Winning trades in #iTradeWithAMillion

Winning trades in #iTradeWithAMillion

With fewer than two weeks left in the #iTradeWithAMillion competition, we lift the lid on some of the actual trades made by one of the frontrunners. iTrader Sharp (not his real name) started to trade only at the end of October, and within a few weeks, traded himself into the top 3 with CFDs on the JSE Top 40 only.

Sharp did very well with his first trade. He went long of 30 000 Absa at roughly R143 (R4m exposure) and closed 3 days later at R151 for a R230 000 profit. He then went long of 10 000 Firstrand at about R62 and closed at over R68 for a profit of R62 000. He also went long of 10 000 Standard Bank at R157 and closed it a week later at R172 for a R150 000 profit.

Sharp then went short of 20 000 Anglos, but closed that trade at a loss of R28 000. He went long of 5 000 Aspen at R146 and another 8 000 at R154 two days later. He closed the 13 000 at R164 for a profit of nearly R200 000. He could have sold the day before at R172 for an extra R100 000 profit. He went long again of 8 000 Aspen at R162, a position which was still open at the time of writing.

His biggest profit came from, you guessed it, Naspers. He went long of 2 200 Naspers at just less than R2 380, an exposure of over R5m. He closed it two days later at R2 748 for a profit of R816 000. The high of the day was R2 810. He then went long at R183 in 30 000 Shoprite which he closed at R196 for a R380 000 profit.

Apart from one or two losses, Sharp traded the big moves in Naspers, Absa, Aspen and Shoprite very well. Although this is virtual trading and the volumes might not always be available in real trading on the JSE, the profits are not unrealistic, since in the competition, you have to buy at the offer price and sell at the bid price. In real trading you can often trade between the bid and offer prices.

Good luck to all the participants in the #iTradeWithAMillion competition.

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