Busy day: bought @3.10 in the morning and sold @3.15 right after lunch.
This is not my kind of investing, I'm a value investing fan. Although, I think there is an oportunity here I will try to profit with this.
I'll try to do this more times, so far 3 nice trades.
All values are comission & fees free.
That's a lot of work with these trades. How are they commission free? I'm sure you were watching that stock like a hawk while you owned it for that brief period. Thanks for sharing.
ReplyDeleteHi Keith!
ReplyDeleteThe work is minimum. This is a very low free-float stock with big bid/ask spreads and, so, low/high are very far each day.
The median of the weekly high "minus" low for the last 3 months is €0.16 (or 5.6% on the price). The third quartile is €0.21 (or 7.1% the price).
This means, 1 in each 2 weeks, the stock varies more than 5.6% and 1 in each 4 weeks, the stock varies more than 7.1%.
This is the gap I'm exploring.
My 3 trades had duractions of 30 days (profit 5.0%), 10 days (profit 3.8%), 0 days (profit 1.8%).
I'm am now in the bid side and I'll just take a look at price each morning and after market closes. each look again. When I manage to buy it, I'll give sell order and keep quiet again.
These trades are not comission free, I just include this cost in my buy/sell price. Is this my way to look at this.