Friday, September 03, 2010

A small day trade

I executed a small day trade, buying Solartech (1166) at HK$0.02 on Wednesday and selling it on Thursday morning at HK$0.021 for a profit after transaction costs of 3.2%. OK, this was only a very small amount of money, but the profit was still enough to cover my lunches for this week. Needless to say, I have no intention of committing more than relatively trivial sums to this sort of speculation.

Incidentally, if I had sold a few hours later on Thursday when the shares were trading at HK$0.023 and HK$0.024, the profit would have been much more impressive (12-17%).

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