p>\n Their day\u2019s low was $114.71, so a bit of a range and only solid buying most of the day, which meant I really could not come out to play today.<\/p>\n Had a quickish \u2018wham bam thank you ma\u2019am\u2019 in RRL but that was all. <\/p>\n Many screen looks and many thumb hovering action but just couldn\u2019t do it today, with any conviction.<\/p>\n Up $250 and can\u2019t wait to get Australia Day out of the way and a kinder market back for me.<\/p>\n Image: Marketech Recap<\/strong> Up $2,625. A complete opposite of the last few days. Finally, we got some profit taking which was a relief for me. <\/p>\n It was like the Fremantle Doctor blowing through my watch list, plus we had the benefit of Nanosonics falling 33% after a pre market announcement. They gave me three goes and CSL and CBA gave me two goes each.<\/p>\n After all my moaning yesterday, something finally cracked and I was in like Flynn. <\/p>\n CBA opened at their day\u2019s high of $116 and then their low was $114.53. CSL\u2019s range was $290.26 to $294.50.<\/p>\n My first two trades were completed by about 10.20am and I thought that was it.<\/p>\n See charts. They are quite amazing. <\/p>\n Image: Marketech Recap<\/strong> \u2018Anyone for pizza for breakfast?\u2019 I asked the coffee group today, after Domino\u2019s had a shocker pre market.<\/p>\n They went from a close of $58 to an opening of $46 and then the cheese just kept on melting down and at one point they touched a low of $39.10.<\/p>\n I, for my unhealthy sins, got in and out twice though I did have to double down on the topping as a bit of stock market indigestion hit me the second time around.<\/p>\n Again, all the news was out, so what more damage could be done around the $40 level, which would be down $18.<\/p>\n Got a takeaway profit of $1410 today, less the coffees, and my day was over. Could have gone a few times more in hindsight but was a happy chappie.<\/p>\n Up $4,760 for the (four-day) week gross ($4,405 net) and that\u2019s after whinging like a Pom on Tuesday, which maybe I should do a bit more of. Seemed to work.<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Throw another margherita on the barbie!<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday January 23<\/h2>\n
\nImage: Marketech<\/p>\n
\nBought 5,000 LTR @ 0.980
\nBought 10,000 CHN @ 1.025
\nBought 5,000 LTR @ 0.915
\nSold 10,000 LTR @ 0.980 ($325 profit)
\nSold 10,000 CHN @ 1.040 ($150 profit)
\n\u00a0<\/p>\nTuesday January 23<\/h2>\n
\nImage: Marketech<\/p>\n
\nBought 25,000 RRL @ 2.07
\nSold 25,000 RRL @ 2.08 ($250 profit)
\n\u00a0<\/p>\nWednesday January 24<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 CBA @ 115.06
\nSold 1,000 CBA @ 115.39 ($330 profit)
\nBought 500 CSL @ 291.79
\nSold 500 CSL @ 292.53 ($370 profit)
\nBought 1,000 CBA @ 114.84
\nBought 5,000 NAN @ 2.97
\nSold 5,000 NAN @ 3.01 ($225 profit)
\nSold 1,000 CBA @ 114.99 ($150 profit)
\nBought 500 CSL @ 290.64
\nBought 1,000 CBA @ 114.74
\nBought 5,000 NAN @ 2.90
\nSold 5,000 NAN @ 2.96 ($300 profit)
\nBought 500 CSL @ 290.38
\nBought 5,000 NAN @ 2.89
\nSold 5,000 NAN @ 2.93 ($200 profit)
\nSold 1,000 CBA @ 114.95 ($210 profit)
\nSold 500 CSL @ 291.32 ($405 profit)
\nSold 500 CSL @ 291.38 ($435 profit)
\n\u00a0<\/p>\nThursday January 25<\/h2>\n
\nImage: Marketech<\/p>\n
\nBought 1,000 DMP @ 41.13
\nSold 1,000 DMP @ 41.26 ($130 profit)
\nBought 1,000 DMP @ 40.41
\nBought 1,000 DMP @ 40.03
\nSold 2,000 DMP @ 40.86 ($1,280 profit)<\/p>\n