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 traded in the 97s which normally would call for a celebration for me, as at long last they are doing what I thought they should be doing weeks ago.<\/p>\n It\u2019s been like death by a thousand knives watching and waiting for them. Problem was today were the low volumes in the morning before they picked up on heavier selling.<\/p>\n Not just in CBA but everything I was watching. Had a quick go in PLS and their volume was 49m and they closed at their day\u2019s low.<\/p>\n RIOs, who were $119 last week, traded in the 111s and they did me proud today but unfortunately, I was let down by WDS, whose range today was $36.38 to $35.03 on half of their usual volume.<\/p>\n Luckily for me they had a late 15c spurt in the 4.10pm session, otherwise I would have had a red day. <\/p>\n Plus $340 and this week is going to stay a hard one. CPI figs out on Wednesday which will result in a bit more volatility if better than expected, as the general trend is still downwards.<\/p>\n Image: Marketech Recap<\/strong> I wish all days were like this. NCM and WDS looked like easy ones to pick for me though the only problem was with WDS, who I went into softly after yesterday\u2019s fingers burnt experience.<\/p>\n Quick profits and then a limit trigger in A2M produced a lazy $150 and then WBT came onto my radar after they broke down below $3.99.<\/p>\n Also put them on a limit, which they went through by 10c or more.<\/p>\n Up $960 and made it to the beach after lunch, as I didn\u2019t need to look too much at my phone. My day was done. Went for the first swim of the year and boy was it cold.<\/p>\n Image: Marketech Recap<\/strong> Well CPI figs came out today at 11.30am. I just hung back in the shadows until they came out.<\/p>\n A bit worse than everyone expected, so everything got marked down as you will see from the charts.<\/p>\n Even WDS got whacked and after I bought 1000 I thought about how stupid it was that this CPI figure should do so much damage to an oil producer, so I just doubled my position.<\/p>\n This turned out to be a wise move though my punt in CBA didn\u2019t. This was more about following them to see how they reacted. <\/p>\n Lost $150 but was worth the lesson. <\/p>\n Their range was $98.55 to $97.12 on 1.66m shares which is a bit bigger than the last few days.<\/p>\n Came out the other side in profit today, so I was happy with that. Back to another hospital appointment tomorrow, so I will be watching with interest as I\u2019m in the waiting room.<\/p>\n Up $340.<\/p>\n Image: Marketech Recap<\/strong> Well, at long last CBA start trading in the 96s and amazingly they closed at bang on $97.00 with 2.29m shares going through. They also gave me an 11.00am special today.<\/p>\n They opened at $96.99 and closed at $97.00!<\/p>\n That\u2019s one for the record books! <\/p>\n Over 2m shares trade and they finish 1c above their opening price.<\/p>\n A bit of hospital waiting room trading went on today and even though I hate hospitals (everyone looks so ill!) I may have to go back and sit there just to trade, going by today\u2019s form.<\/p>\n Up $940 for the day and a special thanks to MP1 for doing what you did. They made me feel so much better than any doctor I met.<\/p>\n I wonder if we will see $95 tomorrow?<\/p>\n Image: Marketech Recap<\/strong> Not much I can do today.<\/p>\n Managed to grab some WBT as they hurtled downwards towards 11.00am, so could only presume someone was being margined out.<\/p>\n Put them on a $200 profit limit and eventually they got there.<\/p>\n Being a Friday, the volumes were still not that great and the volatility was just not really there for me today.<\/p>\n CBA was up 55c on their open and that just happened to be their low for the day. <\/p>\n What a steal in the 96s they were. So much for $95 \u2013 maybe next week?<\/p>\n Up $200 today and $2,780 gross for the week or $2,367 net and this week included having those CPI figs come out.<\/p>\n Image: Marketech Recap<\/strong> <\/span><\/p>\n The post Confessions of a Day Trader: Some shrinkage evident<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Monday October 23<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 WDS @ 35.63
\nBought 1,000 WDS @ 35.56
\nBought 5,000 PLS @ 3.67
\nSold 5,000 PLS @ 3.70 ($150 profit)
\nBought 1,000 WDS @ 35.43
\nBought 2,000 RIO @ 111.34
\nSold 2,000 RIO @ 111.78 ($880 profit)
\nBought 3,000 WDS @ 35.07
\nSold 6,000 WDS @ 35.19 ($690 loss)
\n\u00a0<\/p>\nTuesday October 24<\/h2>\n
\nImage: Marketech
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 NCM @ 24.02
\nBought 1,000 WDS @ 35.21
\nBought 2,000 NCM @ 23.97
\nSold 4,000 NCM @ 24.08 ($340 profit)
\nSold 1,000 WDS @ 35.50 ($290 profit)
\nBought 2,500 A2M @ 3.98
\nSold 2,500 A2M @ 4.04 ($150 profit)
\nBought 2,000 WBT @ 3.91
\nSold 2,000 WBT @ 4.05 ($280 profit)
\n\u00a0<\/p>\nWednesday October 25<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 WDS @ 34.64
\nBought 1,000 CBA @ 97.50
\nBought 1,000 WDS @ 34.65
\nSold 1,000 CBA @ 97.35 (-$150 loss)
\nSold 2,000 WDS @ 34.89 ($490 profit)
\n\u00a0<\/p>\nThursday October 26<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 1,000 CBA @ 96.71
\nSold 1,000 CBA @ 96.96 ($250 profit)
\nBought 1,000 CBA @ 96.76
\nBought 2,000 WDS @ 34.83
\nSold 2,000 WDS @ 34.90 ($140 profit)
\nBought 2,000 MP1 @ 9.25
\nBought 2,000 MP1 @ 9.12
\nSold 1,000 CBA @ 96.85 ($90 profit)
\nSold 4,000 MP1 @ 9.30 ($460 profit)
\n\u00a0<\/p>\nFriday October 27<\/h2>\n
\nImage: Marketech
\nImage: Marketech<\/p>\n
\nBought 2,000 WBT @ 3.77
\nSold 2,000 WBT @ 3.87 ($200.00 profit)<\/p>\n