Tuesday, December 05, 2006
A little better
I managed to make around $360 today. I waited until I saw a nice setup before I made the trade. I had a nice trade in ACF today. I got 600 shares at 24.20. I got out of 300 at 24.70 and 300 at 24.82 for a $330 gain. I decided to get out because the stock was stalling near 24.73, the 20 day moving average. I just traded a lot of shares in the afternoon to make an extra $30.
- 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.