Australian (ASX) Stock Market Forum

Scalping Lynas experiment

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Mon___B:1.15___S1:1.16___S2:1.15
Tues___B:1.16___S1: 1.17___S2:1.15
Wed___B:1.17___S1: 1.14___S2:1.19
Thurs___B:1.145___S1:1.19___S2:1.17
Fri___B:1.19___ S1:1.21___S2:1.205
Mon___B:1.22___S1:1.21___S2:1.225
Tues___B:1.21___S:1.22
Wed___B:1.245___S:1.20
Thurs___bid:1.20 -- only 120 shares went through at this price at 12.43

Summary paper profits: $62
 
...and sold 1.21.

Paper loss: -$660 over 2 week period (= 1.3% drawdown)


Comments: Had I nailed the low+.015 each day, the profit would have been $2061.98 over the 2 weeks, so I was well ahead of the curve at the end of my first week before blowing up. $2061 in 2 weeks equates to 282% when compounded over 1 year. Two bad days took me well into negative territory.

Reasons for draw down: No excuses. Main reason behind the bad trades was impatience. On the two negative days, the slow decline in SP and the extended hours of screen staring got too much and I just decided to pull the trigger. 4-5 hours of looking at market depth of just one stock is too hard and I wouldn't opt to do it this way again.

I think I might have done better just reading the depth, and buying/selling as the depth dictates, allowing me to leave the screen if/when I feel like it. It must be fun, and this experiment wasn't particularly fun. I'll start a different thread and see if I can make it work. It will be much simpler.
 
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