FMG

1.56%

$18.27 fortescue ltd

Ann: FY15 Half Year Results Presentation, page-134

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18/02/15

20:32

Post #: 14779481
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Originally posted by karasco58 ↑

Should of listened, but when margin loan involved, I somehow seem to worry about the interest cost in holding on too long.

E.g if I buy 200k @ say $2.70 costs = $540,000 on 65.00% lend at 7.50% interest (calculated daily) less brokerage (Macquarie Prime after rebate as I trade over $10.0m a month) = 0.08%

I look for small swings of 0.03-0.05 and hopefully this occurs during same day or next day. Trading profit after brokerage (at say 0.03) = $2,136-$$4,100.

If I hold for too long interest cost is roughly $110.00 a day in the above example.

Yesterdays buy 100k @ $2.66 and sale at $2.73, netted $6,500. Small return on dollar outlay but if you can repeat the process regularly, provides good income stream.

Sometimes I get it wrong and should of held out for longer, I had 500,000 Medibank at $2.39 that I had held for a week, and sold at $2.44, only to see price increase on same day to just over $2.50. $0.06 difference equated to $30.0k opportunity cost.

I lost a bit in the past and now try and be disciplined and take small profits as quickly as I can, so far this strategy is working well. Since December I made a sizeable profit with FMG, but got caught out badly in January buying 200k at $2.80, and then more and more as it dropped. Did not have the guts to add to holding at $2.00. But price has now recovered and back to positive. I am going to sell, take the profit and buy back in at the next opportunity.

Apart from FMG I only trade in TLS, MPL & QBE as they have large daily volume and price during the day provides opportunity to buy and sell for small profit (as long as timing is right).

I have worked out that greed kills and that the ASX is not an RSL Club.

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Hi Kara,

A little off topic, but what is a good entry and exit price for TLS. I know the SP is floating around the 650s.

I'm looking for an additional stock to trade.

Thanks.

FMG Price at posting: $2.49 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $18.27		Change -0.290(1.56%)		Mkt cap ! $56.25B

Open	High	Low	Value	Volume
$18.70	$18.72	$18.21	$313.4M	17.09M

Buyers (Bids)

No.	Vol.	Price($)
2	45418	$18.27

Sellers (Offers)

Price($)	Vol.	No.
$18.30	1200	1

View Market Depth

No.	Vol.	Price($)
7	17409	18.260
3	1797	18.250
2	3500	18.240
3	2143	18.230
5	6103	18.220

Price($)	Vol.	No.
18.300	1200	1
18.310	400	1
18.340	3281	1
18.350	3000	1
18.380	75	1

Last trade - 16.10pm 30/08/2024 (20 minute delay)

FMG (ASX) Chart

Ann: FY15 Half Year Results Presentation, page-134

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Ann: FY15 Half Year Results Presentation, page-134

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