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How was everyone's day?
I was disappointed earlier that I missed the £13.10 buying opportunity - by the time I got back to my trading screen the price had jumped to £13.20 and I wasn't sure at that point whether there was any profit to be had with it being Friday. Should have taken a leaf out of SadActs book and just put a limit order in to buy,
Looking at the graph G, you may see £13.60 on Monday - I'm not saying a word about choices at that time given what happened elsewhere today. I still can't see any date for year end figures though.
A nice £3k profit for me this week with Ocado. Achieved by doing absolutely nothing, just sitting on the shares that I own. I admire the work that you day traders put in but on the evidence so far I don't see the benefits. On average what annual return do you make on your portfolio ?
Well done Owls - I know you said before that you like to take a longer term view, but does there come a point where you're tempted to sell some of your Ocado especially when they've risen quite a bit so that you can buy more at a cheaper price?
Last year wasn't as good as previous years as I've already said here - mainly because I was buying in company's where shares had bombed. For me, I enjoy the challenge of day trading each day although admittedly this week hasn't been my best but I know the reasons for that so next week my focus will be back on track.
By the way Owls, I'm not going to reveal my income, but if you follow this chat you'll know that G mentioned that someone on the IAG board made £100,000 profit last year by trading the shares whereas someone else made £10,000 by just sitting there and letting them "do their own thing".
Just to give you an idea of the level of profit you could be making by trading lets say 5,000 shares - and you don't need to be perfect with your trades every day - lets just base it on a £1 variance between your buys and sells in a week, then you could be looking at a £200K profit over the year - hope that goes some way to answering your question.
Hi T, I sold 2/3rds of my holding at 200% profit because it had risen to about 30% of my portfolio and I don't like to have more than 10% in one share.
Incidentally one of the shares I invested the proceeds in was TCG so it shows how erratic long term trades can be. I didn't follow it all the way to the bottom but I did lose 60%.
I will probably sell the remainder of my shares at the end of the month and buy whatever is at the top of my momentum analysis at that stage.
You can probably guess I'm quite cynical about day trading but I am open minded and if you can demonstrate how successful it can be then I may look at it in more detail.
Well done on that - sensible approach in respect of spreading the risk. It was a shame about TCG - I think a lot of people were hoping for a recovery along the same lines that it had when was it Harriet Green was in charge - we all have our mistakes though.
Far from it for me to advise, but I do think Ocado's share price is going to start moving forward again in the not too distant future - I appreciate its been fairly boring recently, but considering Tim Steiner's KPI's from last year are something like to treble the share price over the next 5 years (well just over 4 now since he said that) you may want to think again about completely selling out.
OK - so you made £3000 on your shares in a week by doing nothing - I get that because this time last week the share price was £12.60 so the profit you've made is from the share price going up by about 60p in the week - if the share price was only £12.00 today then potentially that's a £3,000 loss - ie £12.60 down to £12.00 or a £6,000 swing if that makes sense?
I'll give you the figures of what would have been the "perfect" trades from yesterday and today and hopefully you can follow what I'm saying. Based on a start point of 5000 shares - you would have sold yesterday morning at £13.60 giving you net sale proceeds of £67,994.05, you would have then bought 5124 shares in the afternoon at £13.20 with the proceeds from the first sale and then sold them yesterday for £13.40 giving you £68,655.65.
Today, you would have used the proceeds from your last sale and bought 5202 shares at £13.13 and then sold them this morning at £13.27 and received £69,030.54, you would have then used the proceeds from that sale and bought 5242 shares at £13.10 which at close today would have been valued at £69,666.18 - so a net profit between yesterday and today of £1672.13.
Hope the above makes sense - the other way you could do it is just buy and sell the same 5000 shares each time and transfer the cash to your bank or do something else with the proceeds - I've given you the buy/sell figures so you can work it out yourself if that's what you want to do.
As you can see, you don't have to be perfect with your buys and sells every time - nobody would be able to do that consistently, but bearing in mind there's not been massive swings in the price over the last two days, you can see how profitable it can be - add a few more 3, 4 or 5% increases/reductions in price and you can do even better over a longer time frame.
What I would say is by trading, regardless of whether the share price is going up or down, you still have a chance of making money, whereas not doing anything you're relying on the share price rising to make a profit. Hope you've found the above helpful/useful - whatever you decide to do good luck with it.
owls. The 5 day Google graph for OCDO shows a 5.7% rise, for a day trader to be in and out of the share, say three times this week suggests needing 5.7 + 1.5 being 3 stamp duty..approx. personally, I can't see looking at the graph how I could have made 7.2%. yes, every day/week is different, you could argue that a well researched day trader would have stayed invested this week, after all, it's not compulsory for day traders to actually trade every day. With brilliant timing (and a lot of luck) a day trader could have made more than 7.2% this week by catching those wed an Thur peaks. I am left thinking I am in the wrong business. Perhaps I should give up this day trading mullarkey. But in a way I am getting best? of both worlds by holding some OCDO longer term and also actively trading some.