Being prepared for the day’s trading

Sunday, 19th April 2009 11:22 - by Boredmum

(From Admin: This was written a couple of weeks ago.) That is 2 mornings in a row I have still been in bed after 8am. Before you all think I am having a nice relaxing time, I have to say it’s the joys of being up 3 times during the night feeding a 3 week old baby! The thing is, I so hate waking up late! I like to be up prior to 7am so I can have breakfast, then check for any RNS available for the companies I’m investing in or trading. Once I’ve read and digested any news, then I can plan my trading strategy. After checking for any news, I like to have a look at what other people are posting on lse.co.uk. Prior to 8am is a good time to see if other people are posting good recommendations. I tend to look for companies that have an offer of a ‘Buy’ out or one that has just posted excellent results. Of course, I also have a look at GedW’s ‘Hotties’! Anyhow, the last 2 mornings have been crazy as I’ve been unprepared, flying by the seat of my pants. I have managed to have a decent trading week despite this, down to luck more than anything. On Friday, I bought TMC (a GedW recommendation) at 20p, selling on Monday at 23.7p. On Monday, I bought RBS at 23.9p, selling on Tuesday at 24.7p. On Wednesday, I bought TW. at 22.5p and sold on Thursday at 27.5p. That happens to be a terrific trading week for me. The downside being that I got hit with a paper loss in MEC. Next week I hope to sell MEC. I’m in at 5p this time and waiting for news of Polish disposal...6-7p will do me nicely. I’m also back in TMC at 22.46p and not sure where to come out. I’ll play that one by ear.