Tuesday, December 12, 2006
Less is more
I was following fewer stocks today. I was watching and trading 2 stocks(SMG, CRM) closely in the morning. I think I remembered how to trade. I was just scalping and watching the tape. It seems like a long time since I traded like this. I did not make much but it was a good confidence building exercise. When I am in a slump I need to regain my confidence by getting consistent again. I am up $190 today.
- 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.