Thursday, November 09, 2006

Could not sit tight

How I traded the stock

I made $215 and lost $137. My gross total was $78. Since I traded a ton of shares, I netted $32.63.

Trader-X trades this stock.

He gets in around 36.60 and rides it up to 38.00 for a $1.40 move. He goes in for 2000 shares and make $2800.

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About Me

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.