[INTRA-DAY EXPERIMENT]
The exam went brill so I'm going to try some intra-day analysis and possible trades with £1k on some downtime tomorrow morning/early afternoon.
My 'Hot List' setup for tomorrow is:
Realistically, to beat a part time 'student' job over a 4 or 5 hour period, I need a return of £25 after brokerage which equates to 5%. These plays are valid for another few days so getting out before the days close doesn't really apply - particularly if the indicators are still good.
I don't day trade, but one day I would like to - so this is a chance to start learning.
0930 update:
Tried to buy GPOR at 471 as it looked like it was going to rally. My broker insisted I had "insufficient funds" to buy the stock, despite asking for £800 worth of my £1k amount for today. Needless to say this was entirely based on the fact that the price was steaming up, and within the 15 second quote timeframe the price increased to 475, with them being out of pocket. I tried again, it said the same, and the price went to 480. My broker is ridiculous. Also noted that quite often, my sells don't show up at all on time/sales - so it looks like I'm dealing with my dodgy broker instead of the open market.
Also just tried to buy into WTN strength but the spread is huge, and the manipulators are on board - the stock quotes keep dissapearing, re-loading, the buys go, the sells double, then it reverses etc etc.
There is nothing moving although SOLA is down 4.5% so I will be looking for a turn around there.
Temptation to load up more DES creeping in.
Update 1100
You can't beat this market - day trading equities in the UK - unless you're a broker or have insider info and you get in on closing the previous day. Nothing moves, you deal with crap brokers, big spreads etc. You really need some clout and that's the end of it.
Swing still looks good, but for now, I've topped up in DES and I'm not going to trade for a few weeks. Hopefully I get enough out of this position to enable me to move over to Interactive Brokers. Information is key, and IIIs is terrible, and so is their platform, and so is their level 2 service, and so is their reliability... I could go on and on about it but there's nothing I can do until I have US$10k.
I think this article explains it quite well: http://www.guardian.co.uk/business/2008/may/03/stockmarkets.investing
End of day update
Couldn't follow the happenings because I had a maths class - but a bit of movement post 1pm. I keep saying it, and I'll say it again. ReneSOLA, what a stock!
Also noticing VPC looks a lot like the chart of BP.
Not much else happening. From all the stocks on my hotlist yesterday only one of them was down. I have noticed the main time fluctuations are:
My 'Hot List' setup for tomorrow is:
- BBR
- SEO
- MARS
- RTN
- LAM
- YELL
- WTN
- GPOR
- RRS
- PET
- HAWK
- MNDI
Realistically, to beat a part time 'student' job over a 4 or 5 hour period, I need a return of £25 after brokerage which equates to 5%. These plays are valid for another few days so getting out before the days close doesn't really apply - particularly if the indicators are still good.
I don't day trade, but one day I would like to - so this is a chance to start learning.
0930 update:
Tried to buy GPOR at 471 as it looked like it was going to rally. My broker insisted I had "insufficient funds" to buy the stock, despite asking for £800 worth of my £1k amount for today. Needless to say this was entirely based on the fact that the price was steaming up, and within the 15 second quote timeframe the price increased to 475, with them being out of pocket. I tried again, it said the same, and the price went to 480. My broker is ridiculous. Also noted that quite often, my sells don't show up at all on time/sales - so it looks like I'm dealing with my dodgy broker instead of the open market.
Also just tried to buy into WTN strength but the spread is huge, and the manipulators are on board - the stock quotes keep dissapearing, re-loading, the buys go, the sells double, then it reverses etc etc.
There is nothing moving although SOLA is down 4.5% so I will be looking for a turn around there.
Temptation to load up more DES creeping in.
Update 1100
You can't beat this market - day trading equities in the UK - unless you're a broker or have insider info and you get in on closing the previous day. Nothing moves, you deal with crap brokers, big spreads etc. You really need some clout and that's the end of it.
Swing still looks good, but for now, I've topped up in DES and I'm not going to trade for a few weeks. Hopefully I get enough out of this position to enable me to move over to Interactive Brokers. Information is key, and IIIs is terrible, and so is their platform, and so is their level 2 service, and so is their reliability... I could go on and on about it but there's nothing I can do until I have US$10k.
I think this article explains it quite well: http://www.guardian.co.uk/business/2008/may/03/stockmarkets.investing
End of day update
Couldn't follow the happenings because I had a maths class - but a bit of movement post 1pm. I keep saying it, and I'll say it again. ReneSOLA, what a stock!
Also noticing VPC looks a lot like the chart of BP.
Not much else happening. From all the stocks on my hotlist yesterday only one of them was down. I have noticed the main time fluctuations are:
- 0800-0805 When the brokers make their profits and nobody has a chance
- A lot of stocks rally between 1330 and 1600, steadily
- Trade SOLA and nothing else lol
From this weeks Crystal Balling, 3 stocks up, 1 is down but still in target area. WTN up 44% (52 at peak), AU down about 1%, PFC up 2% (5.5 at peak), JPR 8% (10 at peak).
For tomorrow: BVS on momentum, ITRK for new highs, IEC on closing strength, BDEV on indicators and lows.
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