Thursday, December 07, 2006

Almost a repeat of yesterday

I was down over $100 after the first few trades. Then I managed to come back and was up around $30 at 10:30. Then I began another journey down. By 11:40am I was pissed off because I had 4 consecutive losing trades that cost me around $170. I was down over $300. I feared that I would have a repeat of yesterday's loss. I walked away from my screen for awhile to take a break.

When I came back I caught a bounce on NX at 12:05 and made $134. This trade gave me the energy to trade again. I just chipped away and caught a lot of small wins. In the end of the day I recovered most of my losses. I am down $30 today. It is a great relief to have a small loss.

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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.