Friday, May 16, 2008

Daily Summary

8400 shares
+231

I made $100 in ATI from going long a break of 82. I was a bit slow and missed the shares at 82. I got in at 82.13 and 82.16. I sold 100 at 82.35 and 100 at 82.98 for a gain of $106. Right after my ATI trade I jump into 200 CRS at 61.21 and ended up losing all my gains when I got out of the nasty reversal at 60.68. I hesitated too long and had a big loss. RDC was my biggest winner. I got into 400 shares at an average of 45.08. I got out of 200 at 45.61 and 200 at 45.56 for a gain of $212. I made up to $300 in profits and then gave some back.

Thursday, May 15, 2008

Daily Summary

Wednesday
8000 shares
+273

Today
14000 shares
-37

Today was a bit frustrating. I decided to boost my size to 300-400 shares positions. I was not patient in the morning and I kept forcing trades, instead of waiting for nice setups to come along. As I started losing, I kept taking more trades and lost some more. It seems like on days that I try to get aggressive and make money I lose money. I was down over $300 at noon. I managed to recoup most of my losses by going long JCP when it broke out of 45.39, a daily chart resistance. I got 300 shares at 45.39 but got shaken out at 45.35. Then I got 300 again at 45.59 and held on. I sold 100 at 46.50 and the rest at 46.25. I wish I had more shares, but since I was down over $300, it was hard for me to go aggressive.

Tuesday, May 13, 2008

Daily Summary

11000 shares
+230

I did not catch any big movers today. My biggest gain was around 90 bucks. I caught a few scalps on the long side.

I found a pretty good website(finviz) for trading research thanks to Brian from Alpha Trends. For a free site it has pretty powerful screening tools. I played around with it today for a little bit and I like it.

I like how it shows the chart of all the stocks from the scan. It also draws trendlines and finds patterns for you. Nice.

Friday, May 09, 2008

Daily Summary

Wednesday
6600 shares
+237

Thursday
13600 shares
+18

Today
5800 shares
+263

I had a good week last week, but this week I find myself trading defensively again. This has helped me some what because I am very skeptical about most of the moves. I kept my focus on stocks with earnings and stayed away from trading other stuff. I haven't had much success trading them for the last month or two.

Tuesday, May 06, 2008

Daily Summary

Monday
6800 shares
+162

Today
18400 shares
-126

I was forcing trades early on and lost around 180 by 9:39. My pnl was seesawing between positive and negative for most of the day. I was down around 36 bucks until I made an aggressive trade in COV at around 2:15. I bought 600 shares at 49. I wasn't too confident so I got out of 200 shares at 49.04. The stock dropped fast and got out of my 400 shares at 48.75. I wanted to make a comeback but I could not find any trades. I also had a hard time trying to stay awake so I guess it is best not to force anything.

Friday, May 02, 2008

Daily Summary

7800 shares
+670

I had a nice trade in BWA.

Thursday, May 01, 2008

Daily Summary

6200 shares
+1528

After 2 weeks of watching earnings stocks run up 2-3 bucks from the open, I finally caught one of them. I had the golden touch today and most of my trades are winners. My total losers only added up to $55.

ASF was my money maker. I took 400 shares and rode it up taking partial profits along the way. If all trades move this fast then trading would be easy. I made 761 in ASF on 400 shares.



I also made some money in TRN, MGA, MSA and N in the long side.

Wednesday, April 30, 2008

Daily Summary

10400 shares
+334

My trading was not going anywhere and I was up only hundred bucks at noon. I saw JLL break down to new lows. I was skeptical and have no conviction so I got only 200 shares. I made the bulk of my gains in this trade and called it a day.


Tuesday, April 29, 2008

Daily Summary

11400 shares
-59

Monday, April 28, 2008

Daily Summary

7000 shares
-199

I had 2 costly mistakes in the morning which added up to most of my losses today. I did not trade the fertilizer stocks for awhile and today I tried to play them. I spotted TRA going up so I went long MON. Instead of moving up MON continued down lost 46 cents on 100 shares. I thought maybe TRA was going to follow MON and the other fertilizer stocks so I shorted 200 shares of TRA. I got squeezed for 86 bucks as TRA continued up. One good thing is I covered instead of waiting or my loss could have been much greater. I have stopped taking trades like these because they involve to much guess work. I guess my old habits crept back today. I did not catch anything else the for most of the day and lost a bit more.

About Me

OBAT
I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year. My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets. In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.
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