Thursday, November 02, 2006

Sluggish - many missed trades

I had a good list of stocks today which had good moves. I missed most of the moves because my attention was with other stocks. The stocks I watched did not do much. Most of them were small winners. I felt some hesitation on putting on larger positions. I took profits too soon on my winners. I managed to make $500, but I am not satisfied with how I traded.

I need to experiment with buy/sell stops above narrow range bars. It would help get me into stocks like STN. I will probably start small with 100 or 200 shares.

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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.