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The Daily Journey Of An Experienced Day TraderBy Author
Wake at 7:30 and place 3 short orders and go back to bed for a couple of hours.
Wake at 10:00 to find none of my trades have triggered. Confident they will and there's nothing new that takes my fancy, I decide to write up a piece on a seminar attended last night and post it on the TNT thread, the finest non-specific thread on ADVFN.
My new Skype buddy, who I met at a seminar earlier this year, is wondering where I am and is relieved to see me log in. We discuss our trades and evaluate their merit. Today he is long and I am short but we both agree our trades are sound.
A stop is hit on AHT - I've been in and out all year but my last trade didn't work. The automatic stop got me out before the worst of the fall, job well done, no tea and toast required.
One of my intended shorts CW. may lose its place in FTSE100. When this gets known my short will surely fly and I flirt with entering the trade before my target price is reached. No, discipline is important; I decide to leave my limit order where it is.
Today I am watching the AAEX - it's been consolidating at a critical level and I can see an easy short to 383 mark. It low tests but rebounds; I shall wait for an end of day close below my target before entering the trade. A good example of where a limit order wouldn't have worked.
I notice all my candidate shorts are going up but that doesn't bother me. I'm regretting my BUR and CSR share purchases of yesterday but they were small and I will add if they fall further. Both will do well when things recover. Bur is fine given it's XD today.
My recent M&S share purchase into my SIPP is looking sound. I'm pleased to be back in and Moody have upgraded them. Meanwhile I'm eyeing up my SIPP cash wondering what to do. Today doesn't seem to be the right day to decide; it's a do nothing day.
The phone rings and it's MBNA offering me 6k for 9 months at 0% interest. I have to pay a one-off £75. They agree to pay it into my current account. Excellent, that frees up the money I need to fund my ISA, saving me 9/12 of 5% in lost interest on the cash.
The post arrives and my interest statement from ZOPA is there. Zopa is an innovative idea set up by the founders of EGG, which allows people like 'us' to lend and borrow to each other. Now I can complete my tax return...a job for this afternoon methinks.
Also in the post are two books from global investor bookshop. My name is on the packet but I haven't ordered these books. 'Extraordinary popular delusions' and 'superhobby investing'. I shall enjoy the former and sell the latter on ebay, shame it's got a slightly bent spine. Why they have been sent to me is a mystery.
I get an email from the chap who's going to give me a lesson on Level 2 - I'm new to level 2 and as chance would have it I met someone a couple of weeks ago who said they would be happy to take me through it. I have IGMarkets level 2 but this chap deems this insufficient so I call ADVFN and plead successfully for a free day. T will take me through it tomorrow and then I guess I will have to fork out for it.
The cat comes for a cuddle. He's not a lap cat but 2 or three times a day he jumps up for a cuddle and nudges my nose. It's over in an instant.
I check back on my intended shorts but they are all still going up.
My short of Glyn on BB is not looking good but I agree with TNT that Nikki is strong. I decide to buy Nikki and keep Glyn short open, hoping that Nikki will prevail. Either way, I am still confident I picked the winner on day one.
Time for lunch. My table at my café is occupied, don't these strangers know that it's MY table. Reluctantly I sit at the next table and keep up with my positions on my mobile XDA Mini phone, hooking into an unsecured wireless network under the name of 'monkey_penis'. Who cares. My potential shorts are still going up.
There's a long trade shaping up on VPC. I'll wait to see several ticks above my entry price; caution is the order of the day. No, I decide instead to put in a limit order which will trigger tomorrow if my price is met. No emotion allowed.
Email arrives saying Tom Winnifrith says buy Avanti Media. I add it to my TomW watch list and pay it no more attention.
A pop up box offering level 2 training at ADVFN. It was so poor last time and the room was freezing; think I'll give it a miss.
Digitallook send me a list of broker recommendations - full of the usual contradictions, delete. Money morning has sent an email asking "are we in a bear market?" I know the answer, not yet. Delete. Digitallook commodities round up shows pigs and sheep down 5%; I wonder why that might be but I haven't the foggiest idea. The Times has CPW as a hold - in fact I'm waiting to short it when they can't deliver the service they have promised.
'the naked trader' is buying TEP; it's up 7.5% today...he's a clever sod.
The UK is heading for a quiet close and as the US is quiet I decide to turn my attention to my tax return. First I cancel my CW short order...it's looking like a buy for now. My other shorts potentials are good; tomorrow's another day.
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by outtatowner.com
Las Vegas Hotel